SEOUL, Dec. 27 (Korea Bizwire) – South Korea has been reported to spend 2% of its Gross Domestic Product (GDP) on environmental protection, averaging approximately 920,000 won per capita. The Ministry of Environment revealed the compilation results of the environmental protection expenditure account for 2021 on December 25. In 2021, the national expenditure for environmental protection [...]
SEOUL, Dec. 26 (Korea Bizwire) — The South Korean economy is expected to be on track for a recovery in 2024 on rising exports, but sluggish growth looms large as higher-for-longer interest rates and sticky inflation could further hamper global growth and domestic demand, experts said Tuesday. South Korea has faced multiple economic challenges in [...]
SEOUL, Dec. 20 (Korea Bizwire) — The nation is bracing for an arctic cold wave later this week, with morning lows plummeting to between minus 19 C and minus 5 C across the country, the state weather agency said Wednesday. The season’s strongest cold wave is forecast to peak on Thursday and Friday, when the [...]
SEOUL, Dec. 19 (Korea Bizwire) — The sea level of South Korea has increased more than 10 centimeters over the past 34 years amid growing concerns over climate change, the government data showed Tuesday. The country’s average coastal surface height rose 10.3 cm from 1989 to 2022, advancing 3.03 millimeters annually, according to the state-run [...]
SEOUL, Dec. 5 (Korea Bizwire) — South Korea fell to second place in new global shipbuilding orders in November to trail behind China again, industry data showed Tuesday. South Korean shipyards clinched orders totaling 570,000 compensated gross tons (CGTs) for 15 ships, accounting for 36 percent of the global total of 1.59 million CGTs last [...]
SEOUL, Dec. 4 (Korea Bizwire) — South Korea and China agreed Monday to establish a bilateral dialogue mechanism on export controls and further activate a hotline for supply chains of major industry items, Seoul’s industry ministry said. The agreement was made during a meeting between South Korea’s Trade Minister Ahn Duk-geun and Wang Shouwen, China’s [...]
SEOUL, Dec. 1 (Korea Bizwire) — The average life expectancy of South Korean babies born last year fell by about a year to reach 82.7 years, data showed Friday. The average life expectancy at birth in 2022 was 0.9 year shorter than the previous year, according to the data compiled by Statistics Korea. Compared with [...]
SEOUL, Nov. 29 (Korea Bizwire) — The Organization for Economic Cooperation and Development (OECD) revised up the outlook for South Korea’s economic growth next year to 2.3 percent on a recovery in exports and eased geopolitical tensions, Seoul’s finance ministry said Wednesday. The figure marked a 0.2 percentage-point increase from its projection of 2.1 percent [...]
SEOUL, Nov. 29 (Korea Bizwire) — South Korean shipbuilders are widely expected to lag far behind their Chinese rivals in new global orders to place second worldwide in 2023 amid falling demand, according to industry data Wednesday. Local shipyards won a combined 9.55 million compensated gross tons (CGTs) in new orders in the first 11 [...]
SEOUL, Nov. 27 (Korea Bizwire) — China’s top envoy to South Korea said Monday that Beijing will seek to advance ties with both South Korea and the United States, calling it an “obligation” to tackle global challenges. The remarks by Xing Haiming came a day after the top diplomats of South Korea, China and Japan [...]