SEOUL, Jun. 18 (Korea Bizwire) – South Korea’s global competitiveness ranking rose by eight notches to reach the highest level for the country ever in 2024 on improved corporate efficiency and infrastructure, a report showed Tuesday. The country ranked 20th in terms of global competitiveness among 67 countries surveyed in 2024 compared with 28th the [...]
SEOUL, Jun. 13 (Korea Bizwire) – The 4.8-magnitude earthquake that struck North Jeolla Province on the morning of June 12 served as a jarring reminder that the Korean Peninsula is not impervious to significant seismic risks, despite being located in a less active zone than neighboring Japan. While far outpacing South Korea in frequency, with an [...]
SEOUL, Jun. 12 (Korea Bizwire) — With the second round of the World Cup qualification in the books, South Korea will resume their search for the new head coach for the men’s national team. South Korea played their final four matches in the second round of the Asian qualification for the 2026 FIFA World Cup [...]
SEOUL, Jun. 11 (Korea Bizwire) – South Korea faces a grim economic outlook unless it can significantly boost productivity, according to a recent report by the Bank of Korea. The nation’s economic growth is at risk due to a combination of ultra-low birth rates, rapid aging, and stagnating productivity, which together could lead to economic stagnation [...]
SEOUL, Jun. 7 (Korea Bizwire) — With a resounding win over Singapore on Thursday night, South Korea have already secured a place in the next phase of the Asian qualification for the 2026 FIFA World Cup. Kim Do-hoon, caretaker manager for the national team, insisted Friday the job is not yet done for his boys. [...]
SEOUL, May 28 (Korea Bizwire) – The population is anticipated to drop in nearly all regions by 2052, except for Gyeonggi Province and the central city of Sejong, due to the chronically low birth rates, a report showed Tuesday. According to the report released by Statistics Korea, the population in 15 out of 17 provinces [...]
SEOUL, May 14 (Korea Bizwire) – While official statistics appear to show South Korea’s minimum wage closing in on the average for developed economies, experts argue this effect is an illusion stemming from how the country calculates average wages compared to international standards. According to a report on minimum wage trends and global comparisons released on [...]
SEOUL, May 9 (Korea Bizwire) — South Korea’s fiscal deficit reached an all-time high in the first three months of 2024 due to rising expenditures aimed at buttressing an economic recovery, the finance ministry said Thursday. The managed fiscal balance, a key gauge of fiscal health calculated on a stricter term, posted a deficit of [...]
SEOUL, May 9 (Korea Bizwire) — South Korea logged a current account surplus for the 11th straight month in March on the back of an increased trade surplus, central bank data showed Thursday. The country’s current account surplus reached US$6.93 billion in March, following the surplus of $6.86 billion in February. In the first three [...]
SEOUL, May 8 (Korea Bizwire) – Hundreds of thousands of barrels of Russian naphtha, a crucial raw material for plastics and synthetic fibers, have been stranded at sea for over a week as South Korea, a major buyer, shuns cargoes from the nation following its invasion of Ukraine, according to Bloomberg. The standoff is a consequence [...]