SEOUL, Dec. 26 (Korea Bizwire) —A recent survey revealed that small business owners using self-service kiosks are saving labor costs equivalent to employing approximately one staff member. However, the cost of adoption and operational hurdles remain significant concerns. According to the Korea Federation of SMEs, 93.8% of 402 businesses, including restaurants, cafes, and PC rooms, [...]
SEOUL, Dec. 24 (Korea Bizwire) — A recent survey revealed that over half of Korean startups anticipate adverse effects on their businesses from the policies of Donald Trump’s second presidential term. The findings highlight concerns over protectionism, supply chain nationalism, and currency fluctuations. According to a poll conducted by the Korea Venture Business Association (KOVA) of [...]
SEOUL, Dec. 17 (Korea Bizwire) – The number of properties auctioned off due to loan defaults in South Korea is on track to hit its highest level in 11 years, reflecting the combined impact of soaring interest rates and a sluggish real estate market. Sharp Rise in Property Auctions Data from the Court Registration Information Plaza [...]
SEOUL, Dec. 16 (Korea Bizwire) – South Korea’s manufacturing and mining sectors saw their first decline in business establishments in seven years, driven by a slowdown in the semiconductor industry and a downturn in textiles. According to Statistics Korea’s preliminary Mining and Manufacturing Survey, released on December 16, the total number of businesses with 10 or [...]
SEOUL, Nov. 26 (Korea Bizwire) – The number of Korean venture companies surpassing ₩100 billion in annual revenue exceeded 900 for the first time last year, signaling robust growth in the country’s innovation-driven economy, the Ministry of SMEs and Startups announced on Tuesday. The total reached 908 firms in 2023, a 4.5% increase from 869 in [...]
SEOUL, Nov. 20 (Korea Bizwire) – South Korea’s e-commerce market is growing at a fast pace and is expected to grow 10.2 percent on-year to surpass 164 trillion won (US$118 billion) this year, a global market research firm said Wednesday. The Korean e-commerce market is set to reach 164.3 trillion won in 2024, up from [...]
SEOUL, Nov. 11 (Korea Bizwire) – Samsung Electronics Co., South Korea’s tech giant, topped other local companies in the number of female executives this year, a local head hunting firm said Monday. Unico Search Inc. conducted a survey of the country’s top 100 companies in terms of sales to see how many female executives they [...]
SEOUL, Oct. 28 (Korea Bizwire) – Part-time employment among young workers has doubled over the past decade, leading to an unprecedented rise in non-regular employment among South Korea’s youngest workforce. According to data released by Statistics Korea on October 27, as of August, there were approximately 1.46 million workers in their 20s heolding non-regular positions, representing [...]
SEOUL, Oct. 25 (Korea Bizwire) – Data released by South Korea’s National Tax Service has revealed significant income disparities among the country’s workforce, with the average annual salary standing at 41.23 million won while top earners command substantially higher wages, particularly in the capital region. According to figures obtained by Representative Ahn Do-geol of the Democratic [...]
SEOUL, Oct. 9 (Korea Bizwire) — The number of imported electric vehicles (EVs) newly registered in South Korea fell 40.1 percent on-year over the August-September period, data showed Wednesday, amid the public’s lingering concerns over their safety. According to data compiled by the Korea Automobile Importers & Distributors Association, 6,868 imported EVs were newly registered [...]