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Half of South Korean manufacturers say their businesses are in decline

Half of South Korean manufacturing businesses believe their current revenue source is already in a stage of decline, a survey shows. Respondents also estimated their company’s remaining lifespan at 6..

Aug.4,2016 17:42
Business offshoring makes a u-turn as the government encourages “reshoring”

Samsung Electronics has pledged a total of 20 trillion won (US$17.6 billion) in investment in Vietnam through 2017. Some 40,000 people are employed directly or indirectly at its local smartphone plant..

Aug.1,2016 08:16
To face down corporate chains, independent coffee shops band together

Lee Woo-yong, 48, who had been handling business and administrative matters for a Buddhist temple since his twenties, had chosen not to drink coffee. It had always struck Lee as a symbol of the franti..

Jul.31,2016 07:34
Samsung Chairman promised “something worthwhile”, but used money for prostitution

The 1.3 billion won (US$1.15 million) key money deposit on the apartment in Seoul‘s Nonhyeon neighborhood where a video was filmed that allegedly shows Samsung Electronics Chairman Lee Kun-hee solicit..

Jul.29,2016 10:15
[Memoir] Tearing off the stem of Lee Kun-hee’s racetrack joyrides

South Korea is abuzz over videos allegedly showing Samsung Electronics chairman Lee Kun-hee purchasing the services of prostitutes. Revelations that the leasehold rights for the location of Lee‘s alle..

Jul.29,2016 10:12
Volkswagen says fudged emissions data were result of “documentary errors”

In a hearing before South Korea’s Ministry of Environment related to alleged emissions tampering, Audi Volkswagen Korea continued to explain its apparent tampering as being due to “documentary errors...

Jul.26,2016 17:59
Top five biggest chaebol groups gobbling up ever larger share of economy

A new study of South Korea’s 30 largest corporations shows that assets at the top five have increased substantially while employment has failed to keep up with this growth. According to an analysis r..

Jul.25,2016 17:12
IMF slightly raises 2017 growth projection for South Korea

The International Monetary Fund (IMF) slightly raised its projected 2017 economic growth rate for South Korea. The change appears to take into account the effects of the year’s revised supplementary ..

Jul.25,2016 17:09
South Korea posts first ever automobile trade deficit with China

Between January and May of this year, South Korea posted its first deficit in automobile trade with China. According to a report titled “The Switch to a Deficit in the Automobile Industry’s Trade Ba..

Jul.24,2016 11:48
Researchers: 25 years of growth-oriented policies concentrated wealth among high-earners

During the quarter century that has passed since the 1990s, South Korean high earners have seen their income increase nearly sixfold, while low earners‘ income has only increased by 250%, leading anal..

Jul.20,2016 17:48
Popularity of Pokemon GO ratcheting up issue of releasing map data to Google

Google’s request for map data is heating up with the growing popularity of Pokemon GO, a mobile game in which users capture virtual characters in real-world places. The game currently has over one mi..

Jul.19,2016 17:55
South Korea must choose energy future: dirty coal or renewable?

The efforts of other countries to reduce greenhouse gas emissions has had the incidental result of reducing the price of coal, but South Korea should not assume that it will be able to exploit this in..

Jul.17,2016 10:16
Naver board chairman Lee Hae-jin: "Urgency was the secret of Line's success"

In a press conference held at Naver's "GAK" Data Center in Chuncheon, Gangwon Province, Lee Hae-jin, chairman of the board and founder of Naver, told reporters about the powerful emotions he felt when..

Jul.17,2016 09:58
Samsung to invest in BYD, a Chinese electric car maker

Samsung Electronics announced on July 15 that it will be investing in BYD, a Chinese company that leads the world in electric car sales. “We have discussed investing with BYD, which produces electric ..

Jul.16,2016 14:42
[Photo] Phone booths converted to fast electric car charging station

A Korea Environment Corporation staff member uses a fast charging electric car charging station converted from a telephone booth in Seoul’s Geumcheon district, July 15. The Ministry of Environment and..

Jul.16,2016 14:20