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Workers at SMEs earn 65 pct of wages for employees of large firms: report

Employees working for small and medium-sized companies in South Korea were paid, on average, 65.1 percent of the earnings of employees of a large firm in 2017, a report showed Thursday. The average ...

Jan 10, 2019
Economy
Samsung's Q4 operating profit tumbles 28.7% on tepid memory demand

Samsung Electronics Co. said Tuesday its operating profit plunged 28.7 percent in the fourth quarter compared with a year ago due to weak memory demand, falling far short of market expectations. Ope...

Jan 8, 2019
Economy
[News Focus] Korean harbors brace for 4th industrial revolution

SEJONG -- South Korea is mapping out mid- and long-term plans to become a global logistics hub by introducing “smart” harbors across the country, a project that is expected to last a decade from 2021...

Jan 7, 2019
Economy
Corporate retirement pension funds top 172tr won

Corporate retirement pension funds managed by South Korea's financial institutions topped 172 trillion won ($153 billion) as of September last year, but their annual rate of return was low, governmen...

Jan 7, 2019
Economy
S. Korea logs world‘s 2nd fastest household debt-to-GDP ratio growth

The ratio of household debt to gross domestic product in South Korea increased at the second fastest pace in the world last year, only outranked by China, despite the Seoul government’s tightened len...

Jan 6, 2019
Economy
EU to impose 25% duty on quota-exceeding steel imports from Feb.

The European Commission has informed the World Trade Organization of its decision to adopt a 25-percent duty on imports of steel into the European Union above a certain level from Feb. 2, the foreign...

Jan 5, 2019
Economy
Government to finalize minimum wage restructuring plan within January

Within this month the renewed calculation method for the legal minimum wage will be finalized, Deputy Prime Minister and Finance Minister Hong Nam-ki said Friday. “The government will announce its d...

Jan 4, 2019
Economy
Community Chest's new honor society member

Philip Morris Korea Director Kim Byung-chul (left) poses for a photo during an initiation ceremony on Thursday in Seoul for the Community Chest of Korea’s Honor Society, an exclusive club for individ...

Jan 4, 2019
Economy
S. Korea’s foreign reserves hit record high in Dec.

South Korea’s foreign exchange reserves reached a record high level in December, amid a weakening US dollar trend, the central bank said Friday. The total amount of foreign currency holdings stood a...

Jan 4, 2019
Economy
Cheong Wa Dae ramps up dialogue with conglomerate executives

President Moon Jae-in’s chief policy adviser held a closed-door meeting with South Korean conglomerate executives late last year, the presidential office confirmed Thursday, in what appeared to be th...

Jan 3, 2019
Economy
[News Focus] Will 2019 job market see effect of W54 trillion spending?

SEJONG - During his 2017 presidential campaign, candidate Moon Jae-in promised to create 800,000 jobs if elected. His employment pledge is estimated to have appealed to many voters, including among t...

Jan 3, 2019
Economy
FDI pledges to S. Korea hit record high in 2018

New foreign direct investment pledged to South Korea rose to the highest level ever last year, led by rising interest in the nation's high-tech industries and startups in emerging sectors, government...

Jan 3, 2019
Economy
Ministry takes legal action against whistle-blowing official

The Ministry of Economy and Finance said Wednesday it will level criminal charges against a former official for making public remarks accusing the Moon Jae-in government of forcing bond issuance and ...

Jan 2, 2019
Economy
47% of self-employed to lay off workers, cut back hiring

Approximately half of South Korea’s self-employed businesses plan to lay off employees or cut back on hiring this year, according to a survey released Wednesday. Incruit, an online recruiting servic...

Jan 2, 2019
Economy
GM Korea repositions vehicle prices to revive sales

GM Korea Co., the South Korean unit of General Motors Co., said Tuesday that it has cut the prices of mainstay models in an effort to revive lackluster sales. Starting Tuesday, GM Korea slashed the ...

Jan 1, 2019
Economy

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