The International Monetary Fund has forecast that the global economy this year will experience the worst recession since the Great Depression in the 1930s, in the aftermath of the COVID-19 crisis. However, Bloomberg has predicted that manufacturing powerhouse South Korea ... Read More
LG Electronics has decided to expand its overseas production of televisions, while reducing domestic production, by relocating two manufacturing lines from South Korea to Indonesia, the company confirmed on Wednesday. Under its strategy to tackle the stagnated demand for TVs ... Read More
The outbreak of the novel coronavirus has led to a change in the home appliance consumption trends, with increased popularity of electronics helping household chores and less demand for grooming and beauty-related products, according to the retail industry Sunday. According ... Read More
South Korea’s outbound shipments of information and communications technology products in April reached $12.88 billion, down 15 percent on-year, according to latest government data Thursday. The Ministry of Science and ICT noted that the import value of ICT products in ... Read More
Doosan Heavy Industries, South Korea's top power equipment maker, said Friday that it swung to a net loss in the first quarter from a year earlier due to increased one-off costs. For the January-March period, Doosan Heavy posted a net ... Read More
Korean startups find the COVID-19 pandemic positive for the country’s startup ecosystem in the future, a survey by the Ministry of SMEs and Startups showed on May 12. Out of 492 respondents, 42.5 percent said the COVID-19 pandemic will bring ... Read More
Production and sales in the service industry in Jeju during the first quarter of the year saw a two-digit rate of decline due to the coronavirus pandemic, data from Statistics Korea showed. Fifteen other regions also saw significant drops in ... Read More