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Venture minister vows to expand support for startups

South Korea's venture minister said Thursday that the government is committed to expanding support for startups, which eventually would jack up employment. Venture investment in South Korea is estimated at 3.4 trillion won ($3.04 billion) last year, which marks a ... Read More

Seoul to spend 537 b won for traditional markets

South Korea plans to spend 537 billion won ($478 million) to help nurture the country's traditional markets, the government said Wednesday. According to the Ministry for SMEs and Startups, around half of the earmarked budget will be spent to help ... Read More

Import prices fall to 8-month low in Dec. on falling oil prices: BOK

South Korea’s import prices fell for two consecutive months in December and reached an eight-month low, amid a prolonged fall in crude oil prices, central bank data said Tuesday. The import price index stood at 85.01 last month, down 3.4 ... Read More

President Moon to meet with leaders of top conglomerates

President Moon Jae-in will hold a meeting this week with the leaders of the country's largest businesses, the presidential office Cheong Wa Dae said Monday. The meeting will be held Tuesday at Cheong Wa Dae, involving top executive officers of ... Read More

Korea’s exports fall 7.5% in first 10 days of January

South Korea's exports fell 7.5 percent in the first 10 days of January from a year earlier due largely to a sharp decline in shipments of semiconductors and ships, customs data showed Friday. The country's outbound shipments reached $12.7 billion ... Read More

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 monthly wage of SME workers stood at ... Read More

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. Operating profit came to 10.8 trillion won ($9.66 billion) ... Read More

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 ministry said Friday. In the notice ... Read More

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