KoreaTimes - Economy

The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Finance

Economy

Tue, May 30, 2023 | 11:02

Vietnam emerges as major market for Korean chipmakers

Vietnam emerges as major market for Korean chipmakers

Vietnam is quickly emerging as a major market for Korean semiconductor makers, which have been struggling amid sluggish chip demand in China, according to a report by the Bank of Korea (BOK), Monday. The BOK stressed the importance of diversifying export markets for Samsung Electronics and SK Hynix in light of the escalating rivalry between the U.S. and China.

2023-05-29 16:11

Korea's household debt-to-GDP ratio highest among 34 major economies

Korea's household debt-to-GDP ratio highest among 34 major economies

Korea's household debt-to-gross domestic product (GDP) ratio was the highest among the world's 34 major economies in the first three months of this year, data showed Monday. This has raised concerns that banks and other financial firms may face higher default rates amid higher interest rates and deepening economic warning signs.

Anna J. Park | 2023-05-29 15:47

Top 20% of income earners fuel increase in Q1 consumption as pandemic ends

Top 20% of income earners fuel increase in Q1 consumption as pandemic ends

The top 20 percent of income earners in Korea have been opening up their wallets in the first quarter, especially since the government has lifted nearly all quarantine measures. This wealthy group is driving domestic consumption, showing a surge in outdoor activities and travel.

2023-05-29 09:00

LG Electronics expands social contribution in Middle East, Africa

LG Electronics expands social contribution in Middle East, Africa

LG Electronics has expanded social contribution activities in the Middle East and Africa as it seeks business opportunities there, according to the company Sunday.

2023-05-28 12:23

Sales workforce at offline shops declines as online deals rise

Sales workforce at offline shops declines as online deals rise

The sales workforce at Korea's retail stores continued to decline in the past four years on increased online transactions amid the COVID-19 pandemic, government data showed Sunday.

2023-05-28 11:26

ChatGPT: boon or bane for banking industry?

ChatGPT: boon or bane for banking industry?

The financial sector in Korea is upbeat about adopting ChatGPT, an up-to-date artificial intelligence (AI) chatbot programmed for human-like conversation, as part of the industry's move to accelerate digitalization. A string of executives and researchers at the banks have listed possible services that can be made more efficient, convenient and secure using ChatGPT since it wa...

2023-05-28 09:01

China, Korea agree to strengthen talks on chip industry: Chinese commerce ministry

China, Korea agree to strengthen talks on chip industry: Chinese commerce ministry

China and Korea have agreed to strengthen dialogue and cooperation on semiconductor industry supply chains, amid broader global concerns over chip supplies, sanctions and national security, according to China's commerce minister.

2023-05-27 20:48

Seoul's trade minister holds talks with US counterpart over IRA, IPEF

Seoul's trade minister holds talks with US counterpart over IRA, IPEF

Korea's top trade official has discussed a variety of issues, including the Inflation Reduction Act (IRA), with the United States Trade Representative Katherine Tai, his ministry said Saturday.

2023-05-27 17:27

Gen MZ shifts to thrifty mindset amid high cost of living

Gen MZ shifts to thrifty mindset amid high cost of living

A KakaoTalk user in his 20s says he routinely asks for and shares advice on how to spend less and save more money in an open chat with more than a dozen users also looking to live more frugally.

2023-05-26 16:16

Gov't dividends from state-run firms halve in 2023 amid lackluster earnings

Gov't dividends from state-run firms halve in 2023 amid lackluster earnings

The Korean government's dividend income from its stakes in public companies fell sharply in 2023 from a year earlier due to weaker performances amid economic uncertainties, data showed Friday.

2023-05-26 14:30

1 2 3 4 5 6 7 8 9 10

Top 10 Stories

1	Korea eyes launch of 4th Nuri space rocket in 2025

2	Memorial Day 2023

3	Japanese destroyer flies controversial flag as it arrives in Korea for joint drill

4	ANALYSISChina's ban on Micron tests Washington-Seoul alliance

5	Seoul on alert over Pyongyang's imminent spy satellite launch

6	Korea's household debt-to-GDP ratio highest among 34 major economies

7	Top 20% of income earners fuel increase in Q1 consumption as pandemic ends

8	Korea's diplomacy put to test amid signs of thaw in US-China relations

9	Vietnam emerges as major market for Korean chipmakers

10	Local governments appeal to young generations through YouTube

DARKROOM