Category: Business Services

  • Korea to create stable environment for foreign businesses: finance minister

    Korea to create stable environment for foreign businesses: finance minister

    South Korea’s finance minister said Thursday that Asia’s fourth-largest economy has strong economic and financial fundamentals to overcome the current headwinds stemming from the domestic political turmoil and a global economic slowdown. The recent political turbulence sparked by the impeachment of President Park Geun-hye is feared to weigh on the economy, which is experiencing a […]

  • Gucci owner meets Korea's retail giants

    Gucci owner meets Korea's retail giants

    Kering CEO Francois-Henri Pinault came to Korea, Wednesday, to meet owners and CEOs of retail giants here, according to industry sources. Kering, which changed its name from PPR in 2013, is the French luxury goods holding company owner of more than 20 luxury sport and lifestyle brands including Gucci, Bottega Veneta, Saint Laurent Paris, Balenciaga, […]

  • Subcontractors see improvement in business with big firms: survey

    Subcontractors see improvement in business with big firms: survey

    About 70 percent of subcontractors say that their business environment with big companies is improving, as their clients expand cash payments to help protect their profitability, a survey showed Thursday. Under the so-called “shared growth” policy, South Korea has urged big firms not to hand over their losses to their suppliers with unfair transactions. The […]

  • Korea needs another route for growth

    Korea needs another route for growth

    SINGAPORE ― South Korea should develop a new growth driver to pull the economy out of its low growth trap and catch up with the world’s richest economies, such as the U.S., according to Tim Condon, chief Asian economist at ING. He said that export-dependent countries like Korea should come up with new strategies to […]

  • Citibank introduces new concept of wealth management in Korea

    Citibank introduces new concept of wealth management in Korea

    Citibank Korea will challenge the current adverse conditions in the banking industry with a new business model for wealth management instead of seeking quantitative growth, said CEO Park Jin-hei on Thursday. Despite falling profits this year, Park has decided to focus on materializing a new concept of wealth management and “smarter mobile banking” for Korean […]

  • KOIMA to ease US trade pressure on Korea

    KOIMA to ease US trade pressure on Korea

    The association of 8,000 importers here will send a trade delegation to the United States and take other steps to ease growing U.S. pressure on Korea to import more from, and export less to, the world’s largest economy, its representative said Tuesday. In an interview with The Korea Times, Korea Importers Association (KOIMA) Chairman Shin […]

  • Google releases latest translation, image services in Korea

    Google releases latest translation, image services in Korea

    Google Korea on Tuesday unveiled its latest services — Google Translate and Google PhotoScan — using highly advanced operations in artificial intelligence. “The main breakthrough (of the Neural Machine Translation) is that translations are made in one sentence, rather than bits, so it’s more accurate and natural,” Barak Turovsky, a group product manager for Google […]

  • Korea leads world in penetration of fast broadband Internet

    Korea leads world in penetration of fast broadband Internet

    South Korea ranked first worldwide in terms of the penetration rate of fast broadband Internet, which transmits data at a speed of over 100 Mbps (megabits per second), according to a report by KT Corp. on Tuesday. About 14.9 percent of South Korea’s total population, or 7.58 million people, subscribed to the fast broadband Internet […]

  • Korea to promote cruise travel in China

    Korea to promote cruise travel in China

    South Korea will step up efforts to attract more cruise travelers from inner cities of mainland China to tap deeper into the promising market, the state-run tourism agency said Thursday. The Korea Tourism Organization (KTO) will hold a presentation in the northwestern Chinese city of Xian from Saturday to Sunday to introduce cruise travel programs […]

  • Free trade with Korea creates jobs in US: vice finance minister

    Free trade with Korea creates jobs in US: vice finance minister

    The Free Trade Agreement between South Korea and the US has been helpful in creating jobs in the US through Korean companies that have invested in the American market, Korea’s vice finance minister said. “South Korea and the US have established economic cooperation that mutually benefited each other and the Korea-US FTA is an example,” […]