Here’s a look at Korea’s major economic indicators that provide an overview of the country’s recent economic developments. Summary and Assessment* ■ The contraction in the Korean economy is gradually moderating. ● Services production continues on a modest upward trajectory, and the sluggishness in manufacturing production is showing signs of…

Status of the Korean Food Industry The food industry is emerging as a promising industry for the future based on the industry’s accelerated convergence with other fields such as high-tech, culture, and tourism and its growing added-value. The Korean food industry grew at an annual average of 8.0% from 2018…

Korea 101: Convenient Apps Here are apps that many Koreans use to make their daily life much more convenient. Apps for each category were selected based on the rankings of Google Play and App Store. The top 1–3 apps were chosen per category. Chat — Kakao Talk KakaoTalk is Korea’s top-ranking mobile messenger app…

All Industries In May 2023, Korea’s total industrial production increased by 1.3%. Led by the mining and manufacturing industries, the recovery has resumed after experiencing an adjustment in the previous month.

Are there any disadvantages when a foreign investor fails to register as a foreign-invested company? Q. Are there any disadvantages when a foreign investor fails to register as a foreign-invested company? A. A foreign investor who fails to register as a foreign-invested company cannot prove that his/her foreign investment has…

Foreign Direct Investment FDI pledges to Korea hit record high in H1 Foreign direct investment (FDI) pledges to S. Korea jumped 54.2 percent on-year in the first six months of this year to reach a record high for any first-half period, data showed Jul. 4. The country received USD 17.09 billion of FDI commitments in the January-June period, compared…

Here’s a look at Korea’s major economic indicators that provide an overview of the country’s recent economic developments. Summary and Assessment* ■ The Korean economy appears to be navigating its economic trough, with a partial easing in the downturn of the manufacturing industry. ● The manufacturing industry shows signs of…

South Korea offers numerous opportunities for foreign entrepreneurs or investors looking to establish multiple businesses. However, navigating the legal and administrative processes can be daunting. That’s why engaging with business service providers can simplify company formation in South Korea. Business service provider professionals possess expertise in South Korean laws and…

Among the many changes that the COVID-19 pandemic has brought, probably the most troublesome development for Korea’s trade would be associated with the weakening value of the yen. Throughout the years before the pandemic, the rate of the Yen was stable — around 110 yen per dollar. Occasionally, the rate…