SEOUL, KOREA – Where there is a will, there is a way. But in Europe where Greek’s economic crisis is swamping the EU members, people are losing their will to find a way. They as a result stop spending, and consumer markets contract. In the United States, though news reports are willing to show signs of reviving economy, it still is a long way to go. And Korea, as one of the world’s few economic po

SEOUL, KOREA — Recent reports in the foreign press have taken a closer look at Korea’s past development and its current progress as a leader in technological innovation and business.The June 24 edition of Spain’s largest daily newspaper El Pais included a special two-page spread on Korea’s importance as a launch site for future technologies and trends.“Scenes from the Seoul Metro give us a pre

SEOUL, KOREA — More than 8 out of 10 Korean consumers(82 percent) think that Korea is in an economic recession, according to a new study from Nielsen, a leading global provider of information and insights into what consumers watch and buy. Nielsen’s study shows that more than half of these respondents (53 percent) say that Korea will not be out of recession in the next 12 months.The Nielsen Glob

“South Korea, the center of global investment pipelines, is one of the most attractive destinations for investment in the world. Korea, which has successfully hosted a series of international events, such as the 2010 G20 Seoul Summit, the 2012 Nuclear Security Summit and Expo 2012 Yeosu Korea and entered into the KORUS (Korea and the U.S.) FTA, is growing into the hub of Asia-bound investment. In

SEOUL, KOREA - KB Financial Group has staged large-scale social contribution activities under the campaign slogan "We think of the people first."Through its 1,200 "KB Star Dream Service Corps," the entirety of the group's 25,000 executives and staff members will engage in the campaign for "one person, one service activity" throughout the country, KB Financial Group Chairman Euh Yoon-dae said. "T

SEOUL, KOREA — Global consumer confidence increased five index points to 94 in Q1 2012 compared to Q4 2011, hitting record high since Q3 2007 (94 points) and showing a sign of recovery, according to global consumer confidence findings from Nielsen, a leading global provider of information and insights into what consumers watch and buy.According to The Nielsen Global Survey of Consumer Confidence

SEOUL, KOREA — Moody’s, a US credit rating agency, upgraded Korea’s sovereign credit rating from Stable to Positive on April 2, 2012.    The credit rating corporation, which rated Korea’s credit as A2 or Stable in 2007, and maintained the rating on April 14, 2010, upgraded the country’s rating to A1 or Positive on April 2, 2012.      Today’s  upgrade  is  the  result  of  the  improvement  of  fis

SEOUL, SOUTH KOREA- Ms. Samjeen Yun, Research Analyst, Automotive Practice Asia Pacific at Frost & Sullivan said that the South Korean telematics market is expected to reach the advanced growth phase from 2012 to 2015. She noted that the commercial vehicle telematics market in South Korea is mainly driven by the aftermarket as original equipment (OE) telematics service is not available currently.

SEOUL, KOREA — Korea ranked fourth among OECD nations in the fourth quarter of 2011. Korea's GDP last quarter increased 3.4 percent more than double the OECD average of 1.3 percent.  With the economic downfall in the euro zone and a decrease in the Japanese economy, OECD nations saw their average growth rate decrease 0.4 percentage points from the previous quarter. The Bank of Korea and the OEC

SEOUL ― The competition among retailers in Korea to lower prices has intensified. Starting with eliminating distribution channels, retailers now produce private brand (PB) products to offer products at lowest prices. Large discount stores such as E-mart and Lotte Mart have started selling half-priced products since last year and are continuing to launch new products at half price. The Dream Vi

 The Korea Credit Guarantee Fund (KODIT) will actively support small and medium-sized enterprises (SMEs) this year through its extension of credit guarantees, the top official of KODIT said.“Mainly because of protracted global economic slowdown and the opaque economic prospects for the Korean economy, the nation’s SMEs are expected to face serious difficulties this year,” said Ahn Taik-soo, chai

SEOUL, KOREA -- Some experts suggest that South Korea may face another foreign exchange crisis if the North Korean regime were to collapse following the death of Kim Jong-il. In a report entitled "Advent of Kim Jong-un Regime in North Korea and Uncertainty of South Korean Economy", published on December 22, LG Economic Research Institute (president: Kim Ju-hyeong) offered four scenarios that coul

SEOUL, KOREA --- After the death of North Korean leader Kim Jong-il was announced, news media, governments and companies around the world reported and commented on the news.The KOTRA collected such information through its worldwide network.The U.S. news media worried about the instability of the Kim Jong-un regime and North Korea’s military provocation. The Wall Street Journal predicted that t

As a type of flexible electronics, Flexible flat cable (FFC) refers to any electrical cable that is literally flat and flexible. FFC specifically represents the extremely thin flat cable that can be commonly found in laptops and cellphones, and it is also the flat and flexible miniaturized ribbon ca

Korea Credit Guarantee Fund (KODIT) will stage active campaigns to create 110,000 jobs in 2011 in keeping with the government's efforts to solve the youth jobless problem, a top manager of the fund said. "Following 2010, the high unemployment rate of youths has been emerging as the most urgent task to be solved. Accordingly, we will make a strong push for campaigns to increase jobs for young peopl

The topic of Green Growth has not had a large part in past G20 discussions. However, recently the Seoul G20 Summit has decided to look at the issues surrounding green growth more closely.Mexico's President, Felipe Calderon, delivers a speech at a Green Growth session of the G20 Business Summit i

COEX, Seoul - November 9, 2010 - The Seoul G20 Business Summit is now only two days away. The Seoul G20 Business Summit is a business forum for 120 top business leaders from G20 and non-member countries. They are to collaboratively address "the Role of Business for Sustainable and Balanced Growth" w

Korea Credit Guarantee Fund (KODIT) will expand and differentiate its extension of credit guarantees this year. Ahn Taik-soo, chairperson & CEO of KODIT stated, "We will expand the total volume of credit guarantees by KRW400 billion from KRW42.6 trillion in 2009 to KRW43 trillion in 2010."The total will break down into KRW38 trillion for general credit guarantees and KRW5 trillion for asset back

  Forecasters of 2010 EconomyThe year has come to a near end and people are merely days away from their holiday gifts, New Year resolutions, and nights of champagne and festivities. Sure, everyone has become a year older, and that is a fact. The festivities will die down, the champagne will disappear one way or another and the year 2010 will certainly come, and that is another fact. Howeve

The national trade balance has been US$1.7 billion in the black since February of this year.The Ministry of Knowledge Economy announced that “last month, exports fell by 20.6% year-on-year to US$29.1 billion while imports dropped by 32.2% to US$27.4 billion, but the trade balance was still US$1.7billion in the black.The 20.6% decrement of export was just more improved than last month which was