SEOUL, Jul. 25 (Korea Bizwire) – The South Korean government has joined forces with the cosmetics industry to nurture small and medium-sized enterprises (SMEs) in the K-Beauty sector, a move that aims to solidify the country’s position in the global beauty market. Korean cosmetics, already a top export item for SMEs, have gained worldwide popularity. On [...]
SEOUL, Jul. 22 (Korea Bizwire) — Alibaba.com, China’s largest online marketplace, said Monday it will open an exclusive website for South Korean companies next month, reflecting a growing demand from B2B buyers for Korean-made products. Korean products have been available at the Chinese platform, but there has been no such site that showcases only the [...]
SEOUL, Jun. 3 (Korea Bizwire) — The government will extend greater tax benefits and tailored support to smaller companies to help them become second-tier midsized firms in an effort to create quality jobs and spur growth momentum, the finance ministry said Monday. A set of such supportive measures were presented during an economic ministers’ meeting [...]
SEOUL, Sept. 21 (Korea Bizwire) – More than four out of 10 small and medium-sized enterprises (SMEs) that have filed patent applications have suffered damages from technology theft but did not take separate measures due to difficulty in verifying the extent of the damages. The Korea Federation of Small and Medium Business conducted a ‘Policy Demand [...]
SEOUL, Oct. 28 (Korea Bizwire) — Small and medium-sized enterprises (SMEs) account for an absolute majority of businesses in South Korea, with their workforces taking up nearly 83 percent of all corporate employees, data showed Thursday. As of 2019, smaller firms in Asia’s fourth-largest economy numbered 6.89 million, up 3.8 percent from a year earlier [...]
SEOUL, Mar. 7 (Korea Bizwire) — South Korean medium-sized companies held a press conference in Japan on Wednesday accusing Lotte Group subsidiaries of resorting to unfair treatment. The Association of Lotte Victims, with Rep. Chu Hye-seon from the South Korean minor opposition Justice Party, exposed six cases of medium-sized companies and business owners falling victim [...]
SEOUL, Jan. 13 (Korea Bizwire) – The gap in research and development (R&D) investment between South Korea’s small and medium-sized businesses and big companies is widening, a local think tank said Sunday, a development that can pose economic challenges going forward. The report by the Korea Small Business Institute (KOSBI) showed that while small and medium-sized enterprises [...]
SEOUL, Nov. 29 (Korea Bizwire) — Small to mid-sized firms are asking the government to modify pension requirements, arguing that paying half of the national pension dues for foreign workers with E-9 visas is unreasonable. The Korea Federation of SMEs (KBIZ) sent a letter to the Ministry of Health and Welfare on Wednesday asking the [...]
SEJONG, Nov. 5 (Korea Bizwire) — Small and midsize manufacturing firms in South Korea have suffered the sharpest drop in output in nine years in 2018 due mainly to a slump in the country’s automaking and shipbuilding sectors, government data showed Monday. Production by smaller manufacturers with fewer than 300 employees shrank 4.3 percent on-year [...]
SEOUL, Sept. 6 (Korea Bizwire) — A new measure that would punish large corporations or public institutions for stealing technology owned by small and mid-sized companies is being pushed forth by the government. According to the proposed policy, organizations would have to pay 10 times the estimated value of the technology if found to have [...]