[WEEKEND WRAP] April 6-9

 

Apr 6

[Pulse by Maeil Business News Korea] To revitalize the sagging shipbuilding industry, the Korean government will place orders for 40 vessels worth 5.5 trillion won ($5.2 billion) over the next two years and stimulate domestic demand for LNG carriers and fuel, while keeping its eyes open for a chance to privatize Daewoo Shipbuilding & Marine Engineering Co. (DSME).

Through various aid programs, the government hopes to bump up Korean builders’ share in the global order book to 33 percent by 2022 from an average of 31.7 percent between 2011 and 2015.

Read more here.

Apr 6

[Yonhap] The rise in the real value of the South Korean won compared to other major currencies in recent years has lowered import prices and fueled investments in facilities and private sector consumption.

According to real effective exchange rate (REER) indices compiled by the Bank for International Settlements (BIS), the exchange rate for the South Korean currency has steadily risen and stood at 123.2 points as of the end of January from 115.34 in April 2015. The National Assembly Budget Office (NABO) noted that the possible strengthening of the Korean won “will likely serve as a factor to increase investment in facilities and consumption in the private sector through falling prices of imported goods.”

Read more here.

Apr 8

[Yonhap] The market for air purifiers in South Korea is set to continue expanding going forward, as more consumers are becoming concerned about fine dust levels in the air. Sales of air purifiers in the country are expected to reach around 2 million to 2.5 million units this year, with some expecting the figure to reach as high as 3 million units, industry watchers said.

Industry watchers said more South Koreans are becoming attracted to air purifiers as pollution and fine dust are making it hard for them to open windows at home on certain days.

Read more here.

Apr 8

[Yonhap] South Korea’s IT firms are tapping deeper into the car-sharing industry, as demand for such services is expected to grow sharply over the upcoming years. Samjong KPMG expects the South Korean market for car-sharing services will reach 500 billion won (US$467 million) in 2020, compared with 100 billion won posted in 2016.

As the service is expected to connect deeper into the artificial intelligence and self-driving technologies in the future, local IT and communications companies including  KT Corp., SK Telecom CO., and Kakao Corp., are also forging deeper ties with service providers. 

Read more here.

Apr 9

[Yonhap] The government will provide 9.2 billion won (US$8.6 million) for a job training program for 2,100 unemployed university graduates with degrees in natural science or engineering in an effort to reduce the country’s high youth unemployment.

The government has operated the program every year since 2003 to help a total of 39,457 unemployed gradates in the field. The ministry said the employment rate of the trainees came to 73.9 percent on average.

Read more here.

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