[WEEKEND WRAP] APRIL 13-16

Apr 13

[Yonhap] South Korea’s economy is maintaining its current recovery pace on the back of brisk exports and increased private spending and investment, according to a government report.

The report, called the “Green Book,” is based on the latest economic indicators of such key factors as output, exports, consumption and corporate investment, which provide clues as to how the economy has been faring in recent months.

Read more here.

 

Apr 15

[Pulse by Maeil Business News Korea] South Korea next year will open its first aerospace parts testing institution to speed up the country’s plan to build its indigenous space launch technology. The aerospace testing center will open officially in the end of next year after trial operations.

Although technical skills and development capacity of Korean aerospace companies have reached a matured stage, the absence of a dedicated center for testing performance of manufactured aerospace parts has impeded the further development of the country’s space program.

Read more here.

Apr 16

[Yonhap] The government will create a center in central Seoul for startups led by young people as part of efforts to boost innovative growth and reduce youth unemployment.

The center in Mapo, central Seoul, will house some 300 startups and provide necessary support measures.The government has been reviewing an option to provide funds and rental space at affordable rates to create startups and cultural space for youths.

Read more here.

Apr 16

[Yonhap] SK Holdings Co. on Monday showcased a new human resources solution that utilizes artificial intelligence (AI) technology, allowing clients to simplify the process of reviewing resumes.

The company said it applied the “Aibril HR” program in the recruitment process of its chip-making affiliate, SK hynix Inc., in January, which cut the time needed to review an applicant by three seconds. The gap between grades given by the AI solution and actual staff was within 15 percent.

Read more here.

Apr 16

[Yonhap] South Korea’s sportswear market is expected to surpass the 2 trillion won (US$1.87 billion) mark in size this year, a report showed Monday.

The market size for sports fashion tripled from 500 billion won in 2009 to 1.5 trillion won in 2016, Lotte Shopping Co. said, citing a report from the Korea Research Institute for Fashion Industry.

Read more here.

 

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