Small Businesses Hit Hard by Slow Economy
Small businesses have suffered more than a 10-percent decline in sales so far this year compared to the same period of 2017. This is due to a chronic slowdown in private consumption compounded by declining export growth. Small-business data show average monthly sales of W33.72 million, down 12.3 percent compared to the same period of 2017.
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Exports Slip in June
NATIONAL/POLITICS
USFK Command Poised to Move to New Headquarters
The U.S. Forces Korea Command and the UN Command headquarters relocate to their new multibillion-dollar headquarters in Pyeongtaek next week. USFK headquarters finally moves out of the old garrison in Yongsanit has occupied for 73 years.
NORTH KOREA
N.Korea-China Exchanges Multiply Fast
North Korea and China are rapidly boosting exchanges that could significantly blunt international sanctions against the rogue regime. North Korea's Air Koryo will launch a direct flight to Xian, bringing regular flights to China to five.
BUSINESS
Mini Airline to Start Gwangju-Gimpo Flights Next Week
Air Philip said Thursday that it was recently given approval from the Ministry of Land, Infrastructure and Transport and will fly three times a day between Gwangju and Gimpo near Seoul.