Manufacturing
South Korea adds 234,000 jobs in February; youth unemployment hits 5-year high
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South Korea added 234,000 jobs in February, marking the fastest on-year growth in five months, though youth employment slumped and construction losses persisted. Youth unemployment for ages 15-29 reached 7.7 percent, the highest for any February since 2021. The total number of employed people rose 0.8 percent to 28.41 million, per Ministry of Economy and Finance data.
One morning in December, Zhang Li arrived at Everwin Toys in Dongguan to find a notice on the factory gates announcing production halt due to over 40% revenue decline from shrinking toy demand and global economic changes. Like her 2,000 colleagues, she had worked there for more than 15 years since her early 20s. “Now I’m in my 40s,” she said. “Where will I find my next job?”
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Samsung Electronics will shut down its TV production plant in Galanta, Slovakia, in May, industry sources said. The closure ends 24 years of operations to improve efficiency. The facility currently employs about 700 workers.
Germany-based Siemens Energy has committed $1 billion to bolster America's power infrastructure, expanding manufacturing across multiple states. The move, announced on Tuesday, is expected to create 1,500 skilled jobs amid rising energy demands from artificial intelligence. Company leaders credit the Trump administration's policies for enabling this growth.
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China is leveraging high-tech manufacturing, including 3D printers, to gain a competitive edge in global markets. In 2025, exports of high-tech products rose 13.2 percent, contributing to overall export growth. Shenzhen firms like Anycubic and Elegoo are expanding overseas through innovation and cost advantages, reaching over 150 countries and regions.
The Egyptian Customs Authority and the National Telecom Regulatory Authority (NTRA) announced the end of the exceptional customs exemption for mobile phones brought by passengers from abroad on Wednesday. Exemptions for phones owned by Egyptians residing abroad and tourists will remain for 90 days. The decision implements the governance system for imported mobile phones, effective from January 2025.
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Egypt's Minister of Public Enterprises Sector, Mohamed El-Shimy, met with representatives from textile and garment industry chambers to strengthen cooperation with companies under the Holding Company for Cotton, Spinning, and Weaving. The meeting focused on expanding private sector partnerships to support local manufacturing, add value, and boost Egyptian exports to global markets.
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