SEOUL, Nov. 3 (Korea Bizwire) — Concerns are growing that year-end consumption activities could drastically cool down if consumer sentiment is dampened due to the impact of the Halloween crowd crush in Seoul’s Itaewon district. According to the Bank of Korea (BOK), South Korea’s consumer sentiment index (CSI) has remained below 100 for five straight [...]
SEOUL, Oct. 28 (Korea Bizwire) — South Korea will funnel 4.12 trillion won (US$2.9 billion) into research and development next year to promote 12 selected strategic technologies as part of the country’s long-term future growth plan, the science ministry said Friday. The Ministry of Science and ICT said in a report released at a meeting [...]
SEOUL, Oct. 24 (Korea Bizwire) — The recent service outage of Kakao Corp. has put a spotlight on seniors sidelined from the digital era, as the inconvenience that the younger generation had to go through for a couple of days is similar to what seniors experience every day. For seniors, Oct. 15-16 were just like [...]
SEOUL, Oct. 23 (Korea Bizwire) — South Korea’s financial authorities announced plans Sunday to expand liquidity supply programs to at least 50 trillion won (US$34.7 billion) as part of efforts to calm corporate bond market jitters. Finance Minister Choo Kyung-ho made the announcement right after an emergency meeting with the central bank chief and top [...]
SEOUL, Oct. 21 (Korea Bizwire) — South Korea’s antitrust regulator said Friday it plans to come up with measures to build grounds for fair competition in the online platform market amid growing criticism that the government has failed to properly monitor Kakao Corp.’s dominant position in the market. The move came after nearly all services [...]
SEOUL, Oct. 17 (Korea Bizwire) — More than half of unmarried South Koreans in their 30s and 40s live with their parents, a recent study showed. The Korea Institute for Health and Social Affairs reported that according to the 2021 National Survey on Fertility and Family Health and Welfare, 49.7 percent of unmarried men and [...]
SEOUL, Oct. 14 (Korea Bizwire) — Close to one-third of unmarried couples living together or who are de facto married have experienced discrimination when applying for government subsidies, a survey showed Thursday. The Korea Institute for Health and Social Affairs conducted a survey of 291 households consisting of 336 men and women between 19 and [...]
SEOUL, Oct. 13 (Korea Bizwire) — The office of President Yoon Suk-yeol is pondering deeply how to cope with intensifying nuclear threats from North Korea amid growing calls that it is time to reintroduce U.S. tactical nuclear weapons to the country or acquire its own nuclear arsenal. Calls for countering nuclear threats with nuclear weapons [...]
SEOUL, Oct. 11 (Korea Bizwire) — The Seoul International Fireworks Festival was held at Han River Park in Yeouido, Seoul on Saturday. Hosted by Hanwha Group and sponsored by the Seoul Metropolitan Government, the festival has been held in September or October every year since 2000. Returning after a two-year hiatus due to the pandemic, [...]
SEOUL, Oct. 10 (Korea Bizwire) — Some 380,000 households in South Korea were found to be at high risk of financial default due to excessive debt burdens, a central bank report showed Monday. According to the Bank of Korea (BOK) report submitted to Rep. Kang Joon-hyun of the main opposition Democratic Party, the number of [...]