SEOUL, Feb. 7 (Korea Bizwire) — In a vocational training center in Seoul’s Jung district, Shin Hae-cheong, 72, carefully measures wallpaper and prepares paste for his latest assignment. A real estate agent by trade, Shin traveled from his provincial home to the capital to earn a wallpapering certification — what he hopes will be his ticket [...]
SEOUL, Feb. 6 (Korea Bizwire) — Leading South Korean companies and institutions are increasingly restricting the use of DeepSeek, a Chinese artificial intelligence model, amid concerns over its excessive data collection practices. Kakao, which recently announced an official partnership with OpenAI, became the first major South Korean IT company to prohibit DeepSeek’s use for internal operations, [...]
SEOUL, Feb. 4 (Korea Bizwire) — South Korea’s economic outlook is growing increasingly uncertain as global trade tensions intensify, raising concerns that the country’s real GDP growth rate could fall to the mid-1% range this year. Compounding the risks of domestic political instability, the latest wave of U.S. tariff hikes on key trading partners has further [...]
SEOUL, Feb. 3 (Korea Bizwire) — In a sign of shifting market dynamics, new applications for reverse mortgages in South Korea increased while cancellations decreased as the real estate market showed signs of cooling at the end of last year. According to data from the Korea Housing Finance Corporation’s housing finance statistics system, new reverse mortgage [...]
SEOUL, Feb. 2 (Korea Bizwire) — The rapid advancement of Chinese technology and its increasing presence in South Korean industries have sparked growing concerns among domestic businesses, particularly following the global impact of China’s low-cost, high-performance AI model, DeepSeek. For years, Chinese products were largely perceived in South Korea as inexpensive but inferior in quality. However, [...]
SEOUL, Feb. 2 (Korea Bizwire) — Four out of 10 foreigners visiting South Korea for medical treatment said the country’s culture influenced their decision to come here, a survey showed Sunday. More than 41 percent of those surveyed answered positively when asked if the cultural experience in South Korea influenced their decision to receive medical [...]
SEOUL, Jan. 31 (Korea Bizwire) — A new report reveals that South Koreans with higher incomes are significantly more likely to engage in physical activities such as walking, aerobic exercise, and strength training, exacerbating health disparities linked to income levels. According to the 2024 National Health Statistics released by the Korea Disease Control and Prevention Agency [...]
SEOUL, Jan. 30 (Korea Bizwire) — As South Korea approaches the milestone of 10 million senior citizens aged 65 and older, businesses are being urged to tap into the rising purchasing power of this demographic, according to a new report from the Korea Chamber of Commerce and Industry (KCCI). The report, titled ‘GG Market Strategy Report,’ [...]
SEOUL, Jan. 30 (Korea Bizwire) — The share of monthly rental contracts in South Korea’s housing market reached a record high in 2024, nearing 60% of all lease agreements, as rising interest rates and concerns over rental fraud (in particular jeonse frauds) accelerated the transition away from traditional lump-sum deposits. According to data from the Supreme [...]
SEOUL, Jan. 29 (Korea Bizwire) — South Korea’s fashion and beauty industries are gaining significant traction in Japan, driven by the global popularity of K-pop and Korean dramas. Industry players are leveraging this momentum with targeted efforts to expand their presence in the Japanese market. Leading the charge, companies like Musinsa, CJ Olive Young, and department [...]