SEOUL, Nov. 6 (Korea Bizwire) – The number of South Koreans opting to remain economically inactive without specific reasons has gone up by 245,000 this year amid tough job market conditions and economic uncertainties, the statistics agency said Wednesday. The total number of economically inactive individuals came to 16.21 million as of August, up 48,000 [...]
SEOUL, Nov. 6 (Korea Bizwire) – A new survey has revealed that seven out of 10 Korean companies believe extending the retirement age would create significant management challenges due to seniority-based wage systems, according to findings released on November 5 by the Korea Enterprises Federation (KEF). The survey, conducted by Research & Research on behalf of [...]
SEOUL, Nov. 5 (Korea Bizwire) – China’s unprecedented decision to include South Korea in its visa-free policy could redirect the travel patterns of young Korean tourists, who have recently favored Japan as their primary destination in Asia. According to aviation industry sources on November 4, China will implement a visa waiver program for nine countries, including [...]
SEOUL, Nov. 4 (Korea Bizwire) – In response to the recent suicide of a sex worker driven to despair by illegal loan sharks, Seoul Metropolitan Government has announced comprehensive measures to combat predatory lending practices, particularly those targeting vulnerable populations. The city’s initiative, announced on November 3, comes after the tragic death of a single mother [...]
SEOUL, Nov. 2 (Korea Bizwire) – A South Korean government research institute has warned that if Donald Trump returns to the presidency and implements his proposed tariff policies, South Korea could see its exports decline by as much as $44.8 billion (61.7 trillion won). According to a report released on October 31 by the Korea Institute [...]
SEOUL, Nov. 2 (Korea Bizwire) – A new study warns that the proliferation of cashless businesses could disproportionately impact older consumers who rely heavily on cash and have lower digital literacy, according to research released October 31 by the Bank of Korea. The study, conducted by Lee Kyungtae of the Bank of Korea’s Financial and Monetary [...]
RIYADH, Nov. 1 (Korea Bizwire) – South Korea ranked lowest in life satisfaction according to a new international survey released on October 30, highlighting growing concerns about quality of life in one of Asia’s most developed economies. The survey, conducted by Saudi Arabia’s Future Investment Initiative (FII), polled 50,700 adults across 24 countries between July 15 [...]
SEOUL, Oct. 31 (Korea Bizwire) – A group of people with developmental disabilities submitted hand-drawn petitions to a Seoul court on October 29, just days before a crucial appeals court ruling on their lawsuit demanding pictorial ballots to ensure their voting rights. Korea People First and other disability rights organizations displayed the artistic petitions during a [...]
SEOUL, Oct. 28 (Korea Bizwire) – Part-time employment among young workers has doubled over the past decade, leading to an unprecedented rise in non-regular employment among South Korea’s youngest workforce. According to data released by Statistics Korea on October 27, as of August, there were approximately 1.46 million workers in their 20s heolding non-regular positions, representing [...]
SEOUL, Oct. 28 (Korea Bizwire) – In South Korea, high school senior Nam, 18, is doing everything possible to avoid listening to “APT.,” the new collaboration between BLACKPINK’s Rosé and Bruno Mars. Despite the song’s global success, with its infectious melody and repetitive lyrics captivating listeners worldwide, Nam sees it as something best kept at arm’s [...]