SEOUL, May 21 (Korea Bizwire) – In the heart of Seoul, a rooftop garden has become an oasis for a thriving colony of bees, their gentle buzzing filling the air as they flit from flower to flower. But elsewhere in the city, and in urban centers around the globe, a worrying phenomenon is unfolding: honeybees are [...]
SEOUL, May 21 (Korea Bizwire) – As the South Korean public continues to grapple with high interest rates and soaring consumer prices, credit card loan balances reached an all-time high last month, reflecting the mounting financial strain on ordinary citizens. According to data released on May 20 by the Credit Finance Association, the combined credit card [...]
SEOUL, May 21 (Korea Bizwire) – A tense standoff has emerged between Hyundai Motor Group and the Seoul Metropolitan Government over the proposed height of buildings in the forthcoming Global Business Complex (previously Global Business Center) slated for Seoul’s affluent Gangnam district. The discord centers on the maximum number of floors for the tallest skyscraper in [...]
SEOUL, May 20 (Korea Bizwire) – The average rental income for individuals in the top 0.1% of landlords residing in Seoul neared a staggering 1.3 billion won, highlighting a stark divide in the capital compared to other regions of South Korea. The average for this elite tier in Seoul was 4.7 times higher than in Sejong, [...]
SEOUL, May 20 (Korea Bizwire) – The competition among South Korea’s major food delivery apps — Baedal Minjok, Coupang Eats and Yogiyo — to poach customers from one another is intensifying into a bruising battle. The clash among the three services erupted last year over discounts on delivery fees. After a brief lull, their rivalry reignited [...]
SEOUL, May 20 (Korea Bizwire) – With extending the retirement age emerging as a key issue in this year’s wage and collective bargaining negotiations at major South Korean companies, discussions on the matter are expected to take place at Hyundai Motor, a leader in the country’s automotive industry. On May 19, the Dong-A Ilbo reported that [...]
SEOUL, May 16 (Korea Bizwire) – With the ranks of pet owners swelling in South Korea, pharmaceutical companies are increasingly turning to this burgeoning market as a new frontier for growth, rolling out a diverse array of products ranging from medications to health supplements for furry companions. According to industry sources on May 14, Dong-A Pharmaceutical [...]
SEOUL, May 16 (Korea Bizwire) – The average annual salary for doctors in South Korea surpassed 300 million won in 2022, according to government data on physician workforce and wages released on May 14. The data, submitted by the Ministry of Health and Welfare to the Seoul High Court on May 10, represents the latest official [...]
SEOUL, May 15 (Korea Bizwire) – Low salaries and abusive complaints from parents are the top reasons young teachers in South Korea are leaving the profession, according to a new survey that highlights disillusionment in a field once seen as a stable career path. The poll of over 1,000 teachers in Seoul by the Korean Teachers [...]
SEOUL, May 15 (Korea Bizwire) – At this year’s Lotus Lantern festival in Seoul, one of South Korea’s most celebrated cultural events and a UNESCO intangible heritage, the highlight came from an unlikely figure: a dancing Buddhist monk moving to thumping electronic dance music beats. Donning colorful robes and a headset gifted by the leader of [...]