SEOUL, Jan. 10 (Korea Bizwire) – South Korea’s elderly population aged 70 and older outnumbered those in their 20s for the first time last year, government statistics showed Wednesday, as the society is rapidly aging amid record low birth rates. According to the resident registration data compiled by the interior ministry, the number of people [...]
SEOUL, Jan. 9 (Korea Bizwire) – The Korean dining industry is increasingly adopting the ‘shop-in-shop’ concept, offering a win-win strategy that attracts attention. This approach allows businesses to enhance brand recognition through specialized stores while providing customers the convenience of exploring a variety of items in one location. According to industry reports from January 8, Lotte [...]
SEOUL, Jan. 8 (Korea Bizwire) –In a bold move to overcome fierce economic headwinds, department stores and large supermarkets in South Korea are focusing on improving their offline presence, increasing experiential content in their stores to prolong customer visits and boost sales. According to industry insiders, the strategy to encourage longer stays aims to transform [...]
SEOUL, Jan. 6 (Korea Bizwire) –In a recent development that has stirred considerable controversy, a YouTuber successfully cloned their deceased pet dog, leading to the birth of two puppies. This act has drawn sharp criticism from animal protection organizations, which have denounced the practice of dog cloning as both dangerous and unethical. The YouTuber, who [...]
SEOUL, Jan. 6 (Korea Bizwire) – In a nation grappling with low birth rates, a controversial debate is taking root among its younger generation. The crux of the argument: Should financial status be a barrier to starting a family? This discourse, which is gaining momentum on social media, pits the ideal of preventing the inheritance of [...]
SEOUL, Jan. 5 (Korea Bizwire) – As the new year dawns, persisting high inflation continues to impact South Korea’s MZ generation (Millennials and Generation Z), prompting them to find various ways to tighten their belts. These younger generations are not only increasing their income through ‘side hustles’ or frugal financial planning but are also looking for [...]
SEOUL, Jan. 5 (Korea Bizwire) – Experts have identified confirmation bias as the most critical socio-psychological phenomenon that South Korean society needs to guard against this year. The Korean Social and Personality Psychological Association (KSPPA), following a survey among its members, has announced confirmation bias as the key socio-psychological phenomenon to watch in 2024. Established in [...]
SEOUL, Jan. 5 (Korea Bizwire) -- The South Korean government has decided to substantially increase the number of foreign workers at industrial sites and in rural areas this year, in response to the population crisis and labor shortage. The government is also considering the introduction of long-term employment incentives to encourage skill development among foreign workers [...]
SEOUL, Jan. 4 (Korea Bizwire) –South Korea is witnessing a significant impact on its education sector due to a sharp decline in the school-age population, a consequence of the country’s critically low birth rate. This year, the number of students entering elementary school has fallen below 400,000, and it’s anticipated to soon drop below 300,000. [...]
INCHEON, Jan. 3 (Korea Bizwire) – On the first day of 2024, a joyous event took place at the Gachon University Gil Hospital: the birth of a healthy baby girl weighing 3.4 kg. The newborn, affectionately nicknamed ‘Horam’, combines the characters ‘Ho’ from her father Choi Ho-kyu (40) and ‘Ram’ from her mother Kim Bo-ram (36). [...]