SEOUL, May 13 (Korea Bizwire) — South Korea’s eco-friendly market has surged to a valuation of 34 trillion won (approximately $24.7 billion), but consumer participation in sustainable practices is on the decline, a new survey by the Korea Consumer Agency reveals. The nationwide study, which polled 3,200 adults, found that although 66.4% of respondents are currently [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s retail and consumer goods sectors are increasingly turning to character-based intellectual property (IP) marketing to boost engagement and drive sales, tapping into what experts are calling an era of “emotion-driven consumption.” As consumers seek comfort and nostalgia amid prolonged economic uncertainty, brands are capitalizing on familiar or whimsical [...]
SEOUL, May 13 (Korea Bizwire) — A record number of South Koreans are choosing to receive their national pension benefits early—despite steep long-term financial penalties—as rising economic pressure and delayed retirement payouts drive more people to bridge income gaps in their post-retirement years. According to data released by the National Pension Service on Monday, [...]
SEOUL, May 12 (Korea Bizwire) — South Korea’s birthrate continues to decline, but a growing number of unmarried adults now say they still intend to marry—offering a potential, if modest, glimmer of hope in the nation’s battle against population decline. According to a comprehensive 2024 survey released Sunday by the Korea Institute for Health and Social [...]
SEOUL, May 11 (Korea Bizwire) — Once hailed as a global challenger to ChatGPT, China’s generative AI platform DeepSeek is failing to gain traction in South Korea despite resuming downloads late last month after a data privacy-related suspension. According to mobile analytics firm IGAWorks’ Mobile Index, DeepSeek ranked sixth in the domestic AI app market in [...]
SEOUL, May 9 (Korea Bizwire) — South Korean consumers reined in spending on everyday items and luxury goods in the first quarter of 2025, while showing a notable willingness to spend on travel-related expenses, according to new data from mobile analytics platform IGAWorks. The firm’s Mobile Index data, based on estimated credit and debit card transactions [...]
SEOUL, May 7 (Korea Bizwire) — South Korean households raising infants and toddlers spend significantly less on adult leisure and cultural activities than their childless peers, highlighting the personal sacrifices many parents make in the early years of childrearing. According to a new report released Tuesday by the Korea Institute of Child Care and Education, the [...]
SEOUL, May 7 (Korea Bizwire) — Surging gold prices have ignited a wave of investor enthusiasm in South Korea, pushing gold-linked bank deposits to record highs and triggering a nationwide shortage of physical gold bars. According to data from major South Korean banks, gold banking balances — which allow investors to buy and sell gold through [...]
SEOUL, May 6 (Korea Bizwire) — South Koreans in their 20s to 40s increasingly prioritize work over traditional milestones such as marriage, parenthood, and even personal fulfillment, underscoring a profound generational shift in values as the country confronts economic pressure and demographic headwinds. A report released by the National Integration Committee, based on a survey of [...]
SEOUL, May 6 (Korea Bizwire) — Seven in 10 households made online purchases of processed foods in 2024, a survey showed Tuesday, marking a sharp increase from a year earlier and a significant change in where and how people shop. According to the survey conducted by the Korea Rural Economic Institute, 72.3 percent of households [...]