SEOUL, March 3 (Korea Bizwire) — Once a haven for budget-conscious shoppers and vintage fashion enthusiasts, South Korea’s secondhand clothing markets are now feeling the strain of high inflation and shifting consumer habits. Vendors at Dongmyo Flea Market, one of Seoul’s most famous thrift-shopping destinations, report a sharp drop in sales, with some saying business [...]
SEOUL, March 2 (Korea Bizwire) — More than half of South Koreans spend nearly two hours daily on YouTube, reinforcing its dominance in the country’s digital landscape, according to a report by Mobile Index from IGAWorks released on March 2. As of February 25, YouTube’s total usage time in South Korea reached 69.65 million hours, the [...]
SEOUL, Feb. 24 (Korea Bizwire) — As health-conscious consumers seek healthier lifestyles and weight management strategies in 2025, South Korea is experiencing a surge in popularity of the “slow-aging” diet, which emphasizes low-glycemic and minimally processed foods designed to slow bodily aging and boost mental wellness. Demand for these healthy meal options has significantly increased, especially [...]
SEOUL, Feb. 24 (Korea Bizwire) — With persistent high inflation straining consumer budgets, “off-price” retail (OPR) stores in South Korea are experiencing rapid growth, enticing customers with premium brand clothing at discounts of up to 90%. Originally emerging in early 20th-century America, off-price retail involves purchasing surplus or past-season items directly from brand owners and [...]
SEOUL, Feb. 23 (Korea Bizwire) — In a strategic move to increase profitability and attract new customers, South Korea’s travel agencies are rapidly expanding their offerings of premium package tours. These upgraded travel experiences remove common frustrations found in budget packages, such as mandatory shopping trips, optional tour fees, and guide tipping, instead emphasizing quality and [...]
SEOUL, Feb. 19 (Korea Bizwire) — Generative artificial intelligence (AI) has emerged as the most desired product in the new subscription application product category among consumers in their 20s and 30s, a poll showed Wednesday. According to the survey conducted recently on 1,000 adults by market research firm Macromill Embrain, 94.8 percent of respondents said [...]
SEOUL, Feb. 19 (Korea Bizwire) — South Korean users of the popular short-video app TikTok are on the rise despite concerns over possible data leakage, an industry data tracker said Wednesday. The monthly active users (MAU) of TikTok and TikTok Lite, which are owned by China-based ByteDance, reached 4.89 million and 4.79 million, respectively, in [...]
SEOUL, Feb. 18 (Korea Bizwire) — Gold and dollar deposits at South Korea’s major banks have reached record highs as investors seek safe-haven assets amid global economic uncertainty and a strong U.S. dollar. According to financial industry data released on February 18, the combined balance of dollar deposits at the country’s five largest banks—KB Kookmin, Shinhan, [...]
SEOUL, Feb. 18 (Korea Bizwire) — Once a popular and low-barrier entry point for entrepreneurs, South Korea’s café industry is now facing an intense survival challenge due to market oversaturation, rising costs, and regulatory pressures. Despite the industry’s rapid expansion, data shows an alarming rate of closures. According to Statistics Korea, as of 2022, the number [...]
SEOUL, Feb. 18 (Korea Bizwire) — A stark disconnect exists between how elderly South Koreans hope to spend their final days and where they actually die, according to a comprehensive study released on February 17 by the National Health Insurance Service Research Institute. The analysis found that while 67.5% of elderly long-term care recipients wish to [...]