SEOUL, Feb. 19 (Korea Bizwire) — South Korean companies are taking bold steps to combat the nation’s record-low birthrate by offering substantial financial incentives to employees who have children. Gaming company Krafton recently announced a groundbreaking birth incentive program, offering employees KRW 60 million ($41,400) upon the birth of a child. Additionally, the company will provide [...]
SEOUL, Feb. 19 (Korea Bizwire) — Cheil Worldwide has unveiled an innovative adoption campaign in collaboration with YouTube channel ‘King of Positivity, Kim Ttangkong,’ introducing ‘Dogppelgänger’—a service that uses artificial intelligence (AI) to match individuals with their lookalike rescue dogs. The name ‘Dogppelgänger’ is a fusion of ‘dog’ and ‘doppelgänger,’ reflecting the campaign’s AI-driven approach [...]
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. 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 [...]
INCHEON, South Korea, Feb. 17 (Korea Bizwire) — A fundraising campaign launched by firefighters in Incheon to support accident victims has surpassed 1.2 billion won ($827,586) in donations over five years, officials announced on February 16. The “119 Miracle” campaign, which began in August 2019, allows participants to donate 119 won daily to assist victims of [...]
SEOUL, Feb. 17 (Korea Bizwire) — Five years after the implementation of South Korea’s 52-hour workweek, three out of four corporate research divisions report declining research and development (R&D) performance, according to a new survey. The findings, released on February 16 by the Korea Chamber of Commerce and Industry (KCCI) in collaboration with the Korea Industrial [...]
SEOUL, Feb. 17 (Korea Bizwire) — If the Trump administration moves forward with tariffs on the automotive sector, South Korea and Japan are expected to be among the hardest-hit nations outside North America, according to industry analysts. A report from CNBC on February 13, citing consulting firm GlobalData, highlighted that South Korea and Japan accounted [...]
SEOUL, Feb. 16 (Korea Bizwire) — South Korea’s Housing and Urban Guarantee Corporation (HUG) has introduced a stringent “one-strike-out” policy to immediately initiate foreclosure proceedings against foreign landlords who fail to return tenants’ rental (jeonse) deposits, aiming to curb financial risks associated with non-compliant property owners. HUG announced on Friday that the new measure, effective since [...]
SEOUL, Feb. 14 (Korea Bizwire) — As discussions of potential peace negotiations between the United States, Russia, and Ukraine gain momentum, South Korean companies are positioning themselves to participate in what could become one of the largest reconstruction efforts in modern history. Estimates have pegged the cost of rebuilding Ukraine’s war-torn infrastructure at approximately $900 billion, [...]