SEOUL, Feb. 3 (Korea Bizwire) — In a sign of shifting market dynamics, new applications for reverse mortgages in South Korea increased while cancellations decreased as the real estate market showed signs of cooling at the end of last year. According to data from the Korea Housing Finance Corporation’s housing finance statistics system, new reverse mortgage [...]
SEOUL, Feb. 2 (Korea Bizwire) — LG Electronics has officially launched the ‘LG StandbyME 2’ in the domestic market, marking the first major update to its popular lifestyle screen series in four years. The new model enhances mobility and usability, featuring an improved moving-wheel system and versatile viewing angles. One of the key innovations of the [...]
SEOUL, Feb. 2 (Korea Bizwire) — Four out of 10 foreigners visiting South Korea for medical treatment said the country’s culture influenced their decision to come here, a survey showed Sunday. More than 41 percent of those surveyed answered positively when asked if the cultural experience in South Korea influenced their decision to receive medical [...]
SEOUL, Feb. 1 (Korea Bizwire) — South Korea’s e-commerce giants are increasingly venturing into the luxury goods market, seeking new revenue streams amid a slowdown in industry growth over the past few years. According to industry sources, online retailer Kurly launched a luxury shopping platform in December 2024, offering 990 products from over 30 high-end brands, [...]
SEOUL, Feb. 1 (Korea Bizwire) — Sales of imported luxury cars priced over 100 million KRW (approximately $70,000) declined in South Korea for the first time in eight years, impacted by economic downturns and new regulations on corporate vehicle registration. According to the Korea Automobile Importers & Distributors Association (KAIDA), 62,520 high-end imported vehicles were sold [...]
SEOUL, Jan. 31 (Korea Bizwire) — A new report reveals that South Koreans with higher incomes are significantly more likely to engage in physical activities such as walking, aerobic exercise, and strength training, exacerbating health disparities linked to income levels. According to the 2024 National Health Statistics released by the Korea Disease Control and Prevention Agency [...]
SEOUL, Jan. 31 (Korea Bizwire) — While students, parents, and teachers broadly acknowledge the authority of teachers as professionals, a new survey reveals a significant gap between this recognition and the actual respect and autonomy afforded to educators in South Korea. According to a report by the Korea Educational Development Institute (KEDI), more than 80% of [...]
SEOUL, Jan. 31 (Korea Bizwire) — South Korea’s K9 self-propelled howitzer, already a global bestseller, is positioned to expand its market reach even further, commanding approximately half of the world’s self-propelled artillery export market. Industry sources and international defense organizations report that while exact statistics vary due to the confidential nature of defense contracts, the K9′s [...]
SEOUL, Jan. 30 (Korea Bizwire) — In a first for local governments in South Korea, Seoul has launched the ‘Seoul Data Hub,’ an AI-powered public data platform that allows users to access city data using natural language queries. The service, which integrates generative AI technology, enables both experts and ordinary citizens to conveniently obtain information. Users [...]
SEOUL, Jan. 30 (Korea Bizwire) — As South Korea approaches the milestone of 10 million senior citizens aged 65 and older, businesses are being urged to tap into the rising purchasing power of this demographic, according to a new report from the Korea Chamber of Commerce and Industry (KCCI). The report, titled ‘GG Market Strategy Report,’ [...]