SEOUL, Jan. 30 (Korea Bizwire) — The share of monthly rental contracts in South Korea’s housing market reached a record high in 2024, nearing 60% of all lease agreements, as rising interest rates and concerns over rental fraud (in particular jeonse frauds) accelerated the transition away from traditional lump-sum deposits. According to data from the Supreme [...]
SEOUL, Jan. 30 (Korea Bizwire) — Naver has introduced Passkey Login, a new authentication method that allows users to log into their accounts using facial recognition or fingerprints instead of passwords. The move is part of the company’s ongoing efforts to enhance privacy and security. According to industry sources, Naver recently launched the passkey system to [...]
SEOUL, Jan. 29 (Korea Bizwire) — Faced with a sharp decline in monastic ordinations, South Korea’s Jogye Order of Korean Buddhism is striving to engage younger generations in an effort to sustain its future. According to the order, only 81 individuals completed the rigorous process to become novice monks or nuns last year, a significant drop [...]
WASHINGTON, Jan. 29 (Korea Bizwire) — U.S. President Donald Trump will pursue the “complete denuclearization of North Korea,” a White House official said Tuesday, amid questions over whether Trump’s recent reference to the North as a “nuclear power” signaled any policy shift. National Security Council spokesperson Brian Hughes made the remarks shortly after the North’s [...]
SEOUL, Jan. 29 (Korea Bizwire) — South Korea’s fashion and beauty industries are gaining significant traction in Japan, driven by the global popularity of K-pop and Korean dramas. Industry players are leveraging this momentum with targeted efforts to expand their presence in the Japanese market. Leading the charge, companies like Musinsa, CJ Olive Young, and department [...]
SEOUL, Jan. 28 (Korea Bizwire) — The emergence of Chinese AI startup DeepSeek has sent shockwaves through the global tech industry, challenging dominant players like Nvidia and raising questions about the future dynamics of the AI and semiconductor sectors. DeepSeek recently unveiled its advanced AI models, including the V3 large language model and the R1 inference-specialized [...]
JEONJU, South Korea, Jan. 28 (Korea Bizwire) — The planned Saemangeum International Airport in South Korea is at the center of heated debate, with environmental groups and regional authorities clashing over its potential bird strike risks. Following the Jeju Air disaster at Muan International Airport, concerns have intensified about the safety of constructing an airport near [...]
SEOUL, Jan. 27 (Korea Bizwire) — As South Koreans prepare for what will be an unprecedented nine-day Lunar New Year holiday for some, an unusual employment trend is emerging: a sharp increase in short-term jobs caring for pets, from feeding fish to walking dogs. According to the online community marketplace Karrot Market, pet-related job postings have [...]
SEOUL, Jan. 27 (Korea Bizwire) — Data from the National Police Agency has revealed a significant spike in domestic violence incidents during last year’s Lunar New Year holiday period in South Korea, with reports exceeding typical daily averages by 30%. According to police records obtained by Democratic Party lawmaker Yang Bu-nam, authorities received 3,384 domestic violence [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s e-commerce sector saw a challenging 2024, with economic pressures leading to reduced consumer spending across platforms. Despite these headwinds and competition from Chinese e-commerce players like AliExpress and Temu, Coupang and SSG.com maintained strong customer loyalty, according to data released on January 26 by analytics firm IGAWorks. SSG.com [...]