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,’ [...]
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 [...]