SEOUL, Dec. 23 (Korea Bizwire) — South Korea’s financial watchdog warned on Monday that bonus systems at banks and other financial institutions remain overly focused on short-term performance, even as incentive pay surged more than 30 percent last year. The Financial Supervisory Service said total performance-based compensation paid to employees at financial companies reached 1.396 trillion [...]
SEOUL, Dec. 23 (Korea Bizwire) — The South Korean government said it expects domestic petrochemical producers to cut as much as 3.7 million tons of naphtha cracking capacity, a key goal of a sweeping industry restructuring drive aimed at restoring competitiveness in an oversupplied global market. After reviewing restructuring plans submitted by major producers, the Ministry [...]
SEOUL, Dec. 23 (Korea Bizwire) — The share of South Koreans who play video games has fallen to its lowest level on record, underscoring a rapid shift in leisure habits as streaming platforms and short-form video content gain dominance, according to a new government-backed survey. A nationwide study released Monday by Korea Creative Content Agency found [...]
SEOUL, Dec. 22 (Korea Bizwire) — As weight-loss drugs gain popularity in South Korea, gyms that once thrived on New Year’s diet resolutions are beginning to feel the strain. Fitness centers across Seoul report a noticeable shift in consumer behavior as more people turn to prescription obesity treatments such as Wegovy and Mounjaro instead of exercise [...]
SEOUL, Dec. 22 (Korea Bizwire) — As soaring prices and rising gold costs strain household budgets, South Korea’s long-standing tradition of lavish first-birthday celebrations for infants, known as doljanchi, is steadily giving way to smaller, more private observances. Once marked by banquet halls, elaborate ceremonial tables and gold rings given as gifts, doljanchi has increasingly been [...]
SEOUL, Dec. 22 (Korea Bizwire) — Son Heung-min’s picturesque free kick goal has been chosen by fans as South Korean football’s best goal of 2025. The Korea Football Association (KFA) announced Monday that Son’s right-footed curler in a 2-0 friendly win over Bolivia on Nov. 14 has been voted as the 2025 KFA Goal of [...]
SEOUL, Dec. 22 (Korea Bizwire) — Recurring mislabeling of down insulation in winter jackets has once again stirred controversy in South Korea, prompting consumer groups to demand stronger oversight and tougher penalties for deceptive practices in the fashion industry. The latest dispute centers on outdoor apparel giant The North Face, operated by Youngone Outdoor, which disclosed [...]
SEOUL, Dec. 22 (Korea Bizwire) — A large majority of South Koreans believe food delivery platforms should be the first targets of government regulation, reflecting growing public frustration over rising delivery fees and platform commissions, according to a new nationwide survey. More than 87 percent of respondents said they agree that delivery apps require stronger oversight, [...]
SEOUL, Dec. 22 (Korea Bizwire) — CJ CheilJedang is stepping up efforts to introduce Korean traditional spirits to global consumers, beginning with a promotional event in New York aimed at pairing Korean liquor with contemporary Korean cuisine. The company said it recently hosted a tasting and pairing event, titled The Korean Table – Sip & Pair [...]
SEOUL, Dec. 22 (Korea Bizwire) — Samsung Electronics said it will unveil a new generation of AI-powered kitchen appliances at CES 2026, introducing what it calls the world’s first home appliance equipped with Google’s latest artificial intelligence model, Gemini. Ahead of the world’s largest consumer electronics show, which opens Jan. 6 in Las Vegas, Samsung Electronics [...]