SEOUL, March 3 (Korea Bizwire) — The financial burden of food expenses for South Korea’s lowest-income households has skyrocketed over the past five years, growing at a significantly faster rate than for higher-income groups. New data reveals that the bottom 20% of earners saw their monthly food expenditures rise by nearly 40%, far outpacing the [...]
SEOUL, March 3 (Korea Bizwire) — Once a haven for budget-conscious shoppers and vintage fashion enthusiasts, South Korea’s secondhand clothing markets are now feeling the strain of high inflation and shifting consumer habits. Vendors at Dongmyo Flea Market, one of Seoul’s most famous thrift-shopping destinations, report a sharp drop in sales, with some saying business [...]
SEOUL, March 3 (Korea Bizwire) — A majority of South Korean workers believe that gender discrimination exists in promotions and job assignments, according to a recent survey conducted by a civic group advocating for labor rights. The organization, Workplace Gabjil 119, commissioned polling firm Global Research to survey 1,000 employed adults aged 19 and older between [...]
SEOUL, March 3 (Korea Bizwire) — Nearly 30% of college graduates hired by South Korea’s leading companies last year had previous work experience, highlighting a growing preference for experienced recruits even at entry-level positions, a new survey shows. According to a recruitment survey of South Korea’s top 500 companies by the Korea Enterprises Federation (KEF), 28.9% [...]
SEOUL, March 3 (Korea Bizwire) — South Korea’s construction industry is showing signs of severe stress across all major indicators, with permits, groundbreakings, and employment all deteriorating amid a persistent market slump that analysts warn will require fundamental strategic shifts to overcome. Construction permits, a leading indicator of industry health, fell 6.8% year-over-year to 125.89 million [...]
SEOUL, March 3 (Korea Bizwire) — South Korea’s three major battery manufacturers are broadening their product lines with new mid-nickel batteries that promise an optimal balance of cost and performance, responding to growing demand for affordable electric vehicles amid efforts to overcome the electric vehicle market’s “chasm” – a temporary stagnation in demand. SK On will [...]
SEOUL, March 3 (Korea Bizwire) — South Korean electronics giants Samsung and LG are reporting sustained growth in India, as both companies intensify their focus on the country’s vast domestic market potential and skilled workforce. According to Samsung Electronics’ latest audit report, its Indian subsidiary recorded sales of 17.05 trillion won and net profit of 1.41 [...]
SEOUL, March 2 (Korea Bizwire) — Chinese electric vehicle giant BYD is facing significant roadblocks in its South Korean expansion, with the launch of its first model, the Atto 3, delayed due to unresolved subsidy approvals. The setback has frustrated consumers who had pre-ordered the vehicle expecting deliveries last month. Industry observers suggest that BYD, struggling [...]
SEOUL, March 2 (Korea Bizwire) — South Korea has introduced stricter regulations on carrying lithium-ion power banks and e-cigarettes aboard airplanes, requiring passengers to keep them on their person and banning storage in overhead bins. The new rules, implemented on March 1, aim to enhance in-flight safety following a fire incident aboard an Air Busan flight [...]
SEOUL, March 2 (Korea Bizwire) — Nearly one in three newly minted Ph.D. holders in South Korea last year remained unemployed, a record-high figure that underscores a tightening job market even for the country’s most highly educated individuals. According to data from Statistics Korea, only 70.4% of Ph.D. recipients who graduated in 2024 had secured employment [...]