SEOUL, Feb. 4 (Korea Bizwire) — The South Korean Ministry of the Interior and Safety announced on February 3 that it will expand benefits for consumers who help identify or frequently patronize businesses designated as “Good Price Shops” — establishments recognized for providing quality goods and services at reasonable prices. Under the new initiative, consumers who [...]
SEOUL, Feb. 4 (Korea Bizwire) — The era of predawn queues for luxury goods appears to be waning among South Korea’s young consumers, who are increasingly turning to budget-friendly alternatives known as “dupes” — affordable replicas of high-end products. The term “dupe,” derived from “duplicate,” refers to cost-effective substitutes for luxury or premium items. According to [...]
MEXICO CITY, Feb. 4 (Korea Bizwire) — South Korean companies operating in Mexico have expressed cautious relief after the U.S. and Mexican governments agreed to postpone a planned 25% tariff on Mexican exports for one month. However, with the tariff still looming as a possibility, businesses remain on high alert, preparing for potential disruptions. Kia Mexico, a [...]
SEOUL, Feb. 3 (Korea Bizwire) — The Bank of Korea (BOK) disposed of nearly 3.38 trillion won ($23.1 billion) worth of damaged or contaminated banknotes and coins in 2024, a slight decrease from the previous year. According to a report released on Monday, the central bank discarded approximately 474.89 million currency units last year, down 1.9% [...]
SEOUL, Feb. 3 (Korea Bizwire) — As the global streaming market enters a period of maturity, industry players are shifting their focus from fierce competition to strategic partnerships and content diversification. This evolving landscape is expected to provide subscribers with a wider array of choices while fostering cross-generational engagement through both short-form content and classic [...]
SEOUL, Feb. 3 (Korea Bizwire) — The South Korean auto industry is bracing for significant disruptions after U.S. President Donald Trump announced new universal tariffs on the country’s largest trading partners, including Canada, Mexico, and China. The move is expected to have immediate financial implications for South Korean automakers and suppliers, particularly those that have [...]
SEOUL, Feb. 3 (Korea Bizwire) — In a steamy scene from Netflix’s “Single’s Inferno” Season 4, a matched couple shares a bed in what’s dubbed “Paradise,” an upscale resort. The camera lingers as they rustle under the same blanket late at night, with one participant whispering, “Isn’t this moving too fast?” This scene, featured in the [...]
SEOUL, Feb. 3 (Korea Bizwire) — Global executives have identified the automotive sector as the industry likely to face the most significant disruption this year, according to a new survey. The research also revealed that amid the rise of China’s low-cost AI system DeepSeek, 8 in 10 executives believe artificial intelligence will positively impact their industries. [...]
SEOUL, Feb. 3 (Korea Bizwire) — LG Electronics has completed a major expansion of its LG Science Park in Seoul’s Magok district, reinforcing its status as the company’s global research and development (R&D) control tower. The expansion consolidates nearly 10,000 domestic R&D employees into the country’s largest corporate R&D center. The company announced on Monday that [...]
SEOUL, Feb. 3 (Korea Bizwire) — Nearly half of South Korean men in their 20s and 30s are classified as obese, while about 30% of young adults are in the pre-diabetes or pre-hypertension stage, according to a new study highlighting alarming health trends among the country’s younger population. The findings, published in a recent issue [...]