SEOUL, Jan. 28 (Korea Bizwire) — As South Korea’s foreign workforce surpassed the 1 million mark in 2024, demand for job platforms catering specifically to foreign workers and employers has grown significantly. In response, recruitment services such as Job Korea’s Klik and Saramin’s Komate have launched to bridge the gap between foreign job seekers and local [...]
SEOUL, Jan. 28 (Korea Bizwire) — The rapid rise of individual media creators in South Korea has led to significant earnings for top content producers. The top 1% of YouTubers and live-streamers, also known as BJs (Broadcast Jockeys), earned an average of 1.325 billion KRW (approximately $1 million USD) annually, according to data released by Representative [...]
SEOUL, Jan. 28 (Korea Bizwire) — Investors are pouring a large amount of money into funds that invest in U.S. stocks on hopes that President Donald Trump’s “America First” policy would help further boost the U.S. stock market, data showed Tuesday. According to the data from market tracker FnGuide, 167 funds that invest in U.S. [...]
ULJIN, South Korea, Jan. 28 (Korea Bizwire) — The effects of climate change are becoming alarmingly evident in South Korea’s forests, with the iconic Korean red pine, or Geumgangsong, suffering severe declines. In a troubling sign of the broader crisis, the 600-year-old “Great King Pine,” a national forestry treasure located in the protected forest of Sogwang-ri, [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Korea’s three major department store chains said Tuesday their luxury goods sales continued to rise last year on steady demand for premium products despite an economic slowdown. Luxury goods sales at Lotte, Shinsegae and Hyundai department stores sharply increased during the 2020-2022 period when people were engaged in “revenge [...]
SEOUL, Jan. 28 (Korea Bizwire) — Once a cornerstone of youth culture in South Korea, PC cafés—known locally as “PC bangs”—are vanishing at an accelerating rate. According to the National Tax Service’s statistical portal, the number of PC cafés nationwide stood at 7,280 as of October 2024, a sharp 7.6% drop from the 7,858 recorded a [...]
SEOUL, Jan. 28 (Korea Bizwire) — Chipmaking giant SK hynix Inc. has surpassed its biggest rival, Samsung Electronics Inc., for the first time ever in terms of quarterly profit, data showed Tuesday, as its robust sales of artificial intelligence (AI) memory chips pushed up its fourth-quarter figures to record highs. According to its quarterly earnings report, [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s luxury department stores are increasingly reliant on high-spending VIP customers, with their contribution to total sales surpassing 50% at some retailers in 2024, reflecting a growing polarization in consumer behavior amid economic challenges. According to industry data released on January 26, VIP customers accounted for 51% of sales [...]
SEOUL, Jan. 27 (Korea Bizwire) — In 2024, seven of the world’s top 10 shipbuilders by order volume were Chinese, reflecting a shift in global shipbuilding dynamics as Chinese shipyards capitalized on volume-based strategies, according to data released on January 26 by UK-based Clarkson Research. The top four shipyards—New Times Shipbuilding, Hudong-Zhonghua Shipbuilding, Yangzijiang Shipbuilding, and [...]
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 [...]