SEOUL, Dec. 30 (Korea Bizwire) — As the won-dollar exchange rate soars to nearly 1,500 won, small and medium-sized enterprises (SMEs) in South Korea are grappling with mounting challenges, including volatile currency markets and the looming enforcement of stricter labor regulations. The steep rise in the exchange rate—up from the 1,300-won range earlier this year—has [...]
SEOUL, Dec. 30 (Korea Bizwire) — South Korean stock markets have shed more than 250 trillion won in market capitalization this year, standing in stark contrast to the record-setting rallies seen in other major global markets. According to the Korea Exchange, as of December 27, the main KOSPI market’s capitalization stood at 1,966.96 trillion won, while [...]
SEOUL, Dec. 30 (Korea Bizwire) — Samsung Group, South Korea’s largest conglomerate, has seen its market capitalization plummet by over 160 trillion won this year, marking a significant contraction in its dominance on the domestic stock market. As of December 26, the total market value of Samsung’s 22 listed companies, including Samsung Electronics, Samsung Biologics, [...]
SEOUL, Dec. 30 (Korea Bizwire) — As South Korea’s aging population continues to grow, the incidence of cardiovascular diseases such as heart attacks and strokes has risen significantly. According to data released by the Korea Disease Control and Prevention Agency (KDCA) on Sunday, these conditions claim the lives of a significant portion of patients within [...]
SEOUL, Dec. 30 (Korea Bizwire) — South Korea’s Ministry of Land, Infrastructure, and Transport announced plans to increase the priority housing allocation for families with newborns under its special housing supply program for newlyweds. Under new rules, the allocation for such families will rise from 20% to 35%, reflecting a significant shift aimed at addressing [...]
JEJU, Dec. 30 (Korea Bizwire) — Jeju’s government-run food delivery app Mukkebi has achieved a milestone of over 10 billion won ($7.5 million) in cumulative transactions just two years after its launch in December 2022. According to the Jeju Provincial Government, as of December 23, 2024, the platform has registered 44,064 members and 3,352 partner restaurants. [...]
SEOUL, Dec. 30 (Korea Bizwire) — Samsung Electronics announced on December 29 that it has added a new “Home Appliance QR Mode” to its AI-powered visual assistance app “Sullivan Plus,” making it easier for users to locate QR codes on Samsung home appliances. Sullivan Plus, developed by startup TUAT, is a service for visually impaired users [...]
SEOUL, Dec. 30 (Korea Bizwire) — Starbucks Korea announced its top 10 best-selling beverages of 2024, with the classic “Café Americano” once again claiming the top spot. Following closely was the “Café Latte,” maintaining its second-place ranking since the company began tracking sales rankings in 2009. For the first time, a tea-based drink, “Grapefruit Honey Black [...]
SEOUL, Dec. 30 (Korea Bizwire) — LG Electronics announced on December 29 that it plans to more than double the scope of its “Easy Appliance Project” next year, increasing both the number of participating institutions and beneficiaries. The company, in partnership with the Korea Association for Rehabilitation of the Disabled, has already selected 10 welfare centers [...]
SEOUL, Dec. 29 (Korea Bizwire) — A tragic plane crash at Muan International Airport on December 29 has brought renewed scrutiny to South Korea’s aviation safety record. Over the past decade, 67 accidents involving Korean-registered aircraft have claimed 59 lives, according to the Ministry of Interior and Safety’s 2023 Disaster Yearbook. The crash, involving a Jeju [...]