SEOUL, Dec. 10 (Korea Bizwire) – The growth in South Korea’s employment insurance registrations reached its lowest point in nearly four years, highlighting a slowdown in the labor market as the country faces a range of economic headwinds. According to the Ministry of Employment and Labor, the number of regular employment insurance subscribers increased by [...]
SEOUL, Dec. 10 (Korea Bizwire) – The proportion of single-person households in South Korea surpassed 35% in 2023, reaching an all-time high, according to a report released by Statistics Korea on December 9. This shift reflects broader societal changes, including aging demographics and evolving living arrangements. Single-person households totaled 7.83 million last year, accounting for [...]
SEOUL, Dec. 10 (Korea Bizwire) – South Korea’s economy is grappling with mounting challenges, as domestic construction downturns and global trade uncertainties weigh heavily on growth prospects, according to a report by the Korea Development Institute (KDI) on December 9. While the report notably avoided direct mention of the ongoing political turmoil surrounding President Yoon [...]
SEOUL, Dec. 10 (Korea Bizwire) – Major South Korean cryptocurrency exchanges have initiated compensation procedures for service disruptions that occurred during the December 3 martial law crisis. The exchanges are accepting compensation claims to minimize investor losses caused by access problems and delayed transactions, with some already having completed partial reimbursements. According to industry sources, leading exchanges [...]
ULSAN, Dec. 10 (Korea Bizwire) – The city of Ulsan is embarking on an ambitious project to develop autonomous manufacturing technology based on Software-Defined Factory (SDF) systems, aimed at advancing its automotive industry capabilities. The initiative kicks off with a two-day technical conference and workshop at the Westin Josun Busan beginning December 9, focusing on core AI [...]
SEOUL, Dec. 9 (Korea Bizwire) – South Korea’s real estate market is grappling with uncertainty following the December 3 emergency martial law and the subsequent impeachment proceedings against President Yoon Suk-yeol. Political instability, coupled with tightened loan regulations, has dampened buyer sentiment, raising fears of a prolonged downturn in the housing sector. Apartment transactions in [...]
SEOUL, Dec. 9 (Korea Bizwire) – Rising exchange rates could push South Korea’s already elevated food prices even higher next year, experts warn, as the country’s heavy reliance on imported food ingredients makes it particularly vulnerable to currency fluctuations. The won has weakened significantly against the dollar in recent weeks, with the exchange rate breaking through 1,400 [...]
SEOUL, Dec. 9 (Korea Bizwire) – As nationwide protests criticizing President Yoon Suk Yeol’s declaration of martial law gain momentum, a wave of innovative, community-driven acts is capturing attention. Among them, citizens and students are pre-paying for food and drinks—such as coffee, rice rolls, and soups—at nearby shops to support fellow demonstrators. Social media platforms [...]
SEOUL, Dec. 9 (Korea Bizwire) – In a significant pivot toward the world’s most populous nation, South Korean corporate powerhouses are intensifying their focus on India, seeing it as both an antidote to their China-dependent supply chains and a promising frontier for growth. Companies like Samsung Electronics, LG Electronics, and Hyundai Motor are expanding their footprint [...]
SEOUL, Dec. 9 (Korea Bizwire) — LG AI Research, the artificial intelligence lab under South Korea’s LG Group, on Monday unveiled an upgraded version of its giant, multimodal AI model Exaone, offering enhanced performance and cost efficiency for its users. To support the AI ecosystem, all three models of the latest Exaone 3.5 will be [...]