SEOUL, Dec. 2 (Korea Bizwire) – Spending on clothing and footwear in South Korea has dropped to its lowest share of consumer expenditures, as domestic demand remains weak and unseasonably warm weather curbs the need for fall apparel. Data from Statistics Korea shows that in the third quarter of 2024, average monthly consumer spending per [...]
SEOUL, Dec. 2 (Korea Bizwire) – South Korea’s economy is expected to operate below its potential capacity for six consecutive years through 2025, according to new projections from the Organization for Economic Cooperation and Development (OECD), raising concerns about structural weakness in what was once one of Asia’s fastest-growing economies. Among the Group of 7 nations [...]
SEOUL, Dec. 2 (Korea Bizwire) – Hybrid vehicle registrations in South Korea are projected to exceed two million by the end of this year, marking a significant milestone 16 years after their introduction to the domestic market in 2008. The surge in hybrid car adoption is also driving a broader shift toward eco-friendly vehicles, with [...]
BUSAN, Dec. 2 (Korea Bizwire) – The Busan International Art Fair (BIAF), an open art market that facilitates direct transactions between artists and collectors, is set to open on December 5 at BEXCO in Busan’s Haeundae district. The K-ART International Exchange Association announced on December 1 that the 2024 edition of BIAF will run for four [...]
SEOUL, Dec. 2 (Korea Bizwire) – With Alex Wong, a former Coupang executive, emerging as a key figure in the Trump administration’s North Korea policy, attention is turning to the multinational workforce at South Korea’s e-commerce giant, where foreign employees now exceed 1,000 and include more than 250 full-time interpreters and translators. Foreign nationals make up [...]
ULSAN, Dec. 2 (Korea Bizwire) – The Ulsan Ulju Mountain Film Festival (UMFF), South Korea’s only international mountain film festival, is seeing its global standing rise as it receives numerous requests for collaboration and exchange from major mountain film festivals and museums worldwide. Festival organizers announced on December 1 that following the International Alliance for Mountain [...]
PARIS, Dec. 1 (Korea Bizwire) – Paris’s Champs-Élysées transformed into a dramatic scene reminiscent of Squid Game on December 1, as Netflix staged a live-action version of the hit series’ iconic “Red Light, Green Light” game. The event, held to promote the highly anticipated Squid Game Season 2, saw 456 participants compete in the chilly streets [...]
SEOUL, Dec. 1 (Korea Bizwire) – As AI-integrated appliances cement their position as the mainstream in South Korea’s home electronics market, LG Electronics has emerged as the leader in customer satisfaction, according to a recent report. A study by corporate data research firm CEO Score, released Sunday, analyzed the top 100 products in five major appliance [...]
SEOUL, Dec. 1 (Korea Bizwire) – In response to a proposal by the Seoul Metropolitan Government to allow foreign workers on E-9 non-professional employment visas to drive village buses, the Ministry of Employment and Labor announced it cannot accommodate the request under current regulations, citing safety and legal concerns. The ministry suggested the matter be addressed [...]
SEOUL, Dec. 1 (Korea Bizwire) – Samsung Electronics has officially launched its home appliance subscription service, directly competing with LG Electronics, which has established a strong foothold in this sector. Starting December 1, Samsung will roll out its “AI Subscription Club” through Samsung stores nationwide and its online platform, Samsung.com. The service allows customers to pay [...]