JEJU, Oct. 26 (Korea Bizwire) – A contentious ordinance to restore a traditional fire-setting ritual at Jeju’s Fire Festival has sparked fierce opposition from environmental groups, who are urging the provincial governor to veto a measure passed by the local council. On October 25, a coalition of 19 civil society organizations and political parties, known as [...]
SEOUL, Oct. 25 (Korea Bizwire) – In a sign of mounting challenges for the world’s largest coffee chain, Starbucks has withdrawn its fiscal 2025 outlook amid declining sales and profitability concerns that span from its U.S. home market to South Korea. The coffee giant reported disappointing preliminary fourth-quarter results on October 22, with global revenue falling [...]
SEOUL, Oct. 25 (Korea Bizwire) – Data released by South Korea’s National Tax Service has revealed significant income disparities among the country’s workforce, with the average annual salary standing at 41.23 million won while top earners command substantially higher wages, particularly in the capital region. According to figures obtained by Representative Ahn Do-geol of the Democratic [...]
SEOUL, Oct. 25 (Korea Bizwire) – Eight out of ten South Koreans believe the country’s animal protection laws should be extended to include fish raised for food consumption, according to a new survey highlighting growing public awareness of aquatic animal welfare. The Animal Welfare Awareness Research & Education (AWARE) released findings on October 24 from its [...]
SEOUL, Oct. 25 (Korea Bizwire) – South Korea is set to maintain its economic edge over Japan and Taiwan in per capita GDP this year, according to recent International Monetary Fund projections, with forecasts suggesting it will surpass the $40,000 milestone by 2027. In its World Economic Outlook report released on October 22, the IMF projected [...]
SEOUL, Oct. 25 (Korea Bizwire) – SK Hynix reported its highest-ever quarterly revenue and a dramatic return to profitability in the third quarter, driven by surging demand for artificial intelligence memory chips. The South Korean memory chip maker announced on October 24 that its revenue jumped 93.8% year-over-year to 17.57 trillion won in the July-September period, [...]
SEOUL, Oct. 25 (Korea Bizwire) – A Korean drinking game-inspired collaboration between BLACKPINK’s Rosé and pop star Bruno Mars has become a global sensation, with their new single “APT.” reaching significant milestones in record time. The music video, featuring the duo playing the traditional Korean drinking game “apateu” (meaning apartment in Korean) and Mars enthusiastically shouting [...]
SEOUL, Oct. 25 (Korea Bizwire) – In the week following Han Kang’s historic Nobel Prize in Literature win, South Korean bookstores reported a remarkable 40% increase in sales, with older readers leading the buying surge. According to data analyzed by BC Card, major bookstore chains, both online and offline including Kyobo Book Centre, saw their sales [...]
SEOUL, Oct. 25 (Korea Bizwire) – South Korea’s Minister of Patriots and Veterans Affairs, Kang Jung-ai, has penned a letter of gratitude to RM, the leader of K-pop group BTS, acknowledging his recent 100 million won donation to the veterans’ welfare fund while serving his mandatory military service. The ministry released the contents of Kang’s letter [...]
SEOUL, Oct. 25 (Korea Bizwire) – In Seoul’s wealthy neighborhoods known for their intense focus on private education, investigations into school violence are facing significant delays, according to government data released on October 24. A report submitted to the National Assembly’s Education Committee reveals that school districts serving affluent areas of Seoul are failing to meet [...]