SEOUL, July 29 (Korea Bizwire) — South Koreans are sleeping less, working and studying less, and spending more time consuming digital media than ever before, according to a new government survey tracking the nation’s evolving daily routines. The Statistics Korea report, released Monday, showed that for the first time since the time-use survey began in [...]
SEOUL, July 29 (Korea Bizwire) — South Korean elementary school students are spending more time studying than ever, while their sleep and playtime continue to shrink, reflecting the intensifying pressure of early academic competition, according to new government data released Monday. The 2024 Time Use Survey by Statistics Korea found that elementary students now study [...]
SEOUL, July 29 (Korea Bizwire) — Ear infections and knee dislocations are among the most common and costly claims made under pet insurance policies in South Korea, according to new data released by Meritz Fire & Marine Insurance. Marking the seventh anniversary of its pet insurance brand “PetperMint,” Meritz reported that external ear infections (otitis externa) [...]
SEOUL, July 29 (Korea Bizwire) — A sweltering heatwave over the weekend sent South Koreans flocking to air-conditioned department stores and shopping malls, leading to a double-digit surge in sales at major retailers. In contrast, large discount chains saw a dip in revenue, despite government-issued consumer coupons aimed at reviving domestic spending. According to industry data [...]
SEOUL, July 29 (Korea Bizwire) — South Korea’s Supreme Court is accelerating efforts to leverage artificial intelligence (AI) in the disclosure and use of court rulings, a move aimed at enhancing transparency and restoring public trust in the judiciary. The Judicial AI Committee, an advisory body under the National Court Administration, convened its third meeting [...]
SEOUL, July 29 (Korea Bizwire) — The estimated “cost of pain” per traffic fatality in South Korea has risen to nearly ₩1 billion ($700,000), reflecting a growing public valuation of human life and greater recognition of the suffering endured by victims’ families, according to a new report released Sunday. The Korea Transport Institute (KOTI) revealed [...]
CHANGWON, South Korea, July 29 (Korea Bizwire) — South Korea’s southeastern province of South Gyeongsang will begin hiring skilled foreign workers for its shipbuilding industry in the second half of this year, as part of a new government-backed visa pilot aimed at addressing a critical labor shortage in key technical roles. On Monday, the provincial [...]
SEOUL, July 28 (Korea Bizwire) — South Korea’s major banks are ramping up corporate lending and support for small businesses in response to President Lee Jae-myung’s recent rebuke of the financial sector for relying too heavily on mortgage lending to drive profits. During a policy meeting on July 24, President Lee criticized banks for [...]
SEOUL, July 28 (Korea Bizwire) — Samsung Electronics said Monday it has secured a landmark 22.8 trillion-won (approximately $16.4 billion) contract to supply artificial intelligence semiconductors, in what it described as the largest chip order in its history. The South Korean tech giant declined to name the customer in a regulatory filing, citing confidentiality. But hours [...]
SEOUL, July 28 (Korea Bizwire) — South Korea is grappling with the increasing challenge of suspects refusing to reveal their smartphone passwords—a trend spotlighted most recently by former President Yoon Suk-yeol’s reported noncompliance in a high-profile investigation into the death of military corporal Chae. Prosecutors say Yoon’s refusal to unlock his device has hindered the [...]