SEOUL, July 15 (Korea Bizwire) — In a move aimed at easing daily financial burdens on low-credit individuals, South Korea’s financial authorities are considering allowing postpaid transit card functions for people undergoing debt workout programs. The initiative is part of President Lee Jae-myung’s broader policy agenda to support financially distressed small business owners and delinquent [...]
DAEJEON, July 15 (Korea Bizwire) — In response to the alarming decline in bee populations due to the climate crisis, residents near Lake Daecheong have joined forces with the Korea Water Resources Corporation and the Energy Transition Haeyou Cooperative to launch a community-driven ecological initiative known as the “Daecheongho Buzzing Bee Restaurant.” The project involves [...]
SEOUL, July 15 (Korea Bizwire) — Executives at South Korea’s major financial holding companies are reaping substantial gains from their personal stock purchases, as share prices of leading banks surge to record highs. According to financial industry data on Tuesday, three of the nation’s top four financial groups — Shinhan, Hana, and Woori — all [...]
SEOUL, July 15 (Korea Bizwire) — As scorching summer temperatures push past 35°C, a growing number of Koreans are escaping the heat not on long trips, but inside air-conditioned hotels and resorts — sparking a nationwide boom in “hotelcations” (hotel + vacation). According to the hospitality industry on July 14, early and intense heat has [...]
SEOUL, July 15 (Korea Bizwire) — Apartment sales in Seoul have surged to a record-high share of the housing market in 2024, as concerns over rental fraud and weakening demand for non-apartment housing deepen a long-standing shift toward high-rise units. According to data released July 14 by South Korea’s Ministry of Land, Infrastructure and Transport, [...]
SEOUL, July 15 (Korea Bizwire) — South Korea’s powerful business conglomerates, or chaebol, continued a controversial pattern in 2023: funneling excessive dividends to owner families through privately held affiliates, some of which posted losses, prompting renewed concerns over shareholder inequality and market distortion. According to audit reports filed with the Financial Supervisory Service and reviewed [...]
SEOUL, July 15 (Korea Bizwire) — Despite a sluggish economy, South Korea’s health supplement industry posted double-digit growth in 2023, becoming the only segment of the country’s biohealth sector to do so, according to new government data. A report released July 13 by the Korea Health Industry Development Institute (KHIDI) showed that the health supplement [...]
SEOUL, July 15 (Korea Bizwire) — As temperatures in parts of South Korea surged past 40°C again this summer, experts warn that extreme heat is no longer an anomaly, but a growing reality. In response, the government is shifting its focus from prevention to adaptation, launching community-level initiatives to safeguard vulnerable populations. On July 8, [...]
SEOUL, July 14 (Korea Bizwire) — Genesis announced Monday that its flagship sedan, the G90, has been selected as the official ceremonial and protocol vehicle for Kuwait’s Ministry of Interior. The selection underscores the Kuwaiti government’s trust in the model’s premium quality and advanced safety features. A total of 47 G90 vehicles will be deployed—40 [...]
SEOUL, July 14 (Korea Bizwire) — Hyundai Motor Company has debuted its latest high-performance electric sedan, the Ioniq 6 N, at the 2025 Goodwood Festival of Speed, the U.K.’s premier motorsport and automotive celebration. Announced on July 14, the launch marks the second high-performance EV under Hyundai’s N sub-brand, following the Ioniq 5 N, which also [...]