SEOUL, Aug. 2 (Korea Bizwire) – The opening of a premium coffee shop in Seoul’s upscale Cheongdam-dong district has ignited controversy over luxury pricing in a time of high inflation, highlighting the growing economic disparities in South Korean society. Lotte Department Store introduced Bacha Coffee, a Moroccan luxury coffee brand, to South Korea on August 1. The [...]
BUAN, Aug. 2 (Korea Bizwire) – One year after the ill-fated 2023 World Scout Jamboree in Saemangeum, the vast campsite that once echoed with the voices of 42,600 young participants now stands silent and overgrown. The event, dubbed “the worst public event in history,” has left a lingering impact on South Korea’s international reputation and domestic politics. [...]
BUSAN, Aug. 2 (Korea Bizwire) – The South Korean port city of Busan is experiencing an ongoing population drain, particularly among its younger residents, according to recent government statistics. Data released on August 1 by the Dongnam Regional Statistics Office reveals that Busan saw a net outflow of 3,742 residents in the second quarter of this year. [...]
SEJONG, Aug. 2 (Korea Bizwire) – In a significant shift in consumer behavior, South Korea’s overseas direct purchases, commonly known as “jikgu,” surpassed 2 trillion won in the second quarter of this year. This milestone, reached for the first time since record-keeping began in 2014, was largely driven by a dramatic increase in purchases from China. [...]
YANGGU, Aug. 1 (Korea Bizwire) – In the tranquil town of Yanggu, nestled in the mountains of Gangwon Province, residents are once again grappling with the prospect of their homes being submerged. The announcement of a new dam project has reignited a decades-old conflict, leaving many in this close-knit community feeling betrayed and powerless. “I couldn’t [...]
CHANGWON, Aug. 1 (Korea Bizwire) – In the sweltering heat of a late July morning, Kim Young-bong wiped sweat from his brow as he tended to his herd of 270 Korean native cattle, known as hanwoo, in Changwon, South Gyeongsang Province. “Raising cattle is absolutely miserable right now,” Kim, 61, lamented. “We can’t even get fair [...]
SEOUL, Aug. 1 (Korea Bizwire) – Over half of South Korea’s leading corporations have failed to launch a single new business venture in the past five years, according to a recent study. Even Samsung Electronics, the country’s largest conglomerate, has not added any new business objectives to its portfolio in the last decade. A report released [...]
SEOUL, Aug. 1 (Korea Bizwire) – A recent study has revealed that the introduction of digital ordering systems in South Korean restaurants has led to a significant reduction in serving staff, highlighting the growing impact of technology on the service industry. On July 31, the Korea Employment Information Service released a report titled “Analysis of Job [...]
SEOUL, Aug. 1 (Korea Bizwire) – In a setback to Samsung Electronics’ ambitious healthcare expansion plans, the tech giant is facing criticism over battery drain issues in its latest smartwatch. This comes on the heels of quality concerns surrounding its Bluetooth earphones, once again putting the company’s product reliability under scrutiny. Reports have emerged of abnormal [...]
ULJIN, Aug. 1 (Korea Bizwire) – In the heart of South Korea’s Uljin County, a 600-year-old pine tree known as the “King Pine” is showing signs of distress, prompting forest authorities to launch urgent conservation measures. The majestic tree, standing 14 meters tall atop a mountain peak, is a symbol of the Korean red pine forest [...]