SEOUL, Sept. 3 (Korea Bizwire) — Poverty and low educational attainment are significantly delaying young South Koreans’ transition into adulthood — from employment to leaving home to marriage — while also deepening psychological distress, according to a government-funded study released Tuesday. The Korea Institute for Health and Social Affairs analyzed data from more than 1,200 [...]
SEOUL, Sept. 3 (Korea Bizwire) — Korean e-commerce platforms are bracing for shifting consumer behavior after the United States scrapped its longstanding tax exemption on small imports, a move that effectively raises prices for American shoppers buying Korean products. Since Aug. 29, parcels valued under $800 — previously exempt from import duties — have been [...]
GUNSAN, Sept. 3 (Korea Bizwire) — The city of Gunsan in North Jeolla Province said Monday it will begin accepting applications from local farmers to join its 2025 Ecosystem Service Payment Program, designed to secure food and habitat for migratory birds that flock to the Geum River and Mangyeong River estuaries each winter. Under the [...]
SEOUL, Sept. 3 (Korea Bizwire) — LG Electronics is deepening its push into Europe’s clean-energy market, announcing a partnership with Britain’s largest power supplier, Octopus Energy, to roll out next-generation heating and cooling systems across the region. The two companies signed a memorandum of understanding in London on August 28, LG said Tuesday. The agreement [...]
SEOUL, Sept. 3 (Korea Bizwire) — Hyundai Motor on Tuesday unveiled teaser images of its first compact concept under the Ioniq electric vehicle lineup, signaling a bold push into the small EV market as it prepares for a global debut at next month’s IAA Mobility 2025 in Munich. The model, called Concept Three, adopts [...]
SEOUL, Sept. 2 (Korea Bizwire) — South Korea’s flagship carmakers and shipbuilders are facing waves of strikes as labor negotiations falter, highlighting rising tensions over wages, retirement policies and corporate restructuring at a time of global economic uncertainty. At Hyundai Motor, the company’s union staged its first walkout in seven years, launching a series of partial [...]
SEOUL, Sept. 2 (Korea Bizwire) — Once a niche Japanese tea, matcha has surged into the global mainstream, embraced by younger consumers seeking both flavor and wellness. From convenience-store desserts and cocktails to luxury fashion and beauty, the powdered green tea has become a cultural and commercial phenomenon. In South Korea, convenience chain CU announced on [...]
SEOUL, Sept. 2 (Korea Bizwire) — Two of the world’s leading luxury houses are taking their competition from the runway to the restaurant table in one of Seoul’s most fashionable districts. Gucci will open its newly relocated and revamped restaurant, Gucci Osteria da Massimo Bottura Seoul, on Tuesday inside its Cheongdam flagship store. The venture, [...]
SEOUL, Sept. 2 (Korea Bizwire) — Kyochon Chicken, one of South Korea’s largest fried chicken chains, has begun allowing franchise owners to set their own menu prices on delivery apps, joining a move pioneered earlier this year by rival bhc. The shift, described as a “self-determined pricing system,” reflects mounting tensions between franchise headquarters and [...]
SEOUL, Sept. 2 (Korea Bizwire) — South Korea’s battery makers, long buoyed by global demand for electric vehicles, are bracing for a sharp downturn after the United States abruptly ended tax credits for EV purchases, a move analysts warn could choke demand for Korean cells. In a report released Sunday, the Korea Institute for Industrial [...]