SEOUL, Nov. 21 (Korea Bizwire) – Seoul’s bustling Myeong-dong district has emerged as the ninth most expensive retail location globally, according to a new report by Cushman & Wakefield Korea. The real estate services firm analyzed retail rental prices in 138 major cities, revealing that Myeong-dong’s annual average rent per square meter reached ₩10.32 million, a [...]
SEOUL, Nov. 21 (Korea Bizwire) – As global economic uncertainties persist, South Korea’s largest conglomerates are intensifying efforts to secure cash reserves, even divesting profitable core businesses and world-leading operations to strengthen their financial positions and fund future investments. According to industry sources on November 20, major business groups are actively selling profitable subsidiaries and flagship [...]
SEOUL, Nov. 20 (Korea Bizwire) – South Korea’s e-commerce market is growing at a fast pace and is expected to grow 10.2 percent on-year to surpass 164 trillion won (US$118 billion) this year, a global market research firm said Wednesday. The Korean e-commerce market is set to reach 164.3 trillion won in 2024, up from [...]
SEOUL, Nov. 20 (Korea Bizwire) – Outstanding credit card loans have risen sharply to reach an all-time high as of end-October amid tight lending regulations by banks and weak domestic demand, data showed Wednesday. Outstanding loans extended by nine major credit card firms amounted to 42.22 trillion won (US$30.25 billion) as of end-October, the largest [...]
SEOUL, Nov. 20 (Korea Bizwire) — An International Monetary Fund (IMF) team said Wednesday that South Korea’s economy is forecast to grow 2 percent next year, citing downside risks including a slowdown in trade and heightened geopolitical tensions. The latest forecast by the IMF team marked a 0.2 percentage-point drop from an earlier projection presented [...]
SEOUL, Nov. 19 (Korea Bizwire) – South Korea’s inheritance tax system, among the highest in developed nations, is hampering business continuity and economic dynamism, according to a new report released on November 18 by the Korea Chamber of Commerce and Industry (KCCI). The report, “Five Reasons Why Inheritance Tax Reform is Necessary,” comes as the government’s [...]
SEOUL, Nov. 15 (Korea Bizwire) – In response to ongoing inflation, South Korean consumers are expected to evolve beyond simple cost-cutting measures to adopt more sophisticated “wiser wallets” spending patterns in the coming year, according to a new global consumer trends report. The “2025 Global Consumer Trends Report,” released on November 14 by global data analytics [...]
SEOUL, Nov. 14 (Korea Bizwire) – Samsung Group shares, long considered a cornerstone of South Korean investing, continued their downward trajectory as foreign and institutional investors led a significant selloff, while retail investors moved to buy the dip. Market analysts suggest that despite current undervaluation, a quick recovery appears unlikely. On November 13, Samsung Electronics closed [...]
SEOUL, Nov. 13 (Korea Bizwire) – Lee, a 32-year-old office worker from Incheon, has been waking up in the middle of the night to check his investment portfolio, often exclaiming “Thank you, Musk” before falling back asleep. His enthusiasm stems from a remarkable turnaround in his 10-million-won investment in Tesla, which had previously plunged 30% amid [...]
SEOUL, Nov. 13 (Korea Bizwire) – As Bitcoin reaches unprecedented heights globally, an unusual phenomenon has emerged in South Korea: domestic trading prices have fallen below international rates, marking a rare reversal of the nation’s traditionally higher cryptocurrency valuations. According to data from CryptoQuant, a cryptocurrency analytics firm, the Bitcoin Kimchi Premium Index registered at -0.88% [...]