SEOUL, July 19 (Korea Bizwire) — The average price of an apartment in Seoul has shot up nearly fourfold in the past 18 years after more than doubling under the previous Moon Jae-in administration alone, a civic group analysis showed Tuesday. A 99.1-square-meter apartment in the capital fetched 1.28 billion won (US$973,162) on average as [...]
SEOUL, July 19 (Korea Bizwire) — South Korea’s youth employment rose sharply in May from a year earlier despite the coronavirus pandemic, government data showed Tuesday. The number of employed young people aged 15-29 reached 4.1 million in May, up 196,000 from a year earlier, according to the data released by Statistics Korea. Their employment [...]
SEOUL, July 19 (Korea Bizwire) — Middle-aged individuals living alone are less satisfied with their lives than those who live with family members. Professor Hong Seong-pyo from the Catholic University of Korea and professor Lim Han-ryeo from Seoul National University conducted a survey of 1,378 middle-aged, single-person households over 40 years of age and 6,382 [...]
SEOUL, July 19 (Korea Bizwire) — As disposable income declines day after day, South Korean consumers are turning their eyes towards cheap refurbished products or near-expired products that are available at significantly discounted prices. Lotte Home Shopping Inc., a shopping unit of retail conglomerate Lotte, saw the average daily order volume of refurbished products rise [...]
SEOUL, July 18 (Korea Bizwire) – South Korea’s new coronavirus cases nearly tripled Monday from the previous day to about 70,500 amid a resurgence of infections and the fast spread of a highly contagious new omicron subvariant. As of 9 p.m., local governments had reported 70,497 additional cases, 2.81 times the number from the same [...]
SEOUL, July 18 (Korea Bizwire) — Drug offenders in their teens to 30s grew sharply in the past three years to represent 58.9 percent of those convicted of drug crimes last year, the chief of the Seoul Metropolitan Police Agency said Monday. The number of young drug offenders in those age brackets stood at 1,566 [...]
SEOUL, July 18 (Korea Bizwire) — The apple mango bingsu served at luxury hotels in Seoul have seen a sales boost this year despite recent price hikes, largely led by consumers from the “MZ generation,” a Korean term referring to those aged between late 10s and 30s. Bingsu is a traditional dessert made up of [...]
SEOUL, July 18 (Korea Bizwire) — A new study has revealed that higher inflation rates lead to a higher rate of homicide. Cho Sung-won, an associate professor at Chosun University, recently published an article on how inflation impacts the four major crimes of murder, robbery, theft and assault in the Korea Criminal Intelligence Review. The [...]
SEOUL, July 18 (Korea Bizwire) — South Korean millennials used online shopping portals more than any other generation while members of Generation X were the most prolific users of TV home shopping for the past three years, a survey showed Sunday. The Korea Information Society Development Institute (KISDI) conducted a survey of the 4,171 households [...]
SEOUL, July 17 (Korea Bizwire) — South Korea’s new coronavirus cases stayed above 40,000 on Sunday due to the spread of a highly contagious new omicron subvariant despite fewer tests over the weekend. The country reported 40,342 new COVID-19 infections, including 305 from overseas, bringing the total caseload to 18,761,757, the Korea Disease Control and [...]