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South Korea Unveils Construction Industry Support Plan Amid Rising Costs and Market Slowdown

SEOUL, Dec. 24 (Korea Bizwire) — The South Korean government announced a comprehensive support package for the construction industry on December 23, responding to mounting challenges including soaring construction costs, a tightening project financing (PF) market, and increasing unsold housing inventory. The measures come as the construction sector faces significant headwinds, with construction investment showing a [...]

South Korea Expands Official Green Guidelines to Boost Eco-Friendly Investments

SEOUL, Dec. 24 (Korea Bizwire) — South Korea has broadened its official green taxonomy, recognizing new eco-friendly economic activities such as groundwater reuse, indoor air quality management, and refill station operations. The Ministry of Environment unveiled the revised framework during a government meeting on December 23, highlighting its growing importance for sustainable economic development. The [...]

South Korea Announces Measures to Bolster Struggling Petrochemical Sector Amid Global Supply Glut

SEOUL, Dec. 24 (Korea Bizwire) – South Korea’s government unveiled a set of measures on December 23 to enhance the competitiveness of its petrochemical industry, which has been grappling with a structural downturn fueled by global oversupply. Industry leaders welcomed the initiative, emphasizing the urgency of swift action to prevent a deeper crisis. Support for [...]

Study Finds Lithium Shows Promise in Treating Autism Spectrum Disorder

SEOUL, Dec. 24 (Korea Bizwire) — Scientists have discovered that lithium, a key component in electric vehicle batteries, could be effective in treating Autism Spectrum Disorder (ASD), according to new research announced on December 23. A team led by Kim Eunjoon at the Institute for Basic Science’s (IBS) Center for Synaptic Brain Dysfunctions has uncovered how [...]

LG Display and Hanwha Develop Eco-Friendly Packaging with Recycled Plastics

SEOUL, Dec. 24 (Korea Bizwire) — LG Display and Hanwha Solutions have jointly developed eco-friendly cushioning packaging made from post-consumer recycled (PCR) plastics, the companies announced on December 23, 2024. This new packaging is tailored for electronic components and aligns with global sustainability efforts. The two firms collaborated over two years to achieve quality comparable [...]

1 in 3 South Koreans Over 65 Employed as Senior Jobs Increase, Statistics Show

SEOUL, Dec. 24 (Korea Bizwire) — According to life-cycle statistics for 2023 released by Statistics Korea on December 23, one in three South Koreans aged 65 and above are now employed, while about 80% of both young (15-39) and elderly households consist of one or two people. The administrative data, compiled from various government departments and [...]

One-Third of South Korean Exporters Expect Decline in 2025 Amid China Competition and U.S. Election Concerns

SEOUL, Dec. 24 (Korea Bizwire) — A recent Bank of Korea survey reveals that one in three major South Korean export companies anticipates a decrease in exports next year, citing intensifying competition from China and potential impacts from a second Trump administration among key concerns. According to the central bank’s regional economic report released on December [...]

Scientists Develop Foldable Nano-Material Inspired by Kirigami Paper Art

SEOUL, Dec. 24 (Korea Bizwire) — An international research team has developed a new foldable porous nano-material based on the principles of kirigami, a variation of origami that involves both folding and cutting paper. According to an announcement made by Ulsan National Institute of Science and Technology (UNIST) on December 23, the collaborative research team, including [...]

Half of Korean Startups Fear Negative Impact of Trump’s Second Term Policies

SEOUL, Dec. 24 (Korea Bizwire) — A recent survey revealed that over half of Korean startups anticipate adverse effects on their businesses from the policies of Donald Trump’s second presidential term. The findings highlight concerns over protectionism, supply chain nationalism, and currency fluctuations. According to a poll conducted by the Korea Venture Business Association (KOVA) of [...]

LG Uplus Tops Customer Satisfaction Among IPTV Providers in South Korea

SEOUL, Dec. 24 (Korea Bizwire) — LG Uplus emerged as the leading IPTV provider in South Korea in terms of user satisfaction, outperforming competitors SK Broadband and KT, according to the Ministry of Science and ICT’s 2024 Pay-TV Quality Evaluation Report released on December 23. LG Uplus scored 67.7 points in service-stage satisfaction, narrowly surpassing SK [...]