SEOUL, Jan. 24 (Korea Bizwire) — A stark gender divide exists among South Korean teenagers regarding dating expenses, with young women overwhelmingly favoring equal cost-sharing while young men show more traditional views, according to a lifestyle report released by Woori Bank on January 23. The “Teens’ Diary” report, which surveyed 3,729 teenagers aged 14-18 nationwide, revealed [...]
SEOUL, Jan. 22 (Korea Bizwire) — A surge in Chinese exports is stoking tensions across the global industrial landscape, as countries worldwide grapple with an influx of low-priced Chinese goods that many say is disrupting their domestic markets. China’s customs authority reported that exports reached a record 25.5 trillion yuan in 2024, jumping more than 7% [...]
SEOUL, Jan. 21 (Korea Bizwire) — Automotive industry experts on Tuesday urged the government to revise its ambitious target of deploying 4.5 million zero-emission vehicles by 2030, part of the nation’s greenhouse gas reduction goals, to align with practical realities. Yoon Kyung-sun, executive managing director of the Korea Automobile & Mobility Association (KAMA), called the [...]
SEOUL, Jan. 20 (Korea Bizwire) — In a move to penetrate South Korea’s tightly controlled smartphone market, Xiaomi is looking to establish its first physical store in Seoul, potentially disrupting the long-standing dominance of Samsung and Apple. The Chinese tech giant, which recently established a Korean subsidiary, launched its first product, the Xiaomi 14T, on January [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea’s top three shipbuilders are expected to report collective annual profits for 2024, marking the first time in 13 years that the trio—HD Korea Shipbuilding & Offshore Engineering, Hanwha Ocean, and Samsung Heavy Industries—have all turned a profit. The achievement comes amid a “super cycle” in the global shipbuilding [...]
SEOUL, Jan. 18 (Korea Bizwire) — In a significant strategic shift, Korea Hydro & Nuclear Power (KHNP), Korea Electric Power Corporation (KEPCO), and U.S.-based Westinghouse Electric Company have agreed to set aside ongoing intellectual property disputes and jointly pursue global nuclear power projects under the newly formed “Team KORUS” alliance. Though the specific terms of the [...]
SEOUL, Jan. 18 (Korea Bizwire) — As K-pop continues to dominate global music charts, South Korea is taking steps to bolster copyright protections for choreography that has fueled the genre’s meteoric rise. A recent study by the Korea Copyright Commission underscores the need to safeguard the intellectual property rights of choreographers behind iconic dance routines, such [...]
SEOUL, Jan. 17 (Korea Bizwire) — South Korea’s economy is grappling with deeper-than-expected shocks stemming from President’s declaration of martial law on December 3, 2024, according to a new analysis from the Bank of Korea (BOK). The political instability has forced the central bank to reconsider its economic growth projections for both 2024 and 2025, raising the [...]
SEOUL, Jan. 14 (Korea Bizwire) — South Korea continues to face mounting dining costs for the third consecutive year as high inflation, currency volatility, and rising interest rates drive food prices upward. From popular dining options to workplace cafeterias and convenience store meals, prices have surged, intensifying the so-called ‘lunchflation’ phenomenon. According to data from Statistics [...]
SEOUL, Jan. 13 (Korea Bizwire) — Chinese electric vehicle (EV) manufacturers, led by BYD, are intensifying efforts to enter the South Korean market in 2025, raising questions about their strategic motivations. Analysts suggest this move addresses China’s domestic overproduction while positioning South Korea as a testing ground for expansion into advanced markets. Industry insiders speculate [...]