SEOUL, Jan. 8 (Korea Bizwire) — Global investment banks are increasingly sounding alarm bells over South Korea’s unprecedented low growth trajectory amid continuing political instability, with attention turning to a potential interest rate cut in January. JP Morgan has issued the most pessimistic outlook, projecting just 1.3% growth for the country in 2025, as domestic economic [...]
SEOUL, Jan. 7 (Korea Bizwire) — Shinsegae Group and China’s Alibaba Group have joined forces to form a strategic e-commerce alliance, a move that has drawn close attention from Coupang, South Korea’s market leader in online retail. The partnership, announced on January 6, could significantly alter the competitive dynamics of the e-commerce sector. Coupang’s senior [...]
SEOUL, Jan. 6 (Korea Bizwire) — From January 3 to 6, the streets around Seoul’s Hannam-daero and St. Francesca Monastery became the stage for an extraordinary overnight protest. Braving freezing temperatures and heavy snow, citizens clad in silver emergency blankets demanded the arrest of President Yoon Suk-yeol, accused of treason. Dubbed the “Kisses Protesters” for their [...]
SEOUL, Jan. 6 (Korea Bizwire) — Chinese businesses are making significant inroads into South Korea, diversifying their presence across retail, electric vehicles (EVs), e-commerce, and consumer electronics. This trend reflects a broader shift as Chinese companies seek to offset slowing domestic growth and navigate rising trade barriers in the U.S. and Europe. Retail Resurgence: Miniso’s [...]
SEJONG, Jan. 6 (Korea Bizwire) — South Korea’s semiconductor export landscape has undergone a significant transformation in recent years, with reliance on China decreasing and exports to countries like Taiwan, the United States, and Vietnam increasing. Experts attribute the shift to global market dynamics driven by the U.S.-China semiconductor rivalry, the surge in demand for [...]
SEOUL, Jan. 4 (Korea Bizwire) — South Korea’s population distribution continues to tilt heavily toward the Seoul metropolitan area, with the gap between urban and rural populations reaching an all-time high in 2024, according to government data released on January 3, 2025. The Ministry of the Interior and Safety’s population statistics show that the metropolitan area, [...]
GWANGJU, Jan. 3 (Korea Bizwire) —On January 3, 2025, as South Korea’s High-Ranking Officials’ Crime Investigation Agency (CIO) attempted to execute an arrest warrant against President Yoon Suk-yeol on charges of insurrection, a symbolic gesture captured national attention. At Gwangju City Hall, a Virginia state flag—known for its historical association with resistance against tyranny—was raised, [...]
SEOUL, Jan. 1 (Korea Bizwire) — South Koreans aged 50 and older expect to retire at an average age of 67 and consider themselves to have entered old age by 69, according to a new survey by the National Pension Research Institute. The study, released on December 31, also found that a monthly income of 1.92 [...]
SEOUL, Dec. 31 (Korea Bizwire) — Hyundai Motor Company and Kia Corporation announced on December 30 the launch of their Integrated Global Information System (IGIS), marking a significant advancement in their carbon emissions management capabilities. The newly developed IGIS represents a comprehensive approach to tracking carbon emissions throughout a vehicle’s entire life cycle, from raw material [...]
SEOUL, Dec. 30 (Korea Bizwire) — As the won-dollar exchange rate soars to nearly 1,500 won, small and medium-sized enterprises (SMEs) in South Korea are grappling with mounting challenges, including volatile currency markets and the looming enforcement of stricter labor regulations. The steep rise in the exchange rate—up from the 1,300-won range earlier this year—has [...]