SEJONG, Dec. 19 (Korea Bizwire) – A recent statistical analysis has revealed that three out of every 10 newlywed couples who have married for the first time are double-income, no kids households (‘DINK’), outnumbering other types of couples. According to the ’2022 Newlywed Couples Statistics’ released by Statistics Korea on December 18, out of the 815,357 [...]
INCHEON, Dec. 19 (Korea Bizwire) – The city of Incheon has introduced a groundbreaking birth policy aimed at addressing the alarming decline in birthrates. In a press release on Monday, Mayor Yoo Jeong-bok acknowledged the national crisis and unveiled the “100 Million+ i Dream” initiative, which pledges 100 million won for every child born in Incheon. [...]
SEOUL, Dec. 18 (Korea Bizwire) – As year-end gatherings unfold across South Korea, vegetarians are voicing difficulties in having their dietary choices respected, particularly in social and workplace settings. While gatherings of friends offer some flexibility for alternative menu options, expressing dietary preferences for company dinners, often featuring meat-heavy menus, remains a challenge. A 24-year-old vegan, [...]
SEJONG, Dec. 18 (Korea Bizwire) – In an unprecedented demographic shift, South Korea is expected to witness a significant influx of foreign nationals over the next five decades. According to recent analysis, up to 96,000 foreigners are projected to enter the country annually. This trend aligns with what some demographers are calling the ‘worst-case fertility scenario.’ [...]
SEOUL, Dec. 17 (Korea Bizwire) –Just three weeks ago, on November 29, local media reported the independent development of LPDDR5 DRAM by a Chinese semiconductor company, causing a sense of crisis. ChangXin Memory Technologies, a prominent Chinese DRAM semiconductor company, claimed to have independently developed and mass-produced LPDDR5 DRAM memory chips. If these reports hold [...]
SEOUL, Dec. 15 (Korea Bizwire) – As of December 14, wildlife cafes in South Korea, popular for exhibiting rare animals like raccoons and meerkats in urban settings, are facing a nationwide ban. Under the new law, exhibiting wild animals in unlicensed facilities like cafes could lead to imprisonment of up to two years or a fine [...]
SEOUL, Dec. 15 (Korea Bizwire) — As the year 2023 draws to a close, the K-pop industry reflects on a year marked by extended global expansion and a continued craze for girl groups following the trend from last year. While the temporary hiatus of superstar BTS for its members’ mandatory military service posed a new [...]
SEJONG, Dec. 15 (Korea Bizwire) – Statistics Korea released a forecast on Thursday depicting a rather grim outlook for South Korea in 50 years. The anticipated population is set to dwindle to 36 million, with half of the populace aged 63 or older. Consequently, there is a growing concern about the growing burden of supporting the [...]
SEOUL, Dec. 15 (Korea Bizwire) – IKEA Korea, the South Korean branch of the world’s largest furniture brand, has faced a continued downturn in its performance, reversing the growth observed last year. After experiencing a sales decline for the first time since entering the Korean market, IKEA Korea also posted its first fiscal-year loss this year. [...]
SEOUL, Dec. 11 (Korea Bizwire) – In a trend reflective of the times, e-commerce platforms in South Korea are increasingly becoming the main stage for cost-effective consumption, witnessing a rise in so-called ‘frugal spending.’ With soaring prices increasing consumer sensitivity to costs, there’s a notable surge in demand for products priced below 10,000 won. One example [...]