SEOUL, Mar. 21 (Korea Bizwire) – The number of South Koreans opting to receive their national pension benefits before the official retirement age, despite incurring a financial penalty, has reached nearly one million, reflecting the economic struggles faced by many retirees. According to data from the National Pension Service released on March 20, the total number [...]
SEOUL, Mar. 21 (Korea Bizwire) – A recent survey has revealed that 4 out of 10 households in South Korea have family members, primarily children, who do not consume kimchi, the traditional dish of fermented vegetables. As households increasingly rely on store-bought kimchi, there is a growing demand for clearer labeling regarding levels of spiciness and [...]
SEOUL, Mar. 20 (Korea Bizwire) – South Koreans feel happier and perceive their social status as higher when their household incomes are larger, according to an annual government survey released on March 19 that highlighted the nation’s emphasis on economic growth over wealth distribution. The 2023 Social Integration Survey conducted by the Korea Institute of Public [...]
SEOUL, Mar. 19 (Korea Bizwire) – As stubbornly high inflation persists, South Korean households are tightening their purse strings even on private education expenses, long considered the last bastion of family budgets, according to data released on March 18. BC Card, a major credit card company, reported a staggering 24 percent year-over-year plunge in education-related spending [...]
SEOUL, Mar. 17 (Korea Bizwire) – The surge in direct purchases from China via e-commerce channels witnessed a substantial spike of 70% last year, according to data released by the Korea Customs Service on March 17. Concurrently, the volume of consumer complaints has tripled, reflecting the growing challenges posed by this burgeoning trend. The figures [...]
SEOUL, Mar. 15 (Korea Bizwire) – In the heart of Seoul, the world’s foremost and largest gathering of digital influencers, Seoul Con 2023, has revealed a fascinating insight: when thinking of Seoul, ‘Beauty and Fashion’ dominate the imaginations of international influencers. This revelation comes from a comprehensive survey conducted by the Seoul Business Agency (SBA), which [...]
SEOUL, Mar. 14 (Korea Bizwire) – The introduction of a distinctive “lime green” license plate system for corporate vehicles earlier this year has led to a significant drop in the registration of high-end imported corporate cars in South Korea. The rush by companies to purchase these vehicles before the new regulations took effect also appears to [...]
SEOUL, Mar. 12 (Korea Bizwire) – In South Korea, a somewhat surprising economic trend is unfolding: despite the nation’s birth rates hitting new lows each year, the market for premium children’s products continues to expand. This growth is largely driven by the “ten pocket” trend, where up to ten family members are willing to open their [...]
SEOUL, Mar. 12 (Korea Bizwire) – As the conflict between Israel and Palestine persists, K-pop artists find themselves inadvertently embroiled in the fallout from a boycott movement targeting companies perceived as pro-Israel. Recently, online communities buzzed with criticism towards Le Sserafim’s Huh Yun-jin for her consumption of Starbucks coffee, considered a trigger for the backlash due [...]
SEOUL, Mar. 12 (Korea Bizwire) – Two years into the era of high inflation, elusive price increases led by fruits and vegetables such as apples, pears, and green onions continue to burden consumers. Following the hike in gasoline and the cost of eating out in previous years, the soaring prices of everyday food items have become [...]