SEOUL, Nov. 6 (Korea Bizwire) – The number of South Koreans opting to remain economically inactive without specific reasons has gone up by 245,000 this year amid tough job market conditions and economic uncertainties, the statistics agency said Wednesday. The total number of economically inactive individuals came to 16.21 million as of August, up 48,000 [...]
SEOUL, Nov. 6 (Korea Bizwire) – A new survey has revealed that seven out of 10 Korean companies believe extending the retirement age would create significant management challenges due to seniority-based wage systems, according to findings released on November 5 by the Korea Enterprises Federation (KEF). The survey, conducted by Research & Research on behalf of [...]
SEOUL, Nov. 3 (Korea Bizwire) – A new report has revealed that only 4 out of 10 newly employed wage workers in South Korea remain at their initial workplace after one year, highlighting ongoing concerns about job stability among new entrants to the workforce. According to an analysis published November 3 by the Korea Employment Information [...]
SEOUL, Nov. 2 (Korea Bizwire) – A new study warns that the proliferation of cashless businesses could disproportionately impact older consumers who rely heavily on cash and have lower digital literacy, according to research released October 31 by the Bank of Korea. The study, conducted by Lee Kyungtae of the Bank of Korea’s Financial and Monetary [...]
SEOUL, Oct. 31 (Korea Bizwire) – New car registrations in South Korea have fallen to their lowest level in 11 years during the first three quarters of 2024, according to data released by the Korea Automobile Mobility & Industry Association (KAMA) on October 30. Total new vehicle registrations for January through September reached 1,209,154 units, marking [...]
SEOUL, Oct. 30 (Korea Bizwire) – A government investigation has revealed dramatic price hikes at hotels and lodging facilities during South Korea’s peak summer season, particularly around major music festivals and local cultural events. The Korea Consumer Agency disclosed its findings on October 29 after examining prices at 347 accommodations listed on booking platforms. The investigation [...]
SEOUL, Oct. 28 (Korea Bizwire) – In South Korea, high school senior Nam, 18, is doing everything possible to avoid listening to “APT.,” the new collaboration between BLACKPINK’s Rosé and Bruno Mars. Despite the song’s global success, with its infectious melody and repetitive lyrics captivating listeners worldwide, Nam sees it as something best kept at arm’s [...]
SEOUL, Oct. 28 (Korea Bizwire) – In a growing trend that reflects South Korea’s rising food costs, office workers are increasingly turning to convenience store meals delivered through quick commerce services for their lunch breaks. “With restaurant prices skyrocketing, it’s becoming burdensome to eat out every day,” said an individual identified only as Yu, an officer [...]
SEOUL, Oct. 25 (Korea Bizwire) – In the week following Han Kang’s historic Nobel Prize in Literature win, South Korean bookstores reported a remarkable 40% increase in sales, with older readers leading the buying surge. According to data analyzed by BC Card, major bookstore chains, both online and offline including Kyobo Book Centre, saw their sales [...]
SEOUL, Oct. 24 (Korea Bizwire) – What kinds of wine do shoppers who spend more than 100 million won annually at department stores prefer? According to data released on October 23 by Galleria Department Store, Burgundy wines and champagne dominate their luxury wine purchases. An analysis of sales from The Vino 494, the upscale wine boutique [...]