SEOUL, May 26 (Korea Bizwire) — South Korea is the only major OECD economy where the proportion of youth not in education, employment, or training (NEET) has increased over the past decade, according to a new government-backed study. The country’s NEET rate remains significantly above the OECD average, raising fresh concerns about barriers to labor market [...]
SEOUL, May 26 (Korea Bizwire) — With forecasts predicting a historically hot and humid summer, South Korean consumers are scrambling to buy air conditioners—especially smart models powered by artificial intelligence—well ahead of the seasonal norm. Samsung Electronics reported a sharp spike in domestic air conditioner sales, surpassing an average of 10,000 units sold per day from [...]
SEOUL, May 22, 2025 (Korea Bizwire) — After a prolonged slump driven by scandals and user attrition, South Korea’s blockchain gaming industry is showing signs of a robust revival, fueled by new product launches and anticipation of a more favorable regulatory climate under the incoming administration. Nexon, one of South Korea’s largest game developers, officially launched [...]
SEOUL, May 20 (Korea Bizwire) — The value of South Korea’s virtual asset market nearly doubled in the second half of last year from six months earlier, on rising prices of cryptocurrencies, data showed Tuesday. The market capitalization of the virtual asset market had come to 107.7 trillion won (US$77.6 billion) as of end-2024, up [...]
SEOUL, May 20 (Korea Bizwire) — Public acceptance of non-marital childbirth is steadily rising among young South Koreans, with women in their 20s and 30s showing the sharpest increases in approval, according to a new study commissioned by the Presidential Committee on Aging Society and Population Policy. The research, conducted by the Korean Women’s Development Institute, analyzed [...]
SEOUL, May 17, 2025 (Korea Bizwire) — Despite the growing presence of Chinese e-commerce giants like AliExpress and Temu, a majority of South Korean consumers still prefer domestic online platforms for their perceived reliability and product quality—even at higher prices, a government report revealed Friday. According to a report published by the Korea Information Society Development [...]
JEJU, May 14 (Korea Bizwire) — As food delivery fees and dining costs continue to climb, consumers in South Korea’s Jeju Province are turning in growing numbers to Meokkaebi, a government-backed public delivery app offering lower prices and incentives. According to provincial officials on Wednesday, monthly orders on Meokkaebi surged to 62,546 in April 2025, up 431% [...]
SEOUL, May 14 (Korea Bizwire) — Nearly 6 out of 10 South Korean companies report that new employees leave within one to three years of joining, underscoring growing concerns over early attrition in the workforce, according to a new survey released by HR tech firm Incruit. The study, based on responses from 446 HR professionals, found [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s eco-friendly market has surged to a valuation of 34 trillion won (approximately $24.7 billion), but consumer participation in sustainable practices is on the decline, a new survey by the Korea Consumer Agency reveals. The nationwide study, which polled 3,200 adults, found that although 66.4% of respondents are currently [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s retail and consumer goods sectors are increasingly turning to character-based intellectual property (IP) marketing to boost engagement and drive sales, tapping into what experts are calling an era of “emotion-driven consumption.” As consumers seek comfort and nostalgia amid prolonged economic uncertainty, brands are capitalizing on familiar or whimsical [...]