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South Korean Consumers Spend 480,000 Won Annually on Subscription Services, Study Finds

South Korean Consumers Spend 480,000 Won Annually on Subscription Services, Study Finds

SEOUL, Oct. 3 (Korea Bizwire) – South Korean consumers are spending close to 500,000 won per year on subscription services, according to a new report released on October 2.  The “Subscription Wars 2024″ report, presented by the British subscription bundling and payment company Bango at the M360 APAC conference in Seoul, reveals that South Korean consumers [...]

South Koreans Show Strong Willingness to Reduce Consumption for Climate, Study Finds

South Koreans Show Strong Willingness to Reduce Consumption for Climate, Study Finds

SEOUL, Sept. 30 (Korea Bizwire) – A majority of South Koreans are willing to cut their annual consumption by 15% or more to combat global warming, according to a recent international survey that highlights the country’s growing environmental consciousness. The Korea Institute for Health and Social Affairs released a report comparing climate change perceptions across 10 [...]

Consumer Sentiment Down for 2nd Month in September

Consumer Sentiment Down for 2nd Month in September

SEOUL, Sept. 25 (Korea Bizwire) — South Korea’s consumer sentiment slipped for a second straight month in September due to a delay in the recovery of domestic demand, a central bank poll showed Wednesday. The composite consumer sentiment index stood at 100 this month, down from the previous month’s 100.8, according to the survey conducted [...]

Divorcees Open Up About Appearance Concerns in Future Partners

Divorcees Open Up About Appearance Concerns in Future Partners

SEOUL, Sept. 25 (Korea Bizwire) – A recent survey of divorced individuals in South Korea has shed light on the complexities of remarriage, particularly the role physical appearance plays in initial meetings between potential partners.  The survey, conducted jointly by ONLYou, a remarriage-focused matchmaking company, and Bien Aller, a marriage information service, polled 516 divorced men [...]

Seoul Record Fair Expands, Bridging Generations Through Vinyl

Seoul Record Fair Expands, Bridging Generations Through Vinyl

SEOUL, Sept. 23 (Korea Bizwire) – The 13th Seoul Record Fair, which opened on September 21 at the Oil Tank Culture Park in Mapo-gu, Seoul, has grown into a full-fledged festival, boasting its largest scale to date in terms of space utilization since its inception in 2011. This year’s event, adopting the slogan “The Biggest Record [...]

South Koreans Divided on New Armed Forces Day Holiday

South Koreans Divided on New Armed Forces Day Holiday

SEOUL, Sept. 21 (Korea Bizwire) – A recent survey has revealed that one in five South Korean adults believes the government’s decision to designate October 1st, Armed Forces Day, as a temporary public holiday is inappropriate. Polling firm PMI announced on September 20 that it had surveyed 3,000 South Koreans aged 20-69 about their thoughts on [...]

South Korean Brands Turn to Immersive Experiences to Woo Customers

South Korean Brands Turn to Immersive Experiences to Woo Customers

SEOUL, Sept. 20 (Korea Bizwire) – In a bid to strengthen consumer connections and maximize brand experiences, South Korea’s advertising industry is increasingly turning to experiential marketing strategies. This approach, which goes beyond simply promoting products or services, allows consumers to actively participate and engage with brands, effectively building stronger emotional bonds.  One recent example of [...]

Seoul’s Coworking Space Boom Slows as Remote Work Era Wanes

Seoul’s Coworking Space Boom Slows as Remote Work Era Wanes

SEOUL, Sept. 19 (Korea Bizwire) – The rapid growth of coworking spaces in Seoul, which surged during the COVID-19 pandemic, is now showing signs of deceleration. This shift is attributed to a decline in demand from the startup sector and the recent bankruptcy of WeWork, the pioneer of the coworking model. According to a report released [...]

South Korean Auto Industry Charges Ahead with Innovative EV Battery Leasing Programs

South Korean Auto Industry Charges Ahead with Innovative EV Battery Leasing Programs

SEOUL, Sept. 18 (Korea Bizwire) – As the global electric vehicle (EV) market navigates through a temporary dip in demand, South Korean automakers and financial institutions are introducing innovative products to spark consumer interest. These offerings, centered around guaranteeing the residual value of EV batteries, are reshaping the future of EV ownership.  At the heart of [...]

Highball Craze Drives Surge in South Korean Liquor Tax Revenue

Highball Craze Drives Surge in South Korean Liquor Tax Revenue

SEJONG, Sept. 18 (Korea Bizwire) – The growing popularity of highballs in South Korea’s alcoholic beverage market has led to an increase in liquor tax revenue, reflecting changing consumer tastes in the country’s drinking culture. According to data obtained from the National Tax Service by Park Sung-hoon, a lawmaker from the People Power Party, overall liquor [...]