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Archive by category Topics

South Korean Consumers Embrace Budget-Friendly, Small-Packaging Trends Amid High Inflation

SEOUL, Dec. 17 (Korea Bizwire) – A new analysis of social media data reveals that South Korean consumers are increasingly adopting cost-conscious spending habits, focusing on low-priced and small-packaged products. This shift reflects a growing emphasis on economic efficiency in response to prolonged inflation. Rising Concerns About Inflation According to KPR Digital Communication Research Institute, [...]

Gaming Craze Cools in South Korea as Pandemic Boom Fades

SEOUL, Dec. 17 (Korea Bizwire) – The percentage of South Koreans who play video games has dropped below 60% for the first time in a decade, marking a significant decline from its peak during the COVID-19 pandemic when nearly three-quarters of the population were gaming. According to a new survey released on December 16 by the [...]

South Korean Small Businesses Hit Hard by Martial Law and Impeachment Turmoil

SEOUL, Dec. 17 (Korea Bizwire) – Nearly half of South Korea’s small business owners in the food and hospitality sectors report direct or indirect losses due to the ongoing political crisis following the December 3 martial law declaration and subsequent impeachment of President Yoon Suk-yeol. A survey conducted by the Korea Federation of SMEs between [...]

South Korean Opposition Pushes Legislation to Prevent Unconstitutional Martial Law

SEOUL, Dec. 17 (Korea Bizwire) – South Korea’s Democratic Party is advancing a wave of legislative proposals aimed at preventing the misuse of martial law, following the recent political turmoil that culminated in President Yoon Suk-yeol’s impeachment. Dubbed the “Seoul Spring Laws,” these measures seek to impose stricter controls on the declaration of martial law [...]

South Korean Drone Exports Surge 62% in 2024, Reaching 23.2 Billion Won

SEOUL, Dec. 17 (Korea Bizwire) – South Korea’s Ministry of Land, Infrastructure and Transport announced on December 16 that the nation’s drone exports reached 23.2 billion won this year, marking a 62% increase from last year. Drone aircraft dominated exports at 71%, followed by services and software at 16%, and hardware components at 13%. The ministry [...]

Cataract Surgery Tops List of Medical Procedures in South Korea for 2023

SEOUL, Dec. 17 (Korea Bizwire) – The National Health Insurance Service reported on December 16 that cataract surgery was the most commonly performed medical procedure among South Koreans last year. According to the “2023 Major Surgery Statistical Yearbook,” 1.66 million patients underwent close to 2 million procedures across 34 major surgical categories. These figures represent a [...]

South Korea’s First Living-Donor Liver Transplant Recipient Marks 30-Year Milestone

SEOUL, Dec. 17 (Korea Bizwire) – South Korea’s first living-donor liver transplant recipient has reached her 30th birthday, three decades after receiving a portion of her father’s liver at just 9 months old. Asan Medical Center in Seoul announced on December 16 that Lee Ji-won, now 30, has marked the 30th anniversary of her groundbreaking transplant [...]

South Korea Sees Record High Property Auctions Amid Rising Interest Rates and Market Slump

SEOUL, Dec. 17 (Korea Bizwire) – The number of properties auctioned off due to loan defaults in South Korea is on track to hit its highest level in 11 years, reflecting the combined impact of soaring interest rates and a sluggish real estate market. Sharp Rise in Property Auctions Data from the Court Registration Information Plaza [...]

South Korea’s Manufacturing Sector Shrinks Amid Semiconductor and Textile Slumps

SEOUL, Dec. 16 (Korea Bizwire) – South Korea’s manufacturing and mining sectors saw their first decline in business establishments in seven years, driven by a slowdown in the semiconductor industry and a downturn in textiles. According to Statistics Korea’s preliminary Mining and Manufacturing Survey, released on December 16, the total number of businesses with 10 or [...]

SK Hynix Expands HBM Production to Meet Surging AI Demand

SEOUL, Dec. 16 (Korea Bizwire) – SK Hynix is accelerating efforts to expand its high-bandwidth memory (HBM) production capabilities by staffing its new M15X fab in Cheongju, South Korea. The move underscores the company’s commitment to maintaining its leadership in the HBM market amid robust AI-driven demand expected to outstrip supply through 2025. Preparing for Expanded [...]