SEOUL, June 18 (Korea Bizwire) — The Bank of Korea has raised alarm over South Korea’s persistently high cost of essential goods, warning that it is outpacing both inflation and global averages, and is stifling consumer spending—particularly among low-income households. In a report released Wednesday, the central bank found that from the onset of the [...]
SEOUL, June 18 (Korea Bizwire) — South Korea is experiencing a widening deficit in high-skilled labor as more top-tier professionals, particularly in fields like artificial intelligence, continue to leave the country, prompting renewed calls for structural reforms to retain and attract global talent. In a report released Tuesday, the Korea Chamber of Commerce and Industry’s [...]
SEOUL, June 18 (Korea Bizwire) — South Korea faces a steep economic cost from population decline and rapid aging, with public spending on pensions and healthcare projected to double to 20% of GDP by 2050, according to a report released Tuesday by the Bank of Korea. In the report titled “Employment Trends and Implications Based [...]
SEOUL, June 18 (Korea Bizwire) — A string of clinical trial failures is putting severe financial strain on South Korea’s biotech sector, forcing some drug development firms into liquidation or restructuring as investor confidence continues to erode. On Tuesday, industry sources confirmed that OsteoNeuroGen, a pharmaceutical startup focused on treatments for idiopathic pulmonary fibrosis, will [...]
SEOUL, June 18 (Korea Bizwire) – South Korea’s financial regulator has issued a consumer alert warning the public about a rise in fraudulent schemes involving fake promises of imminent stock market listings—an increasingly sophisticated scam targeting retail investors amid the country’s recent market rebound. According to the Financial Supervisory Service (FSS), scam operators are falsely [...]
SEOUL, June 18 (Korea Bizwire) – In South Korea, older and more conservative citizens are increasingly turning to YouTube as their primary source of news, while younger and progressive users appear to be migrating away from the platform, according to the Digital News Report 2025 published by the Korea Press Foundation in partnership with the [...]
SEOUL, June 18 (Korea Bizwire) — The Seoul Metropolitan Government announced Tuesday it will expand its free “Pet Plant Clinic” service—an initiative offering personalized diagnosis and care for ailing houseplants—from 9 to 14 locations across the city by the end of June. Launched in 2023, the Pet Plant Clinic program provides expert guidance to citizens [...]
SEOUL, June 18 (Korea Bizwire) — Foreign visitors to South Korea ranked punctuality as the most satisfying aspect of the country’s railway services, according to a new customer satisfaction survey released by national rail operator KORAIL. The survey, conducted on May 18–19, polled 301 foreign tourists at major transportation hubs including Seoul Station, Busan Station, [...]
SEOUL, June 17 (Korea Bizwire) — For the first time in South Korean history, eco-friendly vehicles—including electric, hybrid, and plug-in hybrid models—surpassed internal combustion engine (ICE) vehicles in domestic monthly sales, signaling a significant market shift as electric vehicle (EV) concerns begin to ease. According to data released Tuesday by the Ministry of Trade, Industry [...]
As geopolitical tensions rise and trade dynamics shift under Trump’s second term, South Korea’s tech titan confronts a pivotal moment. SEOUL, June 17 (Korea Bizwire) — Inside the boardrooms of Samsung Electronics this week, the air is thick with urgency. As the world’s largest memory chipmaker enters its crucial midyear strategy meetings, top executives are navigating [...]