YANGYANG, Oct. 2 (Korea Bizwire) – Wild pine mushrooms from Yangyang, South Korea, known as “Yangyang songi,” have shattered price records, selling for an unprecedented 1.6 million won per kilogram. The Yangyang Sokcho Forestry Cooperative reported on October 1 that during the previous day’s auction, top-grade Yangyang songi mushrooms reached this new pinnacle. The auction prices [...]
SEOUL, Oct. 2 (Korea Bizwire) – The South Korean Fair Trade Commission (FTC) has initiated regulatory action against AliExpress, the popular Chinese online shopping platform, over allegations of false advertising. On September 30, the FTC sent a report detailing potential sanctions to an AliExpress affiliate responsible for product sales. The commission determined that the company’s advertisements, [...]
SEOUL, Oct. 2 (Korea Bizwire) – One in five unemployed South Koreans has been out of work for more than six months, according to recent government data, marking the highest level of long-term unemployment since the aftermath of the 1997-98 Asian financial crisis. Statistics Korea reported that as of August, the number of long-term unemployed individuals [...]
SEOUL, Oct. 1 (Korea Bizwire) – In a significant breakthrough for electric vehicle safety, LG Chem, one of South Korea’s leading chemical companies, has announced the development of a new material that could potentially prevent battery fires by cutting off electrical flow when temperatures rise abnormally. The innovation, described as a “thermal runaway inhibiting [...]
SEOUL, Oct. 1 (Korea Bizwire) –A North Korean defector in his 30s was arrested by South Korean police after attempting to cross the heavily fortified border back into North Korea in a stolen bus. The incident, which occurred in the early hours of October 1, has raised questions about the challenges faced by some North [...]
SEOUL, Oct. 1 (Korea Bizwire) – A recent study by the Bank of Korea suggests that an influx of foreign workers leads to increased employment opportunities for South Korean nationals in the long run, challenging some common perceptions about immigrant labor. The report, titled “The Impact of Foreign Worker Inflow on Regional Labor Markets,” was presented [...]
SEOUL, Oct. 1 (Korea Bizwire) – Jesse Lingard, the former England international now playing for FC Seoul, has expressed deep concern over the state of soccer pitches in South Korea, calling the situation “serious” following a recent K League 1 match. Lingard, who spent much of his career on the manicured fields of the English Premier [...]
SEOUL, Oct. 1 (Korea Bizwire) – As the fever for medical school admissions intensifies in South Korea, lawmakers and education activists are pushing for legislation to regulate so-called “elementary med school” classes, where young children are taught advanced mathematics concepts typically reserved for high school or even university curricula. On September 30, Representative Kang Kyung-sook of [...]
SEOUL, Oct. 1 (Korea Bizwire) – As South Korea prepares for an extended holiday in early October, thanks to the government’s designation of Armed Forces Day as a temporary public holiday, a surge in travel bookings reveals a strong preference for Japanese destinations among Korean tourists. According to data released by Trip.com on September 30, overseas [...]
SEOUL, Oct. 1 (Korea Bizwire) – As Seoul prepares for its annual International Fireworks Festival, a spectacle that typically draws hundreds of thousands of spectators, a frenzy for prime viewing spots is driving up prices across the city. Hotels and restaurants with coveted views of the Han River are seeing their rates soar, prompting local authorities [...]