SEOUL, Dec. 20 (Korea Bizwire) – South Korean workers reported an average annual income of 43.32 million won in 2023, an increase of more than 1 million won from the previous year, according to year-end tax settlement data. The number of high-income earners making over 100 million won annually reached 1.39 million, while 33% of workers [...]
SEOUL, Dec. 20 (Korea Bizwire) – Starting December 21, real estate registry documents for properties under trust will include precautionary notes to prevent rental scams, particularly jeonse fraud, following amendments to the Real Estate Registration Act, the Supreme Court’s Administration Office announced on December 19. Jeonse fraud occurs when tenants are defrauded in jeonse transactions—a unique [...]
SEOUL, Dec. 19 (Korea Bizwire) – South Korea’s ambitious “Blue Whale Project,” aimed at exploring oil and gas reserves off the coast of Pohang, is facing significant hurdles due to political turmoil, budget cuts, and opposition from local fishermen. The drilling vessel West Capella began operations on December 17, drilling 2 kilometers into the seabed at [...]
SEOUL, Dec. 19 (Korea Bizwire) – China’s TV industry has made a significant leap in the global premium market, with leading brands TCL and Hisense overtaking South Korea’s Samsung Electronics in key segments. According to market research firm Omdia, TCL captured 23% of the 80-inch-and-above TV market in Q3 2024, maintaining its lead over Samsung for [...]
SEOUL, Dec. 19 (Korea Bizwire) – South Korean industry and academia have proposed creating a “KSMC” (Korea Semiconductor Manufacturing Company), modeled after Taiwan’s TSMC, to address challenges facing the nation’s semiconductor industry. The plan, revealed at a seminar held by the National Academy of Engineering of Korea (NAEK) on December 18, aims to build a [...]
SEOUL, Dec. 19 (Korea Bizwire) – South Koreans will soon be able to benefit from a new service that analyzes their usage patterns to recommend optimal smartphone plans, according to an announcement by the Ministry of Science and ICT on December 18. The initiative was approved along with four other regulatory exemptions during the 38th New [...]
SEOUL, Dec. 19 (Korea Bizwire) – With Korean cuisine continuing to gain global popularity, local governments across South Korea are launching food-themed festivals, marking a shift from traditional tourism strategies centered on historical sites and local specialties. These innovative festivals are transforming previously overlooked regions into tourist destinations, drawing hundreds of thousands of visitors and combining [...]
BUSAN, Dec. 19 (Korea Bizwire) – Gamcheon Culture Village, a popular tourist destination in Busan known for its high share of international visitors, is launching new tourism initiatives utilizing vacant homes left behind by an aging population, aiming to extend visitors’ typically brief stays and increase economic benefits to the local community. The Saha District Office [...]
SEOUL, Dec. 19 (Korea Bizwire) – The Korea Institute of Science and Technology (KIST) announced on December 18 that its team, led by senior researcher Kwak Sona from the Intelligent Interaction Research Center, received the top award in the Innovative Prototype category at the International Conference on Social Robotics (ICSR). Their winning entry, the oOoBOT, [...]
SEOUL, Dec. 19 (Korea Bizwire) – Nearly one-third of South Korea’s small and medium-sized exporters report being negatively impacted by the country’s ongoing political turmoil, according to a survey conducted by the Korea Federation of SMEs. The survey, conducted from December 10 to 13 among 513 exporting SMEs, revealed that 26.3% of respondents had experienced [...]