SEOUL, May 7 (Korea Bizwire) — South Korean households raising infants and toddlers spend significantly less on adult leisure and cultural activities than their childless peers, highlighting the personal sacrifices many parents make in the early years of childrearing. According to a new report released Tuesday by the Korea Institute of Child Care and Education, the [...]
SEOUL, May 6 (Korea Bizwire) — South Korea’s beauty industry continues its explosive global ascent, with overseas direct purchases of Korean cosmetics and perfumes — commonly referred to as K-beauty — nearly doubling in 2024 to approach $1 billion, according to newly released customs data. The Korea Customs Service, in data submitted to Rep. Park Sung-hoon [...]
SEOUL, May 6 (Korea Bizwire) — Seven in 10 households made online purchases of processed foods in 2024, a survey showed Tuesday, marking a sharp increase from a year earlier and a significant change in where and how people shop. According to the survey conducted by the Korea Rural Economic Institute, 72.3 percent of households [...]
SEOUL, May 6 (Korea Bizwire) — South Korean e-commerce giant Coupang, Inc. said Tuesday it has launched an English interface for its mobile application to better cater to its foreign customers shopping online. The English interface will enable users to view functions central to the app, including product search, product descriptions, order information and payment, [...]
SEOUL, May 6 (Korea Bizwire) — Elderly dementia patients in South Korea hold assets worth a combined 153.5 trillion won (US$110.9 billion), which is equivalent to about 6.4 percent of the country’s gross domestic product (GDP), data showed Tuesday. The assets had been owned by 1.24 million dementia patients aged 65 and above as of [...]
SEOUL, May 6 (Korea Bizwire) — Beauty products are undergoing a transformation in South Korea, emerging as fashion-forward accessories among the country’s style-savvy MZ generation — a demographic encompassing those born between the early 1980s and early 2000s. No longer limited to cosmetic utility, items like lip balms, tints, and compact cushions are increasingly designed to [...]
SEOUL, May 6 (Korea Bizwire) — South Korea’s middle school students continue to rank among the world’s top performers in academic achievement, but their personal development — particularly in peer relationships, emotional resilience, and autonomy — lags significantly behind, according to a new international study. The Korea Educational Development Institute (KEDI) recently released a comparative analysis [...]
SEOUL, May 5 (Korea Bizwire) — Online shopping has become the dominant channel for purchasing home appliances in South Korea, outpacing all other major product categories in digital penetration, according to newly released government data. Figures from Statistics Korea’s national portal show that online transactions accounted for 53.7% of total retail sales in the home appliance [...]
SEOUL, May 6 (Korea Bizwire) — Despite persistent inflation and slowing economic growth, a growing segment of affluent older South Koreans is defying conventional spending patterns, embracing digital platforms and youth-driven consumer trends, a new study reveals. According to data released Monday by Shinhan Card’s Big Data Research Center, the top 20 percent of credit card [...]
SEOUL, May 5 (Korea Bizwire) — South Korea’s production in the construction sector declined by the most in more than 26 years in the first quarter amid industry slumps and political uncertainty caused by former President Yoon Suk Yeol’s martial law bid, data showed Monday. The value of construction completed, a measure of production in [...]