SEOUL, April 23, (Korea Bizwire) — Nearly one-third of insurance policies in South Korea are canceled within two years, with long-term contract retention rates significantly trailing those of major global markets, according to a report released April 22, 2025, by the Financial Supervisory Service (FSS). The report, titled “2024 Insurance Sales Channel Performance and Supervision [...]
SEOUL, April 22, (Korea Bizwire) — South Korea’s per capita health insurance spending rose by 28% over the past decade, driven largely by higher treatment costs rather than more frequent medical visits, according to a report released Monday by the Korea Development Institute (KDI). The report, titled “Factors Behind Health Insurance Spending Growth and Policy [...]
SEOUL, April 22, (Korea Bizwire) — Intensifying competition from biosimilars and the looming expiration of lucrative drug patents have emerged as the foremost concerns for global pharmaceutical, biotech, and medical device companies, according to a 2025 report by Deloitte Korea. The report, titled “Five Key Challenges for the Global Pharmaceutical and Biotech Industry in 2025,” [...]
SEOUL, April 21, (Korea Bizwire) — LG Display announced Monday that it has developed and deployed its own artificial intelligence assistant — the first of its kind in the display industry — to streamline internal workflows and improve productivity. The AI assistant service, which debuted in early 2025, is designed to support individual productivity through [...]
SEOUL, April 21 (Korea Bizwire) — Jongmyo Jeongjeon, the main hall of Korea’s royal ancestral shrine and a pinnacle of Joseon-era architecture, has reopened to the public following its most extensive restoration in three decades. On April 20, the Cultural Heritage Administration unveiled the newly refurbished structure, marking the end of a five-year restoration project that [...]
SEOUL, April 21, (Korea Bizwire) — LG Electronics marked Earth Day 2025 with the launch of MyCup, a compact tumbler washer designed for commercial use, as part of the company’s broader push into business-to-business (B2B) subscription services and sustainable innovation. Unveiled on April 21, MyCup integrates LG’s advanced dishwashing technologies — including those from its [...]
SEOUL, April 21 (Korea Bizwire) — South Korea is witnessing a sharp rise in consumer complaints related to online game purchases, with a record number of disputes filed over the past year, according to new data from the Korea Consumer Agency (KCA). A total of 1,055 consumer dispute cases tied to online gaming were filed between [...]
SEJONG, April 20 (Korea Bizwire) — South Korea’s national debt without available payment resources is projected to near 900 trillion won (US$634 billion) this year, the government said Sunday. The country’s national debt is expected to reach 885.4 trillion won in 2025, up 11.8 percent from a year earlier, according to the Ministry of Economy [...]
SEOUL, April 20 (Korea Bizwire) — LG Electronics announced Sunday the launch of its new “LG Smart Monitor Swing,” a high-resolution, large-screen display equipped with advanced touch features and full adjustability in height and angle. The new release aims to further solidify the company’s leadership in the portable monitor market, following the success of its earlier [...]
SEOUL, April 20 (Korea Bizwire) — The number of unsold new homes in South Korea has reached the highest level in 11 years and five months, data showed Sunday, due mainly to weak demand for new homes in provincial regions. There were 23,722 unsold new apartments nationwide as of the end of February, doubling from [...]