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Consumers Cut Spending amid High Interest Rates and High Inflation

Consumers Cut Spending amid High Interest Rates and High Inflation

SEOUL, March 15 (Korea Bizwire) — Impacted by high interest rates, high inflation and a stagnant job market, South Korea’s consumption has been on a downward trend since the autumn of 2022. According to data from Statistics Korea, the nation’s seasonally adjusted retail sales index stood at 103.9 in January, down 5.03 percentage points compared [...]

COVID-19 Leads to Increase in Number of Unskilled Laborers and Decrease in Number of Sales Workers

COVID-19 Leads to Increase in Number of Unskilled Laborers and Decrease in Number of Sales Workers

SEOUL, March 15 (Korea Bizwire) — The outbreak of the COVID-19 led to a sharp increase in the number of unskilled laborers such as delivery workers and a decrease in the number of sales workers. The number of unskilled laborers such as food delivery workers and building cleaners was about 4.1 million last year, up [...]

Korean Dramas ‘The Glory’, ‘Crash Course in Romance’ Spur Fashion Sales

Korean Dramas ‘The Glory’, ‘Crash Course in Romance’ Spur Fashion Sales

SEOUL, March 14 (Korea Bizwire) — A number of popular Korean TV series including Netflix’s “The Glory” and the tvN series “Crash Course in Romance” are garnering attention for their fashion design. Park Yeon-jin, one of the high-school bullies in “The Glory” who works as a weather reporter as an adult, made waves with a [...]

S. Korea to Expand Entry Ban on Seashore Rocks for Recovery of Local Ecosystem

S. Korea to Expand Entry Ban on Seashore Rocks for Recovery of Local Ecosystem

SEOUL, March 13 (Korea Bizwire) — The Korea National Park Service announced that it is going to place an entry ban on Geomundo Island’s seashore rocks for the preservation of the local ecosystem. The entry ban will be imposed over seashore rocks contaminated by fishing and marine leisure activities for a designated period for the [...]