SEOUL, June 18 (Korea Bizwire) – Essential living costs in South Korea are significantly higher than those in other major nations, hindering the recovery of consumer spending, the central bank said Wednesday. South Korea’s price indices for food, clothing and housing stood at 151, 161 and 123, respectively, based on the average price level of [...]
SEOUL, June 18 (Korea Bizwire) — South Korea faces a steep economic cost from population decline and rapid aging, with public spending on pensions and healthcare projected to double to 20% of GDP by 2050, according to a report released Tuesday by the Bank of Korea. In the report titled “Employment Trends and Implications Based [...]
SEOUL, June 18 (Korea Bizwire) – In South Korea, older and more conservative citizens are increasingly turning to YouTube as their primary source of news, while younger and progressive users appear to be migrating away from the platform, according to the Digital News Report 2025 published by the Korea Press Foundation in partnership with the [...]
SEOUL, June 18 (Korea Bizwire) — Foreign visitors to South Korea ranked punctuality as the most satisfying aspect of the country’s railway services, according to a new customer satisfaction survey released by national rail operator KORAIL. The survey, conducted on May 18–19, polled 301 foreign tourists at major transportation hubs including Seoul Station, Busan Station, [...]
SEOUL, June 17 (Korea Bizwire) — For the first time in South Korean history, eco-friendly vehicles—including electric, hybrid, and plug-in hybrid models—surpassed internal combustion engine (ICE) vehicles in domestic monthly sales, signaling a significant market shift as electric vehicle (EV) concerns begin to ease. According to data released Tuesday by the Ministry of Trade, Industry [...]
SEOUL, June 17 (Korea Bizwire) — A growing number of South Korean healthcare workers believe the country is facing a severe shortage of doctors, a situation they say has worsened over the past year and is fueling systemic strain across hospitals. According to a survey released Monday by the Korean Health and Medical Workers’ Union, [...]
SEOUL, June 17 (Korea Bizwire) — A new government-backed study has raised doubts about the effectiveness of routine endoscopic screenings for stomach and colorectal cancers in South Koreans aged 80 and older, prompting calls for more individualized screening guidelines for elderly patients. The Korea Health Industry Development Institute (KHIDI) released a report Monday based on [...]
SEOUL, June 17 (Korea Bizwire) — With South Korea set to require all KOSPI-listed firms to submit corporate governance reports starting in 2026, POSCO Holdings has emerged as the top performer in governance compliance over the past five years, according to a comprehensive industry analysis released Tuesday. The study by Leaders Index, which reviewed 2024 corporate [...]
SEOUL, June 17 (Korea Bizwire) — The Bank of Korea’s issuance of 10-won coins hit an all-time monthly low in May, underscoring the accelerating decline of physical currency in a society increasingly reliant on digital payments. According to data released Tuesday from the central bank’s Economic Statistics System, just 17 million won worth of 10-won [...]
SEOUL, June 16 (Korea Bizwire) — A growing number of South Korean workers believe the legal minimum wage should be extended to cover gig workers, freelancers, and those in special employment arrangements, reflecting mounting concern over the widening protections gap in the evolving labor market. According to a survey released Sunday by the labor rights group [...]