SEOUL, July 16 (Korea Bizwire) — One in nine South Korean civil servants recently participated in the long-criticized custom of subordinates treating senior officials to meals, underscoring the persistence of outdated hierarchical practices within the public sector despite reform efforts. A joint survey released Friday by the Ministry of the Interior and Safety and the [...]
SEOUL, July 16 (Korea Bizwire) — A new study has revealed that the trading strategies of South Korea’s National Pension Service (NPS), which oversees more than 1,000 trillion won ($730 billion) in assets, can significantly affect market volatility and transaction costs—particularly when investments are outsourced to external managers. According to a report released Tuesday by [...]
SEOUL, July 16 (Korea Bizwire) — The share of intra-group transactions among South Korea’s major conglomerates rose sharply in 2023, with nearly 40 percent of their total domestic revenue derived from internal dealings, raising fresh concerns about potential abuses of market power and opaque business practices. According to a report released Monday by corporate research [...]
SEOUL, July 15 (Korea Bizwire) — Samsung Electronics Co. maintained its lead in the global smartphone market in the second quarter, supported by sales of its competitively priced Galaxy A models, industry data showed Tuesday. According to the data from market tracker Canalys, Samsung accounted for 19 percent of the global smartphone market in terms [...]
SEOUL, July 15 (Korea Bizwire) — Apartment sales in Seoul have surged to a record-high share of the housing market in 2024, as concerns over rental fraud and weakening demand for non-apartment housing deepen a long-standing shift toward high-rise units. According to data released July 14 by South Korea’s Ministry of Land, Infrastructure and Transport, [...]
SEOUL, July 15 (Korea Bizwire) — Despite a sluggish economy, South Korea’s health supplement industry posted double-digit growth in 2023, becoming the only segment of the country’s biohealth sector to do so, according to new government data. A report released July 13 by the Korea Health Industry Development Institute (KHIDI) showed that the health supplement [...]
SEOUL, July 14 (Korea Bizwire) — A new report from the Korea Immigration Policy Institute reveals that over 78 percent of all workplace injuries suffered by foreign workers in South Korea in 2023 occurred in the construction and manufacturing sectors. According to the analysis, of the 8,434 work-related accident cases approved for industrial accident compensation [...]
SEOUL, July 14 (Korea Bizwire) — A growing number of South Korean children and adolescents are being treated for mental health conditions, with one in every 27 receiving medical care for either attention deficit hyperactivity disorder (ADHD) or depression in 2023, according to new data. An analysis released on July 13 by the education advocacy group [...]
SEOUL, July 14 (Korea Bizwire) — A total of 72 sinkholes were reported across Seoul during the first half of 2025, underscoring growing concerns about the city’s aging underground infrastructure and prompting a major government response. According to data released Sunday by Seoul’s disaster and safety portal, Seoul Safer, sinkholes occurred at a rate of roughly [...]
SEOUL, July 12 (Korea Bizwire) — South Korea’s young population is facing a looming retirement crisis due to alarmingly low enrollment in the national pension system, according to a new report from the National Pension Research Institute, released Friday. The report, titled “Strategies to Expand National Pension Coverage for Young Adults,” highlights a combination of [...]