SEOUL, April 20 (Korea Bizwire) – Neighborhood ‘mat-jibs’ are enjoying rising popularity in the midst of the prolonged COVID-19 pandemic. Mat-jib is a Korean term to describe a good and delicious restaurant. This trend indicates that people are showing more preference towards the restaurants in their neighborhood than those in remote areas. Shinhan Card Co., [...]
SEOUL, April 20 (Korea Bizwire) — With the job market still sluggish due to the spread of the coronavirus, an increasing number of young people are choosing to take matters into their own hands and launch their own businesses. The number of young people aged between the ages of 15 and 29 who were self-employed [...]
SEOUL, April 12 (Korea Bizwire) — The number of unemployment benefit recipients reached a new monthly record in March, due mainly to the prolonged negative impact of coronavirus pandemic on the economy, government data showed Monday. According to the Ministry of Employment and Labor, the government paid job-seeking benefits, also dubbed unemployment allowance, to 759,000 [...]
SEOUL, April 10 (Korea Bizwire) — One in four Seoul citizens turned to “revenge spending” to make up for missed shopping during the coronavirus pandemic, a study has shown. According to a Wednesday report by the Seoul Institute, a think tank for the Seoul metropolitan government, 24.3 percent of those surveyed in the first quarter [...]
SEOUL, April 7 (Korea Bizwire) — After years of decline, sales of light commercial vehicles are rebounding this year. Hyundai Motor Co. and its affiliate Kia Corp. saw their combined sales of commercial vehicles reach 56,870 units in the first quarter of this year, up 9.1 percent from 52,127 units a year ago. Of the [...]
SEOUL, April 6 (Korea Bizwire) — Online shopping in South Korea grew 15.2 percent on-year in February as more people bought products via e-commerce platforms amid the pandemic, data showed Tuesday. The value of online shopping transactions stood at 13.7 trillion won (US$12.2 billion) in February, compared with 11.9 trillion won the previous year, according [...]
Singapore, April 6 (Korea Bizwire) – Advanced MedTech Holdings (AMTH) announced the results of a simulation study conducted by Singapore General Hospital (SGH) in November 2020 showing that Alpha ventilators may offer efficiencies to hospitals during a pandemic. The Hospital had designed scenarios to simulate an infectious COVID-19 patient’s journey – from onset of symptoms to [...]
SEOUL, April 5 (Korea Bizwire) — Cosmetics brand “road shops” – street-level retail shops with storefronts – have shut down in considerable numbers as the coronavirus continues to take a toll on the cosmetics industry. The Korea Fair Trade Commission reported that Missha, a South Korean budget cosmetic brand, shut down 164 road shops last [...]
SEOUL, April 5 (Korea Bizwire) — Daily transactions of internet banking services in South Korea rose 20.6 percent last year as customers preferred using financial services in a non-contact manner amid the pandemic, central bank data showed Monday. The value of daily transactions via online banking, including mobile banking, reached 58.7 trillion won (US$52 billion) [...]
SEOUL, April 5 (Korea Bizwire) — Casino operators in South Korea chalked up huge losses in 2020 as the coronavirus pandemic sent the number of visitors plunging, data showed Monday. State-run casino operator Kangwon Land Inc. registered an operating loss of 431.6 billion won (US$382 million) last year, a sharp turnaround from an operating profit [...]