Consumer sentiment in South Korea worst since November 2022

SEOUL, December 24 (AJP) - Korea's consumer sentiment dropped sharply in December, marking its steepest decline since the 2008 global financial crisis amid political uncertainty concerning President Yoon Suk Yeol, the central bank said on Tuesday. The composite consumer sentiment index (CCSI) fell 12.3 points from the previous month to 88.4 in December, according to the Bank of Korea (BOK), reaching its lowest level since November 2022. The decline represents the largest mont

December 24, 2024

KCCI helps semiconductor industry address labor shortage with training program

SEOUL, December 23 (AJP) - A total of 668 individuals have completed a program operated by the Korea Chamber of Commerce and Industry (KCCI) to cultivate skilled semiconductor specialists and obtained jobs in the semiconductor industry over the past three years. This initiative is a crucial part of South Korea's efforts to bolster its semiconductor workforce amid fierce global competition. Recognizing the surging demand, the KCCI plans to expand its training curriculum. Thi

December 23, 2024

Shinsegae's Centum City surpasses $1.5 billion sales mark, driven by K-beauty, tourism

SEOUL, December 23 (AJP) - Shinsegae Department Store's Centum City branch in Busan surpassed 2 trillion won ($1.5 billion) in annual sales on Saturday, marking the second consecutive year that a non-Seoul department store has achieved this milestone. The feat comes despite the ongoing challenges facing regional retail. The store's success can be attributed in part to a surge in foreign visitors, with customer visits increasing by 253 percent this year following a 668 perc

December 23, 2024

Tesla challenges German dominance in Korea's imported car market

SEOUL, December 23 (AJP) - U.S. electric vehicle maker Tesla Inc. is set to secure the third position in South Korea's imported car market this year, disrupting the traditional German-led hierarchy, industry data showed on Monday. According to the Korea Automobile Importers & Distributors Association (KAIDA), German luxury automaker BMW led the market this year with 67,250 units sold up to November, followed by Stuttgart-based Mercedes-Benz with 59,561 units. Tesla record

December 23, 2024

AI, sustainability take center stage at upcoming CES 2025

SEOUL, December 23 (AJP) - The Consumer Electronics Show (CES) 2025, set to open Jan. 7-10 in Las Vegas, will host more than 4,500 companies from 160 countries under the theme "Dive In," focusing on connecting, solving problems, and discovering new possibilities through technology. NVIDIA CEO Jensen Huang will deliver his first keynote in eight years, expected to discuss next-generation AI accelerators and computing technology's impact. Other keynote speakers incl

December 23, 2024

Korea ranks second in office property investment in Asia-Pacific

SEOUL, December 23 (AJP) - South Korea's commercial office property investments have surged 18 percent this year, securing the second position in the Asia-Pacific region after Japan, according to a new market report released on Monday. The report from global real estate consultancy Savills showed South Korea captured 22 percent of the region's office property investments in the first three quarters of 2024, while Japan led with 30 percent market share. China, Australia and I

December 23, 2024

Seoul hospitals see surge in out-of-city patients over past decade

SEOUL, December 22 (AJP) - Over 6.33 million patients from outside Seoul sought medical treatment in the capital's hospitals last year, marking a 27 percent increase from 2013, according to the National Health Insurance Service's annual report. Non-Seoul residents accounted for 41.7 percent of the total 15.2 million patients treated in Seoul medical facilities in 2023, the highest proportion among South Korea's 17 administrative regions. These out-of-city patients genera

December 22, 2024

Fans gear up for 'Squid Game' season 2 with themed pop-ups and global hype

SEOUL, December 22 (AJP) - Fans worldwide are gearing up for the highly anticipated second season of "Squid Game," set to premiere on Netflix on Dec. 26. The record-breaking series, which captivated audiences globally in its first season, is already sparking excitement, with Korean retailers tapping into the frenzy through themed products and pop-up stores. The first season of the Korean drama made history, garnering 2.2 billion views and becoming Netflix's most-watche

December 22, 2024

Monthly 5G data traffic in Korea expected to surpass 1mln TB amid impeachment crisis

SEOUL, December 22 (AJP) - Korea is poised to see its monthly 5G mobile data traffic exceed one million terabytes for the first time, driven by heightened public interest in news related to President Yoon Suk Yeol's impeachment. Many citizens are watching news clips and live broadcasts via social media platforms such as YouTube. A digital media consumption report published by the Korea Press Foundation in 2023 revealed that 53 percent of 2,003 Korean survey participants consume

December 22, 2024

Samsung Electronics secures $4.7 billion in US chip subsidy

SEOUL, December 21 (AJP) - Samsung Electronics has agreed to receive $4.7 billion in direct subsidies from the U.S. government for its semiconductor investment in Taylor, Texas, becoming the latest major chip company to secure funding under U.S. President Joe Biden's CHIPS and Science Act. The subsidy package, announced on Friday by the U.S. Department of Commerce, accounts for 12.7 percent of Samsung's planned U.S. investment of over $37 billion, a higher percentage compare

December 21, 2024