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Why is the Youth Unemployment Rate in Korea so High?
The youth unemployment rate in South Korea currently stands at 10%. South Korea overall lost over 1 million jobs from the same time last year. The majority of job loss was in the service sector which has been hit especially hard during the coronavirus pandemic. Retail jobs, hotel jobs, and…
AI and IoT Impacting the Consumer Shopping Experience in Korea
As the world adjusts to shopping online since COVID-19, South Koreans are already used to it. South Korea already ranked inside the top 3 for online shopping even before COVID-19. Now, South Korea ranks second behind China in terms of online consumption. It is estimated that a little over 50% of…
A Comprehensive Guide to 5G in South Korea
While China is considered King when it comes to 5G technology, then South Korea is the prince. South Korean telecommunication companies have made 5G services available to consumers in April 2019. The Korean government has offered tax breaks and government investments totaling $27 billion by 2022.…
The Drone Industry in South Korea – A Complete Overview
The Korean government has been behind the push for the increase in robotics and drone technology. Currently, drones are being used for many things such as disaster relief (COVID), agriculture, repairs, and logistics. In addition, there is a growing interest in Korea for personal drones which are…
Nusa Motors – Electric Motorcycle Company in Indonesia
As the largest and most populous country in Southeast Asia, Indonesia is well-known for its scorching heat and regularly heavy traffic. With so many cars, trucks, and buses on the roads every day, there is a strong growing demand for an alternative mode of transportation that could help to reduce…
KITA – The Top Association for Open Innovation in Korea
KITA, the Korea International Trade Association has been around for over 70 years. KITA is the top association for Open Innovation in Korea. Their aim is to advance the Korean economy through trade. It is at the moment the biggest business organization in Korea with over 75,000 member companies.…
