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Shopping Habits in Korea Changed Due to COVID-19
When you walk down the streets of Myeongdong, Dongdaemun, Garosugil (Sina-dong), and even inside COEX mall, you will notice that more and more stores are shutting down. Offline stores have been under pressure due to online retailers even before COVID-19. Shopping habits in Korea are changing as…
Will Bank of Korea Launch Digital Currencies in Korea?
The Bank of Joseon introduced currency notes in Korea back in 1946. 4 years later, a new central bank called the Bank of Korea replaced the Bank of Joseon. Now they play a major role in maintaining price stability in South Korea. However, recently with the rise of Bitcoin and other…
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…
Top Korean Travel Startups Disrupting the Tourism Industry
COVID-19 has been brutal to the travel industry not just in Korea but all around the world. However, before this outbreak, the travel industry in South Korea was on the rise. With the rise of Korean culture in regards to Kpop, entertainment, fashion, and beauty, an estimated 16 million…
Cold Chain Solutions in Korea – Temperature Controlled Logisics
Cold chain solutions in Korea are on the rise as the demand for the storage, preservation, and transportation of cargo in cold temperatures is increasing. COVID-19 showed the importance of these solutions for medicinal products, as spoiled vaccines can lose their efficacy and have serious…
Korean Medical Robotics Startups Impacting the Healthcare Sector
There will be significant advancements in the way healthcare is delivered in Korea. Growing technological achievements in the healthcare industry have given birth to many innovations to help hospitals, doctors, and patients. These technological achievements are in new technologies such as AI, data…
