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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…
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…
Magbot – World’s First Wireless Robot Automatic Tool Changer
The robotics market is forecast to be worth $214.7 billion by 2030. This significant figure is attributed to the increased adoption of robotic technologies globally. In particular, demand for robotic solutions is growing in sectors that require the performance of repetitive tasks such as packaging,…
IMSYSTEM – Microrobot for Cardio Vascular Disease Procedures
Microrobots are becoming increasingly popular in cardiovascular disease procedures due to their unique ability to navigate through the vasculature and deliver drugs or perform other procedures at a specific site. Korean startup IMSYSTEM has created a micro-robotic medical system for…
Clean Beauty Startup Power Player – Beauty Brand ongredients
There has been a growing trend among beauty brands in recent years to focus on sustainable and cruelty-free products. This is in response to increasing consumer demand for sustainable and ethically-produced goods. Many cosmetic companies have switched to using organic ingredients and have adopted…
