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Can Korean Startups Enter the North Korean Market
Back in 2018, North Korean dictator Kim Jong-un signed the Panmunjom Declaration with South Korean President Moon Jae-in in South Korea. The declaration was to have both countries cooperate on officially ending the Korean War. Therefore, beginning a new area of peace and improving inter-Korean…
Filing your Taxes in Korea for Foreigners – A Complete Guide
Whether you are starting a company in Korea, teaching English in Korea, or a freelancer, filing your taxes in Korea for foreigners can be complicated, especially if you can’t speak Korean. I have over 20 years of Korean tax accounting and management experience. In addition, I have worked closely…
The Hydrogen Industry in Korea – Next Clean Energy Revolution
The interest in hydrogen technology is growing, with demand increasing rapidly in South Korea. The hydrogen industry in Korea is relatively new, however, it is getting massive support. Major conglomerates in Korea are cooperating to develop a nationwide hydrogen ecosystem and work with the Korean…
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…
