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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 AR and VR Industry in South Korea – A Complete Breakdown
The XR market is one of the hottest/fastest-growing industries in the world. XR refers to extended reality and incorporates both AR and VR technology. The global VR market alone is projected to reach $5.1 billion by 2023. The South Korean government has supported the Korean tech startup scene which…
Lockpick Games Help Students Prepare for Standardized Tests
As any parent knows, studying for exams can be daunting for young children. Not only do they have to contend with the sheer amount of material they need to memorize, but they also have to figure out how to make sense of all this information in the context of a test. Edtech gaming startup Lockpick…
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,…
