Lets Go Busan Sports Portal Launch Enhances Access To Local Facilities

The US Chips and Science Act, a bipartisan legislation aimed at boosting the country's semiconductor industry with a $52 billion investment, has sparked concerns among Korean chipmakers, such as Samsung Electronics and SK Hynix. These companies fear that their trade secrets may be compromised as they seek subsidies under the Act. In response, experts suggest a delicate balance between protecting trade secrets and promoting collaboration between the US and Korean companies. The US Department of

South Korean workers' average debt reached a new high in 2021, exceeding KRW 50 million ($41,400) for the first time, according to a recent report by Statistics Korea. Although the growth rate of debt slowed compared to the previous year, it was still the largest increase since the agency began tracking wage earners' debt in 2017. In December 2021, the average loan for wage earners was KRW 52.2 million ($43,200), up 7.0% or KRW 3.4 million ($2,800) from 2020. The debt growth rate has slowed sin

A recent survey conducted in Busan, South Korea, reveals varying rates of private Hagwon(private educational institute or school) usage and study habits among elementary and middle school students across different districts of the city. The Busan Metropolitan City Office of Education has interpreted these findings as a sign that students in the western districts rely more on public education and spend less time studying than their peers in the central and eastern districts. In response, the Bus

The Ministry of Justice in South Korea announced on Tuesday that it will be issuing a new type of identification card for foreigners staying in the country for more than 90 days, beginning this Saturday. This marks the first redesign of the Residence Card, previously known as the Alien Registration Card, in 12 years. The updated Residence Card will include a larger, full-color photograph of the cardholder, which is a 35% increase in size compared to the current black-and-white photo. Additional

In Busan, South Korea, a recent survey conducted by the Busan Chamber of Commerce and Industry found that a significant number of employees nearing retirement age are planning to re-enter the workforce after they retire. This trend, which may have implications for the broader global workforce, comes as many countries face the challenges of an aging population. The survey, titled 'Survey on Employment Status and Activation Measures for the Elderly in Busan,' included 200 employees aged 55 and ol

Taebaek and Namwon Embrace Prisons to Revitalize Local Economies and Stem Population Loss As the population decline in rural areas across South Korea continues to exacerbate, cities like Taebaek and Namwon are exploring unconventional solutions to address this pressing issue. The construction of prisons is becoming an increasingly popular choice for these cities, as they aim to revitalize their economies and attract new residents. Taebaek, a former coal-mining town, has seen a drastic reductio

Japan and South Korea, two of Asia's most developed countries, are grappling with a set of challenges that threaten their long-term economic growth and social stability. Both countries are experiencing declining birth rates, long working hours, and intense social pressures that contribute to a strained workforce and an aging population. Addressing these issues requires a multifaceted approach that combines policy changes with cultural shifts. This article will delve into the similarities and dif

Disney CEO Bob Iger announced on Monday that the company will begin the first of three planned rounds of layoffs, with the goal of eliminating 7,000 jobs. This decision is part of a larger cost-cutting initiative to streamline operations amidst ongoing media industry turbulence and economic uncertainty. In a memo obtained by CNN, Iger outlined that the first wave of layoffs will commence this week, followed by a more extensive round in April, and a final round before the start of summer. These

The World Bank cautioned that the coronavirus pandemic and Russia's war in Ukraine have contributed to a decline in the global economy's long-term growth potential, possibly leading to a "lost decade" characterized by increased poverty and fewer resources to address climate change. This warning arises as the world grapples with multiple crises, including the pandemic's impact on economies and public health systems and Russia's invasion of Ukraine, which has disrupted global supply chains and da

Busan, South Korea - The International Film Business Academy, a regular program of the Busan Asian Film School (AFis), celebrated its matriculation ceremony yesterday, welcoming new students, faculty, staff, and officials from Busan Metropolitan City. Established in October 2016, AFis is an educational institution designed to develop and support producer-oriented professionals in the Asian film industry. To date, the school has produced 119 graduates from 26 countries. This year, 17 students fr

Busan, South Korea - The city of Busan held its "1st 15 Minute City Vision Tour Season 2" event yesterday at the Saha-gu Office Auditorium. The event aimed to identify key projects for the speedy implementation of the 15-minute city concept by increasing community interest and participation. The 15-minute city is an urban planning concept where residents can access essential services and amenities within a 15-minute walk or bike ride from their homes, promoting sustainability, livability, and so

Users grapple with an obsolete and insecure online service as frustrations rise South Korea's court registry office's online service system continues to frustrate users due to its reliance on the outdated ActiveX technology. The technology has been widely criticized for its security vulnerabilities and incompatibility with modern web browsers. While Microsoft stopped supporting Internet Explorer, which is required to use ActiveX, last year, the South Korean court system has yet to adopt an upda