Archive page 110

Busan, South Korea – On July 5th, the city of Busan announced the initial lineup for the 2023 Busan One Asia Festival (BOF), a flagship celebration of Hallyu, the "Korean Wave," that proudly represents South Korea on the international stage. Set to take place on October 21st and 22nd, the festival promises two days of immersive Korean culture and music. The first day will see the Busan Asiad Main Stadium buzzing with energy, as a K-POP concert featuring various artists with passionate internati

The iconic location, famed for being the former office of the Busan Mayor and a popular filming site for the hit drama "Reborn Rich," will soon undergo extensive remodeling to transform into a vibrant, public cultural hub BUSAN, South Korea – After six months of meticulous planning and architectural design, the city of Busan is finally set to commence remodeling work on the historic Open Event Hall, previously known as the former office of the Busan Mayor, in July. The projected completion by M

Busan, South Korea - After decades of anticipation and challenges, the city of Busan is finally inaugurating the Mandeok-Choeup (Asiad) Tunnel on July 1. The tunnel is expected to drastically alleviate traffic congestion, seamlessly connecting Deokcheon-dong in Buk-gu and Geoje-dong in Yeonje-gu. The opening ceremony, scheduled for June 30, marks the successful completion of a project that began in 1994 and faced considerable obstacles over the years. The Mandeok-Choeup (Asiad) Tunnel project b

As South Korea's second most populous city after Seoul, Busan's dynamism stretches beyond its well-known reputation as a bustling port and holiday destination. Comprised of 15 'Gu' (districts) and 1 'Gun' (county), Busan presents a diverse and multifaceted sociocultural tableau, housing over 3.36 million citizens according to the latest statistics. Based on data from 2022 The demographic profile of Busan is dispersed unevenly across its administrative regions. At the helm is the thriving distr

The Ministry of Education has officially announced the preliminary list of universities for its ‘Glocal University 30’ initiative. Out of the 30 local universities slated to receive a significant financial investment of 1 trillion won over the next five years, three universities from the Busan and South Gyeongsang regions have emerged victorious in the first round of selection: Pusan National University, Gyeongsang National University, and Inje University. Pusan National University, in an unpre

South Korea, as a powerhouse in the global semiconductor industry, has recently launched an ambitious project, the "semiconductor cluster," set to invigorate its leadership position. A total of 120 trillion won will be invested in this project over the next decade, aiming to establish specialized industrial parks for semiconductor production. SK Hynix, the world's second-largest DRAM market player, spearheads this ambitious project, in collaboration with more than 50 partner companies. The commi

South Korea's construction industry is experiencing stark polarization amidst a real estate market downturn and rising Project Financing (PF) interest rates. Large-scale construction companies like Hyundai Construction, Daewoo Construction, DL E&C, and POSCO E&C have responded to these economic conditions by expanding overseas orders and transitioning to digital platforms. In stark contrast, many medium and small-sized construction firms are teetering on the brink of bankruptcy. According to a

As South Korea grapples with a decreasing birthrate that began to accelerate around 2020, concerns over the impact of these demographic shifts on the asset and real estate market have grown significantly. While a pessimistic theory suggesting a slump in housing demand and a sharp drop in prices emerged post the global financial crisis of 2010, the actual experience of the past two decades in the domestic housing market paints a different picture. Even though the overall population began to shri