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Apple and Hyundai Card have announced the upcoming launch of Apple Pay in South Korea on March 21, marking the tech giant's latest move into the competitive mobile payment service market. The launch comes a month and a half after Apple first announced its plans in early February, following a review by the Financial Services Commission (FSC), the regulatory body overseeing financial institutions and products in South Korea. Currently, only Hyundai Card users will be able to utilize Apple Pay in

The Ministry of Land, Infrastructure, and Transport (MOLIT) is reportedly considering a new construction method for Gadeokdo New Airport that involves building the terminal and part of the runway on the island and constructing the airport in a landfill style that spans land and sea. The proposed method is expected to greatly reduce the amount of landfill required for the project compared to the existing maritime airport and could allow for the airport to open before 2030. The city of Busan has

Korean cultural content, commonly referred to as K-content, has been gaining immense popularity across the globe. This is according to the results of a survey conducted by the Ministry of Culture, Sports and Tourism of Korea, which shows that K-pop, Korean food, Hallyu stars, dramas, and information technology (IT) products/brands are among the most recognized aspects of Korea. K-pop has been ranked as the most popular category for six consecutive years, surpassing IT products/brands, which were

The triple impact of inflation, a high exchange rate, and high-interest rates have put many companies in Busan under financial strain, with some facing short-term liquidity risks. Recently, the Busan Chamber of Commerce and Industry (BCCI) released the results of its 'Emergency Management Status' survey, targeting local listed companies in the manufacturing, service, and construction industries with sales of over 50 billion won. The survey revealed that 84.9% of respondents reported negative ef

South Korea has recently posted its worst trade deficit in history, with a 13.9 billion-dollar deficit in February 2023. The country's worsening trade balance is concerning for its economy, which heavily relies on exports. The COVID-19 pandemic has hit the global economy hard, causing supply chain disruptions and demand shocks. This has also affected South Korea's economy, which heavily relies on exports of goods such as semiconductors, automobiles, and petrochemical products. The country's ex

South Korea has one of the most advanced economies in Asia, with a highly urbanized population and a strong focus on technology and innovation. However, the country also faces several challenges related to food security, environmental sustainability, and climate change. One of the solutions that have been proposed to address these challenges is urban agriculture, including vertical farming. However, there are restrictions on the use of agricultural land in Korea, which limits the potential for u

South Korea's conservative government has proposed a controversial plan to increase the legal cap on weekly work hours from 52 to 69. The move has sparked a backlash from trade unions, employees, and women's groups who fear that the plan will hurt work-life balance in a country already known for its workaholic culture. The proposal is also raising concerns about the negative impact of overwork on individuals' health and well-being. Academic research has long shown that working long hours can ha

Silicon Valley Bank (SVB), the preferred bank for the tech sector, collapsed suddenly after a series of unfortunate investment decisions. The California-headquartered organization grew to become the 16th largest bank in the US, catering to the financial needs of technology companies worldwide before its collapse. SVB’s services were in hot demand throughout the pandemic years. The initial market shock of Covid-19 in early 2020 quickly gave way to a golden period for startups and established tec