Business News
Reporting, analysis, and commentary on business from Breeze in Busan.
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South Korea's Food Inflation: Economic Pressures Challenge Consumers and Small Restaurants
In South Korea, the sharp rise in food prices is putting a strain on both consumers and small businesses. As inflation persists, many workers are opting for in-house dining, while small eateries struggle with rising ingredient costs, energy prices, and labor shortages.
4 min read
Why Korea’s Public Delivery Platforms Keep Failing
Once seen as a lifeline for small businesses, publicly funded food delivery apps are shutting down across South Korea. Poor design, weak infrastructure, and lack of sustained strategy reveal a deeper problem: local governments are still treating digital services as short-term campaigns.
8 min read
The Empty Streets of South Korea’s New Towns
South Korea’s new towns, once envisioned as thriving urban hubs, are now facing a crisis of rising commercial vacancies. Empty storefronts and struggling businesses reflect a deeper flaw in urban planning—overestimated commercial demand, rigid zoning laws, and shifting consumer habits.
7 min read
KFTC’s Record Fine on Coupang Halts Busan Logistics Center Plans
On June 13, 2024, the Korea Fair Trade Commission (KFTC) imposed a historic fine of 140 billion won on Coupang for its unfair business practices, including manipulating search algorithms to unfairly prioritize its private label (PB) products. This decision has significant implications for fair competition and local businesses. Coupang, one of South Korea’s largest e-commerce platforms, has been at the center of controversy for manipulating search algorithms to favor its private label products o
3 min read
South Korea's Digital Nomad Visa: A Leap Forward or a Missed Opportunity?
South Korea's recent introduction of the digital nomad visa, effective from January 1, 2024, marks a shift in its approach to remote work and tourism. However, the visa's stringent income requirements and other criteria have sparked debate about its actual effectiveness and appeal. High Income Threshold: A Barrier to Broader Appeal A pivotal aspect of the digital nomad visa is its high income requirement, set at twice the national GNI per capita, translating to an annual income of about 84.96
2 min read