Business

Franchise bakeries have flourished in Korea. But at what cost? Local flavors, food identity, and cultural diversity are disappearing.

Aesthetic care is thriving — but at what price to the country’s healthcare system? Inside the contradiction between cosmetic excellence and essential care collapse.

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.

South Korea’s knowledge industry centers were meant to support startups and SMEs, but oversupply and speculative investment have left thousands of office spaces vacant, driving investors into financial distress.

Self-employment in South Korea has reached a historic low, with the number of small business owners falling below 5.5 million. As debt surges and revenue drops, the future of independent businesses looks uncertain.

The decline of Homeplus marks a turning point for South Korea’s retail industry. E-commerce, debt, and shifting consumer habits have reshaped the market—can Homeplus adapt?

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.

South Korea’s restaurant industry faces an unprecedented crisis as closures hit record highs, outpacing new openings for the first time in 16 years.

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

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

In a significant development for South Korea's shipping industry, Harim Group Consortium has been chosen as the preferred bidder for acquiring HMM (formerly Hyundai Merchant Marine), the country's largest shipping company. This move paves the way for the formation of a mega national shipping line, equipped with a fleet of over 300 vessels. While the final contract negotiations are pending, the integration of HMM's container-focused fleet with Harim Group's Pan Ocean, primarily a bulk carrier, wo

In recent years, the city of Busan has witnessed a significant shift in its urban landscape. Prominent department stores and shopping malls, once the epicenter of retail activity, are increasingly being transformed into mixed-use developments. This trend reflects a broader move toward integrating residential, commercial, and recreational spaces within single complexes, reshaping the way urban environments are designed and utilized. Parallel trends can be observed globally, particularly in citie