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Economy

Get the latest economic news, market trends, and financial insights from Korea and the world. Stay informed with Breeze in Busan.

Singapore edges out Hong Kong in regional financial competition

Singapore edges out Hong Kong in regional financial competition

Hong Kong has been facing a major challenge in recent times, as it tries to regain its position as Asia's premier financial center after years of pandemic controls. However, a Financial Times analysis of real estate prices, air traffic, and other indicators shows that Singapore has taken the

South Korea's Strategies for Sustainable Economic Success Amid Global Challenges.

South Korea's Strategies for Sustainable Economic Success Amid Global Challenges.

South Korea's economic success story is widely attributed to its export-oriented development strategy, strong industrial base, and skilled workforce. According to a recent study by the Korea Institute for International Economic Policy, Korea's export-led growth model has been successful in driving economic growth and industrialization, with

Construction Firms Shift Focus to Government Projects in Busan

Construction Firms Shift Focus to Government Projects in Busan

The sluggish sales market in Busan has resulted in construction companies shifting their focus toward government projects, in search of stable construction costs and reduced risks. As a result, the latest offering by the Busan Metropolitan Corporation for private operators has garnered significant attention from at least six companies, including

The Unintended Consequences of US Protectionism and Diplomatic Missteps

The Unintended Consequences of US Protectionism and Diplomatic Missteps

The recently passed US Chips and Science Act, which allocates $52 billion toward domestic semiconductor manufacturing, has raised concerns for South Korean tech firms, including Samsung and SK Hynix. The legislation contains several provisions that could potentially harm the Korean tech industry, including "toxin clauses" that require the

Japan's Real Wages Plummet to Nine-Year Low Amid Inflation Surge

Japan's Real Wages Plummet to Nine-Year Low Amid Inflation Surge

Japan's real wages have fallen by the most in almost nine years in January 2022, according to official data, as the country faces a four-decade high inflation rate that has undermined policymakers' efforts to revive the economy from the impact of the COVID-19 pandemic. The trend is

Depopulation in Yeongdo-gu: Can Tourism Alone Revitalize Busan's Struggling Districts?

Depopulation in Yeongdo-gu: Can Tourism Alone Revitalize Busan's Struggling Districts?

Busan's Yeongdo-gu district is facing a serious depopulation crisis, raising concerns among local policymakers and residents alike. The district's population decline is most severe in the original city center, with Yeongdo-gu being the closest to what an aging Busan may look like in the future. This

Busan's Population Decline: Urgent Need for Sustainable Job Creation as Incheon Rises as a Competitor

Busan's Population Decline: Urgent Need for Sustainable Job Creation as Incheon Rises as a Competitor

Busan, the second-largest city in South Korea, is facing a population decline crisis due to a sharp outflow of young people and a declining birth rate. The lack of quality job opportunities and career prospects for the city's residents is a major contributing factor to the population decline.