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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.

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.

The Urgent Need for Quality Jobs in Busan: Challenges and Solutions

The Urgent Need for Quality Jobs in Busan: Challenges and Solutions

The Korean labor market has been a hot topic of discussion recently, with its severe polarization into large firms versus small and medium-sized companies. As previously discussed, regular employees of large companies account for only 12% of the workers in Korea, leaving small and mid-sized companies struggling with chronic labor

Building Long-Term Job Solutions in Busan

Building Long-Term Job Solutions in Busan

Korea is facing a daunting challenge: a rapidly declining birth rate. The country's total fertility rate of 0.7 is one of the lowest in the world, less than half of the OECD average of 1.59. This trend is particularly evident in major cities such as Seoul,

Job Seekers Flock to Hyundai Motor Group's Recruitment Page for Production Line Workers

Job Seekers Flock to Hyundai Motor Group's Recruitment Page for Production Line Workers

Hyundai Motor Group's announcement that it will recruit production line workers for the first time in a decade has drawn the attention of tens of thousands of job seekers. The recruitment page on Hyundai's website saw over 30,000 visitors on the first day of applications,

The Medical School Black Hole: A Growing Concern in Korea

The Medical School Black Hole: A Growing Concern in Korea

The "medical school black hole" phenomenon is causing concern in Korea as it is resulting in a shortage of talent in other fields. This trend refers to the increasing number of science and engineering students being drawn to medical schools. The recent college entrance exam results have shown