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Shopping Habits in Korea Changed Due to COVID-19
When you walk down the streets of Myeongdong, Dongdaemun, Garosugil (Sina-dong), and even inside COEX mall, you will notice that more and more stores are shutting down. Offline stores have been under pressure due to online retailers even before COVID-19. Shopping habits in Korea are changing as…
Will Bank of Korea Launch Digital Currencies in Korea?
The Bank of Joseon introduced currency notes in Korea back in 1946. 4 years later, a new central bank called the Bank of Korea replaced the Bank of Joseon. Now they play a major role in maintaining price stability in South Korea. However, recently with the rise of Bitcoin and other…
Why is the Youth Unemployment Rate in Korea so High?
The youth unemployment rate in South Korea currently stands at 10%. South Korea overall lost over 1 million jobs from the same time last year. The majority of job loss was in the service sector which has been hit especially hard during the coronavirus pandemic. Retail jobs, hotel jobs, and…
Live Commerce in Korea – Startups Offering Live Streaming E-Commerce
Live commerce in Korea is starting to take off as more and more people are comfortable with shopping online. Live commerce combines instant purchasing of a featured product and audience participation through a chat function or reaction buttons. It has been a huge success in China and is now seen as…
Animation Startups in Korea – Studios to Production Companies
Animation startups in Korea are on the rise. Many of these startups have gotten a lot of attention from animation studios to animation production due to the rise of the latest tech trend, "The Metaverse." It has given rise to demand from companies not just in Korea but all around the world for…
Top Expense Management Tools in Korea Developed by Startups
Customers and businesses utilize expense management tools to process, pay, and manage expenses. Some of the top expense management tools in Korea have been developed by startups. These tools simplify and automate expense entries, eliminate paper trails, and reduce time/efficiency. These expense…
