According to Bank of Korea report on February 7th, the economic profit of domestic subsidiaries from reinvestment, which refers to retention money from abroad, decreased by around $8.8 billion. This event signifies the occurrence of “capital reshoring,” in which retention money from overseas flowed
In January, Lee Jae-yong, the chairman of Samsung Electronics, announced a strategy to preempt the 6G telecommunications market as the company’s first major product of the new year. Although the public expectation for the commercialization of advanced intelligence is growing rapidly, concerns about
Lithium, also known as “white gold,” has been thrown into the limelight during the last few years as the key component of batteries. However, despite the prolonged high demand, lithium recently saw an unexpected price drop that reached a low of ¥162.50 last October, due to global recession and slugg
Korea’s finance industry is in crisis. Last July, the delinquency rate of the Korean Federation of Community Credit Cooperatives (KFCC) soared to a record-high level — sparking public fears of a bank run. However, this was only the start of the crisis, as concerns regarding financial institutions’ r
Platform businesses enrich our lives in the era of platform capitalism by providing various services. However, both customers and workers who participate in the platforms suffer various problems. Since the Korea Development Institute announced a proposal to strengthen the protection of platform work
Unobtainium, the highly valuable rare-earth compound in the movie Avatar, or superconductor in a scientific context, was claimed to be created by South Korean researchers on July 22nd. Although the intitial glimmers of hope now seem to be slowly fading away, the sensational pre-print paper made rema
In July, the Korea Magazine Association held its magazine publishing seminar abroad for the first time in its 61 years of existence. The association’s unusual action indicated the need for valuable foreign ideas to revive the Korean magazine industry. Since when did magazines, the icons of popular c
After abandoning social distancing, movie theaters are facing an unexpected crisis. Unlike the speculation that the theater industry would recover at the end of the pandemic, movie seats remain empty. According to the Korean Film Council (KOFIC), the current number of moviegoers accounts for less th
On April 11th, the International Monetary Fund (IMF) slashed South Korea’s economic growth outlook to 1.7%, which decreased from its previous forecast last October. The decline resulted in a lower economic growth rate than what the government and the Organization for Economic Co-operation and Develo
Through the effectiveness of digital technology, proptech introduces a new concept to the current property industry. The Korea Association of Realestators and a proptech company named Artiwealth proved this new trend by making a contract on March 13th. Furthermore, there is no question that proptech
On March 10th, the Silicon Valley Bank (SVB) — the 16th largest bank in the United States (U.S.) — went bankrupt and upended the global financial markets. Besides its direct aftermaths, such as the damage to SVB users, the event caused a buttefly effect that put the brakes on the Korean government’s
This January, the Korea Health Industry Development Institute (KHIDI) stated the future growth of the digital healthcare industry through the International Medical Trends Report 2023. In the middle of the industry’s growth stands wearable medical devices. Also, as smart devices became more common, p
Magic Avatar, an Artificial Intelligence (AI) portrait app by Lensa, went viral worldwide after it was released last December. After taking a few selfies and uploading them to the software, Magic Avatar provides users with their own selfiebased avatars. However, the app has received considerable cr
Since Play to Earn (P2E) games are prohibited by law in Korea, many Korean players have felt left out. However, on October 13th, the Game Rating and Administration Committee (GRAC) announced that they would find ways to allow P2E games to keep pace with the rapid changes in the game industry. Theref
Digital twins, or virtual duplicates of real- world products and systems, are considered critical technologies for digital transformation. MarketandMarkets, a global research company predicted that the digital twin market will grow at a 52.5% annual rate by 2025. In accordance, the Sungkyun Times (S
Much of the world is starving. The disruption of the global grain supply caused by the Russia-Ukraine Invasion and the global food crisis derived from abnormal climate changes have emerged as severe social issues. However, smart farming has been rising as a solution to the food crisis. The Sungkyun
Due to the recent inflation, shrinkflation has increased as the self-employed are downsizing their products instead of raising prices. Behind this measure lies the mechanism of “loss aversion,” a theory that is part of behavioral economics. Behavioral economics, a study that explains the irrationali
Trams, a transportation system normally only seen abroad, are potentially making an exciting return to various cities, including Busan, Daejeon, and Ulsan. In July, Hwaseong City announced its plan to reinstall trams by December 2027. However, voices of concern are arising for this new form of trans
In the modern world, System on Chips (SoCs) are used in diverse fields, ranging from streaming video to driving assistance, and deeply influences everyday life. The technological gap between SoCs and traditional computer processors is also narrowing, as newer SoCs perform better in certain workloads
Nuclear power plants are currently at the center of controversy. In particular, since President Yoon Seokyeol, who took office last month, announced in his election pledge to discard the nuclear phase-out policy of the former government. It is expected that this change will greatly affect society, e