By the end of 2024, the number of pet owners in Korea had surpassed 15 million, and today, pets are increasingly coming to be regarded as true members of the family. Riding on this cultural shift, the petconomy is transforming the country’s economic landscape. Against this backdrop, the Sungkyun Tim
On August 1st, global beverage brand Coca-Cola appointed V of the K-pop boy band BTS as its official ambassador. The campaign pictorial, released on Instagram, quickly garnered approximately 700 thousand likes in just two days. In this sense, ambassadors have become core assets that shape brand iden
Stablecoins are attracting unprecedented interest. As discussions on institutionalizing won-based stablecoins gain traction in South Korea, it may be time for Kingos to start paying more attention to this critical issue. The Sungkyun Times (SKT) takes a closer look at stablecoins, which may mark a s
In today’s rapidly evolving global market, tangible assets alone no longer define a company’s potential. As innovation and creativity become the cornerstones of the economy, a new financial mechanism is emerging: intellectual property (IP)-backed finance. The Sungkyun Times (SKT) aims to explore thi
Many people dream of stepping into a wedding hall, anticipating the beginning of a new life chapter with the person they love. However, many soon-to-be married couples in South Korea face financial burdens from overpriced sudeme wedding packages, including studio photography, dress rentals, and make
In March 2025, the Seoul Metropolitan Government reinstated the Seocho, Songpa, Gangnam, and Yongsan Districts as areas subject to the land transaction permission system, 35 days after it had been lifted. Repeated shifts in policy have caused confusion among consumer housing plans, leading to a loss
Last January, according to Clarksons Research, a maritime and shipbuilding research institution, South Korea ranked second in global ship orders. While Korea’s shipbuilding industry has been a key player the international market with advanced technology, difficulties such as labor shortages and fluc
According to the Bank of Korea (BOK), as of the first quarter of 2024, South Korea’s household debt to gross domestic product (GDP) ratio reached 92.1%, ranking fifth among the top 30 major economies. Until recently, rising interest rates on housing loans made debt repayment more difficult, fueling
Last January, Shindongah Construction, a mid sized construction company, filed for court receivership with the Seoul Central District Court after failing to overcome its financial struggles. This adds to a string of construction firm bankruptcies since last year, fueling concerns over the industry’s
The Korean government plans to expand the MyData service beyond finance and public sectors to all areas of daily life starting in March 2025. While this scheme facilitates data management in various industries, concerns arise over data breaches and transmission costs. Considering these challenges, t
In October 2024, the World Bank announced that “1.2 billion people face life-changing risks through exposure to at least one critical climate hazard, such as heatwaves, flooding, hurricanes, and drought,” highlighting the severe climate change worldwide. Since climate change is mainly due to greenho
Musinsa, a leading online select shop in South Korea, launched the 2024 Mujinjang Summer Black Friday event this June, recording total sales of more than 200 billion. In recent years, Black Friday has evolved from a type of annual holiday to a hallmark of major discounts. With this year’s Black Fri
According to the Small Enterprise and Market Service in July this year, there are currently around 24,000 vacant stores in traditional markets nationwide. This marks a troubling increase of over 7,000 vacant stores compared to six years ago. Given this dire situation, the Sungkyun Times (SKT) aims t
With over 50,000 locations nationwide, convenience stores in South Korea are no longer merely stores. Today, they are not only a must-visit spot for tourists but also one of the central icons of the consumption trend, launching a number of instantly sold-out items, such as the Dubai chocolate. The S
Last January, the monetary value of online shopping mall transactions exceeded over ₩227 trillion, according to Statistics Korea. Since many Koreans now choose to shop online, the e-commerce market has grown to a significant scale. However, its recent growth has faced many problems. Thus, the Sungky
Today’s topic is cookies. Not the delicious, sweet chocolate chip kind of cookie, but an internet cookie that controls people’s data in the online space. Last April, more than 54 billion cookies of internet users were leaked onto the dark web, risking the private information of internet users. There
Over the years, South Korea has made substantial progress in space through technology and innovation. The Korea Aerospace Administration (KASA), which is to be established this May under the Ministry of Science and ICT, is the latest example to prove this. In this new emerging era, the Sungkyun Time
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
