This article reminded me how much fun the electronic markets were before internet shopping became popular. Yongsan and Hwanghakdong’s electronic street are still popular places to buy PC parts and other electronics. Yongsan, in particular, is especially good for PC parts. Continue reading
Food trucks, like the ones found in US cities, will become legal in Korea as early as May. As part of sweeping de-regulations intended to help create jobs, the Park Geun-Hye administration will soon allow commercial trucks to be converted into moving restaurants (with wild menus). As long as food safety and cleanliness are maintained, this is a huge win for the citizens of Seoul and other big cities.
Of the 50 millions residents of South Korea, 1.4 million are foreign workers. The number has dramatically increased in recent years as Korean companies seek highly skilled international workers. The process to obtain a working visa has also been simplified since it moved online.
Samsung’s over-reliance on mobile phone sales brings weak profits again this quarter. Profits fell 4.3% due to sluggish handset sales and a poor domestic launch for their S5 (and a gloomy forecast for the next quarter). Samsung gets 70% of their revenue from phone sales. This represents over 75% of the Samsung group’s profits.
Korean copycat business Coupang (think Groupon, but started by a Korean studying in the US) and other social commerce sites are under investigation for selling fake goods and posting misleading product information. Last year, Coupang was also held accountable for misleading buyers to believe that fake leather goods were real ones.
Serviced by 7 airlines and with flights nearly every 5 minutes, Seoul to Jeju Island is the most travelled route in the world.
The Dongdaemun Design Park (DDP) opened to the public for the first time yesterday. Admission to most exhibitions is free right now but will change to 8,000Won at the end of March. The spaceship-like structure was built for $451mil, was design by renowned architect Zaha Hadid, and was funded by the Seoul city government. The 85,000 sq. meter structure, located in Jongno Seoul, is home to an art hall, museums, a design lab, and a multipurpose culture center. While the area remains largely open until 5AM with it’s boutique shopping, nightlife, and street food, the DDP will remain open 24 hours. Official site.
동대문 – dong-dae-mun – East Large Gate