Posts

Essential Guide for Living or Doing Business in Korea: Overseas Financial Account Reporting and International Transaction Reporting

Image
It is not practical to store large amounts of cash entirely in a home safe. For foreign residents living in Korea and overseas business operators, financial transactions are part of everyday life; however, overseas assets and international transactions that exceed certain thresholds are subject to mandatory reporting under Korea’s Overseas Financial Account Reporting System and international transaction reporting requirements. Essential Financial Rules for Foreign Residents in Korea: Overseas Account & International Transaction Reporting This article provides a clear and practical overview of Korea’s  Overseas Financial Account Reporting System  and the  International Transaction Information Integrated Report , both of which foreign nationals living in Korea or conducting business there must understand. It explains reporting thresholds, exemption criteria, reporting procedures, penalties for non-compliance, and multinational enterprise reporting obligations in an acce...

Who Was Eulji Mundeok, the Legendary Hero of Goguryeo Who Defeated the Sui Dynasty’s 1.13 Million-Strong Army?

Image
※ The image below is not the actual Cheongcheon River. Since the Cheongcheon River is currently located in North Korean territory and cannot be easily accessed or photographed, a different river with a similar atmosphere has been used as a substitute image. The Cheongcheon River is now beyond reach, lying within what is today North Korea. A grey heron stands quietly along the riverbank, seemingly indifferent as it searches for prey. In this river basin—neither particularly wide nor rugged—the course of East Asian history was once decided. Behind this tranquil natural landscape lie the fierce and decisive moments that shattered the ambitions of the Sui dynasty’s 1.13 million-strong army. Eulji Mundeok: A Legendary Korean Hero Who Changed the Course of East Asian History Eulji Mundeok was a great general of Goguryeo who defeated the invasion of the Sui dynasty, the most powerful empire in East Asia during the 7th century, using strategy alone. Through the Battle of Salsu, he saved h...

South Korea’s Low Birth Rate Crisis: A Warning from a Highly Competitive Society

Image
The issue of low birth rates goes beyond individual choice and is deeply connected to the social conditions that enable stable lives and family formation. The warm, harmonious family shown in this image symbolically reflects the importance of a society in which family life and child-rearing are respected as part of everyday life.  A Major Challenge Facing Korean Society: Understanding the Low Birth Rate Crisis South Korea currently records the  lowest fertility rate in the world . This article provides an accessible yet comprehensive overview of the  structural causes ,  social, economic, and cultural background , and  realistic policy challenges  behind Korea’s low birth rate, helping international readers better understand the realities and long-term tasks facing Korean society. Introduction: Low Birth Rates Are Not Simply a Matter of Personal Choice Dear readers, welcome. Today, I would like to discuss one of the most serious  structural crises ...

Namhae German Village Travel Guide | A European-Style Village in Korea Shaped by the Lives of Returning Miners and Nurses from Germany

Image
This landscape, where the blue sea of Namhae blends harmoniously with gently rolling hills, marks the beginning of the journey to Namhae German Village in the Republic of Korea. Far more than a simple tourist destination, this European-style village is a unique cultural travel site shaped by the history and homecoming of Korean miners and nurses who built their lives in Germany. With nature, history, and human stories woven together, Namhae German Village leaves a lasting impression on international travelers seeking a deeper understanding of Korea. Namhae German Village, Republic of Korea A Hidden European-Style Coastal Village Embracing a Powerful Human Story Discover Namhae German Village in South Korea—a European-style coastal village established by retired Korean miners and nurses who worked in Germany. This cultural travel guide explores its history, architecture, food, festivals, and practical travel tips in depth. Introduction: A European Village on Korea’s Southern Coast Dear ...