Latest news with #MRTC
Korea Herald
01-05-2025
- Business
- Korea Herald
Credit card spending by foreign residents in Korea jumps 65% in 4 years, hitting W56tr
Foreign nationals living in South Korea are a growing force in the country's consumer economy, spending 56.3 trillion won ($39.3 billion) on locally issued credit cards in 2023, according to a December 2024 report from the Migration Research and Training Center based on Shinhan Card data. That's a 65 percent increase from 34.1 trillion won in 2019. The figure only includes transactions made by foreign nationals living in Korea who hold credit cards issued by Shinhan, one of South Korea's largest card providers by market share (18.6 percent as of Q1 2025). It excludes those using overseas cards, meaning actual foreign resident spending is likely significantly higher. As of 2024, foreign residents make up roughly 5 percent of the country's population. On average, each foreign cardholder spent 5.15 million won in 2023, up from 4.6 million won in 2021 — though still behind the 7.05 million won spent by the average Korean credit card holder. One of the most notable shifts is in how foreign residents are spending. The share of card purchases made via e-commerce more than doubled in just four years — from 9.7 percent in 2019 to 19.3 percent in 2023. Though traditional offline retail still leads (27.3 percent), this rapid growth in digital transactions reflects broader post-pandemic changes in consumer behavior — and a growing reliance on online platforms among foreigners navigating daily life in Korea, the report explained. This consumption surge is being driven by a demographic transformation. As of 2024, there were 2.65 million foreign residents in South Korea, up 690,000 from three years earlier, according to the Ministry of Justice. Many are no longer short-term workers; today's foreign population increasingly includes long-term residents — such as international students, permanent residents and marriage migrants. Between 2010 and 2023, the share of foreigners on low-skilled labor visas fell from 54.4 percent to 29.7 percent, while more stable visa categories such as marriage migrants (10.3 percent) and education-related residents (16.6 percent) have steadily expanded. Korean businesses are taking notice. Major banks like Shinhan and Hana have moved beyond remittance services to offer tailored savings products, loans, and even Korean language education, lifestyle content and community platforms. 'From currency exchange to home loans, this is one of the few areas where firms can generate immediate revenue by serving foreign residents,' a Shinhan Bank official said in the report. Still, retaining these customers long-term isn't guaranteed. The MRTC report points out that many foreigners face persistent hurdles in everyday services. 'This isn't just about more foreigners living in Korea. It's about a shift in the economy itself. For Korean businesses, foreign residents aren't just a market segment — they should be considered a structural part of the country's future,' an MRTC researcher said in the report.
Yahoo
23-04-2025
- Entertainment
- Yahoo
Free bike & kayak rentals available in Morgantown Saturday
MORGANTOWN, (WBOY) — The Morgantown community is coming together on Saturday to celebrate the start of spring and the recreation opportunities offered by the Mon River Trail. The Mon River Trails Conservancy (MRTC) is hosting the Spring Handmade Market on Saturday, April 26 for Celebrate Trails Day. The market will feature live music, dozens of food and craft vendors and a chance to rent bikes or kayaks from the Morgantown Adventure Outfitters for free. The rentals will be on a first-come, first-serve bases from noon to 6 p.m. Additionally, We Bike WV will be giving away free bikes for kids and accepting donated bikes to give back into the community, the Morgantown Tree Board will be giving out free white oak saplings, and several groups will be offering free activities for children. Clarksburg-Harrison Public Library opens 'Tool Lending Library' According to the MRTC, the event will take place from noon to 5 p.m. in Morgantown's The Wharf District along the Mon River Trail. Although the event is free to attend, 10% of all artisan sales from more than two dozen artisan vendors will go toward supporting local rail trails. Live music will be located along the trail at the Flour and Feed restaurant, with artists Dem Donkey Boys (12:30), Niko Kreider and John Posey of Big Fiddle (1:45), and Jim Truman (3:00). Other scheduled activities include a 2-mile spring walk leaving from near the Table 9 restaurant at 2 p.m. You can find a full list of activities and vendors online here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Broadcast Pro
05-03-2025
- Business
- Broadcast Pro
SipRadius to showcase remote production solutions at NAB Show
SipRadius is set to present its scalable and reliable solutions for remote production and connectivity at the NAB Show 2025, which will take place in the Las Vegas Convention Center, from April 6-9. At the forefront of its showcase is MRTC, a technology designed to resolve timing issues that often hinder remote productions. The latest MRTC version, debuting at NAB, introduces enhanced capabilities for managing and controlling NDI sources. This ensures that signals reach master control at the correct frame rate and with broadcast stability. Remote contributors can simply connect an NDI camera to an MRTC unit and access the internet, with the device providing stable and precise timing for both the camera and the transmitted signal. Sergio Ammirata Ph.D., Founder and Chief Scientist at SipRadius, said: 'IP is transforming the way we make television. Complex remote production environments can be created thanks to the ubiquity of fast internet connectivity. But we still have to work within the fundamental structures of television, including the expectation that we will get a fresh picture 59.94 times a second. 'The background of SipRadius is in delivering deterministic content, securely, over uncontrolled circuits, and we take a leading role in the standards which make professional video over the internet possible,' Ammirata continued. 'We knew there was a need for a bridge to bring timing together across remote production locations, and we had the technology to deliver it.' Talk to the SipRadius experts on a booth at NAB Show 2025 and see how simple it is to bridge across the internet for broadcast delivery and distribution. Stand W2420
