SEOUL, April 5 (Korea Bizwire) – While financial services companies exploring fintech systems were previously concentrated on payment settlement, they are now setting out in new fields, expanding their offerings to financial software or data analysis services. According to “The Rise of Fintech and Changes in the Financial Industry”, a report issued by the Hyundai [...]
SEOUL, April 5 (Korea Bizwire) – A new gardening craze is spreading in Korea, with intrepid gardeners boosting sales of related items online. Indoor plants are in the spotlight not just for the usual reasons, but also for their use as air purifiers or in cooking. Due to the popularity of indoor plants, the number of [...]
SEOUL, April 5 (Korea Bizwire) – Televisions produced by small and medium-sized companies are becoming popular for their unique value proposition of a high-quality image at a reasonable price. According to online shopping site Tmon (www.tmon.co.kr), the Q1 sales of TVs manufactured by small-size domestic companies increased by 63 percent year over year. As a [...]
SEJONG, April 5 (Korea Bizwire) – Sales of Korean cosmetics abroad have shown dramatic growth over the past few years, with exports now eclipsing the three trillion won mark. The Chinese market showed particular interest in Korean beauty products. According to data from the Korea Customs Service, exports last year increased by 53.1 percent compared [...]
SEOUL, April 5 (Korea Bizwire) – Multinational reinsurers are upping the ante to gain a bigger share in South Korea dominated by homegrown player Korean Re Co., industry people said Tuesday. Pacific Life Re Ltd., the reinsurance division of the U.S.-based Pacific Life group, joined other global peers such as Munich Re and Swiss Re by obtaining [...]
SEOUL, April 5 (Korea Bizwire) – Hyundai Motor Co., South Korea’s top automaker, saw its sales of the Genesis luxury sedan spike over 30 percent on-year in March in the United States, heating up competition mostly driven by German brands, industry data showed Tuesday. According to the data, Hyundai Motor sold 3,197 units of the Genesis [...]
SEOUL, April 5 (Korea Bizwire) – South Korean retail chain operator E-mart Inc. said Tuesday its sales of goods produced through collaborations with local pop stars have emerged as a new cash cow on the back of their strong popularity. E-mart, which rolled out different kinds of goods designed under ties with local entertainment agency S.M. [...]
SEOUL, April 5 (Korea Bizwire) – A large-scale Muslim tour group is set to arrive in South Korea next week following the recent visit by the largest-ever tour group from China, mirroring Muslims’ growing interest in the country, industry sources said Tuesday. According to the sources, some 200 employees of Malaysian firm Zhulian Group are planning [...]
SEOUL, April 5 (Korea Bizwire) – Overseas consumption by South Korean residents surged to a new high last year, central bank data showed Tuesday, mainly on a large increase in the number of people going abroad. In 2015, the overseas consumption expenditures of South Koreans came to 26.27 trillion won (US$22.74 billion), according to preliminary [...]
SEOUL, April 5 (Korea Bizwire) – Samsung Electronics Co. said Tuesday it has commenced the mass production of the industry’s first 10-nanometer level dynamic random access memory (DRAM) chips, speeding up its dominance in the segment. The South Korean giant said it is producing 8-gigabit DDR4 chips through 10-nanometer-level technology, a breakthrough which came around two [...]