SEOUL, March 2 (Korea Bizwire) – Louis Vuitton, along with Chanel and Hermès, is considered in South Korea as one of the big three high-end designer brands that are typically supposed to appeal to the top one-percent. And while Chanel and Hermès continue to symbolize wealth and affluence, Louis Vuitton has recently been struggling to [...]
SEOUL, March 2 (Korea Bizwire) – Re-selling limited edition products is good business for opportunists. The latest hype in Korea has been over the Adidas Yeezy Boost 350 v2 “Zebra,” co-designed by American rapper and producer Kanye West. This extremely limited edition pair of shoes sold for a retail price of 289,000 won ($255.75), but [...]
SEOUL, March 2 (Korea Bizwire) – Following allegations against Samsung Group and its role in President Park Geun-hye’s corruption scandal, and the subsequent arrest of its de facto leader Lee Jae-yong, Korea’s largest conglomerate decided to abolish its future strategy office while introducing a stringent screening procedure for any donations exceeding 1 billion won ($885,347) [...]
SEOUL, March 2 (Korea Bizwire) – On Wednesday, South Korea celebrated the 98th anniversary of the March 1st Movement – the 1919 independence movement against Japan’s colonial occupation – but with the nation deeply divided over President Park Geun-hye’s corruption scandal, which has been dominating the country’s airwaves since October 2016. With experts widely speculating [...]
SEOUL, March 2 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering Co., a major shipbuilder here, said Thursday that it has clinched a 414 billion won (US$363 million) deal to build two liquefied natural gas (LNG) carriers. Under the deal with an unidentified customer, Daewoo Shipbuilding will deliver the vessels by August 2019, the company [...]
SEOUL, March 2 (Korea Bizwire) – The collapse of Hanjin Shipping Co. is expected to push up shipping costs of local exporters, and thus undermine their competitiveness and profitability, a survey showed Thursday. The once top South Korean shipping line was declared bankrupt on Feb. 17. The failure of Hanjin is forcing local shippers to [...]
SEOUL, March 2 (Korea Bizwire) – Returns from investments in studio apartments in South Korea edged down in February from a month earlier due to oversupply, data showed Thursday. The annual returns from investments in studio apartments, better known as “officetels” in South Korea, stood at 5.09 percent in February, down from 5.11 percent in [...]
SEOUL, March 2 (Korea Bizwire) – An expected rise in demand for liquefied natural gas (LNG) is likely to boost demand for LNG carriers, which in turn will help South Korean shipbuilders clinch more LNG ships and related facilities, industry sources said Thursday. Earlier, Royal Dutch Shell, a global oil and gas firm, has said [...]
WASHINGTON, March 1 (Korea Bizwire) – Hyundai Motor Co. and its smaller affiliate, Kia Motors Corp., saw their combined sales in the United States drop nearly 7 percent in February as Kia’s sales slumped, industry data showed Wednesday. The two South Korean auto giants sold a combined 95,693 units in the U.S. last month, down [...]
SEOUL, Feb. 28 (Korea Bizwire) – South Korea’s President Park Geun-hye was named a bribery suspect on Tuesday as special prosecutors wrapped up their three-month probe into a massive influence-peddling scandal. The probe team, led by Independent Counsel Park Young-soo, suspects that the president colluded with her longtime friend Choi Soon-sil and took bribes from [...]