SEOUL, April 17 (Korea Bizwire)– South Korean retail giant Lotte Group said Tuesday that it has recently completed purchasing a hotel and farm in Russia as it moves to expand its presence in the country’s far eastern region. Hotel Lotte, the lodging and accommodation arm of South Korea’s fifth-largest conglomerate that has sprawling businesses in [...]
SEOUL, April 17 (Korea Bizwire) — K-pop sensation BTS will make a comeback next month by releasing its third full-length album, its agency said Tuesday. “Love Yourself: Tear,” the follow-up to the band’s smash hit “Love Yourself: Her” from last year, will drop on May 18, according to Big Hit Entertainment. The group released a [...]
SEOUL, April 17 (Korea Bizwire) — E-Mart Inc., a major discount chain operator under South Korean retail giant Shinsegae, revealed an autonomous shopping cart for a test run on Tuesday, as the company moves to secure the competitiveness of its offline distribution channels. Dubbed eli, two of the carts will be showcased at the firm’s [...]
SEOUL, April 17 (Korea Bizwire) — People staying indoors to stay away from chronic fine dust have changed recent sales trends, increasing the popularity of toys and exercise machines while hurting demand for drones, data from a major retailer showed Tuesday. According to E-Mart Inc., South Korea’s No. 1 hypermarket chain, sales of toys rose [...]
SEOUL, April 17 (Korea Bizwire) — The number of subscribers to pay TV keeps falling, especially among the younger generation and one-person households, a report said Tuesday. According to the research by the Korea Information Society Development Institute, the service termination rate reached 6.86 percent last year, up from 6.54 percent the year before. The [...]
SEOUL, April 16 (Korea Bizwire) — The government plans to keep the growth rate of household debt to below 8.2 percent this year by taking a set of steps to curb excessive lending, the nation’s top financial regulator said Monday. Outstanding household debt stood at 1,450.9 trillion won (US$1.35 trillion) in the fourth-quarter of last [...]
SEOUL, April 16 (Korea Bizwire) — Hanwha Systems, a South Korean solution provider for defense electronics, said Monday that it has unveiled its naval combat management system at a defense and security exhibition in Malaysia. The company said it will ramp its sales pitch for its system at the Defence Services Asia Exhibition and Conference [...]
SEOUL, April 16 (Korea Bizwire) – Samsung Electronics Co. was named the fifth-most admired firm in Canada, an industry tracker said Monday, recovering its reputation tainted by the suspended production of the Galaxy Note 7 in 2015. According to the report announced by Canadian researcher Leger, Samsung Electronics earned a reputation score of 75 to rank [...]
SEOUL, April 16 (Korea Bizwire) — South Korea’s sportswear market is expected to surpass the 2 trillion won (US$1.87 billion) mark in size this year, a report showed Monday. The market size for sports fashion tripled from 500 billion won in 2009 to 1.5 trillion won in 2016, Lotte Shopping Co. said, citing a report [...]
SEOUL, April 16 (Korea Bizwire) — K-pop group TWICE plans to release a new Japanese single next month, according to its agency Monday. The group’s third Japanese single, “Wake Me Up,” will be released on May 16 in the neighboring country, JYP Entertainment said. TWICE debuted in Japan in June 2017 with the compilation album [...]