SEOUL, April 17 (Korea Bizwire) — The number of farming households in South Korea remained below the 1 million mark for the second consecutive year in 2024, continuing a long-term decline amid the country’s aging population and rapid urbanization, data showed Thursday. According to the data compiled by Statistics Korea, the number of farming households [...]
CHEONGSONG•ANDONG, South Korea, April 17 (Korea Bizwire) — A series of large-scale wildfires that swept through South Korea’s northern Gyeongsangbuk-do Province earlier this year are threatening to severely reduce the country’s apple harvest, fueling concerns that soaring prices may again lead to so-called “golden apples” in the marketplace. The fires, which ravaged key apple-producing counties [...]
SEOUL, April 17, (Korea Bizwire) — As climate change shortens South Korea’s transitional seasons and extends the summer, retail sectors are seeing shifting consumer behaviors and divergent business fortunes. While spring fashion sales slump amid erratic weather and weak consumer sentiment, electronics retailers are benefiting from an early surge in demand for summer appliances. According [...]
SEOUL, April 17, (Korea Bizwire) — In a significant move to stabilize the nation’s troubled real estate project financing (PF) market, South Korea’s National Assembly has approved a bill enabling Real Estate Investment Trusts (REITs) to engage not only in property investment but also in development and leasing projects. The Land, Infrastructure and Transport Committee’s [...]
SEOUL, April 16 (Korea Bizwire) — South Korea’s top food delivery app Baemin is facing mounting criticism from small business owners after it began charging a 6.8% service fee on takeout orders this week—a move seen as a reversal of the hard-won compromise on delivery commissions reached in 2024. On April 14, the first day the [...]
SEOUL, April 16 (Korea Bizwire) – Acting President Han Duck-soo said Wednesday that strengthening shipbuilding cooperation with the United States could provide an opportunity for the South Korean shipbuilding industry to “make a leap forward.” Han made the remark during his visit to HD Hyundai Heavy Industries (HHI) Co.’s shipyard in Ulsan, 305 kilometers southeast [...]
SEOUL, April 15, (Korea Bizwire) — South Korea’s TV home shopping industry continues to face mounting financial strain as broadcasting fees soared to consume more than 70 percent of television sales revenue in 2024, despite a modest rise in overall sales. According to a report released Monday by the Korea TV Home Shopping Association, the [...]
SEOUL, April 14 (Korea Bizwire) — Dongwon Group, a major food company in South Korea, said Monday it will reorganize its food business affiliates to expand its overseas sales as part of its broader strategy to become a global player. At board meetings, the boards of directors approved a plan to make Dongwon F&B Co. [...]
SEOUL, April 11 (Korea Bizwire) — IKEA Korea, the South Korean operations of Swedish furniture giant IKEA, said Friday it will strengthen the “omnichannel” strategy to boost sales. IKEA Korea currently operates four outlets — three near the capital of Seoul and one in the southeastern port city of Busan. The fifth one is set [...]
SEOUL, April 10 (Korea Bizwire) — Hyundai Engineering & Construction announced Thursday the launch of South Korea’s first in-apartment meditation booths designed exclusively for individual use, a move aimed at enhancing mental wellness and emotional stability among residents. Branded as the H Calming Booth, the new feature will debut at Hillstate Homeasil, a Hyundai apartment [...]