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S. Koreans’ Overseas Direct Purchases Up 20 pct in First Half

S. Koreans’ Overseas Direct Purchases Up 20 pct in First Half

SEJONG, Sept. 17 (Korea Bizwire) — South Koreans’ direct purchases from foreign countries rose 20 percent in the first six months of 2019 from a year earlier as more consumers opted to buy quality goods at cheap prices, customs data showed Tuesday. South Korean shoppers bought a total of US$1.58 billion worth of foreign goods [...]

S. Korean Shipbuilders May Bag More Orders After Saudi Oil Attack

S. Korean Shipbuilders May Bag More Orders After Saudi Oil Attack

SEOUL, Sept. 17 (Korea Bizwire) — South Korean shipbuilders may receive more orders following drone strikes on Saudi Arabia’s crude processing facilities, analysts here said Tuesday, as the incident is likely to push up demand for liquefied natural gas (LNG) tankers and offshore facilities. Saudi Arabia shut down about half of its oil production Saturday [...]

S. Korea to Ban Marketing Activities for E-cigarettes

S. Korea to Ban Marketing Activities for E-cigarettes

SEOUL, Sept. 17 (Korea Bizwire) — Cigarette manufacturers will no longer be allowed to conduct various marketing activities for electronic devices used for smoking electronic cigarettes. The Ministry of Health and Welfare announced on Monday that new legislation will soon be implemented to ban such activities. The new legislation classifies electronic cigarettes as tobacco products [...]

Shinsegae’s BoonTheShop to Open at Harrods in London

Shinsegae’s BoonTheShop to Open at Harrods in London

SEOUL, Sept. 17 (Korea Bizwire) — South Korean retail conglomerate Shinsegae Group said Tuesday its luxury fashion brand, BoonTheShop, will open at an upscale British department store. BoonTheShop will get a space on the second floor of Harrods in London, marking the first time for a local fashion brand to do so, according to Shinsegae. [...]

Hanwha Total Expands Ethylene Production Capacity in S. Korea

Hanwha Total Expands Ethylene Production Capacity in S. Korea

SEOUL, Sept. 17 (Korea Bizwire) — Hanwha Total Petrochemical Co., a major petrochemical producer in South Korea, said Tuesday it has completed an expansion of its ethylene and propylene production facilities. Hanwha Total said its Naphtha Cracking Center (NCC) Side Gas Cracker at its plant in South Chungcheong Province has started commercial operations. Hanwha Total [...]

Online Sales of Cosmetics Products to Reach 10 Trillion Won This Year

Online Sales of Cosmetics Products to Reach 10 Trillion Won This Year

SEOUL, Sept. 16 (Korea Bizwire) – Online transactions of cosmetics are expanding as the entire distribution industry is increasingly leaning towards online platforms in South Korea. Statistics Korea and the cosmetics industry reported that online transactions of cosmetics products reached 6.6 trillion won (US$5.6 billion) between January and July, up 20 percent since last year. Cosmetics sales [...]