SEOUL, Jan. 5 (Korea Bizwire) — South Korea’s food industry is releasing a string of gift sets using eco-friendly packaging ahead of the Lunar New Year holiday. Dongwon F&B Co. released a gift set packaged in an eco-friendly material, Paper Press. It is 100 percent made of paper. A tray made of this material has [...]
SEOUL, Jan. 4 (Korea Bizwire) — Home prices in South Korea are cooling at a jaw-dropping clip amid soaring borrowing costs and an economic slowdown, portending that indebted home owners may face the toughest-ever challenge this year and Asia’s fourth-largest economy may suffer a decline in private spending. The country’s apartment prices nationwide fell 0.76 [...]
SEOUL, Jan. 3 (Korea Bizwire) — GS Retail Co. said Monday it will be installing foreign currency exchange kiosks at stores that are part of its convenience store chain GS25 and supermarket unit GS The Fresh. The forex kiosks will be operated on a trial basis at about 10 stores run by the company. The [...]
SEOUL, Jan. 2 (Korea Bizwire) — South Korea’s exports of farm and fisheries products reached an all-time high last year, surpassing the US$10 billion mark for the second consecutive year, data showed Monday. Outbound shipments of agricultural and fisheries goods rose 5.45 percent on-year to come to a record high of $11.98 billion in 2022, [...]
SEOUL, Jan. 2 (Korea Bizwire) — South Korean shipbuilder Samsung Heavy Industries Co. said Monday a total of 41 Indonesian welders have arrived here to work at its shipyard on the southern coast. The Indonesians, who arrived Saturday, mark the single largest batch of foreign workers to come to South Korea since the government eased [...]
SEOUL, Jan. 2 (Korea Bizwire) — Hanwha Group will push to develop Daewoo Shipbuilding & Marine Engineering Co. (DSME) into a major global enterprise after acquiring the troubled shipyard, the group chief said Monday. “Hanwha will make efforts to promote DSME as a major global business area that could represent South Korea and take the [...]
SEOUL, Dec. 29 (Korea Bizwire) — South Korea’s top steelmaker, POSCO, has restored most of its facilities damaged by a September typhoon and normalized production, the industry ministry said Thursday. The superstrong Typhoon Hinnamnor pounded POSCO’s steel mill in Pohang, 272 kilometers southeast of Seoul, leading to the suspension of its major facilities. All three [...]
SEOUL, Dec. 29 (Korea Bizwire) — Retail sales in South Korea grew 8.4 percent on-year in November on the back of major shopping events and growing demand for foodstuff and other items during the World Cup, the industry ministry said Thursday. The combined sales of 25 major offline and online retailers came to 14.8 trillion [...]
SEOUL, Dec. 29 (Korea Bizwire) — South Korean shipbuilders lagged behind their Chinese rivals in terms of new global orders in 2022 to take the No. 2 spot in the world for the second straight year, industry data showed Thursday. Local shipbuilders clinched a combined 15.64 million compensated gross tons (CGTs) in new orders this [...]
SEOUL, Dec. 28 (Korea Bizwire) — South Korea’s advertising market grew 8.6 percent in 2021 from a year earlier, led by strong demand in digital advertisements, a government report showed Wednesday. Advertising expenses amounted to 18.9 trillion won (US$14.9 billion) last year, according to the report from the Ministry of Culture, Sports and Tourism. The [...]