SEOUL, Aug. 20 (Korea Bizwire) — Amorepacific Corp., South Korea’s leading cosmetics firm, said Tuesday it has launched its luxury Hera brand in Thailand as part of its expansion into Asian markets. The first Hera outlet in Thailand is located at the Central Chidlom department store in Bangkok, with more outlets set to be added [...]
SEOUL, Aug. 19 (Korea Bizwire) – As South Korean department stores struggle with sluggish consumer spending due to high inflation, sports merchandise sections have become an unexpected source of growth. According to reports from the country’s three major department store chains on August 18, sales in their sports categories increased by approximately 10% in the first [...]
SEOUL, Aug. 19 (Korea Bizwire) – With South Korea’s major duty-free retailers struggling to overcome a prolonged sales slump, they are increasingly turning their attention to an often overlooked demographic: domestic customers. With the summer travel season in full swing, these shops are launching aggressive marketing campaigns, including lavish prize drawings, to capture the wallets of [...]
SEOUL, Aug. 19 (Korea Bizwire) — The agriculture ministry said Monday the government will purchase a total of 450,000 tons of rice for its reserves to stabilize market prices and address an oversupply of the grain. Under the plan passed during a Cabinet meeting, the government will purchase 400,000 tons of rice harvested this year, [...]
SEOUL, Aug. 16 (Korea Bizwire) — South Korea’s business community has submitted formal concerns to the U.S. Treasury Department regarding Washington’s policy to restrict American investments in China’s advanced technology sector, sources said Friday. According to the sources, the Korea Chamber of Commerce and Industry (KCCI) sent a letter to the department on Aug. 4 [...]
SEOUL, Aug. 16 (Korea Bizwire) – In a surprising fusion of construction wear and fashion, Hyundai Construction has unveiled a stylish new work jacket that’s capturing the imagination of its employees across generations. The company announced on August 15 that it has released an MA-1 Padded Jumper as an exclusive jacket for Hyundai Construction employees, in [...]
SEOUL, Aug. 15 (Korea Bizwire) – In a blend of corporate social responsibility and patriotic observance, Domino’s Pizza marked Korea’s Liberation Day by distributing free pizzas to staff and visitors at the Daejeon National Cemetery on August 15. The pizza chain deployed its food truck, known as the “party car,” to the cemetery, which serves as [...]
SEOUL, Aug. 15 (Korea Bizwire) — Nearly 85 percent of the counterfeit goods seized by South Korean customs authorities in the first half of this year originated from China, data showed Thursday. The value of these fake goods, uncovered between January and June, totaled 93.4 billion won (US$68.6 million), with 83.6 percent, or 78.1 billion [...]
ULLEUNG, Aug. 14 (Korea Bizwire) – Recent incidents of electric vehicle (EV) fires have prompted ferry operators serving Ulleung Island, a popular tourist destination off South Korea’s east coast, to implement new restrictions on EV transportation. According to local authorities in Ulleung County, North Gyeongsang Province, H Shipping Company announced on August 13 that it would [...]
SEOUL, Aug. 14 (Korea Bizwire) — NCSOFT Corp., a South Korean gaming giant, said Wednesday it has decided to launch two new companies through a split-off as part of its efforts to increase competitiveness and tackle its management crisis. NCSOFT made the decision to separate its quality assurance service unit, NCQA, and software developing business [...]