SEOUL, Apr. 1 (Korea Bizwire) — Exports of South Korea beverage products jumped to a record US$572 million last year helped by the popularity of Korean culture, government data showed Monday. The country’s beverage exports jumped 11.5 percent in 2023 from $513 million a year earlier, according to data from the Korea Agro-Fisheries & Food [...]
SEOUL, Apr. 1 (Korea Bizwire) – Hyundai Department Store is venturing into a new platform business aimed at boosting the global reach of Korean fashion brands and K-content like entertainment. The retailer has launched The Hyundai Global, a dedicated export platform that will discover content for overseas markets, handle logistics like customs clearance and inventory management, [...]
SEOUL, Mar. 29 (Korea Bizwire) — South Korea’s industrial output rose for the fourth consecutive month in February on the back of increasing semiconductor production, but retail sales fell amid high inflation, data showed Friday. Industrial output increased 1.3 percent on-month last month, following a 0.4 percent rise the previous month, according to the data [...]
SEOUL, Mar. 29 (Korea Bizwire) — Complaints filed against AliExpress, the e-commerce retail platform of China’s Alibaba Group, in South Korea nearly tripled in 2023 from a year earlier, a state-run consumer organization said Friday. The number of complaints submitted to the Korea Consumer Agency (KCA) against AliExpress jumped to 673 last year from the [...]
SEOUL, Mar. 29 (Korea Bizwire) — South Korean shipbuilder HD Hyundai Heavy Industries Co. said Friday it has received a US$463 million order in Peru to jointly build four warships with a local shipyard by 2029. Peru’s state-owned shipbuilder SIMA Peru S.A. placed the order for joint production of one 3,400-ton frigate, one 2,200-ton deepwater [...]
SEOUL, Mar. 29 (Korea Bizwire) – The number of one-person creative enterprises in South Korea reached 987,812 in 2021, a 7.7 percent increase from the previous year, the Ministry of SMEs and Startups announced on March 28. This growth rate outpaced the 5.8 percent increase in the total number of new businesses during the same period. [...]
SEOUL, Mar. 28 (Korea Bizwire) – In an exciting collaboration with the automotive lifestyle brand Peaches, Shinsegae Department Store has announced the introduction of Harrington Cars, miniature vehicle models based on iconic designs from renowned automakers like Mercedes-Benz and Ferrari – a first in South Korea. Harrington Cars are meticulously crafted at half the size of [...]
SEOUL, Mar. 28 (Korea Bizwire) – South Korea’s e-commerce market has become the battleground for a high-stakes investment war between domestic giant Coupang and Chinese powerhouse AliExpress, as both companies aggressively pursue market dominance. The clash intensified after AliExpress, owned by the Alibaba Group, announced plans to invest $1.1 billion (1.5 trillion won) in South Korea [...]
SEOUL, Mar. 27 (Korea Bizwire) — Coupang Corp., South Korea’s leading e-commerce company, said Wednesday it will invest 3 trillion won (US$2.23 billion) for the next three years to expand its renowned “rocket delivery” nationwide in a bid to solidify its dominance in the competitive market. The plan includes the establishment of over eight fulfillment [...]
SEOUL, Mar. 27 (Korea Bizwire) — LG Group said Wednesday it will invest 100 trillion won (US$74.4 billion) in South Korea by 2028 to sharpen future technologies and seek new growth drivers. Unveiled at the group’s annual shareholders meeting in Seoul, the long- and mid-term investment plan places an emphasis on advancing future technologies, including [...]