SEOUL, Feb. 16 (Korea Bizwire) – A recent study conducted by Samsung Electronics highlights the significant amount of time Europeans spend contemplating household tasks, amounting to approximately 86% of the actual time dedicated to performing these chores. The survey, which involved 6,066 participants from countries including the U.K., France, Germany, Spain, Italy, and Poland, revealed that [...]
SEOUL, Feb. 15 (Korea Bizwire) — The Seoul government and five major banks here plan to provide nearly 76 trillion won (US$56.9 billion) this year to help local businesses invest in new advanced technologies and lower their financial burdens, the financial regulator said Thursday. The move comes amid high interest rates that have placed additional [...]
SEOUL, Feb. 15 (Korea Bizwire) — Container shipping costs from South Korea to Europe soared more than 70 percent last month amid escalating tensions in the Red Sea, data showed Thursday. The average shipping cost for a 40-foot container for the route surged 72 percent on-month to come to 4.35 million won (US$3,262.5) in January, [...]
SEOUL, Feb. 15 (Korea Bizwire) – In an era marked by high inflation, consumers are increasingly seeking value for their money, leading to a significant surge in sales for budget coffee franchises last year. According to NH Nonghyup Card, these affordable coffee chains, including Mega Coffee, Paik Dabang, Compose Coffee, and Mammoth Coffee, witnessed a 37% [...]
SEOUL, Feb. 13 (Korea Bizwire) — South Korea’s exports fell nearly 15 percent on-year in the first 10 days of February due mainly to fewer working days, but sales of semiconductors soared more than 40 percent, data showed Tuesday. Outbound shipments reached US$15.01 billion in the Feb. 1-10 period, compared with $17.57 billion tallied a [...]
BUSAN, Feb. 13 (Korea Bizwire) – Shinsegae Centum City has announced a gradual expansion of its vegan cosmetics line, signaling a shift towards more environmentally friendly and ethical consumer choices. The department store recently inaugurated an Hourglass store on February 1, adding to its growing list of eco-friendly and vegan brands such as Dear Dahlia, Urban [...]
SEOUL, Feb. 12 (Korea Bizwire) – South Korea boasted the fourth-largest number of Starbucks outlets globally as of last year, driven by robust demand from local consumers. According to data released Monday by the U.S. coffee giant, South Korea had 1,893 Starbucks stores in 2023, marking an increase of 116 from the previous year. Despite [...]
SEOUL, Feb. 11 (Korea Bizwire) – In the midst of rising interest rates and a challenging economic landscape, the market for office property transactions in South Korea has seen a notable decline. Despite these conditions, financially solid domestic firms have stepped up as prominent buyers, eagerly purchasing office buildings to serve as their corporate headquarters. [...]
SEOUL, Feb. 11 (Korea Bizwire) – Shin Ramyun was the bestselling instant noodles in South Korea last year and Saeukkang was the top selling snack, data showed Sunday. Retail sales of Shin Ramyun of Nongshim, available in both packaged and cup noodle forms, amounted to 383.6 billion won (US$287.8 million) last year, topping the list [...]
SEOUL, Feb. 11 (Korea Bizwire) – Despite a general tightening of consumer spending due to a nation-wide economic slowdown, outlet stores are ramping up their VIP marketing efforts to draw in big spenders. Unlike department stores where achieving the highest VIP status can require annual spending of over 150 million won, outlets offer VIP tiers [...]