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 [...]
SEOUL, Feb. 10 (Korea Bizwire) – South Korea seeks to start developing an advanced ship-based missile interceptor this year, the state arms procurement agency has said, amid efforts to counter evolving North Korean military threats. Last year, the country’s defense authorities approved a 690 billion-won (US$520 million) project set to run through 2030 to develop [...]
SEOUL, Feb. 10 (Korea Bizwire) – Exports of soju, distilled Korean liquor, topped US$100 million for the first time in 10 years in 2023, data showed Saturday. According to the Korea Customs Service, outbound shipments of soju reached $101.4 million in 2023, an increase of 8.7 percent from 2022. The last time soju exports surpassed [...]
SEOUL, Feb. 9 (Korea Bizwire) – Emart24 has announced it will be selling a limited number of tickets on a first-come, first-served basis for a dinner event scheduled for the evening of February 23 at the Conrad Seoul hotel’s VVertigo bar and lounge in Yeouido, Seoul. Following the success of the “Wine Gala Dinner [...]
SEOUL, Feb. 8 (Korea Bizwire) – Home electronics retailer ET Land reported on February 7 that sales of kitchen appliances have been on the rise, attributed to an increase in the number of people cooking at home due to the soaring cost of dining out. Sales of key kitchen appliances like electric ovens and ranges last [...]
SEOUL, Feb. 8 (Korea Bizwire) – SSG.com has announced that it is replicating its in-store tasting experience with its new “Online Tasting Event.” Starting on February 7, the first 8,000 customers who spend over 60,000 won on dawn deliveries will receive one of three complimentary Nestle gifts, including KitKat Green Tea, KitKat Original, or Starbucks Powdered [...]
SEJONG, Feb. 7 (Korea Bizwire) – Over the past three months, large corporate groups in South Korea, each with assets exceeding 5 trillion won, have been active in expanding their presence in advanced industries, acquiring or establishing eight companies in sectors such as semiconductors and secondary batteries. The real estate development and construction sectors also saw [...]
SEOUL, Feb. 7 (Korea Bizwire) – A recent study has shown that for every 10,000 won in sales, South Korean companies are spending an average of 690 won on logistics. The Korea Chamber of Commerce and Industry announced these findings on February 6, based on a survey conducted in the last quarter of last year. The [...]