SEOUL, Aug. 23 (Korea Bizwire) – A recent study has revealed a significant change in the eating habits of Seoul’s residents over the past decade, with a notable decrease in fruit consumption and an increase in meat intake. According to a report titled “Analysis of Seoul Citizens’ Dietary Habits and Policy Directions” released by the Seoul [...]
POHANG, Aug. 23 (Korea Bizwire) – “Fish farms in Pohang are on the brink of shutting down. We’re losing thousands to tens of thousands of fish daily,” lamented Lee Tae-hyung, a fish farm owner in Guryongpo-eup, Nam-gu in the city of Pohang, on August 22. Lee’s distress highlights the severe impact of recent high sea temperatures [...]
SEOUL, Aug. 21 (Korea Bizwire) – The government said Wednesday it will provide 1.6 trillion won (US$1.2 billion) in financial support, including loans, to help vendors hit by delayed payments of e-commerce platforms TMON and WeMakePrice. The announcement came after the two firms, owned by Singapore-based Qoo10, filed for corporate rehabilitation last month after failing to [...]
SEOUL, Aug. 20 (Korea Bizwire) – Small business owners in South Korea are preparing to differentiate prices between in-store and delivery orders, a move triggered by a recent increase in commission fees by Baemin, the country’s largest food delivery platform. This collective action, set to begin on August 22, is raising concerns about potential inflationary pressures [...]
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 [...]