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 [...]
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 [...]
SEOUL, Aug. 14 (Korea Bizwire) — Women’s accessories, such as hats and sandals, sold on AliExpress, Temu and Shein, the biggest Chinese online retail platforms, have been found to contain toxic substances at up to 229 times higher than permitted levels, the Seoul city government said Wednesday. The city conducted safety examinations on 144 products [...]
SEOUL, Aug. 14 (Korea Bizwire) — Coupang Inc. said Wednesday it has resumed purchasing CJ CheilJedang Corp.’s products for delivery after a 20-month hiatus due to differences over their deals. CJ CheilJedang stopped selling its products to Coupang in December 2022 as they failed to narrow a gap over CJ’s product supply prices with the [...]
SEOUL, Aug. 13 (Korea Bizwire) – In a strategic shift to combat the migration of shoppers to online platforms, South Korean department stores are engaged in a fierce competition to introduce exclusive international cafes and dessert shops to the local market. Social media platforms are abuzz with posts from eager patrons flocking to newly opened establishments [...]
SEJONG, Aug. 13 (Korea Bizwire) — South Korea’s agriculture ministry said Tuesday that the country has received the nod from Britain to ship heat-treated chicken products to the European nation. The approval will allow South Korea to export a wide array of related products, including traditional chicken soup, or “samgyetang,” according to the Ministry of [...]
SEOUL, Aug. 12 (Korea Bizwire) – South Korea’s Fair Trade Commission (FTC) has taken action against four major K-pop merchandise retailers for unfair business practices, highlighting growing concerns over consumer rights in the booming idol goods market. The FTC announced on August 11 that it would issue corrective orders and impose fines totaling 10.5 million won [...]
SEOUL, Aug. 12 (Korea Bizwire) — CJ Foodville, the restaurant arm of food and entertainment conglomerate CJ Group, said Monday its bakery franchise Tous les Jours will open its first outlet in Singapore within this year. CJ Foodville has signed a master franchise contract with Royal T Group, the parent firm of a variety of [...]
SEOUL, Aug. 12 (Korea Bizwire) – As the summer heat intensifies in South Korea, cafe owners are feeling a different kind of burn: skyrocketing electricity bills and diminishing profits due to lingering customers. Yeo, the 30-year-old owner of a small cafe in Seoul’s Dongjak district, was taken aback after receiving the shop’s latest electricity bill. The [...]
GIMHAE, YANGSAN & MIRYANG, Aug. 9 (Korea Bizwire) – With a relentless heatwave gripping South Korea, authorities are scrambling to protect foreign workers in the manufacturing hubs of Gimhae, Yangsan, and Miryang from heat-related illnesses. According to the Yangsan branch of the Ministry of Employment and Labor, as of late June, 13,309 foreign workers were employed [...]