SEOUL, Jul. 10 (Korea Bizwire) — Finance Minister Choi Sang-mok said Wednesday that the government will devise measures to increase housing supply if needed, as South Korea has seen growing volatility in the real estate market. “Volatility has risen in the real estate market as housing prices have gone up in Seoul and some adjacent [...]
SEOUL, Jul. 10 (Korea Bizwire) – Samsung C&T Corporation, a major player in South Korea’s construction industry, is set to revolutionize home automation by introducing a service that controls various Internet of Things (IoT) devices from different brands through its proprietary home platform application, Homeniq. The construction division of Samsung C&T announced on July 9 that [...]
SEJONG, Jul. 9 (Korea Bizwire) – In a significant development for South Korea’s public housing sector, the Korea Land and Housing Corporation (LH) is utilizing modular construction techniques to build a new apartment complex in Sejong City’s 6-3 Living Area. This innovative approach promises to revolutionize the construction industry by significantly reducing build times and maintaining [...]
SEOUL, Jul. 9 (Korea Bizwire) – A new study has revealed that the average smoothie sold in Seoul contains as much sugar as 17 cubes, raising concerns about the health implications of these popular beverages. The Seoul Research Institute of Public Health and Environment announced on July 8 the results of its analysis of 93 different [...]
SEOUL, Jul. 9 (Korea Bizwire) – Lotte Mall West Lake Hanoi, a massive commercial complex praised by Lotte Group Chairman Shin Dong-bin as a market-leading business model, has surpassed 200 billion won (approximately $150 million) in cumulative sales less than a year since its opening. The mall’s success is largely attributed to its innovative merchandising strategy, [...]
SEOUL, Jul. 8 (Korea Bizwire) – In a surprising turn of events, private label (PB) home appliances are making significant inroads into the South Korean market, traditionally dominated by major corporate brands. This trend, driven by cost-conscious consumers amid high inflation, is reshaping the landscape of the home appliance industry. A prime example of this shift [...]
SEOUL, Jul. 8 (Korea Bizwire) – As sweltering heat and monsoon rains intensify, convenience stores and supermarkets in South Korea are turning to home delivery services to capture customers reluctant to venture out in inclement weather. Convenience stores and corporate supermarkets, known for their proximity to residential areas — so close that Koreans joke about going [...]
SEOUL, Jul. 8 (Korea Bizwire) — Nine out of 10 large companies in South Korea plan to maintain or increase their investments in the second half of the year, despite challenges such as prolonged high interest rates, a weak local currency and international uncertainties, a survey showed Monday. In the survey conducted by Mono Research, [...]
SEOUL, Jul. 8 (Korea Bizwire) – In response to rising inflation, South Korean convenience store chains are increasingly turning to direct sourcing of overseas products to offer affordable options to budget-conscious consumers. According to industry reports, major convenience store chains including CU, GS25, 7-Eleven, and Emart24 are each introducing 20 to 50 directly sourced products annually. [...]
SEOUL, Jul. 5 (Korea Bizwire) – A recent report from the Organization for Economic Cooperation and Development (OECD) has disclosed that counterfeit products violating the intellectual property rights of South Korean firms total $9.7 billion each year, a staggering 1.5% of the nation’s overall exports. The study, commissioned by the Korean Intellectual Property Office (KIPO) and [...]