SEOUL, Apr. 22 (Korea Bizwire) – A new study suggests that network operators, including telecommunications companies, provide benefits worth an estimated 506 billion won annually to Netflix users in South Korea. The research paper titled “An Empirical Study on the Benefits Provided by Internet Service Providers (ISPs) to Over-the-Top (OTT) Service Users,” authored by Professor Byun [...]
SEOUL, Apr. 19 (Korea Bizwire) — Yonhap News Agency, South Korea’s key wire service, began an annual exposition Friday aimed at helping urban dwellers resettle in rural regions and providing export opportunities for local farms. The three-day Y-Farm Expo 2024, co-hosted by the National Agricultural Cooperative Federation, will run at the Suwon Convention Center in [...]
SEJONG, Apr. 18 (Korea Bizwire) –The number of farming households in South Korea fell below one million last year for the first time on record, according to government statistics released on April 18, underscoring the rapidly aging population in the rural areas of the country. The 2023 Agriculture, Forestry and Fisheries Survey by Statistics Korea [...]
SEOUL, Apr. 18 (Korea Bizwire) – Over the past decade, Taiwan’s 100 largest companies by market capitalization have surpassed their South Korean counterparts in terms of total market value and operating profits, according to a new analysis. A study by the corporate data research firm CEOScore, which examined the top 100 non-financial companies in South Korea [...]
SEOUL, April 17 (Korea Bizwire) – McDonald’s Korea announced on April 17 that its sales reached nearly 1.3 trillion won last year, marking an all-time high for the fast-food chain in the country. Including franchise sales, the company’s total revenue amounted to 1.29 trillion won, surpassing the 1 trillion won mark for the third consecutive year [...]
SEOUL, Apr. 17 (Korea Bizwire) – South Korea saw record-breaking imports of pineapples and mangoes last month, driven by a surge in demand for cheaper fruit alternatives as apple and pear prices remained elevated, according to trade data released on April 16 by the Korea Customs Service. Pineapple imports soared to 8,686 tons in March, a [...]
SEOUL, Apr. 17 (Korea Bizwire) — South Korea’s beer imports dropped 20 percent in the first quarter from a year earlier, according to data on Wednesday, as beer purchases from China plunged following the release of a viral video showing a man urinating into a tank at Tsingtao Brewery last year. The country imported US$45.16 [...]
SEOUL, Apr. 17 (Korea Bizwire) — Hanwha Ocean Co., the world’s third-largest shipbuilder by order backlog, said Wednesday it has clinched a 176.4 billion-won (US$127 million) order to build a liquefied petroleum gas (LPG) carrier for a shipper based in the Americas. Hanwha Ocean will build the vessels at its shipyard in Geoje on the [...]
SEOUL, Apr. 16 (Korea Bizwire) — Coupang, the South Korean e-commerce giant, has significantly increased the monthly fee for its premium Wow Membership service, raising it to 7,890 won 4,990 won. This bold move has sparked an unexpected “membership war” across the retail industry, as competitors scramble to improve their own loyalty programs to retain customers [...]
SEOUL, Apr. 15 (Korea Bizwire) — Despite a significant drop in sales for major online luxury goods platforms in South Korea due to the economic downturn, the pre-owned luxury market has shown resilience, even setting a record transaction volume last month in line with the start of the new school year, industry data showed on April [...]