SEOUL, Nov. 21 (Korea Bizwire) – After becoming nuisances at department stores due to the growth of online shopping, young fashion brands are turning into cash cows amid an economic slump and consumption polarization. Young fashion brands, which cater to the consumption trend of the MZ generation with high cost efficiency and trendy design, are enjoying [...]
SEOUL, Nov. 21 (Korea Bizwire) – Last Saturday, LG Electronics experienced a rapid sell-out of 300 limited edition Standby Me Go units within just nine minutes of their release on the company’s online brand shop. This exclusive release was in celebration of the LG Twins baseball club’s Korean Series victory, led by LG Chairman Koo Kwang-mo, [...]
SEOUL, Nov. 21 (Korea Bizwire) – While Costco, the U.S. warehouse discount store, achieved a milestone in South Korea with annual sales exceeding 6 trillion won for the first time, its social contributions in the country have dwindled. Moreover, the company remitted a dividend to its U.S. headquarters that surpassed its annual operating profit. Costco Korea’s [...]
SEOUL, Nov. 20 (Korea Bizwire) – Consumer grievances regarding Dyson, a renowned British brand positioned as a “premium” home appliance provider, have seen a substantial surge. Individuals who were drawn to Dyson products for their distinctive design, convenience, and exceptional features are encountering challenges with post-purchase services. Numerous instances have emerged where consumers, even months after [...]
SEOUL, Nov. 19 (Korea Bizwire) –Whiskey sales at major retailers have outpaced those of imported beer, largely due to the rising popularity of the customizable highball trend. Conversely, imported beer, once a competitive force against local products, appears to have ceded ground to whiskey, particularly following the ascent of wine. E-mart reported on Sunday that [...]
SEOUL, Nov. 17 (Korea Bizwire) — South Korean shipyard HD Korea Shipbuilding & Offshore Engineering Co. said Friday it has bagged a 444.4 billion-won (US$340 million) order to build two very large ethane carriers for an Asian shipper. HD Hyundai Heavy Industries Co., one of HD Korea Shipbuilding’s three shipbuilding units, will construct the 98,000-cubic-meter [...]
SEOUL, Nov. 16 (Korea Bizwire) — South Korea’s beer imports from China plunged more than 40 percent last month from a year earlier following the release of a viral video showing a man urinating into a tank at Tsingtao Brewery, the customs office said Thursday. The amount of beer imports from China fell 43 percent [...]
SEOUL, Nov. 16 (Korea Bizwire) – The South Korean importer of Qingdao beer, which became embroiled in controversy following a video showing an employee at a Chinese production plant engaging in shockingly inappropriate behavior, has initiated a voluntary retirement program. This decision comes in the wake of a significant downturn in Qingdao beer sales. The once-popular [...]
SEOUL, Nov. 15 (Korea Bizwire) — KT Corp., a major telecom company in South Korea, is scheduled to end its domestic telegram service in December, 138 years after its debut in the country, industry sources said Wednesday. KT, South Korea’s top fixed-line operator, posted on its webpage on Nov. 2 a notice that its 115 [...]
SEOUL, Nov. 15 (Korea Bizwire) – With the home shopping industry facing significant challenges, major players in Korea are grappling with a somber third-quarter performance. The primary culprits behind this downturn include dwindling television viewership and the growing burden of broadcasting fees, which home shopping companies must bear to maintain channels on pay-TV networks. Notably, the [...]