SEOUL, May 31 (Korea Bizwire) — South Korea’s industrial output rebounded in April following a sharp fall a month earlier, but retail sales and investment dropped for the second consecutive month, data showed Friday. Industrial output rose 1.1 percent on-month in April, compared with a 2.1 percent fall a month earlier, according to the data [...]
SEOUL, May 31 (Korea Bizwire) — Hanwha Group, a South Korean defense-to-insurance conglomerate, has been ranked among U.S. magazine Time’s 100 most influential companies of 2024. Hanwha Group was named in the Titans category for the Time 100 Companies list released Thursday (U.S. time), which also included Amazon, Airbus, TikTok, Microsoft, Pfizer and Nvidia. It [...]
SEOUL, May 29 (Korea Bizwire) – The spate of tanghulu (Chinese candied fruit skewer) shop closures in South Korea is a foretold tragedy. An analysis shows that tanghulu sales peaked in September 2023, just six months after the trend took off, and have been rapidly declining since. The fleeting nature of fad food businesses like Taiwanese [...]
SEOUL, May 29 (Korea Bizwire) — Unionized workers of Samsung Electronics Co. said Wednesday they plan to go on a strike amid stalled wage negotiations. The management of the South Korean tech giant and the company’s union have held rounds of talks and negotiations since January but failed to narrow their differences. If realized, it [...]
SEOUL, May 28 (Korea Bizwire) — Retail sales in South Korea grew 10.8 percent on-year in April on the back of stronger demand from the online segment, data showed Tuesday. The combined sales of 25 major offline and online retailers came to 15.4 trillion won (US$11.2 billion) for last month, compared with 13.9 trillion won [...]
SEOUL, May 28 (Korea Bizwire) — South Korea’s trade ministry said Tuesday it has agreed with the Association of Southeast Asian Nations (ASEAN) to expand cooperation in digital transition, clean energy and other areas. Trade Minister Cheong In-kyo met ASEAN Secretary-General Kao Kim Hourn in Seoul to discuss cooperation on areas of mutual interest, including [...]
SEOUL, May 28 (Korea Bizwire) – As South Korea’s wine market enters a more mature phase, expensive bottles priced over 100,000 won have been gaining popularity at major retail chains’ wine festivals, industry data shows. According to retailers, sales growth rates for wines costing over 100,000 won outpaced other price segments during the semi-annual “Super Wine [...]
SEOUL, May 27 (Korea Bizwire) — Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, said Monday it has signed a deal with Stax Engineering to adopt an emission reduction system for its pure car and truck carriers (PCTCs) as part of efforts to respond to the United States’ environmental regulations. With the deal, [...]
SEOUL, May 24 (Korea Bizwire) – Samsung Electronics retained its status as South Korea’s most valuable brand, its worth approaching 109 trillion won, as the nation’s marquee corporate names recorded robust brand value growth, according to a respected annual ranking. Interbrand, the global brand consultancy, unveiled its “Best Korea Brands 2024″ report on May 23, showing [...]
SEOUL, May 24 (Korea Bizwire) — The chipmaking sector’s upside cycle may last into the first half of next year and possibly beyond that time, giving a boost to the country’s exports, a report from the Bank of Korea said Friday. The global chipmaking sector rebounded early last year on the back of a boom [...]