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, 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 [...]
SEOUL, Apr. 15 (Korea Bizwire) — GN Food, the operator of South Korea’s leading roasted-chicken franchise Goobne Chicken, said Monday it has opened its fourth outlet in the United States. With the opening of the store located in Los Angeles’ Korea Town, Goobne has four U.S. outlets that include two in LA and one in [...]
SEOUL, Apr. 15 (Korea Bizwire) — South Korea’s top container shipper HMM Co. said Monday it will push to expand its fleet sharply over the next seven years in a bid to boost its competitive edge and secure a stable business base. Under the mid- and long-term strategy, HMM will raise its container shipping capacity [...]
SEOUL, Apr. 15 (Korea Bizwire) — Container shipping costs from South Korea to Europe soared nearly 40 percent on-year in March amid ongoing tensions surrounding the Red Sea, the customs agency said Monday. The average shipping cost for a 40-foot container for the South Korea-European Union route came to 4.25 million won (US$3,077) last month, [...]