SEOUL, April 13 (Korea Bizwire) —GS E&C, the owner of the Xi apartment brand, is expanding into the single-family home market. The company announced on Thursday that its subsidiary, XiGEIST, which specializes in wooden modular houses, will launch its website and commence business-to-consumer (B2C) sales in earnest. The modular houses are produced in a factory [...]
SEOUL, April 13 (Korea Bizwire) — AE Brands Korea, the regional branch of Asahi Europe & International Ltd., said Thursday it hopes to recreate the success of its dark beer Kozel, with the launch of a new lager unveiled in South Korea for the first time globally. “Korea is our biggest market outside of Europe. [...]
SEOUL, April 13 (Korea Bizwire) — As mixology, a term for mixing various types of alcoholic drinks, is gaining popularity, convenience store chain operators are diversifying their alcohol ranges by releasing highballs, a type of cocktail normally made with Scotch whisky and carbonated water. CU released a lemon highball in collaboration with local artist Chungshin. [...]
SEOUL, April 13 (Korea Bizwire) — TV home shopping channels are evolving towards the entertainment industry by adding fun and culture to their existing business of selling products. CJ Onstyle, a home shopping unit of South Korean entertainment giant CJ ENM, on Wednesday aired a showcase for the upcoming tvN comedy drama series “Family.” This [...]
SEOUL, April 12 (Korea Bizwire) — Rising consumer prices have led to the rising popularity of “ugly” fishery products, attracting consumers with their competitive pricing. SSG.com, the online mall arm of South Korean retail giant Shinsegae Group, introduced “ugly” fishery products like South Korean squid and Argentinian shrimp at the newly opened misfits market for [...]
SEOUL, April 11 (Korea Bizwire) — Large South Korean firms saw their interest expenses spike more than 50 percent in 2022 from a year earlier due to rising interest rates, a corporate tracker said Tuesday. The combined interest cost of 377 out of the country’s top 500 firms by sales stood at 39.9 trillion won [...]
SEOUL, April 10 (Korea Bizwire) — South Korean convenience store chains are continuing discount promotions for popular alcoholic beverages, including whisky and wine. CU sold 1,600 bottles of some 30 popular whiskies and wines at 30 stores in the Seoul region last weekend at a discount rate of up to 30 percent. Balvenie 12-Year-Old Double [...]
HANOI, April 10 (Korea Bizwire) — South Korean companies’ investment in Vietnam plunged more than 70 percent in the first quarter of this year amid tougher local regulations and a global economic slump, data showed Monday. South Korean firms’ investments in the Southeast Asian country totaled US$474 million in the January-March period, down 70.4 percent from [...]
SEOUL, April 10 (Korea Bizwire) — More than half of major listed firms in South Korea saw their financial soundness worsen in 2022 amid high global interest rates and inflation, data showed Monday. The debt-to-equity ratio of 56 out of the 106 listed companies belonging to the country’s top 10 business groups increased last year [...]
SEOUL, April 9 (Korea Bizwire) — South Korea’s exports of instant noodles jumped 14.3 percent on-year in the first three months of 2023 to reach the highest figure for any first quarter ever amid the growing popularity of the Korean culture, data showed Sunday. The country exported US$208 million worth of instant noodles, or “ramyeon” [...]