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Chinese Smartphone Makers Seek High-End Market

Chinese Smartphone Makers Seek High-End Market

SEJONG, Feb. 16 (Korea Bizwire) – Chinese smartphone makers have been rolling out pricey models to play catch up with Apple Inc. and Samsung Electronics Co., which dominate the high-end smartphone market in the country, a Seoul trade body said Thursday.  According to the Shanghai office of the Korea Trade-Investment Promotion Agency (KOTRA), Chinese smartphone [...]

Korean Men Embrace Cooking, Drive Changes in Kitchen Design

Korean Men Embrace Cooking, Drive Changes in Kitchen Design

SEOUL, Feb. 15 (Korea Bizwire) – Korean society, a once highly patriarchal civilization where almost all housework was the domain of women, is undergoing a rapid transformation, and home interior and furniture manufacturer Hanssem, which was founded in 1970, says this change can best be observed in Korean kitchens.  According to the company, the average [...]

New Convenience Store Offers Classical Music Experience

New Convenience Store Offers Classical Music Experience

SEOUL, Feb. 14 (Korea Bizwire) – In a new addition to the list of unique convenience stores in South Korea, Shinsegae’s convenience store franchise With Me opened Monday a new outlet at the Seoul Arts Center with classical music as its main theme. The 79-square-meter store is With Me’s 1,830th outlet. It has a fan-shaped [...]

Korean Cosmetics Businesses on High Alert amid THAAD Woes

Korean Cosmetics Businesses on High Alert amid THAAD Woes

SEOUL, Feb. 13 (Korea Bizwire) – China is maintaining a firm stance against South Korea’s deployment of an American THAAD missile battery, imposing a string of retaliatory measures against Korean businesses, including cosmetics companies, that have made significant progress in the Chinese market in recent years.  According to INI R&C, a Korean research firm, Chinese [...]

Luxury Watch Sales Grow Despite Economic Slump

Luxury Watch Sales Grow Despite Economic Slump

SEOUL, Feb. 13 (Korea Bizwire) – Despite the prolonged economic downturn, sales of luxury watches once again soared last year.  Hyundai Department Store said Sunday that sales of high-end watches have consistently increased in recent years, jumping by 16.3 percent in 2014 (year-on-year), 30.1 percent in 2015, and by 34.1 percent in 2016.  The rise [...]

Children’s Clothing, School Products Turn Luxurious

Children’s Clothing, School Products Turn Luxurious

SEOUL, Feb. 13 (Korea Bizwire) – Top luxury brands popular with adults are also grabbing the market for children, their sales increasing as kids get ready to go back to school this month or next, industry officials said Monday.  Some of the most popular items cost well over 1 million won (US$867). A Gucci-labeled backpack [...]

Shareholders of Harman to Vote on Acquisition Deal by Samsung This Week

Shareholders of Harman to Vote on Acquisition Deal by Samsung This Week

SEOUL, Feb. 13 (Korea Bizwire) – Shareholders of Harman International Industries Inc. will hold a meeting later this week to vote on a deal by Samsung Electronics Co. to acquire the U.S. car technology firm, according to industry sources Monday.  In a deal worth US$8 billion, Samsung announced last November that it would buy Harman [...]

Lotte Pulls Business from Alibaba Shopping Mall amid THAAD Tension

Lotte Pulls Business from Alibaba Shopping Mall amid THAAD Tension

SEOUL, Feb. 9 (Korea Bizwire) – Amid the ongoing tension over Korea’s THAAD deployment decision of last year, Lotte, Korea’s fifth largest conglomerate, and the company providing the site for the missile defense system, has just pulled its business from Alibaba’s e-commerce platform Tmall.     Lotte’s business venture in China has been struggling recently with [...]