SEOUL, Feb. 23 (Korea Bizwire) – Make-up products accounted for more than half of the annual sales at duty-free shops in South Korea last year, fueled by brisk demand from foreign tourists immersed in Korean entertainment culture, data showed Thursday. The combined cosmetics revenue from duty-free chains, including top players Lotte Duty Free and Shilla [...]
SEOUL, Feb. 22 (Korea Bizwire) – Delivery subscriptions for products other than conventional newspapers or milk are becoming more popular in South Korea, and now address a variety of needs and wants including personal interests and pastime activities. According to BINS 3.0, SK Planet’s social analysis system, online mentions of “delivery subscription” – on blogs, [...]
SEOUL, Feb. 22 (Korea Bizwire) – Exports of South Korea-made cosmetics soared more than 10-fold over the past seven years, government data showed Wednesday, as the Korean Wave, or Hallyu, fueled robust demand from China and other Asian countries. Outbound shipments of makeup products reached US$4.18 billion in 2016, compared to $451.15 million tallied in [...]
SEOUL, Feb. 20 (Korea Bizwire) – The corporate reputation ranking of Samsung in the eyes of American consumers plunged 42 spots to 49th in 2017, according to an annual survey on Monday. The sharp drop in the survey by The Harris Poll on corporate brands came as Samsung is struggling with the global recall of [...]
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 [...]
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 [...]
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 [...]
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 [...]
SEOUL, Feb. 13 (Korea Bizwire) – South Korea’s domestic sales of personal computers inched up in 2016 from a year earlier, marking the first such growth in five years, industry data showed Monday. According to the data compiled by market researcher IDC Korea, South Korea’s sales of PCs came to 4.62 million units last year, [...]
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 [...]