SEOUL, Jan. 28 (Korea Bizwire) — As South Koreans hit the road for holiday travel, highway rest stops become essential destinations for refueling and grabbing snacks. During last year’s Chuseok holiday (September 14-18, 2024), the most popular item sold at rest stops nationwide was the Americano, generating 2.27 billion won ($1.57 million USD) in sales, according [...]
JEONJU, South Korea, Jan. 28 (Korea Bizwire) — The planned Saemangeum International Airport in South Korea is at the center of heated debate, with environmental groups and regional authorities clashing over its potential bird strike risks. Following the Jeju Air disaster at Muan International Airport, concerns have intensified about the safety of constructing an airport near [...]
SEOUL, Jan. 28 (Korea Bizwire) — The number of pets traveling on Korean Air flights has more than doubled over the past four years, reflecting the growing demand for pet-friendly travel. According to Korean Air, the total number of applications for pet transport—both as in-cabin companions and as checked baggage—reached 57,595 in 2024, a 12.6% increase [...]
SEOUL, Jan. 28 (Korea Bizwire) — As South Korea’s foreign workforce surpassed the 1 million mark in 2024, demand for job platforms catering specifically to foreign workers and employers has grown significantly. In response, recruitment services such as Job Korea’s Klik and Saramin’s Komate have launched to bridge the gap between foreign job seekers and local [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Korea’s three major department store chains said Tuesday their luxury goods sales continued to rise last year on steady demand for premium products despite an economic slowdown. Luxury goods sales at Lotte, Shinsegae and Hyundai department stores sharply increased during the 2020-2022 period when people were engaged in “revenge [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s luxury department stores are increasingly reliant on high-spending VIP customers, with their contribution to total sales surpassing 50% at some retailers in 2024, reflecting a growing polarization in consumer behavior amid economic challenges. According to industry data released on January 26, VIP customers accounted for 51% of sales [...]
SEOUL, Jan. 27 (Korea Bizwire) — In 2024, seven of the world’s top 10 shipbuilders by order volume were Chinese, reflecting a shift in global shipbuilding dynamics as Chinese shipyards capitalized on volume-based strategies, according to data released on January 26 by UK-based Clarkson Research. The top four shipyards—New Times Shipbuilding, Hudong-Zhonghua Shipbuilding, Yangzijiang Shipbuilding, and [...]
SEOUL, Jan. 27 (Korea Bizwire) — Subway fares in the capital area will increase by 150 won (US$0.10) to 1,550 won sometime in the first half of the year, according to the Seoul metropolitan government Monday. The hike was agreed to by the local governments of Seoul, Gyeonggi Province and Incheon, as well as the [...]
SEOUL, Jan. 27 (Korea Bizwire) — For the first time in history, transactions of Seoul apartments priced above ₩900 million accounted for more than half of the city’s total sales in 2024, reflecting a shift toward high-end properties amid rising home prices and a preference for “one solid investment.” According to the Ministry of Land, [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s e-commerce sector saw a challenging 2024, with economic pressures leading to reduced consumer spending across platforms. Despite these headwinds and competition from Chinese e-commerce players like AliExpress and Temu, Coupang and SSG.com maintained strong customer loyalty, according to data released on January 26 by analytics firm IGAWorks. SSG.com [...]