SEOUL, Aug. 12 (Korea Bizwire) — The cosmetics industry is making various attempts to broaden and capture more of the domestic market, including initiatives to take advantage of IT-based services combined with state-of-the-art technology such as makeup consultation provided by artificial intelligence (AI). According to industry sources on August 11, Nature Collection, a beauty lifestyle [...]
SEOUL, Aug. 11 (Korea Bizwire) – Hyundai Merchant Marine Co., South Korea’s top shipping firm, said Friday that it continued to suffer an operating loss in the second quarter of the year due to still lower freight rates. Its operating loss reached 128 billion won (US$112 million) in the April-June period, the company said in a [...]
SEJONG, Aug. 11 (Korea Bizwire) — South Koreans’ direct purchases from foreign countries rose sharply in the first six months of the year on rising demand for cheaper price tags, customs data showed Friday. A total of US$974.1 million worth of foreign goods was directly bought by South Korean shoppers via international shopping malls in [...]
SEOUL, Aug. 10 (Korea Bizwire) – British American Tobacco (BAT) will begin sales of its new tobacco heating device in South Korea next week, its local unit said Thursday, joining the race to better grab the expanding market. The new gadget glo is shaped like any other battery-powered cigarette devices, except tobacco sticks called Neostiks, [...]
SEOUL, Aug. 9 (Korea Bizwire) – The government said Wednesday it has started to run a relief fund for victims of a toxic humidifier disinfectant, as part of its compensation measure after the scandal resulted in some 70 deaths amid intense public scrutiny. The Ministry of Environment said its committee handling the management of the [...]
SEOUL, Aug. 9 (Korea Bizwire) – The founder of South Korean retail giant Lotte lost his last remaining board member seat at the affiliate of the conglomerate, effectively leaving the management scene, the business group said Wednesday. The board of directors of Lotte Aluminum Co., a packaging material firm, decided not to extend the term [...]
SEOUL, Aug. 9 (Korea Bizwire) — Despite stiff competition and declining profits, more and more convenience stores in South Korea are opening, with the number of convenience stores per head surpassing that of Japan, a country thought to be the Asian capital of the industry. According to industry sources on Tuesday, there were an estimated 34,376 [...]
SEOUL, Aug. 9 (Korea Bizwire) — The number of complaints filed by South Korean consumers who made purchases via foreign online shopping malls increased 46.4 percent in the first half of this year, as more people bought goods directly from overseas sellers attracted by cheaper prices and diversity, data showed Wednesday. The number of complaints [...]
SEOUL, Aug. 8 (Korea Bizwire) — Sales of picnic products in South Korea have soared this summer amid a shift among consumers away from camping and towards something more casual, a retail giant has said. According to E-mart on Monday, sales of camping stables such as tents last month dropped 28 percent compared to the [...]
SEOUL, Aug. 7 (Korea Bizwire) — Just as video games have increased in popularity among adults, toys and collectible items like Bearbrick and Gundam are popping up on store shelves across the country, with their sometimes eye-watering prices a clear indication of the intended demographic – those above the legal drinking age. The typical consumers [...]