SEOUL, April 28 (Korea Bizwire) – Profits at top foreign luxury brands in South Korea stagnated last year, with some labels unable to come out of the red, industry data showed Friday. According to the data provided by the e-disclosure site of the regulator Financial Supervisory Service, last year’s operational profits at Ferragamo Korea shed [...]
SEOUL, April 27 (Korea Bizwire) – Sales of air conditioners and electric fans rose sharply this month from a year earlier, industry sources said Thursday, amid above-average temperatures that can be a sign of a hot summer to come. Lotte HiMart, a consumer electronics retailer, witnessed a whopping 180 percent increase in the sales of [...]
SEOUL, April 26 (Korea Bizwire) – CJ Logistics Corp., a unit of South Korean food and entertainment conglomerate CJ Group, said Wednesday it has acquired two logistics companies based in India and the United Arab Emirates (UAE) as part of efforts to tap deeper into overseas markets. The Korean company has signed a deal to [...]
SEOUL, Apr. 21 (Korea Bizwire) — Losses incurred by South Korean retail chain Lotte Mart from business suspensions in China are being compounded by salary payments to local employees, industry sources said Thursday. Lotte Mart, a highly successful affiliate of Lotte Group, had to temporarily close 74 of its 99 shops in China in February [...]
SEOUL, April 20 (Korea Bizwire) – Online shopping malls are partnering with premium children’s brands as sales in the segment are growing faster than for cheaper labels, industry watchers said Thursday. First-quarter sales of brand name children’s clothing and accessories increased 43 percent on-year at online mall 11st Street, compared with a 34.7 percent rise [...]
SEOUL, April 20 (Korea Bizwire) – Chinese online shoppers’ direct purchases from South Korea have not waned despite Beijing’s economic retaliations against Seoul, the latest statistics showed Thursday. According to the Beijing office of the Korea Trade-Investment Promotion Agency (KOTRA), South Korean products accounted for 13.6 percent of direct overseas purchases through China’s Tmall, the [...]
SEOUL, Apr. 20 (Korea Bizwire) — The item rental market in South Korea is expanding its range of lineups into various areas, ranging from fashion accessories and digital cameras to furniture, as a growing number of consumers are willing to use products at affordable prices and return them instead of owning them outright, industry observers [...]
SEOUL, April 17 (Korea Bizwire) – Korea’s e-book market has been growing while the wider book industry is shrinking, a recent report from a government agency showed Monday. The report by the Publication Industry Agency of Korea about the general condition of the country’s publishing industry showed the industry’s total sales amounted to 7.58 trillion [...]
SEOUL, April 11 (Korea Bizwire) – The Korean National Police Agency (KNPA) announced yesterday it has teamed up with CU, the largest convenience-store chain in South Korea, to install a touchscreen emergency system in every store by the end of the year as part of efforts to ramp up security and prevent crime. The latest collective [...]
SEOUL, April 10 (Korea Bizwire) – South Korea’s air purifier market has grown rapidly in recent years, industry data showed Monday, amid rising air pollution levels that have been fueled by smog and yellow dust coming from China. Westerly winds carry smog from China, as well as yellow dust from Mongolia, to the Korean Peninsula [...]