SEOUL, Nov. 25 (Korea Bizwire) – As in America, Black Friday hype is also sweeping the Korean peninsula with local consumers looking for the best deals and discounts. But at the same time, the hype has bred victims of fraudulent activity, sounding a note of caution reminding consumers to be cautious with their purchase decisions. [...]
SEOUL, Nov. 25 (Korea Bizwire) – The total number of department stores operating across the country came to 100 last year, industry watchers said Friday, as more leading players are aggressively expanding and diversifying their outlets. A total of 100 department stores were operating as of the end of 2015, with the number to increase [...]
SEOUL, Nov. 23 (Korea Bizwire) – Small-size home appliances are growing in popularity in South Korea amid the increasing number of single-member households, a local manufacturer said Wednesday. Dongbu Daewoo Electronics Co. said it has so far sold more than 2 million refrigerators, washers and other products targeting consumers living alone. The number of single-person [...]
SEOUL, Nov. 22 (Korea Bizwire) – Sales of premium electronic products and foreign luxury brands outperformed the overall consumption trend in South Korea as more affluent consumers preferred differentiated products, industry officials said Tuesday. Household spending was sluggish in Asia’s fourth-largest economy, but demand for premium products and luxury goods remained strong this year. To [...]
SEOUL, Nov. 17 (Korea Bizwire) – It has been over a month since exchange and refund programs for the Galaxy Note 7 began, but recent data reveals that thousands are still holding on to their phablets with telecommunications companies showing an average recovery rate of roughly 40 percent. According to data compiled by the Ministry [...]
SEOUL, Nov. 16 (Korea Bizwire) – The duty-free stores that have newly opened in Seoul have seen operating losses this year as heavy marketing costs in the highly competitive market eroded their profitability, their financial documents showed Wednesday. Five duty-frees stores opened new shops in the capital city after winning licenses in two bids — [...]
SEOUL, Nov. 16 (Korea Bizwire) – The number of convenience stores in South Korea has surpassed 33,000 as of the end of October this year, marking a rapid growth since the opening of the first store 27 years ago, industry statistics showed Wednesday. The number indicates a significant increase from 28,994 counted at the end [...]
SEOUL, Nov. 14 (Korea Bizwire) – A recent study by the Korea Consumer Agency revealed the pros and cons of Korea’s five most popular robot vacuums: the NR15 (Narin R&D), VR20J9010UR (Samsung Electronics), YCR-M07-10 (Yujin Robot), FC8710 (Philips Korea), and R75BIM (LG Electronics). The evaluation categories included cleaning performance, autonomous mobility, noise, safety, and other [...]
SEOUL, Nov. 11 (Korea Bizwire) – Leading South Korean electronics makers received several awards for their innovative products across a wide variety of categories from the host of the International Consumer Electronics Show (CES), the companies said Friday. Samsung Electronics Co., South Korea’s top tech company, said it received 35 CES 2017 Innovation Awards from [...]
SEOUL, Nov. 10 (Korea Bizwire) – Samsung Electronics Co. has maintained its No. 1 spot in the U.S. market for home appliances for the second consecutive quarter in the third quarter of this year, the company said Thursday, citing a survey of a market researcher. Samsung accounted for 18.8 percent of the U.S. market for [...]