SEOUL, June 23 (Korea Bizwire) – A prolonged economic slump and changes in drinking culture have cornered the whiskey market to the point where the industry has fallen into cutthroat competition, with companies breaking a voluntary agreement signed under the direction of a supervisory agency, the National Tax Service. Diageo Korea and Pernod Ricard Korea, the [...]
SEOUL, June 23 (Korea Bizwire) – “Life in the 21st century is becoming more and more enervating, especially with endless competition and pressure,” said Moon Ji-wook, president of Pantech, during a very modest press conference for its latest smartphone, the IM-100. Pantech may be an unfamiliar smartphone brand to overseas consumers, especially compared to Korea’s [...]
SEOUL, June 22 (Korea Bizwire) – Pantech is back, stepping into the smartphone war after almost two years of silence. The company unveiled a new smartphone Wednesday, the IM-100 (pronounced “I’m Back” – 100 is read ‘baek’ in Korean), with an ambitious goal to reclaim its rank as Korea’s No. 3 mobile phone maker. The new [...]
SEOUL, June 22 (Korea Bizwire) – For the past ten years, westernized dietary patterns of Koreans have led to increased consumption of meat, while consumption of grain has decreased. The average Korean consumes more meat than individuals in neighboring countries including China and Japan, according to the Korea Times. Based on the ‘Report on a Change [...]
SEOUL, June 22 (Korea Bizwire) – North Korea has been unable to import luxury watches from Switzerland as the European country enforced tough sanctions on the reclusive country for its nuclear and long-range missile program, a U.S.-based media report said Wednesday. According to Radio Free Asia (RFA), North Korea’s Swiss watch imports fell to zero [...]
SEOUL, June 21 (Korea Bizwire) – Seasonal sales and promotional events at retail stores are becoming too mundane, so companies are shifting their focus to try to connect with consumers and provide an engaging shopping experience. Unique and unconventional marketing methods that encourage consumer participation and trigger emotions are becoming popular in Korea. Fila Originale, [...]
SEOUL, June 21 (Korea Bizwire) – South Korea will hold a nationwide shopping festival involving major retailers, manufacturers and traditional markets in the fall to draw foreign travelers and jack up lackluster domestic consumption, the government said Tuesday. The Ministry of Trade, Industry and Energy and the Ministry of Culture, Sports and Tourism jointly formed [...]
SEOUL, June 21 (Korea Bizwire) – South Korean home appliance maker LG Electronics Co. introduced a set of brand new devices Monday that are able to transform conventional household appliances into smart and connected devices which can interact with the latest mobile communication devices. They are SmartThinQ sensors and SmartThinQ Hub. The smart sensor is [...]
SEOUL, June 20 (Korea Bizwire) – The Korean Fair Trade Commission (FTC) has launched an investigation into Apple’s marketing operations in Korea, with the company suspected of imposing some of its advertising costs on local telecom companies. According to an industry expert, Apple has been accused of forcing local carriers to cover part of the advertising [...]
SEOUL, June 20 (Korea Bizwire) – June 19 marks the 100th day since DJI, the world’s biggest manufacturer of consumer drones, launched its flagship store in the Hongdae area of Seoul, in its first push into the Korean market. Hongdae is DJI’s first store outside of China, and drone fans waited in tents the night before opening [...]