SEOUL, March 31 (Korea Bizwire) – China-based tech manufacturer Xiaomi Inc. plans to sell more products through partnerships with local distributors in South Korea, but has yet to decide on whether to launch its own smartphone any time soon, company officials said Thursday. KomaTrade, a South Korean sales partner of Xiaomi, will start to sell [...]
SEJONG, March 31 (Korea Bizwire) - The South Korean government on Thursday decided to extend the operational licenses of local duty-free stores to 10 years from the current five and have them automatically renewed in a bid to help the retail industry do business in a stable and predictable environment. In a minister-level meeting in Seoul, the [...]
SEOUL, March 31 (Korea Bizwire) – The head of AmorePacific Co., South Korea’s top cosmetic company, has reaffirmed his commitment to the Chinese market, seeing further room for growth in the rising middle-class consumers there, the firm said Thursday. AmorePacific has shown stellar performance in China with a range of luxury and low-end brands, thanks [...]
SEOUL, March 31 (Korea Bizwire) – Increased consumer awareness about health is boosting the health functional food industry, and is now pushing the food industry to set its sights on probiotics. Probiotics are showing noticeable growth among health functional foods, and since the domestic market is still in its nascent stage, competition to take the [...]
SEOUL, March 30 (Korea Bizwire) – Although mobile shopping sites offer numerous benefits such as fast delivery or a convenient shopping experience, consumers still consider ‘cheap prices’ to be the most important quality when it comes to mobile shopping. The advertising platform DMC Media conducted a survey on 800 adults between the ages of 19 [...]
SEOUL, March 30 (Korea Bizwire) – South Korea imported a record amount of beer last year as more consumers preferred various flavors beyond the lager-dominated domestic brands and discount stores offer aggressive price promotions, data showed Wednesday. Inbound shipments of beer reached 170,919 tons worth US$142 million in 2015, up 27 percent from a year [...]
SEOUL, March 30 (Korea Bizwire) – LG Electronics Inc. said Wednesday it will start to sell its latest flagship smartphone, the G5, around the globe later this week, three weeks after the debut of the Galaxy S7 series by its archrival Samsung Electronics Co. The South Korean tech giant said the G5 will come with a price tag [...]
SEOUL, March 30 (Korea Bizwire) – South Korea is badly in need of exporting more consumer goods to China to help improve a longstanding imbalance between export items and gain a share in the rapidly-growing consumer goods market there, a bank report said Wednesday. In 2014, Korea topped other countries by posting US$190 billion in [...]
SEOUL, March 29 (Korea Bizwire) – As the demand for fresh, healthy juice products is rising, new products are flooding into the market. According to the market research company LinkAztec, the Korean ‘squeezed juice’ market grew 30 percent from 21 billion won in 2013 to 27.5 billion won last year. To meet consumer demand for [...]
SEOUL, March 29 (Korea Bizwire) – A group of 76 small and medium-sized bookstores are ready to open a portal online service to provide various information on books and bookstores as they are struggling to find a way out from financial difficulties, according to publishing industry sources on Tuesday. The Korea Federation of Bookstore Association [...]