SEOUL, Jan.8 (Korea Bizwire) – While sales at department stores and large discount stores have stayed steady or even deceased over the past three years, convenience stores have seen annual growth rates between 10 and 20 percent. Private brands for items such as lunch boxes and snacks developed to meet the needs of single and [...]
SEOUL, Jan.7 (Korea Bizwire) – Chinese electronics, which have often been thought of as cheap in price, but also in quality, have moved into the spotlight. Sales of Chinese smartphones and small smart devices are on a rapid rise due to reasonable prices and decent performance. Two Chinese manufacturers, Xiaomi and Huawei, are leading the [...]
SEOUL, Jan.7 (Korea Bizwire) – A special sales event for a Xiaomi smartphone hosted by an online shopping site was canceled soon after its launch. Complaints from angry consumers quickly filled up internet message boards, which only proved that the cancelation of the event showed the growing influence of Chinese smartphones. With an unsatisfying explanation [...]
SEOUL, Jan.6 (Korea Bizwire) – Lotte Department store has started a service in which cosmetics products are delivered to a customer’s home on a regular basis. Store officials announced that Belief, a cosmetics brand from LG Household & Health Care, had started a subscription service. By subscribing to a cosmetics brand, customers can have cosmetics [...]
SEOUL, Jan. 6 (Korea Bizwire) – South Korea’s food imports have been rising sharply in recent years mainly due to increased consumer demand for more diverse products, data showed Wednesday. Asia’s fourth-largest economy posted 554,177 import reports of processed food and agrofisheries products in 2014, up 25.5 percent from 441,530 shipments tallied for the whole [...]
Competition in the ‘budget phone’ market has been fierce from the start of the year, with the affordable phones rapidly gaining popularity. By the end of last year, one out of ten people was using a budget phone. (Image : Yonhap) SEOUL, Jan.6 (Korea Bizwire) – Competition in the ‘budget phone’ market has been fierce [...]
SEOUL, Jan.4 (Korea Bizwire) – Smartphones from China’s Huawei, exclusively sold in Korea by LG U+, are creating a craze after the launch of the company’s affordable Y6 model, with 10,000 devices sold in only 15 days. LG U+ announced that approximately 700 units of the Y6 are being sold every day, creating an unprecedented [...]
SEOUL, Jan. 4 (Korea Bizwire) – The unusually warm weather has hurt retailers’ sales of everything from winter coats to snow boots, while boosting sales of outdoor sportswear and camping gear, industry officials said Monday. December was the warmest month on record in South Korea as an unusually strong El Nino effect has been heating [...]
SEOUL, Jan. 4 (Korea Bizwire) – Hyundai Motor Group’s chairman said Monday that its two carmakers aim to produce and sell 8.13 million cars this year, lowering its annual target from a year earlier due to tough market conditions at home and abroad. This is a downgrade from the previous year when the group, which [...]
SEOUL, Jan. 3 (Korea Bizwire) – South Korea’s top refiner SK Innovation Co. plans to speed up its overseas expansion this year as it seeks to develop new growth engines while also boosting its global presence, company officials said Sunday. The move apparently comes as more than half of the company’s overall sales already are [...]