SEOUL, Dec. 18 (Korea Bizwire) – Famous Korean snacks have captivated the taste buds of Asian consumers, making overseas sales more important for local confectionery companies grappling with slower growth on home turf, data showed Friday. Major Korean confectionery companies are increasingly setting their sights on a wider market after seeing robust growth in China [...]
SEOUL, Dec. 18 (Korea Bizwire) - Samsung Electronics Co.’s new flagship smartphone, presumably the Galaxy S7, is set to be showcased at a tech exhibition slated for February, an industry source said Friday, with the device expected to put more emphasis on performance over design. The South Korean tech giant will reveal the new Galaxy at [...]
SEOUL, Dec.17 (Korea Bizwire) – Korean cosmetics brand Tonymoly announced that it has recently opened a flagship store in Macau. The first Tonymoly store in Macau opened on December 7 at Senado Square. A large screen was set up outside the store to draw the attention of customers. ‘FUN’ line products, which have unique containers, [...]
Although the social commerce industry in Korea is showing rapid growth, massive losses remain widespread, a reminder to keep optimism in check. (Image : Yonhap) SEJONG, Dec.17 (Korea Bizwire) – Although the social commerce industry in Korea is showing rapid growth, massive losses remain widespread, a reminder to keep optimism in check. Social commerce refers [...]
SEOUL, Dec.16 (Korea Bizwire) – First year sales of global furniture giant IKEA in Korea have reached 210 billion won (including sales from December 2014), according to a recent report. This tops the average sales of all 345 IKEA stores around the world. There has been some criticism that the Korean store’s pricing is higher [...]
SEOUL, Dec.15 (Korea Bizwire) – Management from Hyundai Motor held a special event in which they met their anti-fans to discuss the misunderstandings they have about Hyundai vehicles. Kwak Jin, Vice President of Hyundai Motor participated in the third ‘Maum Dream’ event, and communicated with the members of an internet anti café called ‘Bobe Durim’. [...]
SEJONG, Dec. 15 (Korea Bizwire) - The K-Sale Day discount event that kicked off last month contributed to the revival of consumer demand critical for economic growth, the government said Tuesday. According to the Ministry of Trade, Industry and Energy, sales by the country’s 25 major retailers rose 531.3 billion won or 8.4 percent on-year from [...]
SEOUL, Dec. 15 (Korea Bizwire) - South Korea’s No. 3 mobile carrier LG Uplus Corp. said Tuesday that it will exclusively distribute a budget smartphone released by China-based Huawei, a move that may signal a further setback for local manufacturers already facing challenges from Chinese brands. The Y6 smartphone, which comes with a price tag [...]
SEOUL, Dec.14 (Korea Bizwire) – The majority of those who were promoted from rank and file workers to executive positions at the Samsung Group selected the new K7 from Kia Motors as their first company car. According to Samsung Group, 197 employees were promoted to executive positions on December 4. Company cars are provided to [...]
SEOUL, Dec.14 (Korea Bizwire) – Samyang Foods has announced that its exports of instant ramen noodles reached 27 billion won from January to November this year, which was a 35 percent increase compared to the same period last year. Of note, the growth of exports to countries where stir-fried noodles are popular such as Singapore, [...]