SEOUL, Dec.7 (Korea Bizwire) – Even through this period of slow economic growth, sales of high-end watches continue to be strong. According to Shinsegae Department Store, sales of luxury watches worth millions have increased over the past two years. In the 23-month period from January 2014 to November 2015, sales of high-end watches increased by [...]
SEJONG, Dec. 7 (Korea Bizwire) - Mercedes-Benz and Maserati will recall 724 cars sold in South Korea for safety-related mechanical defects, the Ministry of Land, Infrastructure and Transport said Monday. German luxury carmaker Mercedes-Benz will make repairs on 721 S63 AMG 4Matic sedans for ignition problems. The defect has been determined to be caused by a [...]
SEOUL, Dec. 7 (Korea Bizwire) – South Korean tech giant Samsung Electronics’ Galaxy smartphone was selected as the most valuable brand in South Korea for the fifth consecutive year, a survey showed Sunday. The Samsung Galaxy phone ranked first in the brand survey by Seoul-based market researcher Brandstock, followed by E-Mart, a discount store chain [...]
SEOUL, Dec. 7 (Korea Bizwire) – South Korea’s milk industry has been mired in a quandary over increasing milk inventories over the past years due to an oversupply and sluggish consumption amid falling birthrates and a prolonged economic slump. In a desperate bid to tide over the difficulty, the industry has been trying to cut [...]
SEOUL, Dec.4 (Korea Bizwire) – For the first time, Hyundai Motor management will meet their anti-fans and talk. According to industry watchers, Hyundai Motor’s Vice President Kwak Jin will invite members of their biggest ‘anti’ café, Bobe Dream, and host a debate related to the misunderstandings they have about Hyundai. Previously, president Kim Chung-ho and [...]
SEOUL, Dec.4 (Korea Bizwire) – Embattled German automaker Volkswagen’s sales in South Korea more than quadrupled in November on the back of large-scale incentives and promotions, helping it overcome the aftermath of a worldwide emissions scandal that made the news in October. Volkswagen eased Korean consumers’ concerns with an exceptional interest-free installment deal, attracting clients [...]
SEOUL, Dec.4 (Korea Bizwire) – Despite the prolonged stagnation of consumption in Korea, the convenience food market continues to grow. According to Nielsen Korea, the global information analysis company, sales of instant products (convenience foods edible after heating) were 1.4 trillion won from September 2014 to August 2015, which was a 9.8 percent increase compared [...]
SEOUL, Dec. 3 (Korea Bizwire) – Sales of Kia Motors Corp.’s new K5 midsize sedan are rising again after a brief slump, thanks to steady demand from young drivers, industry data showed Thursday. According to the data, Kia Motors, the second-largest car maker in the country, sold 6,929 units of the all-new K5 last month, the largest since its [...]
SEOUL, Dec.3 (Korea Bizwire) – While sales of domestic beer are declining at large supermarkets, foreign beer sales are rising rapidly. According to Emart, a large retailer, sales of domestic canned beer and PET bottled beer from January to November fell 2.2 percent and 6.4 percent respectively compared to the same period last year, but [...]
SEOUL, Dec. 3 (Korea Bizwire) - Top tech firm Samsung Electronics Co. will release new editions of the Galaxy A smartphone series later this month, with updated features including Samsung Pay, the company’s mobile payment tool that previously only came with high-end models, the company said Thursday. The new Galaxy A (2016) series will come in three versions, namely the Galaxy A7, [...]