SEOUL, Nov. 2 (Korea Bizwire) – Korea’s parcel delivery industry is in the early stages of a ‘delivery war’ between well established logistics companies and social commerce businesses. CJ Korea Express announced a new delivery option called ’CJ The Fast Delivery’ service, which offers same-day parcel delivery for orders that are placed before 11 a.m. [...]
SEJONG, Nov. 2 (Korea Bizwire) – South Korea’s retail sales rose to a 4-month high in September as tax cuts and the Chuseok holiday propped up consumer spending, a government report showed Monday. Retail sales topped 31.13 trillion won (US$27.28 billion) in September, up 4.1 percent from 29.9 trillion won a year earlier and the [...]
SEOUL, Oct. 30 (Korea Bizwire) – After the performance of LG Electronics during the second quarter was announced (200 million won in business profits), company officials anticipated that profitability would improve as the new G4 smartphone launched worldwide. However, their dreams were shattered as concerns expressed by analysts became reality. The performance of LG Electronics [...]
SEOUL, Oct. 30 (Korea Bizwire) – After lowering the prices of certain products earlier this year, Chanel announced that it will be increasing prices next month. According to industry watchers, Chanel will raise the price of its ’2.55 Vintage’ from 6 million won to 6,390,000 won, and ‘Timeless CC’ from 3,410,000 won to 3,630,000 won, [...]
SEOUL, Oct. 29 (Korea Bizwire) – After the World Health Organization (WHO) designated processed meats as a carcinogen, meat lovers worldwide are up in arms, and meat producers are suffering from the huge blow. Domestic sales of processed meat such as ham and sausages dropped 20 percent in one day due to consumer apprehension. The [...]
SEOUL, Oct. 28 (Korea Bizwire)–The stock prices of companies in the domestic baby-product industry showed strength right before the fifth plenary session of the Central Committee of the Communist Party of China. China is expected to amend its strict child birth policies to allow parents to have more than one child. Shares of Zero to [...]
SEOUL, Oct. 27 (Yonhap) – South Korea’s No. 2 carmaker Kia Motors Corp. said Tuesday it will run an ad during next year’s Super Bowl to promote its vehicles in the world’s No. 2 car market. Kia Motors said it will run the commercial during the Super Bowl on Feb. 7, 2016, marking the seventh [...]
SEOUL, Oct. 27 (Korea Bizwire) – Kmall24, an online store managed by the Korean International Trade Association (KITA) that supports direct overseas purchases online, has started aggressively targeting consumers abroad through Amazon Japan and eBay. According to the KITA, Kmall24 is the first organization that supports exports on Amazon Japan. The company registered 201 items [...]
SEOUL, Oct. 23 (Korea Bizwire) – Apple Inc.’s two latest smartphones went on sale in South Korea on Friday, with the industry poised to keep close tabs on the market for possible overheating on the retail front. The country’s three major mobile carriers — SK Telecom Co., KT Corp. and LG Uplus Inc. — released [...]
SEOUL, Oct. 21 (Korea Bizwire) – South Korean tech giant Samsung Electronics Co. trumped rivals in the global smartphone market in the third quarter, while its annual sales are likely to drop on-year largely due to stiffer competition from Chinese makers, a report said Wednesday. Samsung, the world’s top smartphone maker, retained its top spot [...]