Seoul, July 21 (Korea Bizwire) – The Korea Customs Service announced that they have reorganized their systems so that Unique Entry Codes needed for import declarations can be issued through mobile phones with user authentication via text. Unique Entry Codes are identifying codes issued by the customs office that an individual can use instead of their [...]
SEOUL, July 20 (Korea Bizwire) – Thanks to their much-touted health benefits, demand for imported “super grains” is increasing, while Korean crops such as beans are becoming unpopular among Koreans. According to E-mart on July 19, sales of the imported super grains such as quinoa, lentils and chickpeas increased by up to 5 times last year, and they [...]
SEOUL, July 20 (Korea Bizwire) – With the increase of so-called “home alone” people or single-person households, a wave of change is coming to Koreans’ consumption patterns, and it is affecting the stock prices of related industries. Restaurants or karaoke rooms for one visitor are already thriving in Korea, and various ‘home alone’ products such [...]
Seoul, July 20 (Korea Bizwire) – The polarization of consumption is intensifying in the deflated economy as the number of ‘For Me’ spenders – those who spend money generously on what they want and what makes them happy – are increasing. NH Investment & Securities observed that “‘For Me’ spenders are showing a tendency of [...]
Seoul, July 20 (Korea Bizwire) – Consumer “A” bought a pair of shoes for 249,000won last month. When “A” received the shoes, “A” didn’t like the design and requested a refund. However, the seller rejected the request, saying the shoes were not refundable because they were tailor made. As the number of people purchasing shoes [...]
Seoul, July 20 (Korea Bizwire) – CJ Korea Express has started commercial operations by way of a polar route. CJ Korea Express announced that their ship, the KOREX SPB No.2, departed the port of Musyapa, United Arab Emirates (UAE), and is on its way to the Yamal peninsula in Russia. The ship has a 4,000ton offshore terminal [...]
Seoul, July 17 (Korea Bizwire) – At a time when one in ten people are literally living ‘home alone’, products for single households are selling like ice cold water on a hot day. According to 11st Street, an online shopping mall, the items that showed the fastest growth in sales were electronics for single households. [...]
SEOUL, July 17 (Korea Bizwire) – American health experts argue that the prices of tobacco in Korea are still cheap compared to Koreans’ income levels. Jonathan Samet, director of the Global Health Research Institute at the University of Southern California, said, “I know that the Korean government raised tobacco prices by 2,000 won this year. [...]
SEOUL, July 15 (Korea Bizwire) – To attract young customers in their 20s and 30s, Korean department stores are holding various promotional events, such as a mega concert with K-pop stars and mobile coupons for VIPs visiting the stores. The department stores are feeling a sense of crisis that if they neglect buyers under 40, [...]
SEOUL, July 3 (Korea Bizwire) – Samsung Group is planning to provide various measures to help overcome the economic recession caused by the outbreak of the Middle East Respiratory Syndrome (MERS). On July 2, the largest business group in Korea announced that it had come up with various plans to boost domestic demand that has been [...]