SEOUL, May 25 (Korea Bizwire) – South Korea’s credit card spending on furniture rose sharply in the first two months of this year on the back of a rise in home transactions as the local property market has been on a clear recovery track, data showed Monday. According to the data compiled by the Bank [...]
SEOUL, May 24 (Korea Bizwire) – Despite the overall slump in private consumption, South Korea’s golfware market is expected to post solid growth this year as more younger people enjoy the sport, industry sources predicted Sunday. According to the Korea Leisure Industry Institute and golf-related clothing makers, the country’s golfware market will likely grow 7.14 [...]
SEOUL, May 19 (Korea Bizwire) — It is no news that Koreans love coffee, and they have currently found a new love for more diversified, exotic coffees, like Viennese coffee. According to industry representatives on May 17, more and more major coffee chains in Korea are newly offering Viennese coffee at their shops. Julius Meinl, [...]
SEOUL, May 18 (Korea Bizwire) — South Korean cosmetic products are expanding their presence in China on the back of the Korean Wave and competitive beauty products, becoming the second most sold in Asia’s second-ranked but fast-growing beauty market, data showed Monday. Out of $686.2 million worth of cosmetics China imported in the January-March period, [...]
SEOUL, May 14 (Korea Bizwire) — As large retailers are suffering from negative growth, private brands (PB), or private labels (PL) are offering a ray of sunshine to retailers, as sales of PB goods have increased 20 to 30 percent in the first quarter compared to the same period last year. PB goods are usually 20 [...]
SEOUL, May 8 (Korea Bizwire) — South Korean retail giant Lotte Group said Friday it plans to reopen its namesake skyscraper next week, about five months after the Seoul city government ordered its shutdown when a string of accidents stoked safety fears. The plan comes on the heels of an announcement by the city government [...]
SEOUL, May 3 (Korea Bizwire) — The popularity of Korean pop culture abroad helped increase production of the country’s cosmetics, gaming, tourism and beverages industries by billions of won in 2014, data showed Sunday. The growing popularity of hallyu, or the Korean wave, the name for Asianwide popularity of Korean pop culture, has been making inroads [...]
SEOUL, May 1 (Korea Bizwire) — As seniors parenting their grandchildren are growing in number, they have become a power customer group in the Korean toy market. Leading up to Children’s Day on May 5, the Auction online shopping site said that toy sales between April 14 and 27 from customers over fifty increased 70 [...]
SEOUL, May 1 (Korea Bizwire) — As grocery shopping through major retailers’ mobile shopping platforms is becoming a normal practice among Koreans, women in their forties are increasingly using mobile devices to buy their groceries. According to the Ticket Monster social commerce site, 73 percent of the company’s female customers made purchases through the company’s [...]
SEOUL, Apr. 28 (Korea Bizwire) — Lotte Super will introduce Korea’s first drive-through grocery pickup service at its Garak branch, according to a company statement on April 27. Drive-throughs have only been operated at fast food restaurants and coffee shops in Korea, and are popular with busy office workers. Lotte Super’s drive-through service is linked [...]