SEOUL, Korea, Mar 29, 2014 (Korea Bizwire) — The new trend of “direct purchase” (of foreign goods) online — through which the local consumers can afford to buy cheaper ones from overseas as opposed to the usual buying pattern of importation goods — has evolved into the form of offline “direct purchase store.” At direct [...]
SEOUL, Korea, Mar 28 (Korea Bizwire) – The Ministry of Agriculture, Food, and Rural Affairs and the Korea Food and Drug Administration proudly announced that, as of March 26 (local time), the United States Department of Agriculture (USDA) has officially approved Korea as an exporter of processed poultries which has opened up the gates for [...]
SEOUL, Korea, Mar 22, 2014 (Korea Bizwire) – Hyundai Home Shopping has recently scored two smash hits with the sales of dog foods for which the online shopping operator earned more than 600 million won from the two items alone. It was the first time ever in the history of the Korean TV home shopping industry [...]
SEOUL, Korea, Mar 22, 2014 (Korea Bizwire) –The famous Korean ramen industry has fallen into distress. After the overall revenue of ramen reached 2 trillion won, the sales curve just doesn’t seem to go up any higher. While the formidable Nongshim brand accounts for 65 percent of the market share, the number two and three [...]
SEOUL, Korea, Mar 21 (Korea Bizwire) — Domestic prices of imported toys for toddlers and children are much higher than those charged outside Korea, nearly by twice in some cases. Such price differential is way too extreme even when all the tariff duties on imported toys (0-8%), value-added taxes (10%) and distributors’ margins, which usually [...]
SEOUL, Korea, Mar 20 (Korea Bizwire) – Ahead of the opening of the first IKEA store in Korea at the end of this year, domestic furniture companies are busy devising ways to face the threat the Swedish behemoth poses. Some in the industry are optimistic that IKEA’s do-it-yourself, no-delivery business model would not be received [...]
SEOUL, Korea, Mar 19 (Korea Bizwire) – A recent study revealed that Thursday is the busiest day of the week for the food and daily necessities department of online stores, whereas Saturday happens to be their slowest day. According to Auction, who analyzed the sales data from January 1 to March 13 to celebrate the [...]
SEOUL, Korea, Mar 19 (Korea Bizwire) – The sales of sunglasses have soared unseasonably “thanks to” the fine dust originating from China. According to Shinsegae Department Store, the sales of sunglasses in January and February this year have increased 29.1 percent over the same period in the previous year, which is a record high. When [...]
SEOUL, Korea, Mar 13, 2014 (Korea Bizwire) – At the 2014 Natural Products Expo West held in the Anaheim Convention Center in southern California for four days between March 6 and 9, so many exhibitors showed of new food items featuring quinoa, the grain with South American origins. Quinoa, together with chia seeds, is one [...]
SEOUL, Korea, Mar 13 (Korea Bizwire) – Kim Sun-Kwon, CEO of Caffé Bene, Korea’s largest espresso-based coffee house chain, used to say his company would focus exclusively on the coffee business to make it as big as Starbucks. But his focus now is more diversified, dabbling in the steak restaurant and bakery businesses too. Why [...]