SEOUL, May 30 (Korea Bizwire) — South Korea’s economy showed renewed signs of weakness in April, with industrial production, consumption, and investment all posting declines — the first “triple minus” since January — as the impact of new U.S. auto tariffs begins to ripple through key sectors. According to data released Friday by Statistics Korea, [...]
MANILA, Philippines, May 27 (Korea Bizwire) — A combination of the Korean Wave and expanded local sales networks has driven sales growth at Hitejnro Philippines Inc. in recent years, the company said at a recent media event. Hitejinro Co., South Korea’s leading beverage company, established its Philippine subsidiary in July 2019 to strengthen its presence [...]
SEOUL, May 27 (Korea Bizwire) — Starbucks is breaking from its long-standing emphasis on face-to-face interaction by introducing self-ordering kiosks in South Korea and Japan — the first such move by the global coffee chain in either country. Starbucks Korea announced on Monday that it will begin rolling out kiosks this week at a limited number [...]
SEOUL, May 26 (Korea Bizwire) — For the first time since statistics began in 2018, South Korea’s once-booming coffee shop sector has shrunk, alongside a broader pullback across key self-employment industries. The decline underscores mounting pressure on small business owners from domestic economic stagnation, market saturation, and rising operating costs. According to data released Sunday by [...]
SEOUL, May 14 (Korea Bizwire) — French luxury brand Dior has come under scrutiny in South Korea for failing to report a recent data breach involving Korean customers to the Korea Internet & Security Agency (KISA), as required under domestic law, a lawmaker’s office said Wednesday. According to Rep. Choi Soo-jin of the ruling People Power [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s department store sector suffered a difficult first quarter as sluggish domestic consumption weighed heavily on sales and profits, with only Lotte Department Store managing to post a notable profit boost, thanks to strong performance in overseas operations and internal restructuring efforts. According to industry data released Tuesday, Lotte [...]
SEOUL, May 12 (Korea Bizwire) — Swedish furniture giant IKEA held a briefing session in Seoul on Monday to expand its network of eco-friendly and recycled product suppliers from South Korea, according to the country’s state-run trade promotion agency. IKEA’s Northeast Asia purchasing office hosted the 2025 IKEA Day event at the headquarters of the [...]
SEOUL, May 6 (Korea Bizwire) — Seven in 10 households made online purchases of processed foods in 2024, a survey showed Tuesday, marking a sharp increase from a year earlier and a significant change in where and how people shop. According to the survey conducted by the Korea Rural Economic Institute, 72.3 percent of households [...]
SEOUL, May 5 (Korea Bizwire) — South Korea’s leading hotels and department stores are turning to art-driven strategies to attract affluent, experience-seeking customers, elevating their venues from commercial spaces to immersive cultural destinations. With the rise of “art marketing,” retailers are integrating curated exhibitions, docent-led tours, and gallery partnerships into their business models. This trend is [...]
SEOUL, May 3 (Korea Bizwire) — Chanel has emerged as the most frequently counterfeited brand online in South Korea over the past five years, according to new government data that highlights the growing challenge of policing illicit e-commerce activity involving luxury goods. A report submitted by Rep. Oh Se-hee of the Democratic Party, a member of [...]