SEOUL, Feb. 3 (Korea Bizwire) — South Korea’s outbound shipments of pet food products soared 83.5 percent in 2020 from a year earlier on strong demand from the Asia region, data showed Wednesday. Exports of pet food products reached US$67.4 million last year, jumping from $36.7 million in 2019, according to data by the Ministry [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korea’s imports of whisky plunged to a 21-year low in 2020 due to the coronavirus pandemic and a change in alcohol consumption here, government data showed Tuesday. The value of whisky imports amounted to US$132.5 million last year, down 13.9 percent from the previous year, according to the [...]
SEOUL, Feb. 1 (Korea Bizwire) — Sales at South Korean duty-free stores plunged nearly 38 percent on-year in 2020 due to the spread of the new coronavirus, industry data showed Monday. Combined sales of local duty-free shops totaled 15.5 trillion won (US$13.9 billion) last year, down 37.7 percent from a year earlier, according to the [...]
SEOUL, Jan. 29 (Korea Bizwire) — Skin snacks such as pig skin are gaining popularity as a growing number of Koreans are staying indoors to avoid the coronavirus. Gmarket, an online shopping mall, reported that snacks made with pollack skin were 21 times higher from January 1 to 25 compared to the same period last [...]
SEOUL, Jan. 28 (Korea Bizwire) — Retail sales in South Korea rose 5.5 percent on-year in 2020 due to strong gains from the online segment in sync with the social distancing policy amid the unprecedented virus pandemic. The combined sales of local online shops shot up 18.4 percent in 2020 from the previous year, while [...]
SEOUL, Jan. 28 (Korea Bizwire) – South Korea’s imports of Japanese beer plunged nearly 86 percent in 2020 due to a local boycott of goods from the neighboring country, data showed Thursday. Seoul brought in US$5.67 million worth of Japanese beer last year, down 85.7 percent from a year earlier, according to the data from [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korean retailers are introducing a string of eco-friendly products, including bottled water with no labels, and plastic cup coffee without a straw. On Tuesday discount store chain Lotte Mart released two types of its own private-label brand (PB) bottled water that have no label on the bottle – [...]
SEOUL, Jan. 26 (Korea Bizwire) – South Korean retail giant Shinsegae Group said Tuesday it will acquire a professional baseball club owned by SK Group as it seeks to boost marketing with the sports team. E-Mart Inc., the country’s biggest discount store chain run by Shinsegae, has agreed to buy the SK Wyverns of the [...]
SEOUL, Jan. 25 (Korea Bizwire) — South Korean exports of red pepper paste jumped more than 35 percent in 2020 from a year earlier thanks to the global popularity of Korean pop culture, known as the Korean Wave, data showed Monday. Overseas shipments of red pepper paste, called “gochujang” in Korean, came to US$50.93 million [...]
SEOUL, Jan. 22 (Korea Bizwire) — Brick-and-mortar malls are introducing various new services including electric vehicle (EV) charging stations, currency exchange, and even used phone purchases to survive the fierce competition they are engaged in with online shopping portals. Major discount store chain operators including Lotte Mart, E-Mart, and Homeplus all currently operate EV charging [...]