SEOUL, Oct. 4 (Korea Bizwire) — Some have pointed out that liquid-type e-cigarettes, which are classified as chemicals, are being distributed to the public due to lack of related laws, threatening national health. According to data received by Rep. Ki Dong-min from several government ministries, under the current law, the Ministry of Economy and Finance [...]
SEOUL, Oct. 2 (Korea Bizwire) — The sleep industry is on the rise, which has even led to a new word, “sleeponomics,” a portmanteau of sleep and economics. A market that was worth 500 billion won (US$414 million) in 2012 recently surpassed the 2 trillion won milestone. The sleep market is expected to surpass 3 [...]
SEOUL, Oct. 1 (Korea Bizwire) — In addition to functional and safe ingredients, new trends are emerging in the cosmetics market, which was dominated by a focus on high-end image and price competitiveness. According to the cosmetics industry, “period beauty” products, which take into account women’s menstrual cycles, have recently been released in succession, with [...]
SEOUL, Oct. 1 (Korea Bizwire) — South Korea’s trade surplus in beauty products hit an all-time high last year on the back of strong demand from China and other Asian countries, government data showed Tuesday. Outbound shipments of cosmetics stood at 6.89 trillion won last year, up 23.3 percent on-year, while imports grew 6.8 percent [...]
SEOUL, Sept. 27 (Korea Bizwire) – Foreign corporations that set up South Korean offices to feign as a local brand and bandwagon on the Korean Wave have been ordered by the court to be disbanded. The Korean Intellectual Property Office (KIPO) and the Daejeon District Prosecutors’ Office announced on Thursday that they had ordered two [...]
SEOUL, Sept. 27 (Korea Bizwire) – Long padded jackets that come down to the calves, also known as bench jackets, have been among the most popular winter garments over the past few years. However, instead of long padded jackets, shorter padded jackets are poised to dominate the fashion industry this winter. Auction, an online shopping [...]
SEOUL, Sept. 26 (Korea Bizwire) — Convenience stores are not just bringing in foreign products, but they are also exporting offerings from their own brands. GS Retail Co., a major South Korean retailer, has joined hands with Taiwanese trading firm Tait Marketing & Distribution Co. to actively export items from the private-label brand (PB) brand [...]
SEOUL, Sept. 25 (Korea Bizwire) — Sales at South Korean duty-free stores hit a new monthly high in August, industry data showed Wednesday, on the back of Chinese vendors who buy products in large quantities and resell them back home. The combined sales of local duty-free shops reached 2.18 trillion won (US$1.82 billion) last month, [...]
SEOUL, Sept. 24 (Korea Bizwire) — The government plans to readjust a variety of taxes attached to electronic cigarettes, such as the cigarette consumption tax and special consumption tax, to even out the balance between taxes imposed on e-cigarettes and non-electronic cigarettes. The Ministry of Economy and Finance announced the plans on Monday, following complaints [...]
INCHEON, Sept. 23 (Korea Bizwire) — Nearly 90 percent of the counterfeit goods that were caught by customs authorities in the last five years were from China, with Louis Vuitton found to be the biggest victim among reputable brands, data showed Monday. The value of imported fake goods that were uncovered between 2015 and August [...]