SEOUL, May 6 (Korea Bizwire) —On the eve of Children’s Day, the Yongsan Children’s Garden, built on the site of the former Yongsan U.S. military base, opened its gates to the public for the first time in over 120 years. However, despite the excitement surrounding the opening, opposition parties and environmental groups have raised serious [...]
SEOUL, May 5 (Korea Bizwire) — South Korean cosmetics manufacturers are bolstering their offensive in the North American market as sales in China and Japan have fallen sharply. LG Household & Health Care Ltd.’s North American sales for the first quarter of this year amounted to 136.1 billion won (US$102 million), an increase of 21.1 [...]
SEOUL, May 4 (Korea Bizwire) — South Korea’s home shopping industry is turning to digital technology to win back “Generation MZ” consumers, which includes both millennials and Generation Z. Lotte Homeshopping created a virtual model named Lucy, who achieved a 100 percent sales record as a show host since her debut. In a demonstration show [...]
SEOUL, May 2 (Korea Bizwire) — Instead of sluggish demand for products like TVs and semiconductors, South Korea’s major tech companies are finding a new cash cow in the automotive business. Harman International, an automotive electronics subsidiary of Samsung Electronics Co., recorded sales of 3.17 trillion won ($2.36 billion) and an operating profit of 130 [...]
SEOUL, May 1 (Korea Bizwire) — As software-driven vehicles (SDVs) begin to shape the mainstream automobile landscape, more and more vehicles will be personalized to buyers’ preferences without the hassle of visiting an auto repair shop. Take the EV9, for example. Kia Corp. is set to launch its second dedicated electric vehicle, the EV9, in [...]
SEOUL, April 30 (Korea Bizwire) — South Korea recorded the biggest fall in exports to China among major exporters to the country in the first quarter, China’s trade data showed Sunday. Exports to China plunged 28 percent in the first quarter from a year earlier due mainly to a sharp decline in semiconductor shipments, the [...]
SEOUL, April 30 (Korea Bizwire) — Debt among those in their 20s and 30s jumped more than 27 percent over the past three years since the COVID-19 pandemic hit, indicating they suffered financial difficulties due to rising home prices and an economic slowdown, central bank data showed Sunday. In the fourth quarter of 2022, overall [...]
SEOUL, April 29 (Korea Bizwire) —Major tourist attractions in South Korea are increasingly becoming a battleground for global luxury brands, with Moët Hennessy-Louis Vuitton (LVMH) and Kering Group, the world’s leading luxury goods companies, staging a battle of pride with their flagship brands Louis Vuitton and Gucci. The competition is fierce, as Louis Vuitton rented [...]
SEOUL, April 29 (Korea Bizwire) — Semyung University, nestled in the heart of the city of Jecheon in North Chungcheong Province, is making waves as it becomes the first Korean institution to pioneer a tuition responsibility refund system. This experimental approach, aimed at providing experience-oriented differentiated educational content, comes at a time when local universities [...]
SEOUL, April 28 (Korea Bizwire) — South Korea has called on the United States to make joint efforts to resolve a legal dispute between their companies over Seoul’s potential nuclear reactor exports to the Czech Republic and other nations, the industry ministry said Friday. Industry Ministry Lee Chang-yang made the request during a meeting with [...]