SEOUL, Jan. 13 (Korea Bizwire) — With inflation picking up, the popularity of private-brand (PB) products developed in-house by large discount stores, convenience store chains and online malls is rising at a rapid pace. PB products, in general, minimize logistics and advertising costs, and are thereby usually cheaper than other products made by big-name companies. [...]
SEOUL, Jan. 12 (Korea Bizwire) — An increasing number of South Koreans are suffering from the “corona blues,” which refers to depression caused by the coronavirus outbreak that began in the country in January 2020. The Ministry of Health and Welfare conducted a nationwide survey of 2,063 adults between the ages of 19 and 71, [...]
SEOUL, Jan. 12 (Korea Bizwire) — With Starbucks preparing to raise drink prices, consumers are scrambling to ‘hoard’ Starbucks drink coupons. As of Tuesday, KakaoTalk mobile messenger gift shop’s bestseller list in the ‘coupons’ section showed that the top 15 items, except for third and 15th place, were Starbucks coupons. Since Starbucks coupons are valid [...]
SEOUL, Jan. 11 (Korea Bizwire) — As the COVID-19 pandemic continues to drag on, the effects of various non-medical virus mitigation measures such as mask-wearing or social distancing are slowly dimming. A research team from Chung-Ang University Hospital compared the epidemiological data and the timing of the introduction of various non-medical measures between COVID-19 and [...]
SEOUL, Jan. 11 (Korea Bizwire) — South Korea’s fashion companies are jumping into making premium perfumes, driving head-on towards fierce competition. Handsome Corp., an affiliate of Hyundai Department Store Group, plans to open up a Liquides Perfume Bar in South Korea, an all-brand store for niche perfumes from France. The store plans to introduce some [...]
SEOUL, Jan. 11 (Korea Bizwire) — Hyundai Engineering Co., a plant engineering affiliate of Hyundai Motor Group, said Tuesday it has secured a deal to construct micro modular nuclear reactors (MMR) for a U.S. developer of the next-generation nuclear energy. Hyundai Engineering said it has agreed to invest US$30 million in Ultra Safe Nuclear Corporation [...]
SEOUL, Jan. 11 (Korea Bizwire) — Samsung Electronics Co. plans to expand the range of trade-in benefits (compensation for used products) from smartphones towards the entire spectrum of Galaxy products, including smartwatches and notebook PCs. The tech giant expanded the scope of the trade-in program that it has implemented for the Galaxy Book Pro laptop, [...]
SEOUL, Jan. 10 (Korea Bizwire) — At Consumer Electronics Show (CES) 2022, the traditional competition between Samsung Electronics Co. and its home rival LG Electronics Inc. was nowhere to be seen. Samsung plans to release an OLED-based QD Display TV this year, returning to the OLED market currently dominated by LG. “It is something we [...]
SEOUL, Jan. 10 (Korea Bizwire) — Foreign direct investment (FDI) pledges made to South Korea surged 42.3 percent in 2021 from a year earlier to reach an all-time high, data showed Monday. Foreigners pledged to invest US$29.51 billion in South Korea in 2021, compared with $20.7 billion a year earlier, according to the data by [...]
SEOUL, Jan. 9 (Korea Bizwire) — Hyundai Motor Co. said it aims for half of its U.S. vehicle sales to be environment friendly models by 2030 while planning to produce electric vehicles in the world’s most important automobile market, a company executive has said. Jose Munoz, Hyundai’s global chief operating officer, made the comments in [...]