SEOUL, March 5 (Korea Bizwire) — Korean beauty technology is capturing worldwide attention as consumers increasingly turn to professional-grade skincare devices for home use, driving substantial growth in the domestic and international markets. The beauty device sector has seen remarkable growth, with industry leader APR reporting sales of 312.6 billion won last year, marking a 44.6% [...]
SEOUL, March 5 (Korea Bizwire) — A government audit has uncovered a growing black market for discounted goods from military stores, with unauthorized resellers exploiting various loopholes to secure products for resale through online marketplaces. According to a Defense Ministry audit report released by the Board of Audit and Inspection (BAI) on March 4, resellers have increasingly [...]
SEOUL, March 5 (Korea Bizwire) — The premium on South Korean gold prices, which had been trading more than 20% above international rates, has rapidly declined, leading to heightened market volatility. At one point, domestic gold prices dropped at 15 times the rate of global gold prices, triggering increased investor caution. According to the Korea [...]
SEOUL, March 5 (Korea Bizwire) — The escalating tariff war initiated by U.S. President Donald Trump is disrupting the decades-old global free trade system, triggering a shift toward protectionism among major economies, including China. The retreat from free trade threatens export-driven economies like South Korea, which now faces mounting challenges amid intensifying U.S.-China economic rivalry. [...]
SEOUL, March 5 (Korea Bizwire) — Microsoft and Epic Games have withdrawn from the Korea Game Industry Association, marking a significant shift in their engagement with the South Korean gaming market. Both companies, which operate major gaming platforms Xbox and Epic Games Store, respectively, have been removed from the association’s membership roster, industry officials confirmed today. [...]
SEOUL, March 5 (Korea Bizwire) — In a move that has sent shockwaves through South Korea’s retail industry, Homeplus, one of the country’s largest retail chains, filed for court receivership on March 4, citing concerns over potential liquidity issues that could affect vendor payments as early as May. The bankruptcy filing has drawn criticism from industry [...]
SEOUL, March 4 (Korea Bizwire) — U.S. President Donald Trump has abruptly suspended all military aid to Ukraine, escalating tensions with Kyiv and raising broader concerns among allies who depend on American security and economic support. According to Bloomberg News on March 3, Trump ordered an immediate halt to U.S. military assistance to Ukraine, including shipments [...]
MOSCOW, March 4 (Korea Bizwire) — Should economic sanctions against Russia be lifted, South Korea’s Hyundai and Kia are expected to be the first foreign automakers to resume operations in the country, according to Russian industry experts. In an interview with TASS News Agency on March 4, Maxim Kadakov, editor-in-chief of Russian automotive magazine Za Rulem, [...]
SEOUL, March 4 (Korea Bizwire) — Shares of South Korean defense companies surged on March 4 following heightened geopolitical uncertainty after a failed summit between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky, fueling expectations of increased military spending in Europe. According to the Korea Exchange, Hanwha Aerospace [012450] soared 18.01% to close at 701,000 [...]
SEOUL, March 4 (Korea Bizwire) — SK Hynix saw a major surge in U.S. sales in 2024, fueled by booming demand for high-bandwidth memory (HBM) and AI-driven enterprise storage solutions, reinforcing the company’s position as a key supplier to American tech giants. According to SK Hynix’s latest financial disclosure on March 4, its U.S. subsidiary, SK [...]