SEOUL, Dec. 2 (Korea Bizwire) – Lotte Group has requested a police investigation into individuals responsible for creating and spreading false rumors, including allegations of the group facing a moratorium, which the company says are baseless. According to legal sources on December 2, Lotte Holdings filed a complaint with the Gangnam Police Station in Seoul, seeking [...]
SEOUL, Dec. 2 (Korea Bizwire) – Hyundai Motor Co. announced on December 2 the release of the Avante N TCR Edition, a limited-edition model that incorporates the automaker’s expertise in motorsports. The “TCR” in the model name refers to the Touring Car Racing World Tour, a global competition for production-based race cars, in which Hyundai has [...]
SEOUL, Dec. 2 (Korea Bizwire) – Despite persistent inflation, South Korea’s fragrance market is booming, with niche luxury perfumes gaining prominence. International brands like Jo Malone, Diptyque, and Byredo are leading the charge, capturing significant consumer interest and driving growth in the high-end cosmetics sector. According to industry data, niche perfume sales through Shinsegae International’s [...]
SEOUL, Dec. 2 (Korea Bizwire) – South Korea can no longer consider itself immune to the global scourge of academic “paper mills,” as a growing number of international students at Korean institutions have been found using these fraudulent services to fabricate research credentials, according to a new report. The National Research Foundation of Korea (NRF) revealed [...]
SEOUL, Dec. 2 (Korea Bizwire) – Spending on clothing and footwear in South Korea has dropped to its lowest share of consumer expenditures, as domestic demand remains weak and unseasonably warm weather curbs the need for fall apparel. Data from Statistics Korea shows that in the third quarter of 2024, average monthly consumer spending per [...]
SEOUL, Dec. 2 (Korea Bizwire) – South Korea’s economy is expected to operate below its potential capacity for six consecutive years through 2025, according to new projections from the Organization for Economic Cooperation and Development (OECD), raising concerns about structural weakness in what was once one of Asia’s fastest-growing economies. Among the Group of 7 nations [...]
SEOUL, Dec. 2 (Korea Bizwire) – Hybrid vehicle registrations in South Korea are projected to exceed two million by the end of this year, marking a significant milestone 16 years after their introduction to the domestic market in 2008. The surge in hybrid car adoption is also driving a broader shift toward eco-friendly vehicles, with [...]
BUSAN, Dec. 2 (Korea Bizwire) – The Busan International Art Fair (BIAF), an open art market that facilitates direct transactions between artists and collectors, is set to open on December 5 at BEXCO in Busan’s Haeundae district. The K-ART International Exchange Association announced on December 1 that the 2024 edition of BIAF will run for four [...]
SEOUL, Dec. 2 (Korea Bizwire) – With Alex Wong, a former Coupang executive, emerging as a key figure in the Trump administration’s North Korea policy, attention is turning to the multinational workforce at South Korea’s e-commerce giant, where foreign employees now exceed 1,000 and include more than 250 full-time interpreters and translators. Foreign nationals make up [...]
ULSAN, Dec. 2 (Korea Bizwire) – The Ulsan Ulju Mountain Film Festival (UMFF), South Korea’s only international mountain film festival, is seeing its global standing rise as it receives numerous requests for collaboration and exchange from major mountain film festivals and museums worldwide. Festival organizers announced on December 1 that following the International Alliance for Mountain [...]