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Cosmetics Firms Under Heavy Selling over China’s Retaliation Concerns

Cosmetics Firms Under Heavy Selling over China’s Retaliation Concerns

SEOUL, Jan. 10 (Korea Bizwire) – South Korean cosmetics makers hit 52-week lows on the local stock market Tuesday amid increased concerns over a standoff between South Korea and China over a U.S. missile defense system.  AmorePacific Co., the country’s No. 1 cosmetics maker, and other companies dependent on the Chinese market have been under [...]

S. Korea Mulls Measures Against China’s THAAD Retaliation: Source

S. Korea Mulls Measures Against China’s THAAD Retaliation: Source

SEOUL, Jan. 2 (Korea Bizwire) – South Korea is mulling countermeasures in response to suspicions that China is retaliating against the decision reached with the United States to deploy an advanced anti-missile defense system on its soil, a diplomatic source said Monday.  In July, South Korea and the U.S. announced a plan to station a [...]

Korean Fashion Industry Turns to Men, Individuality and Technology for 2017 Rebound

Korean Fashion Industry Turns to Men, Individuality and Technology for 2017 Rebound

SEOUL, Dec. 27 (Korea Bizwire) – The Samsung Fashion Institute announced Tuesday its selection of the top ten issues in Korea’s fashion industry this year. The list included several changes in the industry as well business and consumption trends, but it was marked by the stagnant industry’s struggle to survive instead of focusing on growth.  [...]

Korean Cosmetics Make Successful U.K. Debut

Korean Cosmetics Make Successful U.K. Debut

SEJONG, Dec. 20 (Korea Bizwire) – The popularity of “K-beauty” has officially found its place in the U.K. cosmetics market.  POSCO DAEWOO, POSCO’s trading subsidiary, announced Tuesday that starting next year, Korean cosmetics brands Caolion Cosmetics and Skin Food will be featured at some 220 outlets and the online store of Boots, the largest pharmacy [...]

Sales of Pricey Padded Jackets Soar despite Overall Slump

Sales of Pricey Padded Jackets Soar despite Overall Slump

SEOUL, Dec. 5 (Korea Bizwire) – South Korea’s leading department stores saw their sales of high-priced padded jackets and other premium foreign clothing brands jump in November despite a drop in overall consumption, industry data showed Monday.  Industry leader Lotte Department Store said its sales of imported premium bubble jackets spiked 45 percent last month [...]

Luxury Bag-Maker Under Fire for ‘VIP Marketing’

Luxury Bag-Maker Under Fire for ‘VIP Marketing’

SEOUL, Oct. 28 (Korea Bizwire) – Korean high-end bag maker Hormiga is under fire for false marketing, promoting one of its ostrich leather handbags as if it had been worn by President Park Geun-hye, with an astronomical price tag of $14,000.  The company introduced the bag on its homepage with the description the handbag that [...]

Competition in Botox Market Turns Ugly

Competition in Botox Market Turns Ugly

SEOUL, Oct. 14 (Korea Bizwire) – The market for botulinum toxin (BTX), commonly marketed as botox, is rapidly expanding in Korea. But fierce competition between Korean botox distributors has recently intensified, with businesses questioning the safety of each other’s products.  There are currently seven BTX distributors globally, three of which are Korean – Medytox, Hugel, [...]