SEOUL, April 10 (Korea Bizwire) — South Korean exporters are bracing for economic turbulence as the United States imposes sweeping reciprocal tariffs, effective April 9. The new trade measures levy a 25% tariff on South Korean exports—casting a shadow over high-performing sectors like K-food, K-beauty, and fashion that have found strong demand in the U.S. market. [...]
SEOUL, April 8 (Korea Bizwire) — Despite intensifying competition from Chinese e-commerce giants AliExpress, Temu, and Shein—often collectively referred to as “Al-Te-Shi”—South Korea’s leading online fashion platforms posted robust growth in both revenue and profitability last year, marking a notable defense of their market positions. According to industry data released Monday, Musinsa, the country’s top online [...]
SEOUL, March 26 (Korea Bizwire) — Chanel Korea reported record annual revenue of 1.84 trillion won (approximately $1.3 billion) in 2024, marking an 8% increase from the previous year, according to the company’s audited financial statement released on Tuesday. Despite the robust sales growth, the company’s operating profit slipped 1% to 269.5 billion won, while net [...]
SEOUL, March 18 (Korea Bizwire) — Zara, the Spanish fashion giant, is set to open its first Zacaffe location in South Korea this May, launching inside the brand’s newly renovated flagship store in Myeong-dong, Seoul. The move reflects a growing trend among global fashion brands incorporating cafés into their retail spaces, offering customers a more [...]
SEOUL, March 9 (Korea Bizwire) — As the economic downturn persists, South Korea’s luxury market is witnessing a shift in consumer spending habits, with high-end cosmetics sales outpacing those of expensive fashion items like designer handbags and apparel. According to the retail industry on Sunday, luxury beauty brands such as Prada, Hermès, and Givenchy saw their [...]
SEOUL, March 7 (Korea Bizwire) — Samsung C&T’s construction division has won a main prize in the product category at the iF Design Award 2025 for its Raemian brand upcycled goods, the company announced on March 6. The iF Design Award, established in 1953 by the German International Forum, is one of the world’s most prestigious [...]
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, Feb. 27 (Korea Bizwire) — A new fleece sweater, combining practicality with style, has emerged as the most popular military-issued item among soldiers just one year after its introduction to South Korean troops. According to a survey conducted by the Korea Defense Daily from January 17 to 31, polling 535 soldiers about their favorite military-issued items, [...]
SEOUL, Feb. 26 (Korea Bizwire) — The South Korean Ministry of Food and Drug Safety issued guidelines on February 25 for the safe use of cosmetics among youth, responding to a trend of increasingly younger children beginning to use makeup products. A survey conducted by the ministry from May to November last year revealed that 11% of [...]
SEOUL, Feb. 25 (Korea Bizwire) — A viral parody video satirizing the education-focused lifestyle of affluent mothers in Seoul’s Daechi-dong has led to a sudden surge in secondhand sales of Moncler luxury down jackets. The video, featuring popular comedian Lee Su-ji portraying a character known as “Jamie’s mom,” humorously captures the excessive parenting styles associated [...]