SEOUL, May 9 (Korea Bizwire) — The Seoul Facilities Corporation announced Friday that it will open a new AI-powered “Smart Shelter” in the Jonggak underground shopping center this November, transforming long-vacant retail spaces into a tech-driven experience zone blending shopping innovation and public rest areas. Spanning approximately 76 square meters (23 pyeong), the Smart Shelter will [...]
SEOUL, May 6 (Korea Bizwire) — South Korea’s beauty industry continues its explosive global ascent, with overseas direct purchases of Korean cosmetics and perfumes — commonly referred to as K-beauty — nearly doubling in 2024 to approach $1 billion, according to newly released customs data. The Korea Customs Service, in data submitted to Rep. Park Sung-hoon [...]
SEOUL, May 6 (Korea Bizwire) — Beauty products are undergoing a transformation in South Korea, emerging as fashion-forward accessories among the country’s style-savvy MZ generation — a demographic encompassing those born between the early 1980s and early 2000s. No longer limited to cosmetic utility, items like lip balms, tints, and compact cushions are increasingly designed to [...]
SEOUL, April 28 (Korea Bizwire) — Dyson unveiled its latest hair styling innovation, the “Airwrap Coanda 2X Multi-Styler and Dryer,” at a pop-up store in Seoul’s Seongsu district on April 28, marking the global debut of the redesigned device in South Korea. The new Airwrap Coanda 2X features Dyson’s most powerful hair motor to date, spinning [...]
SEOUL, April 25, (Korea Bizwire) — In a notable shift from past consumer sentiment, Japanese fashion is enjoying a revival in South Korea, while Korean labels are making bold inroads into Japan’s polarized fashion market, redefining regional retail dynamics. Once dampened by the 2019 “No Japan” movement, Korean interest in Japanese fashion is resurging, particularly [...]
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 [...]