SEOUL, Dec. 23 (Korea Bizwire) — South Korea’s domestic car market moved in two different directions this year with the rise in popularity of large sedans and sport utility vehicles (SUVs) standing in contrast to weaker demand for smaller vehicles, industry data showed Sunday. In the January-November period, Hyundai Motor Co., Kia Motors Corp., GM [...]
SEOUL, Dec. 21 (Korea Bizwire) – The so-called YOLO (You Only Live Once) syndrome is rising as a new shopping trend among consumers. YOLO consumption refers to the act of boldly purchasing expensive goods despite financial risk, as long as the buyer is satisfied. Gmarket asked 604 shoppers about YOLO shopping between December 12 and [...]
SEOUL, Dec. 14 (Korea Bizwire) — Some brand-name shoes were more expensive when ordered abroad compared to local retailers, while most South Koreans still think it’s cheaper to buy foreign products overseas than in South Korea. The Korea Consumer Agency (KCA) said on December 13 that 11 of 18 foreign brand shoes were cheaper in [...]
SEOUL, Nov. 14 (Korea Bizwire) — More complaints are being registered as an increasing number of South Korean drivers are opting for imported cars. The Korea Consumer Agency (KCA) said on Tuesday that a total of 1,410 complaints involving imported vehicles have been lodged over the past five years. A total of 2,945 complaints regarding [...]
SEOUL, Nov. 6 (Korea Bizwire) — Garosu-gil, a short stretch of road that was once a gathering place for fashionistas, is now attracting a younger crowd including millennials and Generation Zers (Gen Z for short) who are out to seek new fads. Millennials make up the population who were born between the early 1980s and [...]
SEOUL, Sept. 6 (Korea Bizwire) — Thanks to the newly imposed government edict limiting official working hours to 52 per week, an increasing number of men were found to be shopping online for household goods after spending more time at home in the evening after returning from work. According to the popular e-commerce website Auction, [...]
SEJONG, Sept. 3 (Korea Bizwire) — South Korea’s fruit imports reached record high levels last year on growing demand for dietary diversity, customs data showed Monday. The country imported 834,000 tons of fruit, worth US$1.24 billion, last year. In terms of value, last year’s figure marks the highest tally ever, according to the data compiled [...]
SEOUL, Aug. 30 (Korea Bizwire) — Sweltering heat affecting South Korea has boosted the sales of local department stores this summer as people have flocked to air-conditioned malls to get relief, industry sources said Thursday. According to retail sector data, revenues from restaurants inside Lotte Department Store jumped 10.6 percent on-year between July 16 and [...]
SEOUL, Aug. 29 (Korea Bizwire) — The Vietnamese city of Da Nang was the most popular summer vacation destination this year, a shift from last year’s preference for Japanese cities, according to an online shopping mall Wednesday. Flight ticket sales from the July-August period showed Da Nang as the top foreign travel location, TMON said, [...]
SEOUL, Aug. 22 (Korea Bizwire) — After BMW Korea’s recent decision to recall its vehicles, the price of used BMWs is falling with the number of cars being sold stagnating. This is according to SK Encar, South Korea’s biggest online used car market, which surveyed current market prices and number of vehicles sold for BMW’s [...]