SEOUL, Apr. 17 (Korea Bizwire) — South Korea’s beer imports dropped 20 percent in the first quarter from a year earlier, according to data on Wednesday, as beer purchases from China plunged following the release of a viral video showing a man urinating into a tank at Tsingtao Brewery last year. The country imported US$45.16 [...]
SEOUL, Apr. 15 (Korea Bizwire) — Despite a significant drop in sales for major online luxury goods platforms in South Korea due to the economic downturn, the pre-owned luxury market has shown resilience, even setting a record transaction volume last month in line with the start of the new school year, industry data showed on April [...]
SEOUL, Apr. 15 (Korea Bizwire) — A striking 8 out of 10 South Koreans in their 20s and 30s have yet to achieve financial independence from their parents, according to a recent survey by the job platform Jinhaksa Catch. The respondents cited a lack of stable income due to employment challenges as the primary reason for [...]
SEOUL, Apr. 12 (Korea Bizwire) — Samsung Electronics’ innovative all-in-one washer-dryer, introduced in South Korea in February, has achieved a successful market entry, defying expectations that the novel form factor might face an uphill battle for consumer adoption. The “Bespoke AI Combo,” which combines washing and drying functions into a single appliance, immediately captured consumer interest [...]
SEOUL, Apr. 12 (Korea Bizwire) – Fueled by an enduring passion for camping, the number of campgrounds across South Korea surpassed 3,700 last year, setting a new all-time high as the outdoor pursuit maintains its popularity. According to data from the Korea Association of Tourism Organizations released on April 11, the nationwide tally of campgrounds stood [...]
SEOUL, Apr. 11 (Korea Bizwire) – Korean customers who have been indulging in the thrill of bargain hunting on Chinese e-commerce platforms like AliExpress and Temu are now reacting with shock and concern following reports of carcinogenic substances detected in products purchased from these sites. On April 10, the retail industry sources reported a surge in [...]
SEOUL, Apr. 11 (Korea Bizwire) – In the first quarter (January-March) of the South Korean automobile market, SUVs and vans, collectively known as RVs (recreational vehicles) locally, captured the top four spots in sales rankings. Hyundai’s Grandeur, which had consistently held a place in the top five, fell to sixth position, leaving no sedans among the [...]
SEOUL, Apr. 11 (Korea Bizwire) – Chinese online shopping platforms, such as AliExpress and Temu, have experienced a remarkable surge in sales, with an increase of over 130% in just six months since their entry into the South Korean market. The data reveals that transactions under 30,000 won accounted for the majority of sales, at 78% [...]
SEOUL, Apr. 9 (Korea Bizwire) – Samsung Electronics emerged as the most popular stock trading among South Korean minors so far this year, while Tesla and Apple led the charge in overseas equities, according to an analysis by Shinhan Investment Corp. In a review of the top 10 stocks traded by its underage clients from January [...]
SEOUL, Apr. 9 (Korea Bizwire) – Eight out of 10 customers who purchased a washing machine or dryer from LG Electronics’ retail stores in South Korea this year opted for combination washer-dryer units, the company announced on April 8. The popularity of the all-in-one laundry appliances, which handle both washing and drying cycles, reflects their space [...]