SEOUL, Apr. 19 (Korea Bizwire) — For the first time ever, Orion Corp. sold more of its signature Choco Pies in Vietnam than in South Korea last year. The South Korean confectionery firm reported on Thursday that sales of Choco Pies in Vietnam rose 15 percent on-year to 92 billion won (US$80.95 million) last year, [...]
SEOUL, Apr. 19 (Korea Bizwire) — Hyundai Motor Group’s first-quarter sales in China fell for the fifth year in a row, reeling from the aftermath of a diplomatic row and increasingly competitive alternatives from Chinese automakers, company data showed Friday. In the January-March quarter, Hyundai Motor Co. and its affiliate Kia Motors Corp. sold a [...]
SEOUL, Apr. 15 (Korea Bizwire) — Sales at South Korean duty-free stores hit a new monthly high in March to breach the 2 trillion-won (US$1.76 billion) mark for the first time, industry data showed Monday, despite a recent Chinese regulation placed on small-scale vendors. The combined sales of local duty-free shops reached 2.16 trillion won [...]
SEOUL, Apr. 8 (Korea Bizwire) — With an increasing number of ‘homebodies’, those who enjoy spending most of their time at home, it has become clear that large and multifunctional household appliances are gaining significant popularity. Emart Inc., South Korea’s leading discount chain operator, announced on Sunday that the share of 65-inch TV sales exceeded [...]
SEOUL, Apr. 5 (Korea Bizwire) — An increasing number of people are reading books about fine dust in South Korea as it is becoming more difficult to breathe in fresh air on a regular basis. Yes24, a major South Korean online bookstore, said it had sold 2,340 books on fine dust thus far this year, [...]
SEOUL, Apr. 5 (Korea Bizwire) — Samsung Electronics Co. said Friday its operating earnings likely plunged in the first quarter from a year earlier amid falling memory chip prices and weak demand for display panels. The operating profit was estimated at 6.2 trillion won (US$5.45 billion) in the January-March period, a 60.4 percent drop from [...]
SEOUL, Apr. 3 (Korea Bizwire) — The ratio of sedans in South Korea’s domestic vehicle sales fell to below 50 percent for the first time last month due to higher demand for sport utility vehicles, industry data showed Wednesday. Sales of passenger vehicles such as sedans, SUVs and vans fell 1.7 percent to 114,383 units [...]
SEOUL, Apr. 3 (Korea Bizwire) — LG Electronics Inc.’s revenue from its home appliance rental service jumped over the last two years, its business report showed Wednesday, as more people opt for renting gadgets to save money on purchases, installations and maintenance. The electronics maker posted 292.4 billion won (US$257.2 million) in sales from its [...]
SEOUL, Mar. 31 (Korea Bizwire) — Overseas sales of Choco pie, Bibigo Mandu and Shin Ramen all exceeded 300 billion won (US$263.8 million) last year, a milestone for South Korean food producers that have strived to expand into new markets amid tanking demand at home, industry data showed Sunday. The three products, often referred to [...]
SEOUL, Mar. 26 (Korea Bizwire) — Samsung Electronics Co. said Tuesday that it expects its first-quarter earnings to miss market expectations due to a sharp decline in memory chip and panel prices. The South Korean tech giant said it expected a sharper-than-expected price fall in memory chips in the off-peak season and worsening profitability in [...]