SEOUL, Jan. 28 (Korea Bizwire) — Once a cornerstone of youth culture in South Korea, PC cafés—known locally as “PC bangs”—are vanishing at an accelerating rate. According to the National Tax Service’s statistical portal, the number of PC cafés nationwide stood at 7,280 as of October 2024, a sharp 7.6% drop from the 7,858 recorded a [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s luxury department stores are increasingly reliant on high-spending VIP customers, with their contribution to total sales surpassing 50% at some retailers in 2024, reflecting a growing polarization in consumer behavior amid economic challenges. According to industry data released on January 26, VIP customers accounted for 51% of sales [...]
SEOUL, Jan. 27 (Korea Bizwire) — As South Koreans prepare for what will be an unprecedented nine-day Lunar New Year holiday for some, an unusual employment trend is emerging: a sharp increase in short-term jobs caring for pets, from feeding fish to walking dogs. According to the online community marketplace Karrot Market, pet-related job postings have [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s e-commerce sector saw a challenging 2024, with economic pressures leading to reduced consumer spending across platforms. Despite these headwinds and competition from Chinese e-commerce players like AliExpress and Temu, Coupang and SSG.com maintained strong customer loyalty, according to data released on January 26 by analytics firm IGAWorks. SSG.com [...]
SEOUL, Jan. 25 (Korea Bizwire) — Brandy Melville, a fashion brand known for its “one-size” policy, has ignited intense debate in South Korea following the opening of its first store in Seoul’s Seongdong District. The brand’s exclusive sizing, which caters primarily to petite frames (XS-S), has drawn both fascination and backlash as consumers grapple with its [...]
SEOUL, Jan. 24 (Korea Bizwire) — South Korea’s domestic auto market saw its weakest performance in over a decade in 2024, with new car sales hitting their lowest level since 2013, according to a report released by the Korea Automobile & Mobility Industry Association (KAMA) on Thursday. The report revealed that 1.635 million new vehicles were [...]
SEOUL, Jan. 24 (Korea Bizwire) — A stark gender divide exists among South Korean teenagers regarding dating expenses, with young women overwhelmingly favoring equal cost-sharing while young men show more traditional views, according to a lifestyle report released by Woori Bank on January 23. The “Teens’ Diary” report, which surveyed 3,729 teenagers aged 14-18 nationwide, revealed [...]
SEOUL, Jan. 17 (Korea Bizwire) — Shinhan Card, a major South Korean credit card company, unveiled ‘REVIVE’ as its consumer trend keyword for 2025 on January 16, based on an analysis of customer spending and social media data. The REVIVE framework encompasses six key trends: Redefine Festivities, Exploring Identity, Virtual Companions, Integrated Contents Commerce, Value of [...]
SEOUL, Jan. 17 (Korea Bizwire) — LG Electronics has launched its latest Lifezip pop-up store, “Romantic Cabin.zip,” at the Gonjiam Resort ski area in Gwangju, Gyeonggi Province, the company announced on Thursday. This initiative is part of LG’s growing home lifestyle community, Lifezip, which aims to enrich customers’ lives by sharing diverse home-based activities. Lifezip, branded [...]
SEOUL, Jan. 16 (Korea Bizwire) — For the first time since the 1997-1998 Asian financial crisis, South Korea’s imported car market has experienced a two-year consecutive decline in sales. According to the Korea Automobile Importers & Distributors Association (KAIDA) on January 15, the number of newly registered imported passenger vehicles in 2024 totaled 263,288 units, marking [...]