SEOUL, Feb. 28 (Korea Bizwire) — South Koreans’ direct purchases of foreign goods hit a fresh record high last year, data showed Tuesday, on the back of stronger demand for dietary supplements and electronics. South Korean shoppers bought a total of US$4.72 billion worth of foreign goods directly from overseas in 2022, compared with $4.65 [...]
SEOUL, Feb. 28 (Korea Bizwire) — Korean Air Co., South Korea’s national flag carrier, announced on Monday the launch of eco-friendly cosmetics pouches made from upcycled life vests. The company released a limited number of cosmetics pouches in collaboration with local beauty brand 107. The upcycled pouches consist of a facial cleanser, a face mist, [...]
SEOUL, Feb. 28 (Korea Bizwire) — Sales of iced Americanos at coffee shops nationwide turned out to be higher than those of hot Americanos last month despite freezing temperatures. South Korean coffee shop chain Hollys Coffee analyzed sales data from customers with a Hollys membership and found that iced Americanos made up 55 percent of [...]
SEOUL, Feb. 27 (Korea Bizwire) — Despite soaring consumer prices and interest rates, South Korean travelers are willing to pay any price to visit relatively underpopulated, attractive travel destinations. Hyecho Adventure Travel, a travel agency specializing in outdoor travel, is excited that it was able to fill two teams of twenty people on a package [...]
SEOUL, Feb. 27 (Korea Bizwire) — The price of goat meat is surging as it is becoming known as the best alternative to dog meat. The Korea Black Goat Association reported that the price of black goat meat reached 19,000 won (US$14.40) per kilogram as of Feb. 13, up 73 percent from last July. The [...]
SEOUL, Feb. 27 (Korea Bizwire) — LG Electronics Inc. announced that it will open up free laundromats and mobile service centers in the parts of Turkey recently devastated by a series of earthquakes. The company has set up some 120 washing machines and dryers at eight temporary shelters in Mersin and Tarsus. LG will deploy [...]
SEOUL, Feb. 27 (Korea Bizwire) — The number of initial public offerings (IPOs) and the amount of funds raised from the process in 2022 decreased sharply due to market uncertainty caused by inflation and monetary tightening in major countries, data showed Monday. A total of 70 companies made their debuts on the main KOSPI and [...]
SEOUL, Feb. 27 (Korea Bizwire) — South Korea’s total arable land decreased for the 10th consecutive year in 2022 as people consumed less rice, leading to an overall contraction of rice paddies, data showed Monday. The country’s arable land totaled 1.52 million hectares — slightly bigger than the size of the U.S. state of Connecticut [...]
SEOUL, Feb. 27 (Korea Bizwire) — Retail sales in South Korea grew 4 percent on-year in January, though offline retailers saw their sales fall due to the New Year’s holiday and amid an economic slowdown, data has showed. The combined sales of 25 major offline and online retailers came to 14.7 trillion won (US$11.19 billion) [...]
SEOUL, Feb. 26 (Korea Bizwire) — Only 4 percent of single South Korean women in their 20s and early 30s view marriage and childbirth as essential, a survey showed Sunday, a development that illustrated the chronic decline in childbirths in Asia’s fourth-largest economy. Meanwhile, 12.9 percent of single men in the same age bracket agreed [...]