SEOUL, Nov. 22 (Korea Bizwire) — Major South Korean companies’ inventories spiked nearly 36 percent in the first nine months of this year amid a global economic slump, a corporate tracker said Tuesday. Combined inventories of 195 out of the country’s top 500 firms by sales came to 165.4 trillion won (US$122 billion) as of [...]
SEOUL, Nov. 22 (Korea Bizwire) — The convenience store industry is striving to play a greater role in public safety amid growing public interest in the response to emergency situations after the Itaewon disaster. CU recently signed a memorandum of understanding with security service provider S-1 Corp. to establish emergency medical equipment-related public services. Under [...]
SEOUL, Nov. 21 (Korea Bizwire) — A growing number of employees are flocking to company cafeterias to minimize spending on food. South Korean food service company Ourhome Ltd.’s October sales for office cafeterias in Seoul jumped by 34.7 percent from last year. Sales at company cafeterias in business districts like Gangnam and Yeouido, in particular, [...]
SEOUL, Nov. 21 (Korea Bizwire) — As South Korea enters its first end-of-year season without any social distancing rules in three years, a growing number of consumers are looking for short jackets and long boots to stay warm this winter. Online shopping mall Gmarket analyzed the increase in winter apparel sales from Oct. 12-Nov. 13 [...]
SEOUL, Nov. 21 (Korea Bizwire) — Sales of Korean-style corn dog, which already doubled last year, continue to rise, data showed Sunday. The state-run Korea Agro-Fisheries Trade Corp. reported that exports of frozen food products reached US$45.3 million last year, up 99.5 percent from a year earlier. Corn dog exports stood at a mere $120,000 [...]
SEOUL, Nov. 21 (Korea Bizwire) – The number of people subject to the so-called comprehensive real estate tax hovered above 1 million for the first time since the scheme was introduced in 2005 amid soaring overall property prices, data showed Monday. A total of 1.3 million home and land owners will receive the tax invoice [...]
SEOUL, Nov. 21 (Korea Bizwire) — South Korea’s nationwide consumer prices rose 5.9 percent on-year in the third quarter of the year due to higher energy and dining-out costs, data showed Monday. The figure marked an expansion from the 5.4 percent on-year growth tallied a quarter earlier, according to the data from Statistics Korea. By [...]
BRUSSELS, Nov. 18 (Korea Bizwire) – Cohabs, a Brussels-based company specializing in coliving, announces the entry into its capital of three new institutional investors: global real estate investor Ivanhoé Cambridge, Belfius Insurance, and the real estate arm of the Belgian Sovereign Fund (SFPIM – Real Estate). All the founders and historical shareholders AG Real Estate and Alphastone remain on board to fuel the growth [...]
BUSAN, Nov. 18 (Korea Bizwire) — Authorities are scrambling to ensure a safe game festival, which is expected to attract a massive number of visitors, following the Itaewon crowd crush. On the first day of the annual global game trade fair G-Star at the BEXCO exhibition center in the southeastern port city of Busan on [...]
TAEBAEK, Nov. 18 (Korea Bizwire) — The population of miners in Taebaek, Gangwon Province, once a booming coal mine area, has fallen below 500 people. The Taebaek Chamber of Commerce and Industry reported that there were 487 miners as of late September, which represents only 3.6 percent of the miner population in 1989 (13,362 people). [...]