SEOUL, Feb. 1 (Korea Bizwire) — Three South Korean electric vehicle (EV) battery makers accounted for over a third of the global market last year underscoring their increased presence in the fast-growing sector, a market research firm said Monday. The three — LG Energy Solution Ltd., Samsung SDI Co. and SK Innovation Co. — supplied [...]
SEOUL, Feb. 1 (Korea Bizwire) — Sales at South Korean duty-free stores plunged nearly 38 percent on-year in 2020 due to the spread of the new coronavirus, industry data showed Monday. Combined sales of local duty-free shops totaled 15.5 trillion won (US$13.9 billion) last year, down 37.7 percent from a year earlier, according to the [...]
SEOUL, Jan. 31 (Korea Bizwire) — The number of passengers using South Korean airports fell sharply last year due to the fallout of the new coronavirus outbreak, marking the first drop in 12 years, data showed Sunday. The number of people using 15 airports across the nation came to 65 million last year, down 58.8 [...]
SEOUL, Jan. 31 (Korea Bizwire) — South Korea’s exports of electric vehicles (EVs) advanced nearly 66 percent on-year in 2020, data showed Sunday, despite the overall slump in the automobile industry amid the COVID-19 pandemic. Outbound shipments of EVs came to US$3.9 billion in 2020, marking the first time for the volume to surpass that [...]
SEOUL, Jan. 30 (Korea Bizwire) — The number of working days lost due to labor disputes surged by nearly 40 percent in South Korea last year, a report said Saturday, indicating a likely deterioration in labor-management relations at local firms. According to the report by the state-funded Korea Labor Institute, the number of lost work [...]
SEOUL, Jan. 29 (Korea Bizwire) — Sales of cigarettes in South Korea rose 4.1 percent on-year last year as smokers’ purchases via duty-free channels were thwarted amid the pandemic, the finance ministry said Friday. South Korean smokers purchased 3.59 billion 20-cigarette packs last year, compared with 3.45 billion packs the previous year, according to the [...]
SEOUL, Jan. 29 (Korea Bizwire) — The number of 5G subscribers in South Korea approached nearly 12 million last year since the launch of the latest mobile network in April 2019, data showed Friday. South Korea’s 5G users stood at 11.85 million as of end-December last year, up over 900,000 from the previous month, according [...]
SEOUL, Jan. 29 (Korea Bizwire) — South Korea’s exports of autos declined 12.1 percent on-year last year due to the fallout of the pandemic, data showed Friday. The country’s outbound shipments of cars came to $34.7 billion last year, compared with $39 billion the previous year, according to the data compiled by the Korea Customs [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Koreans’ consumption of rice hit a record low in 2020, data showed Thursday, due mainly to changes in diet and eating habits. The average South Korean consumed 57.7 kilograms of rice in 2020, down 2.5 percent or 1.5 kilograms from the previous year, the Ministry of Agriculture, Food [...]
SEOUL, Jan. 28 (Korea Bizwire) — Retail sales in South Korea rose 5.5 percent on-year in 2020 due to strong gains from the online segment in sync with the social distancing policy amid the unprecedented virus pandemic. The combined sales of local online shops shot up 18.4 percent in 2020 from the previous year, while [...]