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Department Stores Tighten VIP Criteria Amid Rising Consumer Polarization

Department Stores Tighten VIP Criteria Amid Rising Consumer Polarization

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

Chinese Shipyards Dominate Global Orders as Korean Shipbuilders Focus on High-Value Projects

Chinese Shipyards Dominate Global Orders as Korean Shipbuilders Focus on High-Value Projects

SEOUL, Jan. 27 (Korea Bizwire) —  In 2024, seven of the world’s top 10 shipbuilders by order volume were Chinese, reflecting a shift in global shipbuilding dynamics as Chinese shipyards capitalized on volume-based strategies, according to data released on January 26 by UK-based Clarkson Research. The top four shipyards—New Times Shipbuilding, Hudong-Zhonghua Shipbuilding, Yangzijiang Shipbuilding, and

Lunar New Year Break Sparks Surge in Pet-Sitting Gigs

Lunar New Year Break Sparks Surge in Pet-Sitting Gigs

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

Domestic Violence Reports Surge 30% During Lunar New Year Holiday

Domestic Violence Reports Surge 30% During Lunar New Year Holiday

SEOUL, Jan. 27 (Korea Bizwire) — Data from the National Police Agency has revealed a significant spike in domestic violence incidents during last year’s Lunar New Year holiday period in South Korea, with reports exceeding typical daily averages by 30%. According to police records obtained by Democratic Party lawmaker Yang Bu-nam, authorities received 3,384 domestic violence

LG and Samsung Dominate U.S. Premium Washer Market in Consumer Reports Rankings

LG and Samsung Dominate U.S. Premium Washer Market in Consumer Reports Rankings

SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s LG Electronics and Samsung Electronics reaffirmed their dominance in the U.S. premium appliance market, securing all top spots in Consumer Reports’ 2025 rankings for large-capacity washers. Despite increasing competition from Chinese brands, Korean companies demonstrated superior technology and reliability, solidifying their positions in the world’s largest premium market.

High-End Apartments Dominate Seoul Real Estate Market as Prices Surge

High-End Apartments Dominate Seoul Real Estate Market as Prices Surge

SEOUL, Jan. 27 (Korea Bizwire) — For the first time in history, transactions of Seoul apartments priced above ₩900 million accounted for more than half of the city’s total sales in 2024, reflecting a shift toward high-end properties amid rising home prices and a preference for “one solid investment.” According to the Ministry of Land,

South Korean Catholic Church Marks 50 Years of International Aid

South Korean Catholic Church Marks 50 Years of International Aid

SEOUL, Jan. 27 (Korea Bizwire) — Fifty years after beginning its international development cooperation efforts, the Catholic Church in South Korea has transformed from an aid recipient to a leading donor in Asia, highlighting the nation’s remarkable economic transformation.  According to Caritas Korea International, the Church’s international aid efforts began in 1975 with the establishment of

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