SEOUL, Mar. 12 (Korea Bizwire) – Two years into the era of high inflation, elusive price increases led by fruits and vegetables such as apples, pears, and green onions continue to burden consumers. Following the hike in gasoline and the cost of eating out in previous years, the soaring prices of everyday food items have become [...]
SEOUL, Feb. 20 (Korea Bizwire) — South Korea’s consumer sentiment rose for a third consecutive month in February amid moderating inflation, a recovery in exports and hopes for an end to the Federal Reserve’s rate hikes, a central bank poll showed Tuesday. The composite consumer sentiment index stood at 101.9 in February, up from 101.6 [...]
SEOUL, Jan. 18 (Korea Bizwire) — Shinhan Card recently identified “SPARK” as the defining keyword for this year’s consumer trends. This acronym encompasses five specific sub-trends: ‘Start the Time Revolution’, ‘Pivot Family Model’, ‘Age of Funflation’, ‘Ripples of Stimulating Polarization’, and ‘Keep an Eye on Tasty Entertainment’. The ‘Start the Time Revolution’ trend indicates a shift towards [...]
SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s consumer sentiment snapped its four-month decline in December amid moderating inflation, a recovery in exports and hopes for an end in the Federal Reserve’s rate hikes, a central bank poll showed Wednesday. The composite consumer sentiment index stood at 99.5 in December, up from 97.2 the previous [...]
SEOUL, Oct. 26 (Korea Bizwire) – A recent survey has revealed that LG Electronics leads in the category of home electronics most cherished by Korean consumers. According to CEO Score, a corporate data research institute, LG secured the top position with 586 products out of a total of 3,600 ranked within the top 300 in Naver [...]
SEOUL, Oct. 25 (Korea Bizwire) — South Korea’s consumer sentiment slid for the third straight month in October amid woes over an economic slowdown, slumping exports and weakened spending power, a central bank poll showed Wednesday. The composite consumer sentiment index stood at 98.1 in October, down from 99.7 the previous month, marking the lowest [...]
SEOUL, Dec. 8 (Korea Bizwire) — Businesses with Consumer-centered Management (CCM) certification tend to show better performance in environmental, social and governance (ESG) management, a consumer watchdog said Tuesday. The Korea Consumer Agency analyzed the annual CCM Certification Data from 2012 to 2020 and the ESG Performance Data compiled by the Korea Corporate Governance Service [...]
SEOUL, Aug. 30 (Korea Bizwire) – Consumer sentiment has turned pessimistic in South Korea, hitting a new 17-month low. The Composite Consumer Sentiment Index (CCSI) for August plunged to 99.2, down 1.8 points from the previous month, according to a survey by the Bank of Korea (BOK) on Aug. 28. This marks the lowest CCSI score [...]
SEJONG, Feb. 23 (Korea Bizwire) – The South Korean government is expected to adopt a group litigation system for consumers, according to a new report. According to the law enforcement reform task force report published by the Korea Fair Trade Commission (KFTC) on Thursday, the government is on course to allow consumers to file class-action [...]
SEOUL, Dec. 4 (Korea Bizwire) — The South Korean government will establish a plan to renegotiate the free trade agreement (FTA) with the United States and notify its course of action to the National Assembly, the trade ministry said Monday. Trade Minister Kim Hyun-chong held a meeting with officials from 20 ministries and government organizations [...]