SEOUL, Dec. 26 (Korea Bizwire) — This winter, demand for imported fruits is increasing as domestic fruit produced in the winter is limited to produce such as tangerines and strawberries. According to the Korea Agro-Fisheries & Food Trade Corp., grapes are particularly popular this year. Grape imports stalled in 2016 after reaching a peak in [...]
SEOUL, Dec. 21 (Korea Bizwire) – The so-called YOLO (You Only Live Once) syndrome is rising as a new shopping trend among consumers. YOLO consumption refers to the act of boldly purchasing expensive goods despite financial risk, as long as the buyer is satisfied. Gmarket asked 604 shoppers about YOLO shopping between December 12 and [...]
SEOUL, Nov. 30 (Korea Bizwire) — The used car market in South Korea is expected to break the record of 3.78 million transactions this year as an increasing number of consumers are shifting their focus to used cars. The Ministry of Land, Infrastructure and Transport announced on Thursday that the number of used car transactions [...]
HONG KONG, CHINA, Nov. 22 (Korea Bizwire) – Why do we care about green products and services? Are we protecting the environment or our face? As more people are becoming aware of the importance of environmental protection, more people are supporting green products and services. This is also true in tourism where green hotels are becoming [...]
SEOUL, Jun. 13 (Korea Bizwire) — With an increasing number of South Korean consumers opting to make their online purchases thorough overseas websites, complaints related to direct foreign purchases are also on the rise. The Korea Consumer Agency’s Cross Border Transaction Consumer Portal saw a 305 percent rise in complaints last year with 1,463 cases, [...]
SEOUL, May 23 (Korea Bizwire) — Eating-out expenses and prices of processed foods in South Korea have risen significantly over the past year, data showed Wednesday, in an additional burden to local consumers. According to the data from the Korea Consumer Agency, six out of the eight dishes most favored by South Koreans when eating [...]
SEOUL, May 22 (Korea Bizwire) — Dozens of consumer activists on Monday pressed a local bed company to compensate consumers for selling beds that have been found to emit radiation levels that exceed safety limits. The activists also called on the government to ensure that Daijin Bed Co. will compensate consumers over the matter, with [...]
SEOUL, March 31 (Korea Bizwire) — There’s a new coinage emerging amongst South Korean consumers that literally translates into “f— it expense.” The origin of sibal (the four-letter word) biyong (expense or cost) goes back to November 28 of last year, when a local Twitter user (satuki_yami) defined the term as an expense that could [...]
SEOUL, Feb. 3 (Korea Bizwire) – A boycott is perhaps the most effective way for consumers to protest against a company’s malpractice or alleged misconduct. The practice is also common in Korea, with several big-name companies facing boycotts in recent years. Oxy Reckitt Benckiser was confronted with nationwide rage for selling deadly humidifier sterilizers that [...]
SEOUL, Korea, Mar 21 (Korea Bizwire) — Domestic prices of imported toys for toddlers and children are much higher than those charged outside Korea, nearly by twice in some cases. Such price differential is way too extreme even when all the tariff duties on imported toys (0-8%), value-added taxes (10%) and distributors’ margins, which usually [...]