SEJONG, June 29 (Korea Bizwire) — South Korea’s finance ministry said Monday it will extend a temporary cut in consumption tax on passenger cars by another six months to boost consumption and support the auto industry hit by the coronavirus pandemic. The cut in consumption tax on passenger cars had been set to end Tuesday, [...]
SEOUL, May 27 (Korea Bizwire) — Koreans visit convenience stores more than twice a week and spend about 6,000 won (US$4.86) each time, according to a recent survey. As per a report released Tuesday by market analyst OpenSurvey, Koreans go to convenience stores 2.6 times a week on average and spend an average of 6,347 [...]
SEOUL, May 22 (Korea Bizwire) – South Korea’s provision of emergency relief funds began to boost private consumption, raising revenues of small merchants hit hard by the new coronavirus pandemic in the first week of the payout, data showed Friday. In a one-off aid program, the government began offering the relief funds totaling 14.3 trillion [...]
SEOUL, April 7 (Korea Bizwire) – The Ministry of Interior and Safety said Monday it is conducting a number of campaigns in collaboration with local governments to promote consumption to help small business owners and local farmers hit by the coronavirus outbreak. There are many ways to encourage local government employees actively use restaurants that [...]
GOYANG, March 23 (Korea Bizwire) — With the massive spread of the new coronavirus expected to alter life as we know it for the foreseeable future, local governments in Gyeonggi Province are pushing for various measures to support and promote consumption. The city of Goyang will temporarily hire local students and children of small business [...]
SEOUL, Feb. 12 (Korea Bizwire) — A recent survey found that one in two people in their 20s and 30s have positive perceptions of the “flex” consumption trend, a form of consumption in which people boast while spending money on expensive products. According to a survey of 3,064 people in their 20s and 30s conducted [...]
SEOUL, Jan. 3 (Korea Bizwire) — The boundaries of popular items by each age group are being torn down. The online shopping mall Gmarket said Thursday that its analysis of last year’s preferred products by age group showed that young people in their teens to 30s preferred retro items, while those in their 40s to [...]
SEOUL, Nov. 1 (Korea Bizwire) — South Korea on Friday kicked off its annual shopping festival to attract more overseas tourists and boost domestic consumption by offering discounts through collaboration with major retailers. The annual Korea Sale FESTA kicked off for a 22-day run on Nov. 1, according to the Ministry of Trade, Industry and [...]
SEOUL, Oct. 24 (Korea Bizwire) — South Korea will launch a nationwide shopping festival next month in conjunction with major shopping malls and retailers to attract overseas tourists and boost domestic consumption, the event’s organizers said Thursday. The annual Korea Sale FESTA will kick off for a 22-day run on Nov. 1, according to the [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s coal consumption increased last year, bucking the global trend for reducing carbon emissions, a report showed Sunday. South Korea consumed 88.2 million tons of oil equivalent (TOE), a unit of energy, in 2018, up 2.4 percent from a year ago, according to the London-based energy company BP’s [...]