SEOUL, Oct. 10 (Korea Bizwire) — Weak domestic consumption and investment have hampered the South Korean economic recovery despite strong exports, a state-run think tank said Thursday. “The South Korean economy is experiencing limited improvement as the recovery of domestic demand, especially in construction investment, is delayed, despite favorable conditions in exports,” the Korea Development [...]
SEOUL, Oct. 9 (Korea Bizwire) — South Korea’s peak electricity demand hit a new record in September, as the scorching summer heat extended into the autumn season, data showed Wednesday. The country’s peak power demand last month averaged 78 gigawatts, a 6 percent increase from a year earlier, according to the Korea Power Exchange, marking [...]
SEOUL, Jul. 12 (Korea Bizwire) — The economic recovery in South Korea has strengthened on solid exports, the manufacturing sector, and domestic demand showing signs of recovering, the finance ministry said Friday. The Ministry of Economy and Finance made the assessment in the Green Book, its monthly economic assessment report, while pointing to prolonged geopolitical [...]
SEOUL, May 31 (Korea Bizwire) — South Korea’s industrial output rebounded in April following a sharp fall a month earlier, but retail sales and investment dropped for the second consecutive month, data showed Friday. Industrial output rose 1.1 percent on-month in April, compared with a 2.1 percent fall a month earlier, according to the data [...]
SEOUL, Dec. 27 (Korea Bizwire) — Most South Korean manufacturers expect their business conditions to worsen in the first quarter of 2024 due to sluggish domestic demand and high material costs, a poll showed Wednesday. A survey of 2,156 manufacturing firms nationwide put the business sentiment index (BSI) at 83 for the January-March period, down [...]
SEOUL, Aug. 17 (Korea Bizwire) — Despite the sluggish growth of the global display market, OLED sales remained solid in the second quarter of this year, justifying the shift that Samsung Display Co. and LG Display Co., South Korea’s two largest display makers, have made towards OLED-centered ventures. Global OLED panel revenue grew by 12 [...]
SEOUL, Nov. 16 (Korea Bizwire) — After expanding explosively during the COVID-19 pandemic, the demand for food delivery apps is now declining steeply primarily due to the nation’s gradual shift to the “living with COVID-19″ policy. According to the big data analytics firm Mobile Index, the number of Android smartphone users for the nation’s leading [...]
SEOUL, Oct. 11 (Korea Bizwire) — Samsung Electronics Co. doesn’t look that happy despite higher than expected sales of its new foldable smartphones primarily because the company is having difficulty satisfying robust demand due to a global chip shortage. The combined domestic sales of the Galaxy Z Fold3 and the Galaxy Z Flip3 surpassed the [...]
SEOUL, July 14 (Korea Bizwire) — As more people are spending long hours indoors following the coronavirus outbreak, demand for massage chairs, massage guns, and acupressure massagers for home use is on the rise. E-Mart Inc., South Korea largest discount store chain, reported a 44 percent jump in massage chair sales for the first half [...]
SEOUL, July 2 (Korea Bizwire) — Demand for luxury goods continue to rise despite price hikes and the COVID-19 pandemic. Chanel, a high-end fashion house, has already raised prices in South Korea twice this year. The French luxury brand raised the price of the Classic Flap Bag Medium from 8.64 million won (US$7,600) to 9.71 [...]