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 [...]
SEOUL, May 19 (Korea Bizwire) — Demand for high-end home appliances is rising with Koreans continue to opt to stay indoors away from the coronavirus. South Korean online shopping site Auction sold 630 percent more four-door refrigerators and 165 percent more 86-inch televisions between May 1 and 16 compared to the same period last year. [...]
SEOUL, March 10 (Korea Bizwire) — In the midst of the rapid growth of the e-commerce market resulting from the COVID-19 pandemic, the demand for logistics warehouses that are needed for storing, loading, unloading and sorting cargo is growing at a healthy pace. The online real estate information provider Real Estate 114 analyzed the cases [...]
SEOUL, Jan. 21 (Korea Bizwire) — Local retail sales of processed rice products shot up nearly 11 percent in 2019 from a year earlier due to the growing demand from single-member households while more people opt for convenient meals, data showed Thursday. Retail sales of processed rice products, including ready-to-eat steamed rice, porridge, and noodles, [...]
SEOUL, July 20 (Korea Bizwire) — The status of developers continues to grow in South Korea’s information technology (IT) industry. Some IT firms are spinning off units as independent corporate entities, while others are moving offices to secure more developers. Along with the spread of non-face-to-face interaction (‘untact’) culture due to the outbreak of the [...]