SEOUL, Nov. 10 (Korea Bizwire) – The slump in domestic consumption, fueled by high prices and interest rates, is worsening. According to third-quarter corporate results, major department stores in Korea—Lotte, Shinsegae, and Hyundai—have experienced a decline in sales compared to last year. Additionally, the growth of the convenience store industry, resilient during the COVID-19 pandemic, is [...]
SEOUL, Jul. 20 (Korea Bizwire) — SK Group will take steps to boost domestic consumption, including encouraging its employees to take long vacations and facilitate growth of subcontractors, corporate sources said Thursday. CEOs of the group’s key subsidiaries met in Seoul on Tuesday where they discussed enhancing work effectiveness and contributing to spurring local demand, [...]
SEOUL, Feb. 23 (Korea Bizwire) – The South Korean government announced Thursday that it plans to designate one Friday a month as a “Day with Family,” on which employees will get to go home earlier from work, as part of its recent efforts to boost domestic consumption. However, considering that participation in the plan will [...]