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Luxury Market Enjoys Boom Despite COVID-19 Economic Recession

Luxury Market Enjoys Boom Despite COVID-19 Economic Recession

SEOUL, Oct. 19 (Korea Bizwire) — Despite the prolonged economic recession resulting from the outbreak of the COVID-19 pandemic, sales of luxury items have marked a sharp increase. According to the Ministry of Trade, Industry and Energy, sales of luxury items at the nation’s major department stores were up 9.2 percent year on year in [...]

Good Value ‘Ugly Fruits’ Popular Amid Economic Woes

Good Value ‘Ugly Fruits’ Popular Amid Economic Woes

SEOUL, Aug. 24 (Korea Bizwire) — As the long-term economic slump continues in South Korea, price-competitive fruits that might not meet conventional beauty standards are proving popular among South Korean consumers. Sales of ‘ugly’ fruits jumped more than fivefold between 2010 and 2016, the Rural Development Administration (RDA) announced on Thursday after analyzing household accounts [...]