SEOUL, Feb. 15 (Korea Bizwire) – In an era marked by high inflation, consumers are increasingly seeking value for their money, leading to a significant surge in sales for budget coffee franchises last year. According to NH Nonghyup Card, these affordable coffee chains, including Mega Coffee, Paik Dabang, Compose Coffee, and Mammoth Coffee, witnessed a 37% [...]
SEOUL, Feb. 5 (Korea Bizwire) – As consumers grapple with rising inflation and interest rates leading to a domestic slowdown, the recommerce market, involving the resale of used items and collectible goods like luxury and limited edition products, is gaining momentum. Estimates suggest that the domestic recommerce market has recently surpassed a value of 30 trillion [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korea’s inflation fell below 3 percent for the first time in six months in January, showing signs that inflationary pressure is easing, data showed Friday. But the prices could bounce back again to over 3 percent in the coming months due to rising global oil prices, Finance Minister [...]
SEOUL, Jan. 5 (Korea Bizwire) – The government will extend intensive policy support to bring inflation down below 3 percent in the first half of 2024 as prices are projected to ease slower than expected, the finance ministry said Friday. “Inflation is expected to moderate gradually to stay around 3 percent in the first half [...]
SEOUL, Dec. 29 (Korea Bizwire) — South Korea has continued to experience high inflationary pressure this year following the highest price growth in decades the previous year, but inflation in December ticked down for a second consecutive month in signs that price pressure is easing, data showed Friday. Consumer prices, a key gauge of inflation, [...]
SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s consumer sentiment snapped its four-month decline in December amid moderating inflation, a recovery in exports and hopes for an end in the Federal Reserve’s rate hikes, a central bank poll showed Wednesday. The composite consumer sentiment index stood at 99.5 in December, up from 97.2 the previous [...]
SEOUL, Nov. 23 (Korea Bizwire) — South Korea plans to continue efforts to tame inflation amid the annual “gimjang” season during which households make kimchi ahead of winter, the deputy finance minister said Thursday. The remark followed reports that this year’s average price of making kimchi with 20 cabbages is estimated at 191,000 won (US$147), [...]
SEOUL, Nov. 17 (Korea Bizwire) — The International Monetary Fund (IMF) recommended South Korea maintain a restrictive monetary policy to bring inflation under control, though the country is expected to reach its inflation target of 2 percent by the end of next year. The organization made the call in its report on the South Korean [...]
SEOUL, Nov. 9 (Korea Bizwire) — South Korea has launched a government-wide special scheme on the management of prices of key food and other items to bring inflation under control, the finance ministry said Thursday. Vice ministers of all government ministries are supposed to be in charge of monitoring prices of items concerned and implementing [...]
SEOUL, Nov. 6 (Korea Bizwire) — South Korea has launched task forces under several ministries to beef up the monitoring of prices of key food and other major items and to implement necessary measures swiftly as part of efforts to bring inflation under control, officials said Monday. The establishment of the entities, led by vice [...]