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Retail Shops Suffer as Cosmetics Industry Begins Transformation

Retail Shops Suffer as Cosmetics Industry Begins Transformation

SEOUL, Jan. 28 (Korea Bizwire) — Retail cosmetics shops that have been the drivers of the ‘K-Beauty’ industry for the past 15 years are facing a crisis, exposing their limitations. The cosmetics industry is undergoing a series of transformations due to decreased demand from China and a change in distribution structure resulting from stagnant domestic [...]

Number of Global ‘Hallyu’ Fans Soars Close to 90 Million: Report

Number of Global ‘Hallyu’ Fans Soars Close to 90 Million: Report

SEOUL, Jan. 10 (Korea Bizwire) — The number of dedicated global fans of “hallyu,” or the Korean Wave, is estimated to have surged to about 90 million at the end of last year, a government-affiliated foundation said Thursday. The Korea Foundation said in a report that there were 1,843 hallyu fan clubs in 113 countries [...]

Success of TWICE, Abolition of One-Man Control, Propel JYP’s Ascent to No.1 Entertainment Firm

Success of TWICE, Abolition of One-Man Control, Propel JYP’s Ascent to No.1 Entertainment Firm

SEOUL, Aug. 30 (Korea Bizwire) — JYP Entertainment, the home for top-rung girl band TWICE, beat its long-time rival SM Entertainment to emerge as the biggest entertainment firm by market capitalization for the first time in nearly two decades this week. Following steady growth since early this year, shares of JYP finished at 31,300 won [...]

Chinese Shops in Vietnam Milk Surging Popularity of Korean Wave

Chinese Shops in Vietnam Milk Surging Popularity of Korean Wave

  Jun 30 (Korea Bizwire) – At first sight, one would think that they were in front of a “K-store” – a shop carrying Korean items. A quick peek inside, however, reveals the extent of the deception, the opportunistic façade unable to mask the reality of the wares being touted within – knockoffs of popular [...]

S. Korean Cosmetics Makers Hope for Rebound amid Beijing’s Move to Lift Sanctions

S. Korean Cosmetics Makers Hope for Rebound amid Beijing’s Move to Lift Sanctions

SEOUL, April 5 (Korea Bizwire) — South Korea’s cosmetics makers expect a rise in sales this year as China moves to lift economic measures implemented in retaliation over the deployment of a U.S. anti-missile defense system here, industry sources said Thursday. South Korea’s makeup industry have enjoyed robust growth in recent years helped by “hallyu,” [...]

More Baduk Players in Turkey Thanks to S. Korean Drama “Reply 1988”

More Baduk Players in Turkey Thanks to S. Korean Drama “Reply 1988”

SEOUL, Dec. 26 (Korea Bizwire) – Baduk, the Korean term for the Chinese board game “go”, is experiencing heightened popularity in Turkey, especially among female players.  This was evidenced by the 77-strong female turnout for a baduk tournament hosted at the Middle East Technical University from December 23 to 24. The competition was hosted with [...]