SEOUL, Jun. 19 (Korea Bizwire) — CJ Group companies are planning to build two massive cultural facilities themed after “hallyu,” or the Korean Wave of popular culture, just northwest of Seoul, company officials said Wednesday. CJ ENM, an entertainment and mass media giant owned by CJ Group, has agreed to build the cultural facilities covering [...]
SEOUL, May 9 (Korea Bizwire) — The South Korean government held a meeting on Wednesday to address foreign companies jumping on the Korean Wave bandwagon. Many foreign companies are creating fake ‘South Korean’ brands to take advantage of the Korean Wave led by BTS and K-dramas. The government will begin monitoring foreign media and social [...]
SEOUL, Feb. 2 (Korea Bizwire) — The South Korean children’s song “Baby Shark” made history as part of the Korean Wave, or “hallyu,” by charting on Billboard’s most competitive Hot 100 list as the first non-pop Korean song. For the week of Feb. 2, “Baby Shark” came in 36th place on the Hot 100, stepping [...]
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 [...]
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 [...]
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 [...]
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 [...]
SEOUL, April 10 (Korea Bizwire) — Media outlets of the United Arab Emirates have offered extensive coverage of a recent K-pop gala concert thrown by SM Entertainment, South Korea’s largest entertainment agency, last week in Dubai. The concert, “SM Town Live World Tour VI in Dubai,” was held at the Autism Rocks Arena in Dubai [...]
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,” [...]
SEOUL, March 13 (Korea Bizwire) — The Seoul Metropolitan Government said on March 12 that it is preparing to build prayer rooms for Muslims in a couple of the city’s major tourist areas, with the rooms expected to be available for use as early as this summer. The reason South Korea’s largest city is rolling [...]