SEOUL, May 2 (Korea Bizwire) — Finance Minister Choi Sang-mok vowed Thursday to stay vigilant on uncertainties regarding interest rate decisions by major economies and the Middle East crisis and to take bold market stabilization steps when necessary. Choi made the remarks during an emergency macroeconomic meeting meant to assess the Federal Reserve’s rate-setting meeting [...]
SEOUL, Sept. 4 (Korea Bizwire) — Not only is the domestic food and retail industry venturing into the production and sale of health functional foods, but the cosmetics sector is also making strides in this field. As the market expands, companies are placing significant emphasis on setting themselves apart to gain a competitive edge. Binggrae [...]
SEOUL, Aug. 22 (Korea Bizwire) – The hybrid and battery electric vehicle (EV) market in South Korea continues to expand rapidly. The domestic market for hybrid and battery electric cars (combined new acquisition prices) reached 6.12 trillion won (US$4.56 billion) and 2.27 trillion won, respectively, in the first half of this year, according to data [...]
SEOUL, Aug. 16 (Korea Bizwire) — As the demand for plant-based milk alternatives continues to surge within the food industry, there’s news that even the Coca Cola Beverage Co. is poised to make its entry into this market. The realm of alternative milk, crafted from plant-based ingredients such as oats, is witnessing heightened attention from [...]
SEOUL, July 17 (Korea Bizwire) — The consumption trend for affordable luxuries continues to expand among South Korea’s younger generation. This trend is particularly noticeable in the beauty sector, where consumers can express their values, preferences, and personality at an affordable price. Between January and June of this year, sales of luxury cosmetics at Lotte [...]
SEOUL, Dec. 26 (Korea Bizwire) — The South Korean musical industry, once hit directly by the pandemic, has gone beyond full recovery to a stage of robust growth. This year’s musical ticket sales had reached 398.4 billion won (US$311 million) as of Thursday, setting a new record after surpassing last year’s record of 234.6 billion [...]
SEOUL, Dec. 20 (Korea Bizwire) — The size of South Korea’s e-document market contracted slightly last year compared to a year ago, data showed Monday, as non-face-to-face documentation work increased sharply due to the COVID-19 pandemic. According to data released on Monday by the Ministry of Science and ICT and the Korea Internet & Security [...]
SEOUL, April 25 (Korea Bizwire) – The South Korean market of ice cream has seen growth in the last two years thanks to the spread of indoor activities in the pandemic era. The Korea Agro-Fisheries & Food Trade Corp. and industry tracker Euromonitor International reported that last year’s South Korean ice cream market was worth [...]
SEOUL, Feb. 21 (Korea Bizwire) — South Korea’s lubricant oil consumption has remained stagnant for three years straight due to a shift in the nation’s car-buying trend towards eco-friendly vehicles. According to the Korea Lubricating Oil Industry Association, the nation’s lubricants consumption reached 976,000 kiloliters last year, up 4.6 percent from a year ago, but [...]
SEOUL, Jan. 3 (Korea Bizwire) — A recent analysis shows that South Korea’s fermented milk market is expected to continue to grow, led by an increasing number of consumers taking interest in health. The Korea Agro-fisheries & Food Trade Corp. and industry tracker Euromonitor reported that the country’s fermented milk market reached an aggregate value [...]