SEOUL, Dec. 23 (Korea Bizwire) — The supply of artificial intelligence (AI) speakers in South Korea is expected to reach the 8-million unit mark in the new year as the devices gain popularity, a report by a local digital media lab said Sunday. According to the findings by KT Group affiliate Nasmedia Co., some 40 [...]
SEOUL, Dec. 12 (Korea Bizwire) — South Korea’s performing arts market, which includes musicals, plays and classical music, rebounded in 2017, apparently reflecting political and social stability after the presidential election in May that year, officials said Wednesday. According to data released by the Ministry of Culture, Sports and Tourism and the Korea Arts Management [...]
SEOUL, Oct. 28 (Korea Bizwire) — Import car sales that have been on a roll in recent years will probably fall short of this year’s initial sales target of 256,000 units, due to recalls and tightened exhaust regulations, industry sources said Sunday. The predictions came as total sales of foreign cars in the first nine [...]
SEOUL, Sept. 16 (Korea Bizwire) – Sales of city cars in South Korea decreased for the 20th month in a row as popularity for the small, practical vehicles decline amid rising demand for crossovers, industry data showed Sunday. The total number of mini urban haulers with an engine displacement of under 1,000 cc stood at [...]
SEOUL, Jun. 10 (Korea Bizwire) — South Korean companies are gradually moving to position themselves to enter North Korea’s largely untapped market once international sanctions are lifted, corporate sources here said Sunday. Several mid-tier companies have expressed interest in the North amid growing predictions that some sort of resolution can be reached on Pyongyang’s decadeslong [...]
SEOUL, Feb. 19 (Korea Bizwire) — South Korea’s domestic coffee market surpassed 10 trillion won in 2017 for the first time ever as demand for the brew continues to rise, market data showed Sunday. According to the Korea Customs Service (KCS), the country’s coffee market stood at 11.7 trillion won (US$10.8 billion), up more than [...]
PYEONGTAEK, Sept. 6 (Korea Bizwire) – Call it Song Francisco or Gyeonggi Province’s Itaewon. If you are fed up with hanging around Itaewon in Seoul, it can be an alternative as it’s handy for those living in the capital. Far smaller and calmer than the ever-bustling Itaewon district, but rustic and filled with exotic charm, [...]
SEJONG, Aug. 16 (Korea Bizwire) – The increasing popularity of “PB Products” like E-mart’s “No Brand” goods is lining the pockets of retailers, but doing little to benefit manufacturers according to a report published by the Korea Development Institute (KDI). PB products (Private Brand) are a variety of consumer goods that are produced by manufacturers [...]
SEOUL, Sept. 12 (Korea Bizwire) – Traditional markets in Korea may have lost ground to the fancy shopping malls, supermarkets, and department stores that have popped up in every corner of major city districts, but they’re still among the most popular go-to spots for holidays like Chuseok (Korean Thanksgiving) and Lunar New Year. Koreans are [...]
SEOUL/SEJONG, Jan. 28 (Korea Bizwire) – South Korea’s finance minister said Thursday that the government will make determined efforts to help companies make headway into untapped overseas markets like Iran, and revive exports as Asia’s fourth largest economy strives keep alive its economic momentum in the coming months. “We are facing challenges as uncertainties are [...]