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Home Meal Replacement Market Valued at 4.2 tln Won in 2019

Home Meal Replacement Market Valued at 4.2 tln Won in 2019

SEOUL, March 11 (Korea Bizwire) — South Korea’s home-meal replacement product market was estimated at 4.2 trillion won (US$3.68 billion) in 2019, data showed Thursday, with the sector expected to continue to grow down the road on the growing number of single-member households. The annual average growth of the segment was 16 percent since 2010, [...]

Service Robot Industry Continues to Grow

Service Robot Industry Continues to Grow

SEOUL, March 3 (Korea Bizwire) — A growing number of businesses worldwide are focusing their efforts to develop robots with artificial intelligence, giving a boost to related markets. The global market research agency Strategy Analytics estimated that the market for service robots will expand from US$31 billion last year to $122 billion by 2024. In [...]

Popularity of Online Art Auctions Soars

Popularity of Online Art Auctions Soars

SEOUL, Jan. 10 (Korea Bizwire) — The online art auction market has expanded despite a slump in the overall art market. The Korea Arts Management Service reported that a total of 26,668 artworks were presented at the 192 on-and-offline auctions hosted by eight local auction houses in 2019, 16,867 of which were sold. The success [...]

S. Korea World’s No. 2 Heated Tobacco Market in 2018

S. Korea World’s No. 2 Heated Tobacco Market in 2018

SEOUL, Jul. 9 (Korea Bizwire) – South Korea was the world’s No. 2 heated tobacco market last year, and its growth will gather pace down the road, an industry tracker said Tuesday. The size of South Korea’s heat-not-burn electronic cigarette market reached US$1.67 billion last year, rising sharply from $453 million tallied in 2017, according [...]