SEOUL, Dec. 24 (Korea Bizwire) – The South Korean government is throwing its weight behind the sale of aftermarket auto parts, with plans to provide cash back rewards. The Financial Supervisory Service (FSS), the General Insurance Association of Korea, and the Korea Insurance Development Institute (KIDI) said on Monday a special policy will come into [...]
SEOUL, May 2 (Korea Bizwire) – Sales numbers of vehicles produced overseas and sold here by local manufacturers shrank greatly in the first quarter of the year from a year earlier, data showed Thursday, apparently due to advances by local competitors. Sales of the so-called OEM cars came to 3,171 units in the January-March period, [...]
SEOUL, Sept. 23 (Korea Bizwire) – South Korea’s small-scale cosmetics firms are targeting niche markets by launching made-to-order manufacturing for other firms, a way of expanding their businesses without the cost of having to develop their own brands and marketing them, industry officials said Friday. K-beauty has caught on globally, allowing these companies to gain [...]
SEOUL, July 11 (Korea Bizwire) – The Volkswagen scandal has withered the general reputation of German automakers in Korea. Nonetheless, domestic demand for imported vehicles continues to rise. Surprisingly, Volkswagen’s Tiguan 2.0 TDI BlueMotion claimed the number one spot as the best-selling foreign car according to the KAIDA (Korea Automobile Importers and Distributions Association). The [...]
SAN RAMON, Calif., Dec. 8 (Korea Bizwire) — Further evidence of its international reach and adoption, MoCA® has recently added four new OEMs with headquarters and operations in Africa and Asia. More than 40 percent of membership in the Alliance is by companies outside the U.S, with 21 of 51 total members of international origin. [...]
SEOUL, June 27 (Korea Bizwire) – A study shows that nine out of ten foreign consumers who have purchased Korean goods directly online instead of via importers or local retailers, have intent to repurchase. However, it also revealed many of them have experienced inconveniences in the purchasing process. The Korea International Trade Association (KITA) has conducted [...]