SEOUL, April 22 (Korea Bizwire) – In a reality singing competition television series on Fox, celebrities in extravagant costumes and face masks perform a cover of a famous song, while the audience and panelists who don’t know the identity of the singers vote for their favorite. This is the basic format of “The Masked Singer,” [...]
SEOUL, Feb. 21 (Korea Bizwire) — Overseas card spending by South Koreans fell for the first time in a decade in 2019 amid a slowdown in the number of outbound travelers and a weak local currency, central bank data showed Friday. South Korean people spent US$18.9 billion using cards abroad last year, down 1.7 percent [...]
SEOUL, Mar. 5 (Korea Bizwire) — As the trend of staying in a foreign city for a month to seek relaxation and experience the local life has spread, demand for ‘one month’ trips abroad has soared. When Interpark Tour analyzed customer data for those who stayed in foreign cities for 29 to 31 days last [...]
SEOUL, Dec. 11 (Korea Bizwire) — A growing number of South Koreans shopping at overseas online malls are picking Chinese sites, a tally from a credit card firm indicated Tuesday. Purchase records from Nov. 1-26, compiled by the big data center at Shinhan Card, showed a 9.8 percent increase from last year in the monetary [...]
SEOUL, Oct. 23 (Korea Bizwire) — More than 40,000 South Koreans fell prey to crime overseas in the 2013-2017 period, and the number of such cases has been rising annually, a lawmaker said Tuesday, citing a National Police Agency report. The report, submitted to Rep. Kim Young-woo of the main opposition Liberty Korea Party by [...]
SEOUL, Oct. 2 (Korea Bizwire) — Overseas resource development projects exceeding 100 billion won (US$89.96 million) will be put through rigorous pre-assessment, a step meant to avoid indiscriminate investment and financial losses, officials said Tuesday. Bills approved by the Cabinet stipulate that such high-cost projects by the Korea National Oil Corp. (KNOC), in which state [...]
SEOUL, Jul. 24 (Korea Bizwire) — A case against a former engineer who was punished for making a direct purchase of a medical equipment from overseas to help treat her young daughter suffering from diabetes was dropped by prosecutors. A new law is currently in the works to remove any legal ambiguity. Kim Kyung-jin, a [...]
SEOUL, Jul. 11 (Korea Bizwire) — South Korea’s No. 1 duty-free shop Lotte Duty Free is ramping up efforts to expand its presence in the global market in the face of fierce competition at home, industry sources said Wednesday. The duty-free chain, operated by Hotel Lotte Co., opened a new airport outlet in Nha Trang, [...]
SEOUL, May 30 (Korea Bizwire) — BTS has developed into a worldwide sensation after topping the Billboard 200 Chart, and companies are rushing in to take full commercial advantage of the Korean boyband’s success. International fans of BTS have been visiting domestic online shopping platforms while concerts showcasing the K-pop stars have been selling out [...]
SEOUL, May 30 (Korea Bizwire) — The number of South Korean food service firms in foreign countries rose 2.7 percent in 2017 from a year earlier, but their profitability deteriorated sharply due mainly to stiffer competition, a survey showed Wednesday. The survey released by the Korea Foodservice Industry Research Institute showed that 193 South Korean [...]