SEOUL, Nov. 11 (Korea Bizwire) — So-called ‘revenge consumption’, a sudden rush of consumption in the pandemic era, is resulting in soaring prices of luxury goods as demand continue to rise. Celine raised its prices three times this year after raising the price of some 10 luxury bags by an average of 8 percent on [...]
SEOUL, Nov. 7 (Korea Bizwire) — The prices of instant noodles in South Korea grew at the fastest pace in about 13 years last month, data showed Sunday, raising worries that such steep price hikes could increase inflationary pressures. According to the data by Statistics Korea, the price of instant noodles, or “ramyeon” in Korean, [...]
SEOUL, May 31 (Korea Bizwire) — South Korean steelmakers have raised automotive steel prices for the first time in four years, people familiar with the matter said Monday, a move that could boost their bottomlines. POSCO, the country’s largest steelmaker, reached a deal with Hyundai Motor Co. and Kia Corp., the country’s two biggest carmakers, [...]
SEOUL, April 30 (Korea Bizwire) – Memory chip prices are rising sharply amid a global semiconductor shortage, industry data showed Friday, boding well for South Korean chipmakers that dominate the sector. The contract price of 8-gigabit DDR4 DRAM, which is widely used in personal computers, reached US$3.80 for this month, up 26.67 percent from the [...]
SEOUL, March 22 (Korea Bizwire) — With the price of green onions on the rise, a growing number of households are choosing to take matters into their own hands and grow them at home. The state-run Korea Agro-Fisheries & Food Trade Corp. reported that the price of large green onions currently stands at 4,332 won [...]
SEOUL, July 2 (Korea Bizwire) — The French luxury brand Christian Dior began to raise prices of its major bags Thursday, industry sources said, as people’s demand for luxury goods has not been subdued even amid the pandemic-caused economic slump. Dior will increase the price tags of its major products, including Dior Lady bags, by [...]
SEOUL, May 25 (Korea Bizwire) — Prices of daily necessities in South Korea are going up following increased food and eating-out costs, adding to the country’s overall inflation, sources said Friday. According to the sources from the convenience store sector, tissue and battery makers have recently decided to jack up prices by up to 10 [...]
CHEONGJU, Feb. 23 (Korea Bizwire) - One year after a spike in cigarette prices, the fever to quit smoking has died down with a much fewer number of people joining anti-smoking clinics operated by public health centers, data showed Tuesday. According to the data, only 219 smokers registered with a clinic that helps people kick the [...]
SEOUL, Aug. 16 (Korea Bizwire) – Many Koreans admire China for its stern stance against high pricing policies by multinational companies doing business in China, according to an analysis on the local opinion regarding the news of the Chinese government’s penalty against Audi for violations of anti-monopoly laws. Upon hearing the news that the Chinese [...]