SEOUL, Jan. 30 (Korea Bizwire) — South Korean steelmakers have launched talks with shipbuilders over prices of thick steel plates, which are mainly used for shipbuilding, people familiar with the matter said Saturday. POSCO, the country’s largest steelmaker, said it is pushing to raise prices of thick steel plates — a key material that accounts [...]
SEOUL, Feb. 21 (Korea Bizwire) — The price of popular dishes rose about 8 percent over a one-year period, the Korea Consumer Agency said Thursday. Posted on the agency’s price information site, the list of eight dishes measured between January of last and this year showed price increases for seven. “Gimbap,” a rice roll with [...]
SEOUL, Feb. 18 (Korea Bizwire) — The price of sugar rose 11 percent in January from a year earlier as the cost of widely consumed processed foods increased overall, the Korea Consumer Agency said Monday. A survey of 26 items in the measured basket of foods for the month showed price hikes for 18 and [...]
SEOUL, Dec. 14 (Korea Bizwire) — Some brand-name shoes were more expensive when ordered abroad compared to local retailers, while most South Koreans still think it’s cheaper to buy foreign products overseas than in South Korea. The Korea Consumer Agency (KCA) said on December 13 that 11 of 18 foreign brand shoes were cheaper in [...]
SEJONG, Sept. 19 (Korea Bizwire) — Sales of cigarettes in South Korea declined 1.1 percent in the first eight months of 2018 from a year earlier due to a government-led anti-smoking campaign and higher prices, data showed Wednesday. South Korean smokers purchased 2.31 billion 20-cigarette packs in the January-August period, compared with the previous year’s [...]
SEOUL, March 8 (Korea Bizwire) – After going under a seize and search for faking emissions results for some of its diesel models, Volkswagen once again pulled out their extreme discount plan in the Korean market. Industry watchers see Volkswagen’s move to be a desperate countermeasure against their dropping sales due to their tarnished brand image [...]
SEOUL, Feb.15 (Korea Bizwire) – From cheap convenience store coffee to 5,000 won beverages at popular coffee franchises, the domestic coffee market seems to be in chaos. Consumers are facing a vast range of products at different prices, and are coming away confused. Industry officials say that there are differences in roasting skills, but the [...]