SEOUL, May 5 (Korea Bizwire) — Consumer prices for hamburgers in April marked the highest growth in 19 years as franchise chains raised their burger prices due to soaring raw material and logistical costs, data showed Thursday. According to data from Statistics Korea, hamburger prices rose by 17.1 percent last month compared to a year [...]
SEOUL, Sept. 23 (Korea Bizwire) — DRAM prices are estimated to post a quarterly decline of 13-18 percent in the fourth quarter, steeper than the previous quarter, a report said Friday, as consumer demand for electronic devices remains stagnant and macroeconomic conditions aggravated. Research firm TrendForce said rising inflation has significantly weakened the appetite for [...]
SEOUL, July 18 (Korea Bizwire) — Consumers struggling with surging prices are increasingly limiting their purchases of products other than essential goods like food. The Ministry of Trade, Industry and Energy reported that last month’s offline retailer sales went up by 10.1 percent, while sales in the home appliances and culture sectors dropped by 9.7 [...]
SEOUL, June 13 (Korea Bizwire) — With soaring consumer prices, the price of fried chicken jumped the highest this year. According to the data from the Korean Statistical Information Service, among 39 types of outdoor food, fried chicken had the highest surge in price at 6.6 percent. All other outdoor foods were also more expensive [...]
SEOUL, June 6 (Korea Bizwire) — The rising cost of driving a car, driven primarily by higher gasoline prices, is frustrating drivers. Among 12 types of expenditure in May under the consumer price index, transportation costs had jumped the most, by 14.5 percent, according to the data compiled by Statistics Korea. Transportation costs include transportation [...]
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 [...]