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Heat Wave Boosts Retail Sales in S. Korea

Heat Wave Boosts Retail Sales in S. Korea

SEOUL, Aug. 1 (Korea Bizwire) — Sweltering heat affecting South Korea is boosting sales of local retailers as people flock to air-conditioned malls to get relief, industry sources said Wednesday, with the mercury expected to rise further in the coming days. According to retail giant Lotte, 4.22 million people visited Lotte World Mall in eastern [...]

800,000 Jobs to be Lost by 2030 Due to Fourth Industrial Revolution: Study

800,000 Jobs to be Lost by 2030 Due to Fourth Industrial Revolution: Study

SEOUL, March 8 (Korea Bizwire) – About 800,000 jobs are expected to be lost by 2030, in such areas as retail sales, driving, shipping and cleaning, due to technological advances driven by the fourth industrial revolution, a study showed Thursday. But the revolution is expected to create 920,000 more jobs in information and communication technology, engineering, healthcare, culture and arts, and other areas, the labor ministry study conducted jointly by state and civilian research institutes showed. The [...]

Ratio of Mobile Shopping to Retail Sales Hits New High in Q2

Ratio of Mobile Shopping to Retail Sales Hits New High in Q2

SEJONG, Aug. 17 (Korea Bizwire) — The ratio of mobile shopping to South Korea’s retail sales reached an all-time high in the second quarter of the year, government data showed Thursday, as more consumers are turning to smartphones and other mobile devices to buy goods. Purchases made through smartphones and tablets surged 41.5 percent on-year [...]

Retail Sales hit 4-month high In Sept. Thanks to Tax Cuts and Chuseok

Retail Sales hit 4-month high In Sept. Thanks to Tax Cuts and Chuseok

SEJONG, Nov. 2 (Korea Bizwire) – South Korea’s retail sales rose to a 4-month high in September as tax cuts and the Chuseok holiday propped up consumer spending, a government report showed Monday.  Retail sales topped 31.13 trillion won (US$27.28 billion) in September, up 4.1 percent from 29.9 trillion won a year earlier and the [...]