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Tesla Leads Imported EV Sales in S. Korea

Tesla Leads Imported EV Sales in S. Korea

SEOUL, May 26 (Korea Bizwire) — While sales of imported cars, led by U.S. electric carmaker Tesla Motors Inc.’s Model 3, have jumped, Korean-made electric vehicles (EVs) are being sidelined. The Korea Automobile Manufacturers Association and Korea Automobile Importers & Distributors Association reported a 40.1 percent increase in EV sales between January and April compared [...]

Duty-free Shops Suffer Sharp Drop in April Sales amid Virus Outbreak

Duty-free Shops Suffer Sharp Drop in April Sales amid Virus Outbreak

SEOUL, May 25 (Korea Bizwire) — South Korean duty-free stores saw their sales drop sharply below the 1 trillion-won (US$804 million) mark in April, feeling the pinch of the fallout from the new coronavirus, industry data showed Tuesday. Combined sales of local duty-free shops shrank 9.2 percent on-month to 986.7 billion won last month, according [...]

Imported Auto Sales Up 26 pct in April amid Pandemic, Japanese Brands Continues to Struggle

Imported Auto Sales Up 26 pct in April amid Pandemic, Japanese Brands Continues to Struggle

SEOUL, May 7 (Korea Bizwire) — Sales of imported vehicles in South Korea rose 26 percent in April from a year earlier amid the pandemic, while Japanese brands still struggle with weaker demand following ongoing trade tension between Seoul and Tokyo, an industry association said Thursday. The number of newly registered foreign vehicles rose to [...]

Retail Sales Suffer Sharp Decline in March as Virus Hits Offline Stores

Retail Sales Suffer Sharp Decline in March as Virus Hits Offline Stores

SEOUL, April 28 (Korea Bizwire) — Retail sales in South Korea fell in March as people refrained from visiting offline stores amid the new coronavirus pandemic, data showed Tuesday. The combined sales of 26 major offline and online retailers reached 10.89 trillion won (US$8.87 billion) last month, down 3.3 percent from 11.26 trillion won a [...]