SEOUL, May 1 (Korea Bizwire) — South Korea’s leading carmakers Hyundai Motor Co. and Kia Corp. saw their combined exports of eco-friendly cars top 100,000 units in the first three months of this year, thanks to the brisk sales of all-electric and plug-in hybrid vehicles, data showed Sunday. In the January-March period this year, the [...]
SEOUL, April 28 (Korea Bizwire) — Retail sales in South Korea rose 7.1 percent in March from a year earlier on the back of growing demand for foodstuff, daily items and luxury goods amid the worst wave of the COVID-19 pandemic, the industry ministry said Thursday. The combined sales of 25 major offline and online [...]
SEOUL, April 26 (Korea Bizwire) — Labelless mineral water bottles, first released in 2020, are gradually expanding their presence in the water bottle market. According to Lotte Mart, a discount store chain operated by retailer Lotte Group, labelless products grabbed a share of 62 percent in total sales of water bottles. Labelless water bottles overtook [...]
SEOUL, April 25 (Korea Bizwire) – The South Korean market of ice cream has seen growth in the last two years thanks to the spread of indoor activities in the pandemic era. The Korea Agro-Fisheries & Food Trade Corp. and industry tracker Euromonitor International reported that last year’s South Korean ice cream market was worth [...]
SEOUL, April 22 (Korea Bizwire) — Overseas fashion and luxury brands including Louis Vuitton, Chanel, Hermes and others reported record earnings last year despite a series of price increases. Chanel Korea earned racked up 1.22 trillion won (US$987 million) in sales last year, up 31.6 percent from the previous year. The company earned 249 billion [...]
SEOUL, April 20 (Korea Bizwire) — Hybrid vehicles are enjoying rising popularity in both domestic and import car markets as Russia’s invasion of Ukraine has jacked up energy costs. According to Seoul-based Carisyou Data Lab, sales of hybrid cars reached 62,277 units in the first quarter of this year, up 172.1 percent from a year [...]
SEOUL, April 18 (Korea Bizwire) — Recreational vehicles (RVs) including SUVs are enjoying rising popularity in South Korea with their share of domestic car sales exceeding the 50 percent mark in the first quarter of this year for the first time in history. The nation’s five carmakers sold 308,298 units in the first quarter of [...]
SEOUL, April 12 (Korea Bizwire) — Food delivery app owner Woowa Brothers saw its sales nearly double in 2021 from a year earlier as the prolonged COVID-19 pandemic pushed up demand for food deliveries. Woowa Brothers posted 2.008 trillion won (US$1.62 billion) in sales on a consolidated basis last year from 1.033 trillion won a [...]
SEOUL, April 11 (Korea Bizwire) — Sales of hangover-cure drinks soar again as the operational hours of restaurants and bars are being extended and the number of private gatherings at night is increasing thanks to the government’s easing of social distancing rules, data showed Sunday. According to convenience store chain CU, sales of hangover drinks [...]
SEOUL, April 8 (Korea Bizwire) — Hyundai Motor Co. is leading Brazil’s automobile market, despite an overall slump in sales due to the COVID-19 pandemic. Brazil’s vehicle distribution federation Fenabrave reported that Hyundai sold 18,761 units of HB20 compact car, a model exclusive to the South American market, in the first quarter of this year [...]