SEOUL, Apr. 29 (Korea Bizwire) — Retail sales in South Korea rose 10.9 percent on-year in March on the back of stronger demand for travel and entertainment services from online platforms, data showed Monday. The combined sales of 25 major offline and online retailers came to 15.8 trillion won (US$11.45 billion), compared with 14.2 trillion [...]
SEOUL, Apr. 22 (Korea Bizwire) — South Korea’s internet industry saw its revenue surpass 600 trillion won (US$435.5 billion) for the first time in 2022, data showed Monday. The total sales of the local internet industry reached 622.1 trillion won in 2022, up 16.6 percent from 533.7 billion won a year ago, according to data [...]
FAIRFAX, Va., Apr. 15 (Korea Bizwire) — Winners in the 18th annual Stevie® Awards for Sales & Customer Service, recognized as the world’s top customer service awards and sales awards, were unveiled on Friday night at a gala ceremony in Las Vegas, Nevada USA, attended by more than 400 executives from around the world. The complete [...]
SEOUL, Mar. 4 (Korea Bizwire) — South Korea’s industrial output inched up in January despite the marked fall in semiconductor production, data showed Monday. Industrial output gained 0.4 percent on-month last month, the third consecutive on-year increase, according to the data compiled by Statistics Korea. But the output in the overall mining manufacturing sector shed [...]
SEOUL, Feb. 29 (Korea Bizwire) — Imported car purchases among those in their 20s and 30s fell nearly 18 percent on-year in 2023 amid a slowdown of the economy and high interest rates, industry data showed Thursday. According to data from the Korea Automobile Importers & Distributors Association, the number of newly imported cars registered [...]
SEOUL, Dec. 15 (Korea Bizwire) – IKEA Korea, the South Korean branch of the world’s largest furniture brand, has faced a continued downturn in its performance, reversing the growth observed last year. After experiencing a sales decline for the first time since entering the Korean market, IKEA Korea also posted its first fiscal-year loss this year. [...]
SEOUL, Sept. 6, (Korea Bizwire) – The resurgence of city cars, a segment that has long been overlooked, is now gaining momentum. In August, three city car models ranked among the top 10 in domestic passenger vehicle registrations. This surge in popularity can be attributed to several factors, including higher vehicle prices, rising fuel costs, [...]
SEOUL, Sept. 6 (Korea Bizwire) – In the realm of imported automobiles, there has been a noticeable shift in consumer preferences. Interest in diesel sedans and sport utility vehicles (SUVs) is waning, while electric vehicles (EVs) are gaining significant popularity. In particular, the market for imported electric passenger cars saw a significant milestone in August this [...]
SEOUL, Aug. 29 (Korea Bizwire) — Retail sales in South Korea rose 5.9 percent on-year in July as more people enjoyed outdoor activities for summer vacation amid eased antivirus curbs, the industry ministry said Tuesday. The combined sales of 25 major offline and online retailers came to 14.73 trillion won (US$11.12 billion) last month, compared [...]
SEOUL, Aug. 10 (Korea Bizwire) — Nexon Co. dominates the South Korean gaming market in the second quarter, surpassing other major developers such as Netmarble Corp. and NCSOFT Corp. According to the financial reports of major listed game developers for the second quarter, Nexon was the sole company to exceed its operating profit from the [...]