SEOUL, May 25 (Korea Bizwire) — In contrast to the decline in the sales of baby formula due to a low fertility rate, the protein supplement market for adults is growing in South Korea. The size of the nation’s offline baby formula market has been on a downward trend, falling to 140.7 billion won (US$125 [...]
SEOUL, May 24 (Korea Bizwire) — With U.S. electric vehicle (EV) maker Tesla Inc.’s sales in South Korea dwindling, Mercedes-Benz, Porsche and other foreign carmakers are surging amidst growing competitiveness in the market for EVs. The Korea Automobile Importers and Distributors Association and Carisyou Data Lab reported a 2 percent increase in EV imports, reaching [...]
SEOUL, May 24 (Korea Bizwire) — Sales of interior design and home organization books have marked robust growth on the back of the prolonged ‘stay-at-home’ trend resulting from the ongoing COVID-19 pandemic. According to local online bookstore Yes 24, sales of the books that are classified as ‘interior design’ and ‘arrangement and storage’ in the [...]
SEOUL, May 12 (Korea Bizwire) — Hyundai Motor Co. sold more than 500,000 units of vehicles under its independent Genesis brand since its launch five years ago, the company said Wednesday. Hyundai sold 378,999 Genesis vehicles in the domestic market and 121,192 units overseas since November 2015, the company said in a statement. The Genesis [...]
SEOUL, May 10 (Korea Bizwire) — German carmakers BMW and Mercedes-Benz sold more vehicles in South Korea in April compared to local units of three foreign carmakers combined, an industry association said Sunday. The Korea Automobile Importers & Distributors Association reported that 8,430 vehicles made by Mercedes-Benz and 6,113 BMWs were newly registered last month, [...]
SEOUL, May 6 (Korea Bizwire) — Sales of imported vehicles in South Korea jumped 12 percent in April from a year earlier on robust sales of German cars, an industry association said Thursday. The number of newly registered foreign vehicles climbed to 25,578 units last month from 22,945 a year ago despite the COVID-19 pandemic, [...]
SEOUL, May 3 (Korea Bizwire) – South Korean carmakers’ sales jumped 77 percent last month from a year earlier driven by robust overseas demand for SUVs amid the extended COVID-19 pandemic, industry data showed Monday. The five carmakers — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. [...]
SEOUL, May 2 (Korea Bizwire) — South Korea’s homegrown craft beer has increasingly gained popularity over recent years, industry data showed Sunday, as local brewers offer a wide range of flavors at competitive prices. The local craft beer market was valued at 118 billion won (US$105.6 million) as of 2020, sharply up from 43.3 billion [...]
SEOUL, April 27 (Korea Bizwire) — The growing interest in hiking among young Koreans since the onset of the coronavirus pandemic has spurred a spike in demand for hiking boots among members of the MZ generation. Black Yak’s shoe sales for the first quarter of this year jumped by 91 percent compared to the same [...]
SEOUL, April 27 (Korea Bizwire) — Retail sales in South Korea jumped 18.5 percent in March from a year earlier on the back of seasonal promotions by offline stores, with local consumers also turning to “revenge shopping” amid the prolonged virus pandemic. The combined sales of 26 major offline and online retailers reached 13.1 trillion [...]