SEOUL, Feb. 17 (Korea Bizwire) — The main channel for sales of life insurance products is insurance consultants while that for non-life insurance products is online, according to a report released by the Financial Services Commission. The Korea Insurance Research Institute and market research firm Nielsen Korea carried out a joint survey of 1,026 insured [...]
SEOUL, Feb. 16 (Korea Bizwire) — As more people are staying indoors following the coronavirus outbreak, projectors are gaining popularity as people spend longer hours streaming videos from Netflix and other popular media platforms. South Korea’s projector sales jumped 32 percent last year from a year earlier, according to Danawa, an online price comparison and [...]
SEOUL, Feb. 16 (Korea Bizwire) — A growing number of South Korean consumers are purchasing safes for use at home. Lotte Department Store reported a 26 percent increase in sales of home safes last month, compared to the same period last year. Hyundai Department Store and Shinsegae Department Store also reported 43.8 percent and 40.6 [...]
SEOUL, Feb. 14 (Korea Bizwire) — Convenience stores outperformed major department stores for the first time in terms of offline sales last year amid the country’s yearlong social distancing scheme, data showed Sunday. The combined sales of the top three convenience store chains — GS25, CU and 7-Eleven — took up 31 percent of the [...]
SEOUL, Feb. 14 (Korea Bizwire) — Hyundai Motor Co. and affiliate Kia Corp. aim for a 13 percent increase in U.S. sales this year by selling more SUV and high-end models. Hyundai and Kia are targeting to sell a combined 1,360,000 vehicles in the U.S. market in 2021, up from 1,208,374 units they sold a [...]
SEOUL, Feb. 10 (Korea Bizwire) — Samsung Electronics Co. said Wednesday its latest smartphone line, the Galaxy S21 series, posted 30 percent higher sales than its predecessor in South Korea as the tech giant strives to boost its handset sales. Samsung said sales of the Galaxy S21 family between Jan. 29 and Monday were 30 [...]
SEOUL, Feb. 9 (Korea Bizwire) — Perfume sales in South Korea have gone up despite the suspension of perfume testing at department stores. Last December, South Korean retailers suspended all practices of testing cosmetic samples at offline vendors in accordance with government regulations, which has led to a plunge in cosmetics sales at department stores. [...]
SEOUL, Feb. 3 (Korea Bizwire) — Sales of imported vehicles in South Korea jumped 27 percent in January from a year earlier on robust sales of German cars, an industry association said Wednesday. The number of newly registered foreign vehicles climbed to 22,321 units last month from 17,640 a year ago despite the COVID-19 pandemic, [...]
SEOUL, Feb. 1 (Korea Bizwire) — South Korean carmakers’ sales rose 4.8 percent last month from a year earlier helped by strong demand for sport utility vehicles (SUVs) amid the COVID-19 pandemic, industry data showed Monday. The five carmakers in South Korea — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Samsung Motors Corp. [...]
SEOUL, Feb. 1 (Korea Bizwire) — Sales at South Korean duty-free stores plunged nearly 38 percent on-year in 2020 due to the spread of the new coronavirus, industry data showed Monday. Combined sales of local duty-free shops totaled 15.5 trillion won (US$13.9 billion) last year, down 37.7 percent from a year earlier, according to the [...]