SEOUL, May 28 (Korea Bizwire) — Retail sales in South Korea rose 3.9 percent in April from a year earlier on the back of rising demand for online platforms as more people refrained from going outside amid the new coronavirus pandemic, data showed Thursday. The combined sales of 26 major offline and online retailers reached [...]
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 [...]
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 [...]
SEOUL, May 25 (Korea Bizwire) — Sales of imported commercial vehicles in South Korea sank 31 percent last month from a year earlier on an economic slowdown, an industry association said Monday. The number of newly registered imported commercial vehicles fell to 363 units in April from 526 a year ago, according to the Korea [...]
SEOUL, May 11 (Korea Bizwire) — U.S. carmaker Tesla Motors Inc. is ramping up its offensive in the South Korean market. The Ministry of Trade, Industry and Energy and Korea Automobile Manufacturers Association reported that Tesla sold 4,070 cars in South Korea between January and March of this year. Tesla first entered the South Korean [...]
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 [...]
SEOUL, May 7 (Korea Bizwire) — South Korea saw a consumption burst during the so-called ‘golden holiday’ spanning six days from the end of April to early May. Lotte Department Store, one of the country’s major department store chain operators, reported a 3.2 percent increase in sales during the holiday compared to the same period [...]
SEOUL, May 6 (Korea Bizwire) — South Korea’s car sales plunged 48 percent last month from a year earlier as the spreading coronavirus outbreak continued to affect vehicle production and sales, data showed on Wednesday. The country’s five carmakers — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong [...]
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 [...]
SEOUL, April 28 (Korea Bizwire) — South Korean duty-free stores saw their sales drop sharply in March due to the spread of the new coronavirus, industry data showed Tuesday. Combined sales of local duty-free shops shrank 1.3 percent on-month to 1.8 trillion won (US$1.5 billion) last month, according to the data from the Korea Duty [...]