SEOUL, March 2 (Korea Bizwire) — South Korea’s car sales fell 11 percent last month from a year earlier as supply disruptions caused by the coronavirus outbreak resulted in reduced production. The country’s five carmakers — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. — sold [...]
SEOUL, Feb. 28 (Korea Bizwire) — Sales of Samsung Electronics Co.’s Galaxy S20 smartphones were 20 percent lower than the previous model on their first day amid the spreading coronavirus outbreak, the company said Friday. The Galaxy S20 series smartphones went on sale on Thursday, and their first-day sales volume came to about 80 percent [...]
SEOUL, Feb. 5 (Korea Bizwire) — Sales of imported cars in South Korea fell 3.1 percent in January from a year earlier due to lower demand for Japanese brands amid trade tensions between Seoul and Tokyo, an industry association said Wednesday. The number of newly registered foreign vehicles fell to 17,640 units last month from [...]
SEOUL, Feb. 4 (Korea Bizwire) — Sales at South Korean duty-free stores hit a new annual high of over 24 trillion won last year, industry data showed Tuesday, mainly on the back of more foreign customers, mainly Chinese visitors. The combined sales of local duty-free shops reached 24.86 trillion won (US$20.87 billion) in 2019, up [...]
SEOUL, Jan. 31 (Korea Bizwire) — The confectionery industry is being threatened by the decreasing population of toddlers and teens, major consumers of confectionery goods, as the birth rate continues to fall in South Korea. The Korea Agro-Fisheries & Food Trade Corporation reported that confectionery production began to fall after reaching a peak in 2015 [...]
SEOUL, Jan. 30 (Korea Bizwire) — Hyundai Motor Group’s three key affiliates posted stellar performance last year with their operating profit jumping 44 percent on a weak won and robust sales of sport-utility vehicle models. For the whole of 2019, Hyundai Motor Co., Kia Motors Corp. and auto parts maker Hyundai Mobis Co. posted a [...]
SEOUL, Jan. 29 (Korea Bizwire) — South Korean general insurance companies are suffering from slowing growth and losses. The Korea Insurance Development Institute reported that total premium income among local general insurance companies in 2018 was 89.8 trillion won ($76.1 billion), up by only 3.4 percent from the previous year. The growth rate of the [...]
SEOUL, Jan. 29 (Korea Bizwire) — Sales of Danish beer Carlsberg have soared in South Korea, a recent report showed. According to Golden Blue, sales of Carlsberg beer rose 86 percent last year from 2018. Golden Blue, a homegrown whiskey maker that imports and sells Carlsberg beer, previously entered the local market by signing a [...]
Amsterdam, the Netherlands, Jan. 28 (Korea Bizwire) - Fourth-quarter highlights Sales amounted to EUR 6 billion, with 3% comparable sales growth Comparable order intake increased 3% Income from continuing operations was EUR 550 million, compared to EUR 723 million in Q4 2018 Adjusted EBITA margin improved by 50 basis points to 17.9% of sales, compared to [...]
SEJONG, Jan. 22 (Korea Bizwire) — Sales of cigarettes in South Korea fell 0.7 percent in 2019 from a year earlier due to the government-led anti-smoking campaign and higher prices, data showed Wednesday. Smokers purchased 3.45 billion 20-cigarette packs last year, compared with the previous year’s 3.47 billion packs, according to data compiled by the [...]