SEOUL, Nov. 1 (Korea Bizwire) — Uniqlo, a Japanese fashion retailer targeted by the boycott movement in South Korea following Japan’s restrictions on exports to the country, has suffered a plunge in sales despite massive discount offers. Rep. Park Kwang-on reported based on a compilation of data collected from eight credit card companies in South [...]
SEOUL, Nov. 1 (Korea Bizwire) — The roaring K-pop boom in South Korea is reviving the fate of perishing CD music and other physical music record formats. Since the early 2000s, compact disc as a music distribution format has been increasingly replaced by other digital storage and distribution formats such as internet streaming. Reversing the [...]
SEOUL, Nov. 1 (Korea Bizwire) — Renault Samsung Motors Corp., the South Korean unit of Renault S.A. of France, said Friday it will launch six models in the domestic market next year to revive sales. Renault Samsung aims to sell over 100,000 vehicles in 2020 by launching three all-new models and three upgraded ones throughout [...]
SEOUL, Oct. 30 (Korea Bizwire) — Duty-free shops are shutting down as sales have plunged. Doosan Corp., the holding company of South Korean conglomerate Doosan Group, announced on Tuesday that it will shut down its duty-free shops located in Seoul’s Doosan Tower. This is the second time a duty-free store decided to withdraw from business [...]
SEOUL, Oct. 26 (Korea Bizwire) — Some 130,000 units of Apple Inc.’s new iPhone models are believed to have been set up on the first day of sales in South Korea, industry insiders said Saturday. Apple released its iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max in South Korea on Friday, targeting consumers [...]
SEOUL, Oct. 25 (Korea Bizwire) — South Korean convenience store chain GS25 decided to halt all sales of flavored liquid e-cigarettes on Thursday, putting JUUL Labs and other e-cigarette manufacturers at risk. It came as a surprise to the e-cigarette industry as the convenience store franchise made the decision unilaterally, without any prior discussions with [...]
SEOUL, Oct. 21 (Korea Bizwire) — BMW Group Korea said on Monday that it expects to sell over 10,000 MINI models in South Korea this year amid efforts to regain ground following a sales drop caused by some cars catching fire last year. The German carmaker is on track to sell more than 10,000 MINI [...]
SEOUL, Oct. 18 (Korea Bizwire) — SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Friday its net losses widened in the third quarter from a year earlier on weak sales. Net losses for the July-September quarter deepened to 107.9 billion won (US$92 million) from 18.2 billion won a [...]
SEJONG, Oct. 13 (Korea Bizwire) — In-flight duty-free sales rose between June and September this year, data showed Sunday, defying market expectations that they may decline after the opening of on-arrival duty-free shops. South Korea’s first on-arrival duty-free stores opened at Incheon International Airport in late May in a bid to reduce discomfort experienced by [...]
SEOUL, Oct. 11 (Korea Bizwire) — The sale of Woongjin Coway Co., South Korea’s largest home appliance rental service provider, has taken a turn after the country’s top mobile gaming company Netmarble Corp. made an unexpected bid, industry insiders said Friday. Netmarble and the U.S. private equity firm Bain Capital were the two final bidders [...]