SEOUL, Jun. 24 (Korea Bizwire) — After years of struggle in the face of a decline in Chinese tourists and increased competition, South Korea’s duty-free operators are in search of a more stable and sustainable business portfolio — to reduce their reliance on Chinese visitors and generate decent profits. The country’s duty-free business has raked [...]
SEOUL, May 31 (Korea Bizwire) — Following a two-year absence, several Chinese TV series are scheduled to compete in an upcoming annual drama awards event in Seoul, a possible sign of a thaw in the suspended TV content exchange between the two countries, sources said Friday. China has recently voiced its intention to submit several [...]
SEOUL, May 20 (Korea Bizwire) — The landscape of the tourism industry has changed since the Terminal High Altitude Area Defense (THAAD) missile crisis in 2017 that put a damper on Chinese tourist visits to South Korea. According to the Korea Tourism Organization on Saturday, China still remains at the top of last year’s 15.35 [...]
SEOUL, Jan. 14 (Korea Bizwire) — Sales at South Korean duty-free stores continued to show solid growth, reaching their highest-ever figure in 2018, despite a drop in Chinese travelers following a diplomatic row over the deployment of an advanced U.S. missile defense system here, industry data showed Monday. According to the data from the Korea [...]
SEOUL, Oct. 1 (Korea Bizwire) — Dairy exports to China are recovering quickly this year after a steep dive in 2017 due to a diplomatic spat, industry officials said Monday. Maeil Dairies Co. is estimated to have increased its exports to China by 20 to 30 percent in the first six months of this year [...]
SEOUL, May 25 (Korea Bizwire) — South Korea’s cosmetics and tourism industries have yet to benefit much from China’s lifting of a ban on group tours to Seoul despite a recent gain in the number of Chinese visitors, sources said Friday. In March last year, China took a set of retaliatory measures against Seoul, including [...]
SEOUL, May 11 (Korea Bizwire) — South Korean retail giant Lotte said Friday it has decided to sell one of its discount store units in China to a local retailer in a major step toward withdrawing from the world’s second-largest economy. Lotte Shopping Holding Hong Kong Co. will sell 100 percent of its stake in [...]
SEOUL, May 4 (Korea Bizwire) — With food-related online purchases on the rise thanks to mobile delivery apps, the total volume for online shopping saw record-breaking sales in March totaling 9 trillion won. The first quarter figures for online shopping consumers from China appeared to be somewhat slower due to the lingering aftermath of the [...]
SEOUL, Apr. 24 (Korea Bizwire) — Hyundai Motor Co. has sold more sport-utility vehicles (SUVs) in China in the first quarter of this year, with such vehicles accounting for 40 percent all sales in the large market, auto industry data showed Tuesday. Hyundai sold 67,167 units of its four SUV models from January through March, [...]
SEOUL, Apr. 23 (Korea Bizwire) — The number of foreigners who visited South Korea rose 10.7 percent on-year in March, ending 12 straight months of decline, data showed Monday, as the government pushes to diversify the country’s tourist portfolio in the face of a plunge in the number of Chinese visitors. The total number of [...]