SEOUL, Oct. 16 (Korea Bizwire) — South Korean duty-free shops are still smarting from China’s retaliation against Seoul over the deployment of a U.S. defense shield here with their profitability worsening despite rising sales, industry sources said Sunday. In mid-March, China banned the sale of group tours to Seoul in retaliation against the installation of [...]
SEOUL, Oct. 13 (Korea Bizwire) – Sales of Lotte Mart, the discount store chain of South Korean retail giant Lotte, in China dropped nearly 65 percent in the first eight months of this year in the face of Beijing’s retaliation over Seoul’s installation of a U.S. anti-missile system, data showed Friday. According to the data [...]
SEOUL, Oct. 9 (Korea Bizwire) — Exports of South Korean ramyun instant noodles, beer and dried laver to China have surged despite the diplomatic row over the deployment of an advanced anti-missile system here, government data showed Monday. According to data provided by the Ministry of Agriculture, Food Rural Affairs exports of the three products [...]
JEJU, Sept. 29 (Korea Bizwire) – The Jeju government is holding a contest to look for a new name to replace what has been known as Baojian Street for the last few years, in response to the declining number of Chinese tourists to the island. The latest move by the Jeju government comes amid a drastic [...]
SEOUL, Sept. 26 (Korea Bizwire) – A South Korean duty-free store will shut down this week amid a sharp drop in the number of Chinese tourists following a diplomatic row over the deployment of a U.S. missile defense system here, officials said Tuesday. Hana B&D, located at the Pyeongtaek port, some 70 kilometers south of [...]
SEOUL, Sept. 26 (Korea Bizwire) — South Korea’s consumer confidence fell for the second month in a row in September on the North Korea risk and Seoul’s row with Beijing over a missile defense system, a central bank poll showed Tuesday. The composite consumer sentiment index for September stood at 107.7, down 2.2 points from [...]
SEOUL, Sept. 26 (Korea Bizwire) – South Korea has exported 20 percent more cosmetics during the first half of this year compared to the same time last year, despite political tensions with China in recent years over the deployment of the controversial THAAD missile defense system on its soil. Data released on Monday by the Ministry [...]
SEOUL, Sept. 19 (Korea Bizwire) — The number of foreigners other than Chinese visiting South Korea grew in the first seven months of this year following the government’s efforts to diversify its tourist portfolio in the face of a sharp drop in the number of Chinese visitors, the country’s tourism promotion agency said Tuesday. According [...]
SEOUL, Sept. 19 (Korea Bizwire) — Sales of China’s Tsingtao beer have risen sharply in South Korea in recent months despite South Korean firms being hit by Beijing’s retaliation against Seoul for the deployment of a U.S. missile defense system on its soil, industry sources said Tuesday. Beijing insists the installation of the Terminal Altitude [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korea’s cultural content trade surplus, bolstered by the popularity of “hallyu,” or the Korean wave, has decreased significantly in the first six months of 2017 due to China’s economic sanctions over a missile defense system, government data showed Monday. China, South Korea’s biggest overseas market, has retaliated against [...]