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“Geeks” Become Target Consumers for Retailers

“Geeks” Become Target Consumers for Retailers

SEOUL, April 4 (Korea Bizwire) – Geeks or otaku, a Japanese term for describing people with obsessive interests in particular fields, have emerged as major consumer groups in South Korea amid the prolonged economic slump, more likely to open up their wallets for their hobbies and passions.  The retail industry has seen double-digit sales growth thanks [...]

30-Something “Kidults” Lead Online Auction Market

30-Something “Kidults” Lead Online Auction Market

SEOUL, Feb. 27 (Korea Bizwire) – While auctions have become more accessible to the general public with their growing popularity online, men in their 30s have emerged as big spenders driving the growth of Korea’s online auction market.  According to the latest data from Seoul Auction Blue, a local online auction firm, 30-something men currently [...]

Mattel Acquires Majority Stake in Korea’s Leading Toymaker

Mattel Acquires Majority Stake in Korea’s Leading Toymaker

SEOUL, Oct. 11 (Korea Bizwire) – Sonokong, one of Korea’s oldest toymakers, has sold a majority stake in its operations to Mattel, an American toy manufacturer best known for its Barbie dolls.  Sonokong Chairman Choi Sin-gyu sold 11.99 percent of his shares to a Mattel affiliate, Mattel Marketing Holdings, for 13.9 billion won ($12.9 million), [...]

Adults Dominate the Korean Toy Market

Adults Dominate the Korean Toy Market

DAEJEON, Aug. 23 (Korea Bizwire) – Watching a grown man or woman playing with toys still isn’t a common sight, but if recent trends continue, it might soon well be.  The so-called ‘kidult’ (kid + adult) market is rapidly expanding in Korea. With a current value of 700 billion won ($610 million), the market is [...]

More Male Customers Purchase Toys: Data

More Male Customers Purchase Toys: Data

SEOUL, Aug. 8 (Korea Bizwire) – The number of males purchasing indoor toys in 2016 rose more than 40 percent from a year ago, industry data showed Monday, suggesting that more fathers are choosing to play with their children at home.  According to the country’s largest open market website Gmarket, male customers buying indoor toys, [...]

Growing Usage of Adultescent Toys for ‘Fun’ Marketing Strategy

Growing Usage of Adultescent Toys for ‘Fun’ Marketing Strategy

SEOUL, July 19 (Korea Bizwire) – Kidult or adultescent – newly coined portmanteaus that refer to adults who are interested in culture generally targeted to younger youths – have become popular marketing strategies for many retail industries. Food manufacturing companies are seeing the most benefit from targeting those with young minds. Italian confectionery company Ferrero’s Kinder [...]

Latest Auction for Collectible Toys Proves Popularity of ‘Kidult’ Items in Korea

Latest Auction for Collectible Toys Proves Popularity of ‘Kidult’ Items in Korea

SEOUL, July 1 (Korea Bizwire) – ‘Kidult’ is a newly-coined term that combines ‘kid’ and ‘adult’, used to refer to adults that pursue memories of their childhood, and the kidult market has established itself as a niche culture in Korea in recent years.  A recent auction event for collectible toys organized by Seoul Auction was [...]

Endocrine Disruptors Found in Electric Vehicles for Kids

Endocrine Disruptors Found in Electric Vehicles for Kids

SEOUL, May 3 (Korea Bizwire) — Phthalate plasticizer, which can hinder human endocrine systems, has been discovered in toy electric vehicles for children.  The Korea Consumer Agency (KCA) conducted an investigation into 12 different models of electric vehicles in the market, and found standard-exceeding levels of phthalate plasticizer in four of them. The four models were [...]