SEOUL, Aug. 12 (Korea Bizwire) – Recent seismic activity in Japan, coupled with warnings of a potential major earthquake, has begun to cast a shadow over South Korea’s robust tourism to its island neighbor. This unease, combined with the strengthening yen, is leading some in the travel industry to speculate that the boom in Japanese tourism, [...]
SEOUL, Jul. 5 (Korea Bizwire) – The widening interest rate gap between Japan and the United States has led to a “super weak yen” phenomenon, creating an unexpected hurdle for South Korea’s previously robust export sector. As the U.S. maintains high interest rates, the dollar continues to strengthen, but the yen’s value has fallen more sharply [...]
SEOUL, July 3 (Korea Bizwire) — The weak yen is encouraging more South Koreans to participate in foreign direct purchases from Japan. According to data from Statistics Korea, South Koreans spent 120.17 billion won (US$91.8 million) in the first quarter on direct purchases from Japan through online shopping, marking a 29.1 percent year-on-year increase or [...]
TOKYO, Dec. 23 (Korea Bizwire) — GMO Internet (https://www.gmo.jp/en/) holds an internal testing of blockchain, preparing for the launch of a Japanese yen-pegged stablecoin “GMO Japanese YEN (ticker symbol: GYEN; hereinafter, “GYEN”)” in the first half of 2020 outside of Japan, following receipt of all necessary regulatory approvals. GMO Internet’s development and planned launch of [...]
SEOUL, Sept. 4 (Korea Bizwire) — Hyundai Motor Co. and Kia Motors Corp., South Korea’s two biggest carmakers, saw their sales growth in Chile slow down this year due to the won’s strength, a state-run trade promotion agency said Monday. In the January-July period, Hyundai’s sales in the Latin American market grew 11 percent on-year to 17,276 [...]
SEOUL, March 25 (Korea Bizwire) — Due to the weakening euro and yen, Korean shoppers frequently using foreign online retailers are increasingly turning to German and Japanese online stores and away from previously popular American and Chinese options. According to overseas direct purchase agency Malltail, the number of purchases from German online retailers through the agency [...]
SEOUL, Nov. 6 (Korea Bizwire) – Thanks to the weak yen, the number of Korean tourists to Japan exploded in October, more than doubled, even almost tripled for certain travel agencies. According to Hana Tour, Korea’s largest travel agency, the number of Korean nationals traveling to Japan increased 121.5 percent during last October over the [...]