SEOUL, Oct. 3 (Korea Bizwire) – Insider stock ownership at South Korea’s family-run conglomerates rose in 2023 from a year earlier, data showed Tuesday, as more founding members sought to tighten their grip on management. The insider stock ownership rate of 72 conglomerates that have group owners reached 61.2 percent this year, up 1.3 percentage [...]
SEOUL, Oct. 3 (Korea Bizwire) –The market for online e-coupon services, which provide gift certificates in the form of barcodes, is experiencing rapid growth. This surge can be attributed to the sustained popularity of non-face-to-face gifting practices that emerged during and after the COVID-19 pandemic. The online shopping industry anticipates that the transaction value of [...]
SEOUL, Sept. 29 (Korea Bizwire) – South Korea’s imports of whiskey are anticipated to set a fresh high this year as the combined amount of inbound shipments soared 40 percent on-year through August, data showed Friday. Imports of whiskey products came to 22,799 tons over the January-August period, jumping from 16,267 tons tallied in the [...]
SEOUL, Sept. 10 (Korea Bizwire) — South Korean construction companies’ overseas orders increased 20 percent in the January-August period from a year earlier to exceed US$20 billion, industry data showed Sunday. Local builders obtained $21.9 billion worth of overseas orders between January and August, up from $18.3 billion worth of deals in the same period [...]
SEOUL, April 29 (Korea Bizwire) — The rankings for sales of imported cars have undergone significant changes this year, with Mercedes-Benz, BMW, Audi, and Volkswagen no longer dominating the market. In the first quarter of this year, Volvo has overtaken Volkswagen to claim the fourth spot, while new players such as Lexus and Porsche are [...]
SEOUL, April 17 (Korea Bizwire) — Hyundai Motor Group sold over 100,000 electric vehicles (EVs) abroad in the first quarter of 2023. The company’s combined global EV sales during this period were 135,499 units, with domestic sales of 39,982 units and overseas sales of 104,517 units. Flagship EV models, such as the Hyundai Ioniq 5 [...]
SEOUL, Sept. 8 (Korea Bizwire) — Asset management firms in South Korea saw their combined net earnings plunge in the second quarter of this year due to massive investment losses amid sluggish financial markets, data showed Thursday. The combined net income of 380 firms came to 170.1 billion won (US$122.6 million) in the April-June period, [...]
SEOUL, Sept. 5 (Korea Bizwire) – Sales of imported vehicles in South Korea rose 7.8 percent last month from a year earlier despite the extended chip shortage, an industry association said Monday. The number of newly registered foreign vehicles stood at 23,850 units last month, up from 22,116 units a year ago, the Korea Automobile [...]
SEOUL, Sept. 2 (Korea Bizwire) — Duty-free sales in South Korea sank nearly 15 percent to a six-month low in July due to decreased spending by foreigners, industry data showed Friday. Combined sales at duty-free shops in Asia’s fourth-largest economy stood at 1.25 trillion won (US$920 million)) in July, down 14.6 percent from a month [...]
SEOUL, Aug. 31 (Korea Bizwire) — After narrowing during the COVID-19 pandemic, the wage gap between employees of large companies and small and medium-sized enterprises (SMEs) is showing signs of expanding again due to the rapid recovery of large companies’ wage growth rate. The wage level of SMEs in proportion to that of large companies [...]