South Korean consumers exhibited recessionary spending behavior in March, cutting expenditures across nearly all sectors, except healthcare and education.
Oera is the luxury skincare brand of Handsome, a cosmetics unit of Hyundai Department Store South Korea’s beauty industry is mounting a powerful global push, defying trade pressures and economic uncertainties with a surge in exports that has captured the attention of consumers from Beijin
Beauty of Joseon is a mid-sized Korean cosmetics brand South Korea’s beauty industry is showing signs of recovery in China, with exports rebounding after four months of decline.The turnaround follows aggressive economic stimulus measures by the Chinese government, which have helped revive
BTS concert in Busan, South Korea in October 2022 (Courtesy of Yonhap) Exports of Korean popular music, or K-pop, have seen a significant surge in recent months, driven by increasing demand from China and Japan, according to recent industry data.With rising exports and strong fandoms in key Asi
(File photo) South Korea’s top luxury goods e-commerce platform Balaan Co. said on Monday it has filed for corporate rehabilitation with a Seoul court as the cash-strapped startup has been hard hit by the rapidly cooling fever for upscale fashion brands in the country.Balaan is seeking to
Luxury brand shop floor in Shinsegae Department Store in Jung-gu, Seoul (Courtesy of Yonhap) Until recently, it was not unusual to see people waiting in a long line in front of foreign haute couture brands’ stores early in the morning in South Korea, but that is not an ordinary scen
Empty shopping street (Courtesy of News1 Korea) South Korea’s factory production decreased in the first month of this year due to a manufacturing slowdown, while private consumption and business investment also contracted, stoking concerns about the country’s economic downturn
Naver logo (Courtesy of News1) South Korea’s major e-commerce platforms, including Naver Shopping, are showing signs of slowing growth amid the rise of Chinese platform giants and fierce competition with domestic online retailers handling specialized items.Industry data showed on Monday t
South Korea’s leading alternative data service provider Hankyung Aicel Inc. is poised to transform companies' and investors’ business and investment decision-making processes with its unique value-added information and actionable insights.The Korea Economic Daily, South Korea&rsquo
Empty shops on Seoul street wait for new tenants (Courtesy News1 Korea) South Korea’s economy expanded 2.0% last year, falling short of the central bank’s forecast on weaker-than-expected growth in the fourth quarter amid dwindling private consumption further subdued by the co
Containers at a port in Incheon (Courtesy of Yonhap) Global credit rating agencies are warning of looming downward pressure on South Korea’s sovereign credit rating about a month after Asia’s fourth-largest economy was abruptly marred by political chaos following its president&rsquo
Elderly men at Tapgol Park in central Seoul One in five South Koreans is now 65 years old or older as the Asian country grapples with the demographic challenge of a rapidly aging population and the world’s lowest birthrate.The Ministry of the Interior and Safety said on Tuesday that the c
With the increase in international travel during the summer, overseas card spending by South Korean residents reached a record high in the third quarter (July–September).According to the Card Spending by South Korean Residents Abroad in Q3 report released by the Bank of Korea (BOK) on Tu