• S. Korea’s Samsung Electronics wins contract to manufacture 5G chips for Qualcomm
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    S. Korea’s Samsung Electronics wins contract to manufacture 5G chips for Qualcomm

    south korean chip maker Samsung Electronics will be producing a new column of 5g chips utilizing its most advanced chip making technology now the new deal is expected to boost Samsung’s market share against one of its biggest regional arrivals our Kim Hyun with more Samsung Electronics has won a contract to manufacture new 5g chips for quantum setting multiple sources Reuters reports that the South Korean tech giant will make some of call cups X 60 modem chips that connects smartphones to 5g wireless data networks the X 60 will be fabricated using Samsung’s new 5 nanometer process which can make chips smaller and more power efficient than previous…

  • [NEWS IN-DEPTH] Coronavirus Outbreak: Global Economic Impact
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    [NEWS IN-DEPTH] Coronavirus Outbreak: Global Economic Impact

    as authorities in China race to contain the spread of a new corona virus that’s killed hundreds investors are bracing for a global economic fallout that some analysts said could be more severe than the SARS outbreak in 2003 SARS which first emerged in China’s Guangdong province before spreading to other countries claimed around 800 lives worldwide and shaved point five to one percentage point off China’s growth in 2003 according to various estimates now for one and the Chinese economy much bigger today in 2020 than back in 2003 and as witnessed by South Korean automaker Hyundai Motors announcement of a temporary shutdown production lies during shortages of Chinese…

  • Two thirds of Samsung′s affiliates post lower than expected earnings   삼성그룹 계열사
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    Two thirds of Samsung′s affiliates post lower than expected earnings 삼성그룹 계열사

    Figures released by Samsung Group′s affiliates did not look good in the first quarter of this year …due to weak economic conditions. According to market researcher FnGuide on Monday, ten out of 15 divisions posted lower than expected earnings. Operating profits for Samsung′s textile firm, Cheil Industries′, came in at 5-point-5 million U.S. dollars, …86 percent lower than the forecasted 40 million. Shipbuilder Samsung Heavy Industries′ also posted earnings 75 percent below market predictions.

  • Korea′s Q1 online shopping sales jump 18 percent   모바일쇼핑 폭풍성장…올 1분기 거래 5조원 돌파
    Articles,  Blog

    Korea′s Q1 online shopping sales jump 18 percent 모바일쇼핑 폭풍성장…올 1분기 거래 5조원 돌파

    More and more Koreans are choosing to shop online. Statistics Korea said Wednesday that online shopping sales surged 18 percent in the first quarter from the previous year, with the total volume of transactions reaching approximately 11-point-6 billion U.S. dollars. Purchases made through smartphones, tablets and other mobile devices soared roughly 80 percent in the same period… to nearly 4-point-7 billion dollars. Online purchases of automobile products rose the most, with an increase of 42-percent from the year before, followed by cosmetics and food and beverages.

  • Transactions of online, mobile shopping reaches US$ 9 bil. in Oct.
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    Transactions of online, mobile shopping reaches US$ 9 bil. in Oct.

    The amount of online and mobile shopping transactions hit record highs in October surpassing the nine-billion U.S. dollar mark for the first time. A trend driven mainly by the development of digital payment systems… and more working days compared to the same period last year. Kim Ji-yeon breaks down the digits for us. Data released by Statistics Korea on Wednesday show the amount of online and mobile shopping transactions increased by 36-percent on year in October to register more than nine-billion U.S. dollars. Purchases in food and beverages rose the most by nearly 50-percent,… followed by cosmetics, winter apparel, electronics, and home appliances. The statistics agency attributed the surge of…

  • Total value of online shopping in March hits record-high
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    Total value of online shopping in March hits record-high

    The total value of online shopping in Korea has hit an all-time high, mainly on increased sales of electronics and home appliances, as well as food and beverages. Our Seo Eun-kyung has the details. The total value of online shopping in South Korea edged up to a new record high in March, reflecting the growing trend of people choosing to buy online. According to data released by Statistics Korea for March, South Koreans bought goods worth about 9-point-6 billion U.S dollars. That’s up 18-point-6 percent on-year and renews the all-time record high previously set in December. It was mainly driven by the rising demand for electronics and home appliances… According…

  • Mobile shopping takes up to 61.8% of online shopping
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    Mobile shopping takes up to 61.8% of online shopping

    These days almost everybody buys at least some stuff online. But now, data show most online shopping isn’t even done on a computer but on mobile devices. Some of the biggest gains in Korea have been seen in food delivery. People in other countries too are using their mobiles to buy Korean products. Hong Yoo has this report. Mobile shopping is now the most actively form of online shopping. Purchases made using the internet and mobile devices such as smartphones and tablet PCs represented 61.8% of all online shopping for the second quarter of 2018. That is the highest number ever since the government has begun collecting data of online…

  • Lotte Duty Free holding onto no. 3 spot in global travel retail
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    Lotte Duty Free holding onto no. 3 spot in global travel retail

    When it comes to retail sales in the travel sector, the world’s number three spot goes to Lotte Duty Free… for the second year in a row. According to the Moodie Davitt report from the UK,… Lotte’s sales last year… came behind those of Switzerland’s Dufry… and the Hong Kong-based D-F-S Group. And while it was able to stay ahead of France’s L-S Travel Retail,… it was a much closer call than the year before… with a difference of 22 million dollars. Lotte’s goal of achieving the top spot by the year 2020… is looking more remote,… not only because it lost its license to operate its World Tower location…

  • Most Koreans would give up daily indulgences in lieu of mobile internet use: stu
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    Most Koreans would give up daily indulgences in lieu of mobile internet use: stu

    Would you give up chocolate in lieu of surfing the internet on your mobile device? Nearly eight out of 10 Koreans say they would. A recent study says 77 percent of Koreans could live without reading the newspaper and around 60 percent without books…. instead of going online. Fast food, alcohol and coffee are indulgences many respondents felt less attached to than the internet. A third of respondents even said they′d give up cars and sex. With more applications, content and financial technology services, the mobile internet is expected to be an even more pervasive part of modern life.

  • Articles

    Korean companies boost online shopping services to attract new customers abroad

    A record number of Koreans bought products from foreign online shopping malls last year,… but now the tide is turning the other way. It’s a growing number of foreigners that are now flocking to Korean websites to do their shopping. Connie Kim has more the efforts being made by Korean companies to increase their customer base abroad. Vietnamese exchange student Lan Anh spends a lot of time shopping online for Korean products, from cosmetics and clothing to music, and being in Korea makes it relatively easy for her to place orders. But it’s also getting easier for those who aren’t in the country… to buy directly from Korean websites. “My…