luxury goods

Economy China bans export of Korean goods containing its rare earth metals to US

The Chinese government has warned South Korean companies of retributions for exporting any product containing its critical metals to US military con...

Fashion Hermès, Louis Vuitton, Chanel: Winners in S.Korea’s luxury market

South Korea’s luxury goods market is becoming increasingly polarized, with ultra-high-end brands such as Hermès, Louis Vuitton and Chan...

Mergers & Acquisitions Aekyung Industrial up for sale as group struggles to ease liquidity crunch

South Korea’s Aekyung Group has put its flagship subsidiary, Aekyung Industrial Co., up for sale as part of broader restructuring efforts to s...

E-commerce Luxury fashion platform Balaan files for court receivership amid slump

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 t...

Retail Koreans’ craving for luxury goods fades

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 ...

Economy S.Korea logs current account surplus in Jan; Growth slows

South Korea reported a current account surplus for 21 straight months in January but with a moderated gain largely due to a contraction in the goods...

E-commerce Korea’s beauty wholesaler to invest $10 mn in fashion platform Balaan

South Korea’s cosmetics wholesaler Silicon2 Co. is set to invest $10 million in financially troubled luxury fashion e-commerce platform operat...

Beauty & Cosmetics Korean cosmetics beat Chanel, Lancôme to rank top in US, Japan

South Korea’s cosmetics products, also known as K-beauty, have gained global renown, overtaking French brands such as Chanel and Lancôme...

Retail China's Miniso re-enters S.Korea

Miniso, a household goods store known as "the Chinese version of Daiso", has re-entered South Korea after three years.According to the retail indust...

E-commerce S.Korea's dawn delivery pioneer Kurly sells luxury goods to uplift profit

Kurly Inc., South Korea's dawn delivery service market pioneer, has invited a third-party online retailer to sell luxury goods on its platform to bo...

Korean startups Everyone deserves a good night’s sleep: Munice CEO

Insomnia is a common clinical phenomenon in modern societies profoundly affecting many people’s health and well-being, and South Korean startu...

Beauty & Cosmetics Shilla Duty Free opens Guerlain Ultimate Boutique at Incheon Airport

South Korea's Shilla Duty Free Shop announced on Tuesday it opened the Guerlain Ultimate Boutique, the first flagship store in a global airport, at ...

Korean food S.Korea’s premium kimchi war escalated by luxury hotels

Kimchi, Koreans’ staple food throughout millennia, has become a new, lucrative revenue source for the country’s luxury hotel chain opera...

Automobiles Genesis unveils GV80 Black, GV80 Coupe Black

Hyundai Motor Co.'s premium brand Genesis on Friday unveiled its large-size sport utility vehicles (SUVs) the Genesis GV80 and GV80 Coupe Black mode...

Automobiles Nexen Tire N'FERA Supreme surpasses 1 mn sales

South Korea’s Nexen Tire Corp. said on Sunday its premium high-performance all-season tire N’FERA Supreme has exceeded 1 million cumulat...

Beauty & Cosmetics Shinsegae Int'l opens Swiss Perfection pop-up in Tokyo

Shinsegae International, the cosmetics and fashion division of South Korea's Shinsegae Group, entered Japan's ultra-luxury beauty market by promot...

Companies Samsung, Ottogi unveil exclusive lifestyle TV goods

Samsung Electronics Co. announced on Friday that it collaborated with the domestic food company Ottogi to release limited edition goods called Samsu...

Electronics LG Elec opens LG Labs experience pop-up zone

LG Electronics Inc. announced on Wednesday that it will operate the "Wow Life's Good Lab" pop-up zone at Ground 220 in Yeongdeungpo-gu, Seoul, until...

Beauty & Cosmetics Handsome's luxury skincare brand Oera lures Chinese tourists

South Korean clothing manufacturer and retailer Handsome Corp., a Hyundai Department Store Co. unit, is enjoying growing popularity among Chinese vi...

Retail More luxury brands seek Korean market on sales surge

South Korea’s luxury goods market, estimated at around $7.1 billion, is experiencing a surge in demand led by affluent consumers in their 40s ...

Banking & Finance Mirae Asset's India Billion Consumer ETF surpasses $150 mn in net assets

South Korea's Mirae Asset Global Investments said on Thursday that the net assets of its TIGER India Billion Consumer ETF surpassed 200 billion wo...

Economy S.Korea’s consumer goods exports to top $100 bn in 2024: KOTRA

South Korea is projected to reap more than $100 billion from selling the country’s consumer goods overseas this year. Exports of such products...

E-commerce Shopee to ramp up Korean goods sales in Vietnam, Thailand

Shopee Pte. Ltd., an e-commerce operator, plans to quadruple sales of South Korean products in Vietnam and Thailand by 2025 aiming to expand its glo...

Travel & Leisure Jeju casinos, hotels bask in return of Chinese tourists; luxury shops fall

Following the pandemic, hotels and casinos are enjoying a renewed tourist boom with Chinese tourists returning to South Korea, particularly its top ...

Automobiles Hyundai Motor to produce Genesis cars in Kazakhstan

Hyundai Motor Group will produce Genesis models from its knock-down (KD) plant in Kazakhstan to bolster the South Korean auto giant’s luxury m...

Food & Beverage Shinsegae Dept. Store to sell luxury wines in Gangnam

South Korean retail giant Shinsegae Group is set to sell luxury wines with price tags up to tens of thousands of dollars in Seoul, as demand for pre...

Regulations South Korea to ban Chinese online products without KC certification

South Korea will ban products purchased online through overseas shopping platforms but without the KC certification amid growing concerns about prod...

Automobiles Genesis beats BMW to rival Mercedes in Korea's premium segment

In South Korea, esteemed German auto brands BMW and Mercedes-Benz have for years been the top two brands vying for the hearts of luxury car buyers, ...

Travel & Leisure Aman, Rosewood, Banyan, IHG rush to open luxury hotels in Seoul

Renowned global hospitality companies, including Aman, Rosewood and IHG Group, are rushing to South Korea to launch new five-star luxury hotels in...

Retail Used goods platform Gugus shines in slowing luxury market

Gugus, South Korea’s largest online retailer of secondhand luxury goods, posted double-digit growth in revenue and transactions in the first q...