South Korean Consumers Embrace ‘Newmiliar’ Products in 2024, …
SEOUL, Dec. 5 (Korea Bizwire) – CJ OnStyle, a major South Korean online retailer, has identified “newmiliar” as the defining consumer trend of 2024, describing a preference for products that combine familiarity with innovative twists. The term “newmiliar,” a portmanteau of “new” and “familiar,” emerged from the company’s analysis of sales data across its most popular 180 ...
Rosé and Bruno Mars’ ‘APT.’ Goes Viral, Tops Global Charts
SEOUL, Oct. 25 (Korea Bizwire) – A Korean drinking game-inspired collaboration between BLACKPINK’s Rosé and pop star Bruno Mars has become a global sensation, with their new single “APT.” reaching significant milestones in record time.
Lotte Group to Sell Car Rental Arm for $1.12 Billion Amid Liquidity ...
SEOUL, Dec. 7 (Korea Bizwire) – South Korea’s retail conglomerate Lotte Group said Friday it has picked a Hong Kong-based private equity fund for talks to sell its car rental arm for 1.6 trillion won (US$1.12 billion), marking its first major deal amid concerns over a potential liquidity crisis. Under the agreement, Lotte Group has selected Affinity Equity Partners as the preferred bidder ...
Economic Policy in 2025 to Focus on 'Stable Management' amid …
SEOUL, Jan. 2 (Korea Bizwire) — South Korea’s economy is forecast to expand 1.8 percent this year, the government said Thursday, emphasizing “stable management” as its primary policy focus amid unprecedented levels of uncertainty. The latest projection for Asia’s fourth-largest economy falls below the Bank of Korea’s forecast of 1.9 percent and the estimates of …
Korean Series Champions Tigers Sign Ex-MLB Slugger Patrick …
SEOUL, Dec. 26 (Korea Bizwire) — The 2024 South Korean baseball champions Kia Tigers finalized their signing of former major league slugger Patrick Wisdom on Thursday. The Tigers said Wisdom, a three-time 20-homer man for the Chicago Cubs, signed a one-year deal for US$1 million, the maximum amount for all first-year foreign players in …
One Foreign Player Spot Left in KBO after Dinos Sign Ex-MLB …
SEOUL, Dec. 19 (Korea Bizwire) — All but one spot have been filled for foreign players in the Korea Baseball Organization (KBO) for 2025, following the NC Dinos’ signing of former major league pitcher Logan Allen this week. The Dinos announced Wednesday that Allen, 27, had signed a one-year deal worth up to US$1 million — $560,000 in salary, $140,000 in a signing bonus and up to $300,000 ...
‘Squid Game’ Amasses 480 Mln Viewing Hours, Dominates Netflix …
SEOUL, Jan. 2 (Korea Bizwire) — “Squid Game” Season 2 became the most-watched show on Netflix during its release week, the streaming giant has said. According to Netflix’s Global Top 10 rankings for the week ending Sunday, the South Korean series accumulated over 480 …
South Korea Seeks Global Business Support Amid Political Turmoil
SEOUL, Dec. 25 (Korea Bizwire) – South Korea’s main business lobby said Wednesday it has sent letters calling for support for the Korean economy from its 33 global counterparts amid the political turmoil following President Yoon Suk Yeol’s botched martial law declaration this month. The Federation of Korean Industries (FKI) said it sent the letters to chairmen of the 33 business ...
Detention Warrant Issued for Yoon over Martial Law, 1st Issuance …
SEOUL, Dec. 31 (Korea Bizwire) — A Seoul court on Tuesday issued a warrant to detain impeached President Yoon Suk Yeol over his botched martial law imposition, making him the first sitting South Korean president to face arrest. The Seoul Western District Court approved a request from the Corruption Investigation Office for High-ranking Officials (CIO) to issue the warrant against Yoon on ...
South Korean Markets Lost Over $250 Trillion Won in Value This …
SEOUL, Dec. 30 (Korea Bizwire) — South Korean stock markets have shed more than 250 trillion won in market capitalization this year, standing in stark contrast to the record-setting rallies seen in other major global markets. According to the Korea Exchange, as of December 27, the main KOSPI market’s capitalization stood at 1,966.96 trillion won, while the tech-heavy KOSDAQ reached 333.87 ...