Hotels see growing demand of seasonal products

SEOUL, December 24 (AJP) - Major South Korean hotels are reporting significant sales growth from their private-brand (PB) Christmas teddy bears and related merchandise, as seasonal decorations drive experiential consumption. Kensington Hotel Yeouido reported a 20 percent year-on-year increase in PB product sales after displaying its signature bears and doorman bear keychains, with the latter requiring a second restock due to high demand. Hanwha Hotels & Resorts saw sales of

December 24, 2024

Consumer sentiment in South Korea worst since November 2022

SEOUL, December 24 (AJP) - Korea's consumer sentiment dropped sharply in December, marking its steepest decline since the 2008 global financial crisis amid political uncertainty concerning President Yoon Suk Yeol, the central bank said on Tuesday. The composite consumer sentiment index (CCSI) fell 12.3 points from the previous month to 88.4 in December, according to the Bank of Korea (BOK), reaching its lowest level since November 2022. The decline represents the largest mont

December 24, 2024

'North Korea proposed troop deployment to Russia,' U.S. officials believe

SEOUL, December 24 (AJP) - North Korea initially proposed deploying its troops to Russia to assist Moscow's war in Ukraine, The New York Times reported on Monday, citing U.S. intelligence agencies. The deployment was "North Korea's idea and not Russia's," although Russian President Vladimir Putin "quickly embraced it," the daily wrote. Over 10,000 North Korean soldiers are believed to have been sent to Russia since last fall, with most of them depl

December 24, 2024

Over 3,000 North Korean troops killed or injured in Russia, Zelensky claims

SEOUL, December 24 (AJP) - Ukrainian President Volodymyr Zelensky claimed on Monday that more than 3,000 North Korean troops deployed to Russia have been killed or injured in combat with Ukrainian forces. "The number of North Korean soldiers killed and wounded in the Kursk region has already exceeded 3,000," he said citing preliminary data. Zelensky took to social media to make the claim, while expressing concerns that Pyongyang is also threatening to send additional tr

December 24, 2024

'North Korea preparing to send additional troops, equipment for Russia'

SEOUL, December 23 (AJP) - South Korea's military has detected that North Korea is taking steps to send additional troops and equipment to support Russia, including the potential deployment of suicide drones. According to the Joint Chiefs of Staff (JCS) on Monday, North Korea is supplying Russia with 240mm multiple rocket launchers and 170mm self-propelled artillery. The JCS also revealed that North Korea is making efforts to produce and supply suicide drones, including those sh

December 23, 2024

KCCI helps semiconductor industry address labor shortage with training program

SEOUL, December 23 (AJP) - A total of 668 individuals have completed a program operated by the Korea Chamber of Commerce and Industry (KCCI) to cultivate skilled semiconductor specialists and obtained jobs in the semiconductor industry over the past three years. This initiative is a crucial part of South Korea's efforts to bolster its semiconductor workforce amid fierce global competition. Recognizing the surging demand, the KCCI plans to expand its training curriculum. Thi

December 23, 2024

VISUALS: Seoul City Hall ice rink opens for season, admission still 1,000 won

SEOUL, December 23 (AJP) - The popular ice skating rink in front of Seoul City Hall has opened for its annual winter season, offering 52 days of skating enjoyment from Dec. 20 to Feb. 9, 2025. Continuing a tradition of affordability, the admission fee remains a mere 1,000 won ($0.69), unchanged since the rink's inauguration in 2004. Helmets and knee pads are available for free rental.

December 23, 2024

Top university leaders discuss strategies for tackling upcoming complex crises at Seoul forum

SEOUL, December 23 (AJP) - Leaders from South Korea's top universities in economics, technology, and law gathered in Seoul for a forum to discuss the challenges the country faces ahead of the new year. Under the theme "Renovation and Revolution of Korea," the University Presidents' Future Forum 2025 brought together leaders from prestigious institutions, including KAIST, Seoul National University (SNU), and Yonsei University. The event at the National Assembly i

December 23, 2024

Shinsegae's Centum City surpasses $1.5 billion sales mark, driven by K-beauty, tourism

SEOUL, December 23 (AJP) - Shinsegae Department Store's Centum City branch in Busan surpassed 2 trillion won ($1.5 billion) in annual sales on Saturday, marking the second consecutive year that a non-Seoul department store has achieved this milestone. The feat comes despite the ongoing challenges facing regional retail. The store's success can be attributed in part to a surge in foreign visitors, with customer visits increasing by 253 percent this year following a 668 perc

December 23, 2024

Tesla challenges German dominance in Korea's imported car market

SEOUL, December 23 (AJP) - U.S. electric vehicle maker Tesla Inc. is set to secure the third position in South Korea's imported car market this year, disrupting the traditional German-led hierarchy, industry data showed on Monday. According to the Korea Automobile Importers & Distributors Association (KAIDA), German luxury automaker BMW led the market this year with 67,250 units sold up to November, followed by Stuttgart-based Mercedes-Benz with 59,561 units. Tesla record

December 23, 2024