Time to spend: Korean shoppers loosen purse strings on luxuries, hotels
South Korea’s long-dormant consumer sector is showing signs of revival, as shoppers – once paralyzed by political uncertainty – re...
Genesis targets broader European presence with EV trio
Genesis, Hyundai Motor Co.'s premium brand, is expanding its European footprint to four additional countries –France, Spain, Italy and the Net...
Coupang bids for Korean luxury market dominance with Farfetch
Coupang Inc., South Korea’s largest e-commerce player, is set to seize control of the country’s online luxury market with Farfetch amid ...
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...
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...
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 ...
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...
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...
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 ...
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...
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...
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...
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...
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...
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 ...
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 ...
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...
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...
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, ...
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...
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...
Louis Vuitton, Chanel, Dior post weak profits in Korea post-pandemic
Global luxury brands Louis Vuitton, Chanel and Dior saw worsening profitability of their South Korean operations last year after a few years of dece...
Korea leads global online shopping trend for used luxury goods
South Koreans are leading the trend of buying used luxury goods online with top-end products such as Rolex watches and Hermes bags among the hottest...
Hyundai boosts Genesis with enhanced performance, luxury
NEW YORK -- Hyundai Motor Co., South Korea’s top automaker, is set to boost its premium brand Genesis with performance models and more luxury ...
Ssangyong E&C wins deals for two Dubai luxury residences
Ssangyong Engineering & Construction Co. announced on Monday that it secured two luxury residence construction projects in Dubai, United Arab Em...
Hyundai, Red Sea Global agree on EV, AAM projects in Saudi luxury resorts
South Korea’s top automaker Hyundai Motor Group said on Monday it has agreed with Saudi Arabia’s state-sponsored developer Red Sea Globa...
Duty-free shops at Incheon International Airport eager to lure boutiques
Duty-free shops at Incheon International Airport, South Korea’s main gateway, are fiercely competing to lure luxury brand boutiques to their o...
LG Electronics to develop hotel-exclusive robots
LG Electronics Inc. will develop hospitality robots jointly with South Korea’s luxury hotel chain operator Josun Hotels & Resorts Co. to m...
South Korea’s luxury hotels bask in return of tourists post-pandemic
South Korea’s luxury hotels are enjoying the return of tourists following years of COVID-19 restrictions, which significantly hurt their sales...
Korea’s luxury resort market blossoms despite slow economy
South Korea’s luxury resort market seems to operate out of sync with the economy. High-end operators are opening swanky holiday resorts in Kor...
