South Korean customers were more satisfied with their goods and services in 2022, compared to those in the US, Japan and Singapore, according to the National Consumer Satisfaction Index published annually by the Korea Productivity Center. The index is not only a measure of consumer satisfaction, but an indicator of the economic performance by companies, government agencies, and the macroeconomy as a whole. Similar standards are adopted by over 30 countries worldwide which use the same metrics

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Chairman Chey Tae-won makes surprise appearance to liven up mood

S. Korean massage chair maker draws praise from visitors at CES 2023

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HD Hyundai’s sub-holding company partners with American Bureau of Shipping

Sales of red ginseng health supplement brand CheongKwanJang held the largest market share in the global ginseng market for 10 years in a row, Korea Ginseng Corp. said Sunday. According a report published by market research firm Euromonitor International, the global ginseng retail market was valued at about 3.13 trillion won ($2.5 billion) last year. Among them, sales of CheongKwanJang, a brand under KGC, logged 1.31 trillion won with a 41.9 percent market share. It is the 10th year in a row that

Jeju Air Co., South Korea's leading budget carrier, said Sunday the number of its flights on international routes bounced back to 70 percent of pre-pandemic levels last month. Jeju Air offered 3,057 flights on its international routes to carry 485,000 passengers in December, accounting for 70 percent of the 4,362 flights and 694,016 passengers in December 2019, the company said in a statement. Airlines were hit hard by the COVID-19 pandemic as many countries shut down their borders or adopt

SK Group Chairman Chey Tae-won appeared at CES on Friday, reversing the earlier announcement that he was canceling his visit to the tech show after one of his aides tested positive for COVID-19. This is the first time Chey has visited the four-day exhibition in person. He is also the only chief among those of the South Korean conglomerates participating in CES to be attending the show. "Being here for the first time, I could see various new technologies that I have heard so much about,&qu

Superstition that they bring wealth behind enduring popularity of calendars from financial institutions

LG Electronics said Friday it expected its 2022 fourth-quarter operating earnings tumbled more than 91 percent from a year prior, amid its home appliance unit’s sluggish performance coupled with global recession woes. LG estimated operating profit for the October-December period came in at 65.5 billion won ($51.6 million), down 91.2 percent from the same period a year before, according to the company’s earnings guidance. It would be the first time in four years for South Korea’

Korean internet portal giant Naver announced Friday that the company has completed its acquisition of Poshmark, a US social commerce marketplace for fashion, a move to penetrate into the global consumer-to-consumer market. Naver's special purpose company Proton Parent acquired all shares and its assets of Poshmark for $1.31 billion. Its enterprise value stands at about $1.2 billion. With the transaction, Poshmark withdrew its plan to go public on the US Nasdaq, Naver said. Naver first decid

SK Group vice chairman and affiliate heads look for newest technologies at CES 2023

S. Korean auto parts supplier seeks to become total mobility platform provider with software, hardware technology

Samsung Electronics predicted Friday that its 2022 fourth-quarter operating profit would plummet 69 percent from a year earlier, as its main semiconductors business faced major headwinds from weakening demand for chips and home appliances amid recession woes. In its earnings guidance, the South Korean tech giant estimated its October-December operating profit to be 4.3 trillion won ($3.4 billion), down from 13.87 trillion won a year prior. The figure was lower than the consensus 6.93 trillion wo