* Date : 2016-08-27
Dongdaemun, Center of the K-Fashion Fever
All around the world, interest in K-fashion is reaching new heights. Dongdaemun Fashion Town is at the center of the K-fashion boom. With Chinese consumers showing a greater preference for Dongdaemun fashion, a new business model to help sellers conduct direct online exports by connecting them to online sales channels in China is rising. K-fashion is a fast growing industry of the Korean Wave. We learn about what makes K-fashion so popular and ways to make this popularity last.
Soju, Breaking Production Records and Captivating the World
Soju production has hit an all time high (as of May each year). Thanks to prolonged economic sluggishness and the introduction of unique new products such as low-proof, fruit-flavored or carbonated variations, soju's popularity is soaring. Premium distilled soju, which can cost more than 7 times as much as ordinary soju, is also expanding its market share. Soju is expanding beyond Korea, and taking the world by storm. Hite-Jinro, Korea's largest soju manufacturer, is exporting soju to approximately 60 countries worldwide, and marketing aggressively. Soju is becoming a drink of the global community. We took a look at the upscale transformation of soju and its expansion strategies overseas.
Implementation of Anti-Corruption Law, Upgrading Transparency in Korean Society
The anti-corruption law, often referred to by the name of its creator Kim Young-ran, has been judged constitutional 1443 days since it was first proposed. A month before its enforcement on September 28th restaurant owners are worried if they would be able to stay in business while department stores are developing gift sets that cost less than US$50. Experts say that the law should be given closer examination to determine if it could actually resolve the problem of corruption as intended. We examine the impact that the Kim Young-ran law will have on Korean society.
The Halal Market Expands to the Finance Sector!
The world's Muslim population is expected to grow to 1.9 billion by 2020 and 2.2 billion by 2030, accounting for 26.4% of the global population. Accordingly, domestic corporations are focusing their attention on the Halal industry. According to the Korea Halal Authority, the Halal industry is expected to grow in size from 3.2 trillion dollars in 2014 to 5.2 trillion dollars in 2020. The Halal trend is focused mostly on food currently, but cosmetics, medical products, tourism, finance and media are all within its circle of influence. We took a look at the Halal market and how it's becoming a breakout export route.