Foreign direct investment pledged to Korea's free economic zones (FEZs) surged 42.8 percent in 2021, led by the overseas investment in bio and other new industry sectors, data showed Tuesday.
Naver Shopping is a leading player in Korea's cutthroat e-commerce market, outperforming strong competitors like Coupang and eBay Korea. It now wants to take that success overseas, namely to Japan, Southeast Asia and Europe.
Korea extended its 10-day mandatory quarantine rule for all overseas arrivals through Jan. 6.
Koreans' overseas card spending declined 14.8 percent in the third quarter from three months earlier as the government tightened rules on withdrawals of money from automatic teller machines and the won depreciated against the dollar.
Airlines are in a holding pattern as the Omicron coronavirus variant threatens to shut down travel worldwide.
Air travel is starting to return to normal as routes are being opened to accommodate travel-bubble travelers.
LF’s fashion brand Hazzys will go on sale in Mongolia later this month.
Shopping on overseas websites continued to grow, with health supplements and home appliances leading the trend.
Lotte Ventures, which develops and fosters start-ups, will spend 3 billion won ($1.6 million) to help start-ups enter overseas markets.
President Moon Jae-in said that there is “no reason for confrontation” between the two Koreas Tuesday, a day after the restoring of cross-border hotlines, stressing the importance of co-prosperity with the North.