IRC Consulting

20/01/2023

Happy Lunar New Year!

Market Insights Articles TitleHappy New Year from all of us at IRC Consulting2023-01-19 22:46WriterJacob Lee ListReplyWrite '; addHtml= addHtml+''; addHtml= addHtml+'Comment Reply'; addHtml= addHtml+''; addHtml= addHtml+''; if(comment_index==idx && comment_action==action){ jQuery(" "...

19/09/2022

Korea enjoys a fantastic delivery infrastructure. Virtually any product or service is available online and delivered to your door at a speed that is unbeatable. This is the home of the haste-based &ls

19/09/2022

https://ircconsultingkorea.com/market-insights/?vid=69

Haste Makes Waste: The Delivery Culture Conundrum

The unfortunate downside to quick delivery is the amount of waste that it generates. Protecting products as they are hauled from storage to transport to front door, bouncing over speedbumps along the way, is a headache for vendors. Korean customers have high expectations and won’t hesitate to return a product that arrives in less than pristine condition.

Korea enjoys a fantastic delivery infrastructure. Virtually any product or service is available online and delivered to your door at a speed that is unbeatable. This is the home of the haste-based &ls

07/09/2022

Chuseok: Happy Thanksgiving!



The harvest is in! The months-long toil of tilling the land, planting seeds, watering, fertilizing, weeding, chasing away the birds and insects and all the while praying for good weather has borne fruit. Summer heat has passed, and the days are bright and sunny and nights cool. It is time to celebrate. With its strong agricultural roots, the Chuseok fall thanksgiving festival is a hallmark holiday for Korea. Though the agricultural population has shrunk to less than 5% of all citizens and most people are separated from the land by one or more generations, Chuseok remains an important milestone in the annual calendar. Furthermore, it is a three-day holiday!

Chuseok: Happy Thanksgiving! The harvest is in! The months-long toil of tilling the land, planting seeds, watering, fertilizing, weeding, chasing away the birds and insects and all the while praying

01/08/2022

PROTOCOLS FOR VISITORS TO KOREA (Aug .01, 2022)

Source: pixabay In Korea, the new variant surge of COVID19 has caused cases to escalate again with a 7-day average of over 70,000 and reaching a daily rate of over 100,000 new cases on the 27th of Ju

21/07/2022

Korean Industry Surges Ahead with Electric Vehicles

Korea looks at Hyundai and Kia as the core strength of its EV industry, however these are not the only essential players. LG Energy Solutions, Samsung SDI and SK on not only produce most of the EV batteries in Korea but are also global powerhouses. In 2021, these three companies marketed 31.4% of all batteries sold in the world, making LG Energy Solutions (with sales representing 20.3% of global sales), Samsung SDI (5.6%) and SK on (4.5%) the main players in this market.

Worldwide Demand for Environmentally-Friendly Vehicles Source: pixabay Governments and global organizations all over the world have begun to set policies to limit CO2 emissions. One focus is on reduc

06/07/2022

Korea’s Growing Metaverse Industry and the Metaverse Expo 2022

In Korea, before the pandemic, the metaverse and related platforms were focused on the gaming industry. Yet there was much more to the Metaverse Expo 2022 than just games. Platforms and technology solutions were displayed for the medical, tourism, arts, and real estate industries, as well as others.

Korea’s Growing Metaverse Industry and the Metaverse Expo 2022 While Korea’s economy is still not fully recovered from the pandemic, the recent Metaverse Expo 2022 which showed from June 1

05/07/2022

South Korea launches homegrown Nuri rocket carrying satellites into orbit

South Korea successfully launched satellites into orbit with its homegrown Nuri rocket on Tuesday, a significant step for the country's burgeoning space program after a failed attempt last year.

South Korea successfully launched satellites into orbit with its homegrown Nuri rocket on Tuesday, a significant step for the country's burgeoning space program after a failed attempt last year.

02/05/2022

Free from masks!

https://ircconsultingkorea.com/market-insights/?vid=61

20/04/2022

General Alcoholic Beverage Market

The trends and preferences on Korean alcoholic beverages have greatly changed over time. Before the year 2000, when people talked about having a drink, it was referred to as distilled soju, which dominated the domestic market. Drinking activity was focused on ‘Hoi Shik,’ late night business dinner gatherings involving consuming high alcohol by volume (abv) product. However, in recent years more people started to enjoy ‘Hon-sool’, or drinking alone, as well as alcoholic beverages with a lower abv, such as wine and beer. For various tastes and experiences, imported wine and beer consumption started to grow. Following this trend, the market share for beer increased.

The Beer Market in Korea and The Expansion of Craft Beer Source: pixabay General Alcoholic Beverage Market The trends and preferences on Korean alcoholic beverages have greatly changed over time. B

04/04/2022

Update on COVID-19 Social Distancing Measures for April 2022

Korea’s new cases of COVID-19 decreased from a height of 621,328 cases per day on March 17th to 127,190 cases on April 4th. Following the downward trend in new cases, the government announced an updated version of social distancing protocol on April 1st. This new protocol is effective from April 4th till April 17th. We highlight the following changes.

Update on COVID-19 Social Distancing Measures for April 2022 Source: pixabay Korea’s new cases of COVID-19 decreased from a height of 621,328 cases per day on March 17th to 127,190 cases on Apr