SEOUL, Jul. 11 (Korea Bizwire) — South Korean search engine giant Naver has retracted plans to update its website layout after facing criticism for blatantly favoring its online shopping affiliates, which many called an unethical business practice. Most of the criticism is surrounding Naver’s newly proposed website layout, in which online shopping malls listed as the [...]
SEJONG, July 5 (Korea Bizwire) – Purchases made through mobile gadgets like smartphones reached a new all-time high in May as a growing number of people are becoming adept in using wireless devices for various reasons, government data showed Wednesday. Mobile transactions through smartphones and tablets reached 3.82 trillion won (US$3.3 billion) in May, soaring [...]
SEOUL, Jul. 4 (Korea Bizwire) — The South Korean government is accelerating its efforts to embrace the use of cryptocurrencies typified by bitcoin in the public sector, amid growing demand for digital assets that could replace physical money in the future. Lawmaker Park Yong-jin, a member of South Korea’s ruling Democratic Party, announced on Sunday plans [...]
SEOUL, Jun. 28 (Korea Bizwire) — South Korean women in their 30s have become the biggest spenders in the country’s international shopping market during the first half of 2017, according to a sales report from online shopping giant 11street. From a high-end vacuum cleaner to milk powder, women in their 30s have dominated international shopping [...]
SEOUL, Jun. 27 (Korea Bizwire) — South Korea ranked No. 1 in terms of e-commence for grocery shopping, far outpacing other major developed countries, an industry report showed Tuesday. According to the report by industry tracker, Kantar Worldpanel, the percentage of fast-moving consumer goods (FMCG) shopping via online and mobile channels out of all purchases [...]
SEOUL, Jun. 1 (Korea Bizwire) — Coupang, South Korea’s No. 1 online marketplace, has come under fire for allegedly sacking nearly a tenth of its delivery staff, adding further woes to the money losing startup that won kudos for its bold investment in logistics, industry sources said Wednesday. On Tuesday, some 75 former and current [...]
SEOUL, May 25 (Korea Bizwire) – Online shopping malls are fast losing customer traffic, industry data showed Thursday, compounding their massive business losses last year. According to the data, the number of unique visitors to the six top online shopping sites totaled 84.86 million last month. This is 9.2 percent less than the same month [...]
SEOUL, May 22 (Korea Bizwire) – A customized shopping app created by a South Korean startup company that recommends clothes for customers based on their body shape, skin tone and the occasion has made its debut in New York’s fashion industry. 42 Media, a startup company consisting of young South Koreans in their 30s who have [...]
SEOUL, May 8 (Korea Bizwire) – Grocery shopping via online and mobile channels in South Korea rose sharply in the first quarter from a year earlier, backed by robust demand for delivery services of fresh food amid a rise in the number of one-person households, data showed Friday. The amount of transactions made for fresh produce through online shopping malls reached 2.18 trillion won (US$1.92 billion), up 35.6 percent from the first three months of [...]
SEJONG, May 4 (Korea Bizwire) – South Korea’s online sales continued their upbeat mode to reach a fresh record high in March amid recovering consumer sentiment, government data showed Thursday. Total online transactions reached 6.33 trillion won (US$5.58 billion) in March, up 21.3 percent from 5.22 trillion won tallied a year earlier, according to the [...]