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Amazon Joins Hands with 11st to Enter South Korean Market

Amazon Joins Hands with 11st to Enter South Korean Market

SEOUL, Nov. 17 (Korea Bizwire) — A recent business deal between the U.S. e-commerce giant Amazon.com, Inc. and a local e-commerce platform 11Street Co. is likely to make waves in the domestic online shopping industry. SK Telecom Co., South Korea’s largest mobile carrier and the parent company of 11st, officially announced its plan to join hands [...]

Advertising Agency Opens New-concept Online Shopping Mall

Advertising Agency Opens New-concept Online Shopping Mall

SEOUL, Nov. 10 (Korea Bizwire) — The South Korea’s largest ad agency is making forays into the e-commerce market. Cheil Worldwide Inc., an advertisement unit of Samsung Group, announced on Monday that it had opened a new-concept online shopping mall ‘GETTT’ that is an experience-based e-commerce platform. GETTT is an abbreviation of the words ‘Get [...]

Naver Faces 26.7 bln-won Fine, Accused of Manipulating Algorithms

Naver Faces 26.7 bln-won Fine, Accused of Manipulating Algorithms

SEJONG, Oct. 6 (Korea Bizwire) — South Korea’s antitrust regulator on Tuesday accused Naver Corp., the nation’s biggest search engine, of manipulating search algorithms in favor of the company’s online shopping site and imposed a 26.7 billion-won (US$22.9 million) fine. The fine, announced by the Korea Fair Trade Commission (KFTC), is the nation’s first that [...]

Teens Prefer Specialized Platforms, 30-somethings Prefer General Platforms for Online Transactions

Teens Prefer Specialized Platforms, 30-somethings Prefer General Platforms for Online Transactions

SEOUL, Aug. 18 (Korea Bizwire) — With a growing number of South Koreans tapping into online transactions due to the coronavirus pandemic, a recent survey has revealed that preferred mobile applications for online transactions differ by age groups. Market researcher Nielsen KoreanClick reported Monday that Coupang topped usage among all age groups. The rankings that [...]

Online Shopping Jumps 13 pct in May amid Contactless Trend

Online Shopping Jumps 13 pct in May amid Contactless Trend

SEJONG, July 3 (Korea Bizwire) — Online shopping jumped 13.1 percent from a year earlier in May, data showed Friday, as the coronavirus pandemic prompted more consumers to buy goods via e-commerce platforms. The value of online transactions came to 12.72 trillion won (US$10.59 billion) in the month, up 1.46 trillion won from the same [...]