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Lotte Shopping Partners with Ocado of Britain to Expand E-grocery Biz

Lotte Shopping Partners with Ocado of Britain to Expand E-grocery Biz

SEOUL, Nov. 1 (Korea Bizwire) — Lotte Shopping Co. said Tuesday it has partnered with Britain’s Ocado Group Plc., a leading online grocery tech platform provider, to strengthen its e-grocery business. Through the partnership, Lotte Shopping, the retail arm of South Korea’s fifth largest conglomerate Lotte Group, plans to invest around 1 trillion won (US$705.2 [...]

Uh2sa Market Connects S. Korea’s Apparel Retail Biz with Price Competitive Chinese Goods

Uh2sa Market Connects S. Korea’s Apparel Retail Biz with Price Competitive Chinese Goods

SEOUL, Oct. 10 (Korea Bizwire) – Since childhood, Kim Soo-sung, the 36-year-old CEO who founded Uh2sa Market, has always had an eye for clothing retail. He naturally acquired the know-how of sourcing and procurement of clothes, as his mother ran a small women’s apparel shop in his hometown of Hongcheon. In university, Kim majored in [...]

E-commerce Giant Coupang Denies Rumors over Sale of Online Food Delivery Platform

E-commerce Giant Coupang Denies Rumors over Sale of Online Food Delivery Platform

SEOUL, Sept. 13 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. on Tuesday denied rumors that it is selling its online food delivery platform Coupang Eats. “The rumors about the sale of Coupang Eats are completely groundless,” the New York-listed e-commerce behemoth said in a statement, adding it has not had any related discussions [...]

Online Shopping Up 8.8 pct in July amid Eased Virus Curbs

Online Shopping Up 8.8 pct in July amid Eased Virus Curbs

SEOUL, Sept. 1 (Korea Bizwire) — Online shopping in South Korea rose 8.8 percent on-year in July as eased COVID-19 restrictions bolstered demand for travel and leisure services, and online grocery shopping continued to grow, data showed Thursday. The value of online shopping transactions came to 17 trillion won (US$12.6 billion) in July, compared with [...]

Live Commerce Market Grows, but There Are Complaints over Frequent Buffering

Live Commerce Market Grows, but There Are Complaints over Frequent Buffering

SEOUL, Aug. 15 (Korea Bizwire) — South Korean consumers are generally satisfied with live commerce, or TV home shopping-style mobile shopping, but the biggest cause of complaints lies in frequent buffering, a poll showed Sunday. According to a survey conducted by the Korea Consumer Agency of 1,500 adult consumers who had purchased products through five [...]

E-grocery Startup Market Kurly Partners with RedMart to Sell Korean Food in Singapore

E-grocery Startup Market Kurly Partners with RedMart to Sell Korean Food in Singapore

SEOUL, Aug. 11 (Korea Bizwire) — South Korean e-grocery startup Market Kurly has partnered with RedMart, a Singaporean online grocery giant, to sell Korean food online in the Southeast Asian city-state, its operator said Thursday. Under a partnership agreement formally signed Wednesday, the South Korean company began selling 44 ready-to-eat frozen food products in Singapore [...]

E-commerce Giant Coupang’s Q2 Operating Loss Narrows on Brisk Sales

E-commerce Giant Coupang’s Q2 Operating Loss Narrows on Brisk Sales

SEOUL, Aug. 11 (Korea Bizwire) — E-commerce giant Coupang Inc. said Thursday its second-quarter operating loss narrowed sharply from a year earlier on resilient sales. Operating loss stood at US$67.14 million in the April-June period, down 87 percent from a year earlier, the New York-listed e-commerce behemoth said in a regulatory filing. It represents the [...]

SSG.com Has Highest Per-transaction Settlement Amount Among E-commerce Platforms

SSG.com Has Highest Per-transaction Settlement Amount Among E-commerce Platforms

SEOUL, Aug. 11 (Korea Bizwire) — SSG.com, the online mall arm of South Korean retail giant Shinsegae Group, ranked first in terms of per-transaction settlement amount among South Korea’s major e-commerce platforms, a credit rating firm said Wednesday. NICE Investors Service analyzed the average settlement amount per transaction at major e-commerce platforms for the period [...]