E Commerce Archives | Be Korea-savvy

Archive by category E Commerce

E-Commerce Industry Shackled in Ballooning Losses as Competition Stiffens

E-Commerce Industry Shackled in Ballooning Losses as Competition Stiffens

SEOUL, Feb. 14 (Korea Bizwire) – Despite the ballooning volume of e-commerce, deficits for online shopping malls are also bloating with even a rough estimate pointing to over 1 trillion won (US$876.88 million) last year, industry officials said Tuesday.  Industry records showed the country’s three leading social commerce sites — Coupang, Ticket Monster and WeMakePrice [...]

Online Shopping in S. Korea Hits Record High in Dec.

Online Shopping in S. Korea Hits Record High in Dec.

SEJONG, Feb. 3 (Korea Bizwire) – Online shopping in South Korea reached a fresh record high in December on the back of a steady upbeat trend of buying goods through computers and mobile phones, government data showed Friday.  Total online transactions reached a record 6.2 trillion won (US$5.4 billion) in December, up 15.4 percent from [...]

S. Korea’s E-Commerce Exports Sharply Growing

S. Korea’s E-Commerce Exports Sharply Growing

SEOUL, Dec. 23 (Korea Bizwire) – South Korea’s exports through e-commerce platforms have increased sharply this year, apparently helped by the government’s policy support, data showed Friday.  Outbound shipments via the Internet and other e-commerce sites totaled US$985 million in the first 11 months, according to the Korea Customs Service (KCS).  The volume is projected [...]

Social Commerce Companies Throw in the Towel, Tone Down Free Delivery Competition

Social Commerce Companies Throw in the Towel, Tone Down Free Delivery Competition

SEOUL, Oct. 12 (Korea Bizwire) – Social commerce companies are putting an end to competing each other with free delivery services as operating losses continue to soar. Coupang doubled the minimum purchase required for free delivery (Rocket Delivery) from 9,800 ($8.73) to 19,800 starting Tuesday.  Rocket Delivery is the company’s ambitious service that offers delivery within [...]

Renault Samsung Makes Move into E-Commerce with New SUV

Renault Samsung Makes Move into E-Commerce with New SUV

SEOUL, Sept. 2 (Korea Bizwire) – Marked by its convenience and easy accessibility, e-commerce has rapidly matured in pace with technological progress. The global market for e-commerce has been growing by an annual average of 10 percent, and is anticipated to become a $2-trillion industry by the year 2018. Korea has also followed a similar [...]

Coupang’s Signature “Rocket” Delivery Services to Be Legalized

Coupang’s Signature “Rocket” Delivery Services to Be Legalized

SEOUL, Aug. 31 (Korea Bizwire) – With Koreans increasingly likely to prefer online shopping over the physical experience, parcel delivery services are among the rapidly prospering businesses in Korea. Tuesday’s decision to abolish the Supply-Demand Regulation Policy, which made it difficult for service companies to increase their use of smaller trucks (1.5 tons and less), [...]