SEOUL, July 1 (Korea Bizwire) — Online shopping in South Korea continued to increase in May as the lifting of virus curbs bolstered demand for travel and cultural services and foodstuffs, data showed Friday. The value of online shopping transactions stood at 17.3 trillion won (US$13.4 billion) in May, up 10.5 percent from the previous [...]
SEOUL, May 19 (Korea Bizwire) — TMON Inc., one of South Korea’s major e-commerce operators, said Wednesday it will introduce a new payroll system with gamification starting from July. Under the new system, employees can earn higher salaries if they achieve higher levels by gaining experience points depending on individual performance. They can get experience [...]
SEOUL, May 12 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. said Thursday its first-quarter operating loss narrowed sharply from a year earlier thanks to record sales. Its operating loss stood at US$205.7 million in the January-March period, down 23 percent from a year earlier, the New York-listed e-commerce behemoth said in a regulatory [...]
SEOUL, March 23 (Korea Bizwire) – South Korea’s antitrust regulator will investigate e-commerce giant Coupang Inc., suspected of mobilizing employees to post false reviews on private brand (PB) products for more exposure and to attract customers, industry sources said Tuesday. Civic groups had filed reports with the Fair Trade Commission (FTC) about the suspected act [...]
SEOUL, March 8 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. has established an office in the Chinese border city of Yanji and hired a large number of local employees as part of efforts to diversify overseas direct purchase services through the expansion of its presence in China. According to industry sources, about 230 [...]
SEOUL, March 4 (Korea Bizwire) — The number of users of e-commerce platform 11Street is declining at a rapid pace, with some saying that the positive impact of the partnership it formed with U.S. retail giant Amazon.com last year has yet to materialize. According to the data from market researcher Nielsen Koreanclick, the number of [...]
SEOUL, March 3 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. said Thursday that its annual sales revenue and operating loss shot up to an all-time record last year due to increased costs from expansion and the pandemic. Coupang’s consolidated sales in 2021 jumped 54 percent on-year to US$18.4 billion, the largest volume since [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korean e-commerce companies are introducing a variety of new services to get the upper hand in the fast-growing online luxury goods market. SSG.com, the online mall arm of retail giant Shinsegae Group, announced a plan to introduce a new delivery service for luxury goods by the first quarter [...]
SEOUL, Jan. 20 (Korea Bizwire) — As the dominance of the top three players — Naver Corp., Coupang Inc. and SSG.com — is solidifying in the South Korean e-commerce market, latecomers are adopting drastic differentiation and transformation strategies. Wemakeprice Inc., a local open market operator, added a special button that is connected to SSG.com to [...]
SEOUL, Nov. 29 (Korea Bizwire) — Competition is heating up among South Korean e-commerce operators to get the upper hand in the market. Regardless of losses, they are making aggressive investments while focusing on increasing their market share. Investment has primarily focused on logistics centers and marketing. E-commerce giant Coupang Inc., which recently raised funds [...]