SEOUL, April 9 (Korea Bizwire) — South Korea’s leading portal operator Naver Corp., said Thursday that its financial arm Naver Financial Corp. will now transfer the full value of transactions conducted via its portal to Smartstore sellers the day after delivery, as part of the company’s ‘Quick Transaction’ policy. Smart Store is an online shopping [...]
SEOUL, March 16 (Korea Bizwire) — South Korea’s No. 1 mobile carrier SK Telecom Co., retail giant Lotte Group and others submitted preliminary bids on Tuesday to buy eBay Korea in a deal that could fetch some 5 trillion won (US$4.42 billion) and bring a seismic change to the fiercely competitive e-commerce sector, industry sources [...]
SEOUL, March 7 (Korea Bizwire) — South Korea’s corporate watchdog said Sunday it plans to revise a law governing e-commerce transactions as an increase in online platform-based trade raised the need to better protect consumers amid a non-contact trend. The Korea Fair Trade Commission (KTFC) said it will seek to revise the Act on Consumer [...]
SEOUL, March 3 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. is expected to make its landmark debut on March 11 on the New York Stock Exchange (NYSE), a day after fixing its initial public offering (IPO) price, financial industry sources said Wednesday. The speculation came after the NYSE confirmed that the IPO price [...]
SEOUL, Jan. 20 (Korea Bizwire) — U.S. e-commerce operator eBay Inc. said Wednesday it is looking for a potential buyer for its South Korean unit, which could change the landscape of the local online commerce market if a big deal is made. EBay is the No. 2 e-commerce player in the U.S. with about 11 [...]
SEOUL, Dec. 15 (Korea Bizwire) — Naver Corp., the operator of South Korea’s dominant Internet portal, said Sunday its artificial intelligence (AI)-based mobile shopping recommendation technology ‘AiTEMS’ led to a sharp increase in customers’ selection of items that are less popular and have fewer review comments. According to a report released by a research team [...]
SEOUL, Dec. 7 (Korea Bizwire) — Naver Corp., the operator of South Korea’s dominant internet portal, said Monday that more than 45 million accumulated views have been made at its live-streaming shopping platform in the four months since its launch. More than 45 million accumulated views were recorded and 400,000 purchases made at Shopping Live [...]
SEOUL, Dec. 3 (Korea Bizwire) — Online shopping in South Korea grew 20 percent in October from a year earlier as the new coronavirus outbreak prompted people to buy goods via e-commerce platforms, data showed Thursday. The value of online transactions stood at 14.2 trillion won (US$12.9 billion) in October, compared with 11.9 trillion won [...]
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 [...]
SEOUL, Nov. 16 (Korea Bizwire) — SK Telecom Co., South Korea’s largest mobile carrier, said Monday it is partnering with Amazon.com, Inc. to allow South Koreans to have easier access to products on the U.S. e-commerce giant’s platform. The carrier said users of its e-commerce unit 11Street Co. can directly purchase the U.S. company’s products [...]