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Archive by category E Commerce

S. Korean Cryptocurrency Exchanges Push to Improve Transparency

S. Korean Cryptocurrency Exchanges Push to Improve Transparency

SEOUL, Dec. 15 (Korea Bizwire) – South Korean cryptocurrency exchanges said Friday they will adopt a raft of self-regulatory measures to improve transparency in trading to keep the unregulated market in check amid worries over a bitcoin frenzy. The Korean Blockchain Industry Association composed of 14 virtual currency exchanges said its members agreed to require [...]

Online Malls Suffer Losses in Keen Competition Despite Growing Sales: Sources

Online Malls Suffer Losses in Keen Competition Despite Growing Sales: Sources

SEOUL, Dec. 13 (Korea Bizwire) — South Korea’s online shopping malls are expected to post a combined 1 trillion won (US$915 million) operating loss this year as they offer excessive discounts in a competition with rivals to dominate the growing market, industry sources said Wednesday. The rising losses over the past few years come amid [...]

Security Agency Warns of Possible North Korea Attacks on Bitcoin Exchanges

Security Agency Warns of Possible North Korea Attacks on Bitcoin Exchanges

SEOUL, Dec. 11 (Korea Bizwire) — Amid growing interest in cryptocurrency, security experts have warned that North Korean hackers could target bitcoin exchanges next year. During a press conference held on Friday, the Korea Internet & Security Agency (KISA) revealed a report predicting seven cyberattacks would likely come next year, with cryptocurrency exchanges as the likely [...]

Desktop Internet Banking a Relic of the Past

Desktop Internet Banking a Relic of the Past

SEOUL, Dec. 11 (Korea Bizwire) — Only 3 in 10 South Koreans currently use desktop online banking, while the majority have turned to mobile banking services accessed via smartphones and tablet PCs, a new survey has found. According to data provided by pollster DMC Media, around 28 percent of South Korean bank account holders aged between [...]

Online Shoppers More Attracted to U.S. Black Friday than Local Sales Event

Online Shoppers More Attracted to U.S. Black Friday than Local Sales Event

SEOUL, Nov. 27 (Korea Bizwire) — Online shoppers are showing growing interest in Black Friday in the United States while losing interest in the local version of the sales extravaganza, an analysis of big data showed Monday. According to Daumsoft, which sorted through blogs, tweets and news on Black Friday from 2015 to this year, [...]

Samsung SDS’s Makes Foray into Chinese Distribution Industry

Samsung SDS’s Makes Foray into Chinese Distribution Industry

SEOUL, NOV. 22 (Korea Bizwire) – Samsung SDS is branching out into the Chinese distribution industry after signing a business agreement with the Guangzhou Post Office. The latest move by Samsung’s information technology affiliate will see the company work with Chinese shopping websites to deliver products around the globe. According to industry statistics, China’s e-commerce market [...]

SK Planet’s Turkish Unit Sets Record Daily Transactions

SK Planet’s Turkish Unit Sets Record Daily Transactions

SEOUL, Nov. 14 (Korea Bizwire) — SK Planet Co., the operator of local e-commerce platform 11st, said Tuesday its Turkish unit posted 42 billion won (US$37.5 million) in transactions during an online shopping event held last week, marking the highest daily ever record. The new peak was set during a shopping promotion held by n11, [...]

Southeast Asia’s Largest Online Shopping Mall Seeks Sellers from S. Korea

Southeast Asia’s Largest Online Shopping Mall Seeks Sellers from S. Korea

Will Ross, CEO of Lazada Crossborder, speaks during a press conference in Seoul on Nov. 7, 2017. (image: Lazada Group) SEOUL, Nov. 7 (Korea Bizwire) — Lazada Group, which runs the largest online shopping platform in Southeast Asia, said Tuesday it is looking for South Korean companies who will sell their products in the growing [...]