SEOUL, Feb. 13 (Korea Bizwire) — South Korean online grocer Oasis Corp. cancelled its planned initial public offering (IPO) on Monday amid lackluster investor sentiment. Oasis said it submitted a withdrawal letter after it received a lackluster response from domestic and foreign institutional investors during a two-day demand forecasting session last Tuesday and Wednesday amid [...]
SEOUL, Feb. 9 (Korea Bizwire) – Oasis Corp., a South Korean e-grocery store operator, on Wednesday announced its ambition to boost its members and build new logistics centers as it prepares to go public in the local stock market later this month. Oasis will debut on the secondary KOSDAQ market on Feb. 23, becoming South [...]
SEOUL, Feb. 1 (Korea Bizwire) — Online shopping in South Korea reached a new record in 2022 following firm demand for travel services amid eased concerns over the pandemic, data showed Wednesday. The value of online shopping transactions stood at 206.4 trillion won (US$167.3 billion) in 2022, up 10.4 percent from the previous year, according [...]
SEOUL, Jan. 15 (Korea Bizwire) — The head of Poshmark, a U.S. social commerce marketplace for fashion, has said the merger with South Korean tech giant Naver Corp. will give fresh growth momentum to both companies and help them grow into a global player in the world. “I’m really excited about our integration with Naver, [...]
SEOUL, Jan. 4 (Korea Bizwire) — Kurly Corp. the operator of South Korean e-grocery platform Market Kurly, said Wednesday it will postpone the initial public offering (IPO) originally planned for early this year, due to harsh market conditions. “We decided to push back our planned IPO with the Korea Exchange (KRX), considering the contracting investor [...]
SEOUL, Jan. 3 (Korea Bizwire) — Online shopping in South Korea increased 7.3 percent on-year in November on the back of higher demand for travel and transportation services, data showed Tuesday. The value of online shopping transactions came to 18.12 trillion won (US$14.2 billion) in November, compared with 16.8 trillion won tallied a year earlier, [...]
SEOUL, Nov. 10 (Korea Bizwire) — E-commerce giant Coupang Inc. said Thursday it swung to the black in the third quarter for the first time since 2014, when it introduced its ultrafast delivery service, Rocket Delivery. Net income came to US$90.7 million in the July-September period, compared with a net loss of $324 million during [...]
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 [...]
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 [...]
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 [...]