SEOUL, May 13 (Korea Bizwire) – On the first floor of Lotte World Mall last month, queues snaked up to the third floor as crowds of students and foreign visitors flocked to a pop-up store event featuring the K-pop group Tomorrow X Together. At a Kiwoom Heroes baseball team pop-up that ran until May 5 at [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s trade ministry said Monday it has held the first joint committee meeting with Cambodia after their free trade agreement (FTA) took effect and discussed the progress of the deal and ways to cooperate in the global supply chain. Trade Minister Cheong In-kyo met his Cambodian counterpart, Cham [...]
SEOUL, May 13 (Korea Bizwire) — Business leaders of South Korea, Japan and China plan to convene in Seoul this month to discuss regional economic cooperation and strengthen exchanges, according to industry sources Monday. According to the sources, the Korea Chamber of Commerce and Industries, the Japan Business Federation and the China Council for the [...]
SEOUL, May 13 (Korea Bizwire) – The National Tax Service of South Korea has initiated a special tax investigation into Coupang, the nation’s top e-commerce company. Authorities are examining the flow of funds between Coupang’s Korean entity, wholly owned by the U.S.-based Coupang Inc. in Delaware, and its overseas affiliates. This probe coincides with looming scrutiny [...]
SEOUL, May 10 (Korea Bizwire) — CJ Olive Young Corp., the distribution unit of South Korean food-to-cosmetics conglomerate CJ Group, said Friday it will set up a business entity in Japan by June to supply its cosmetics products to local distribution channels. CJ Olive Young plans to open an office in Japan within the first [...]
SEOUL, May 9 (Korea Bizwire) — Emart24, a South Korean convenience store chain, said Thursday it has partnered with local cryptocurrency exchange Bithumb to sell the “bitcoin meal box” by the end of this month. Under a partnership with Bithumb, Emart24 plans to sell 30,000 such meal boxes at 5,900 won (US$4.3) per product by [...]
SEJONG, May 8 (Korea Bizwire) – Sam’s Club, the membership-only retail warehouse chain owned by Walmart, is eager to purchase Korean products across several categories, presenting a significant opportunity for small and medium-sized Korean companies looking to penetrate China’s consumer market. The Korea Trade-Investment Promotion Agency (KOTRA) revealed on May 7 a list of items that [...]
SEOUL, May 8 (Korea Bizwire) – Coupang Eats, the food delivery service from the e-commerce giant Coupang, has significantly extended its lead over its rival Yogiyo in terms of monthly active users, according to data from WiseApp, a mobile app analysis service. In April, Coupang Eats had 6.97 million active users, surpassing Yogiyo’s 5.76 million by [...]
SEOUL, May 8 (Korea Bizwire) – Starbucks Korea announced on May 7 that the cumulative number of customers using personal reusable cups at its domestic stores reached the 150 million milestone last month. The use of reusable cups saw a sharp rise, skyrocketing from 9.39 million instances in 2018 to 29.35 million last year. In the [...]
SEOUL, May 7 (Korea Bizwire) – With the major food delivery apps in South Korea waging a “free delivery” war to lure customers, some franchise owners and restaurants have sparked controversies by charging higher prices for delivery orders compared to dine-in meals, citing the burden of the apps’ commission fees. On May 5, industry officials said [...]