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Customer Traffic Falling Fast at Online Shopping Malls

Customer Traffic Falling Fast at Online Shopping Malls

SEOUL, May 25 (Korea Bizwire) – Online shopping malls are fast losing customer traffic, industry data showed Thursday, compounding their massive business losses last year.  According to the data, the number of unique visitors to the six top online shopping sites totaled 84.86 million last month. This is 9.2 percent less than the same month [...]

Naver Named as Top-Performing Firm in South Korea

Naver Named as Top-Performing Firm in South Korea

  SEOUL, May 24 (Korea Bizwire) – Naver Corp. was picked as the top firm for its business performance among the country’s major 500 companies, data showed Tuesday, beating Samsung Electronics Co. According to the data compiled by industry tracker CEO Score, South Korea’s No. 1 Internet portal operator received top remarks in a business evaluation that centered on eight areas, including earnings, investment, job creation and transparency. While Naver stood as the [...]

South Korea’s $23-Billion Rental and Sharing Market Continues to Make Headway

South Korea’s $23-Billion Rental and Sharing Market Continues to Make Headway

SEOUL, May 22 (Korea Bizwire) – Last year, South Korea’s rental services market was estimated at 25.9 trillion won ($23.2 billion), up from 19.5 trillion won five years ago, according to the KT Economic Management Research Institute. By 2020, the market is expected to grow to a 40.1-trillion-won industry, researchers expect.  The boon in the [...]

Overseas Luxury Brands Booming with Young South Korean Consumers

Overseas Luxury Brands Booming with Young South Korean Consumers

SEOUL, May 17 (Korea Bizwire) – Demand is high for overseas luxury goods, particularly among younger consumers in their 20s and 30s, despite South Korea’s unrelenting economic slump.  According to Lotte Department Store, sales of overseas fashion items, largely comprising of high-end brands, jumped by more than 30 percent in 2016 compared to 2015 for [...]

Starfield Hanam’s Pet-Friendly Policy Met With Mixed Reception

Starfield Hanam’s Pet-Friendly Policy Met With Mixed Reception

SEOUL, May 15 (Korea Bizwire) – Amid growing pet ownership in South Korea, Shinsegae’s Starfield Hanam is drawing attention over its all-out animal-friendly policy that allows shoppers to enjoy the mall in the company of their pets, making itself the first shopping complex in the country where pets can walk around so long as they are [...]

South Korean Cosmetics Rip-Offs in China Confuse Customers Online

South Korean Cosmetics Rip-Offs in China Confuse Customers Online

SEOUL, May 15 (Korea Bizwire) – Trademark infringement of South Korean cosmetics makers in China has been on the rise with Amorepacific taking to court a Chinese website that sells rip-off products of its brand Laneige. The South Korean cosmetics giant brought a trademark infringement case against an online shopping mall called ‘laneigeonline.com’ at a local [...]

Rebidding for Remaining New Incheon Airport Duty-free Shops Fails Again

Rebidding for Remaining New Incheon Airport Duty-free Shops Fails Again

SEOUL, May 10 (Korea Bizwire) – An attempt to lease out the remaining duty-free store licenses by tender at the new terminal at Incheon International Airport has failed again, as no duty-free operators made a bid, authorities and industry sources said Wednesday. The auction for licensing to run the apparel and accessories store at the [...]

Sales of Dust Masks, Air Purifiers Spike on Murky Air

Sales of Dust Masks, Air Purifiers Spike on Murky Air

SEOUL, May 10 (Korea Bizwire) — Sales of dust masks and air purifiers soared in South Korea as citizens become increasingly concerned about seasonal fine and yellow dust here, industry data showed Tuesday. Originating from deserts in southern Mongolia and northern China, the dust has been a source of concern here, particularly in the spring. [...]

Augmented Reality Latest Trend in South Korean Retail Industry

Augmented Reality Latest Trend in South Korean Retail Industry

SEOUL, May 9 (Korea Bizwire) – Augmented reality is becoming one of the hottest trends in South Korea’s retail sector following the worldwide success of Niantic’s Pokémon GO, offering local consumers a unique yet more convenient shopping experience.  Last month, Hanssem, a leading home furnishing company, equipped its mobile shopping app with an AR service, [...]