SEOUL, Dec. 30 (Korea Bizwire) — Four out of 10 franchise owners have considered ending their contracts early but most abandoned the idea because of penalties, a government survey showed Tuesday, highlighting the sector’s challenging business structure. According to the survey by the Fair Trade Commission (FTC), 42.5 percent of franchisees said they had considered [...]
SEOUL, Dec. 29 (Korea Bizwire) — South Korea’s fried chicken industry has crossed a symbolic threshold, with the number of franchise outlets nationwide surpassing 30,000 for the first time, even as signs of market saturation intensify and growth prospects dim at home. According to the National Data Policy Agency’s 2024 Franchise Statistics released on December [...]
SEJONG, Dec. 25 (Korea Bizwire) — South Korea’s Fair Trade Commission said on Thursday that major online platforms and retailers have sharply increased the financial burdens placed on suppliers, with Coupang emerging as one of the largest recipients of supplier-funded promotional payments. According to a government survey of 40 major retailers across eight distribution sectors, Coupang [...]
SEOUL, Dec. 22 (Korea Bizwire) — Recurring mislabeling of down insulation in winter jackets has once again stirred controversy in South Korea, prompting consumer groups to demand stronger oversight and tougher penalties for deceptive practices in the fashion industry. The latest dispute centers on outdoor apparel giant The North Face, operated by Youngone Outdoor, which disclosed [...]
SEOUL, Dec. 22 (Korea Bizwire) — CJ CheilJedang is stepping up efforts to introduce Korean traditional spirits to global consumers, beginning with a promotional event in New York aimed at pairing Korean liquor with contemporary Korean cuisine. The company said it recently hosted a tasting and pairing event, titled The Korean Table – Sip & Pair [...]
SEOUL, Dec. 19 (Korea Bizwire) — South Korea’s major food delivery platforms continue to place a heavy financial burden on small merchants, with commissions and related fees consuming as much as 29 percent of sales revenue, according to a new assessment released by the Seoul Metropolitan Government on Thursday. The city unveiled its first “Delivery [...]
BUSAN, Dec. 15 (Korea Bizwire) — South Korea’s Coast Guard has arrested a smuggling ring accused of importing thousands of counterfeit luxury goods from China and selling them online, prompting several global fashion houses to issue formal letters of appreciation — an unusually public response from brands that rarely acknowledge enforcement actions. The South Regional Coast [...]
SEOUL, Dec. 9 (Korea Bizwire) — Naver’s standalone AI-driven shopping app, Naver Plus Store, has emerged as the fastest-growing e-commerce platform in South Korea this year, according to a global app market analysis released Monday by Sensor Tower. From January through October, Naver Plus Store ranked No. 1 in both total downloads and download growth among [...]
SEOUL, Dec. 6 (Korea Bizwire) — The government unveiled plans Saturday to toughen the management and screening process for the state-certified information security system amid growing personal data breaches at authorized companies, such as Coupang. The Personal Information Protection Commission and the Ministry of Science and ICT discussed the measures during an interagency meeting earlier [...]
SEOUL, Dec. 5 (Korea Bizwire) — South Korean e-commerce giant Coupang is facing intensifying scrutiny after a major data leak revealed that significant portions of its Korean-language service were built and maintained by foreign developers, including sizable teams based in China. The primary suspect in the breach is a former Chinese employee who worked on the [...]