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Non-alcoholic Beer Enjoys Rising Popularity in Pandemic Era

Non-alcoholic Beer Enjoys Rising Popularity in Pandemic Era

SEOUL, Jan. 18 (Korea Bizwire) – Since the outbreak of the coronavirus, South Korea’s non-alcoholic beer market has been growing at a blistering pace thanks to an increase in the number of health-conscious consumers and the growth of the drinking-at-home culture. Hite Jinro Co., the country’s second-largest beverage company, had been selling between 6 and 7 million [...]

Retailers’ In-house Brand Products Gain Popularity as Inflation Rises

Retailers’ In-house Brand Products Gain Popularity as Inflation Rises

SEOUL, Jan. 13 (Korea Bizwire) — With inflation picking up, the popularity of private-brand (PB) products developed in-house by large discount stores, convenience store chains and online malls is rising at a rapid pace. PB products, in general, minimize logistics and advertising costs, and are thereby usually cheaper than other products made by big-name companies. [...]

Retailers Pour Investment into Secondhand Products Trading Platforms

Retailers Pour Investment into Secondhand Products Trading Platforms

SEOUL, Jan. 12 (Korea Bizwire) — South Korea’s major retailers are making a string of investments in secondhand marketplace platforms. Bungaejangter, the operator of the country’s first secondhand transactions app, recently attracted an investment of 82 billion won (US$68.9 million). In the latest investment round, retail giant Shinsegae Group participated as a new investor through [...]

Large Discount Store Chains See Renovations as Cure for Underperforming Outlets

Large Discount Store Chains See Renovations as Cure for Underperforming Outlets

SEOUL, Jan. 10 (Korea Bizwire) — South Korea’s large discount store chains are shifting strategy from shutting down underperforming outlets towards ramping up their competitiveness through renovations. Lotte Mart, the hypermarket chain operated by retail giant Lotte, is planning to renovate about 20 to 30 outlets this year, according to industry sources. For the renovated [...]

Retail Industry Ramps Up ‘Tiger’ Marketing in the Year of the Tiger

Retail Industry Ramps Up ‘Tiger’ Marketing in the Year of the Tiger

SEOUL, Jan. 3 (Korea Bizwire) — As the Year of the Tiger in the Chinese zodiac begins, the retail industry is promoting a variety of products using tiger characters. Shinsegae Department Store showed off a variety of products with tiger designs for babies, toddlers and children. The retailer teamed up with premium children’s clothing brand [...]

Retailers Leverage Big Data to Boost Delivery Competitiveness

Retailers Leverage Big Data to Boost Delivery Competitiveness

SEOUL, Dec. 21 (Korea Bizwire) — South Korean retailers are beefing up investment to introduce new technology that can contribute to minimizing delivery time, personnel and energy as a way to complete delivery within the shortest possible time. GS Retail Co. acquired a 1.3 percent stake in Kakao Mobility Corp. for 65 billion won (US$54.5 [...]

Foreign Tobacco Firms Embrace Eco-friendly Programs to Promote ESG Management

Foreign Tobacco Firms Embrace Eco-friendly Programs to Promote ESG Management

SEOUL, Dec. 14 (Korea Bizwire) — Foreign tobacco companies have launched eco-friendly programs to promote environmental, social and governance (ESG) management. Philip Morris Korea is replacing packaging materials such as tape and bubble wrap that are used for the delivery of its IQOS tobacco heating device with eco-friendly paper materials on a gradual basis. It [...]

Retailers Jump into Upcycling Business

Retailers Jump into Upcycling Business

SEOUL, Dec. 8 (Korea Bizwire) — Retailers are going beyond recycling to introduce upcycled products, so as to go beyond reusing old products to turn them into value-added merchandise. Hyundai Department Store Co. used old banners displayed on the outer walls of the store for advertisement and promotion to make upcycled bags, which are available [...]

Fully Automated Emart24 Convenience Store Detects Emergencies

Fully Automated Emart24 Convenience Store Detects Emergencies

SEOUL, Nov. 25 (Korea Bizwire) — Convenience store chain Emart24 said Wednesday that it has introduced an emergency detection system and cigarette vending machines at its fully automated Smart Coex store in southern Seoul to maximize security and convenience. The emergency detection system is capable of detecting various emergencies including customers collapsing or property damage [...]