SEOUL, July 25 (Korea Bizwire) – The personal information watchdog fined AliExpress, a Chinese e-commerce retail platform, 1.9 billion won (US$1.37 million) on Thursday for leaking the personal information of South Korean customers to about 180,000 overseas sellers without informing them. The Personal Information Protection Commission approved the decision during its plenary meeting, marking the [...]
SEOUL, July 23 (Korea Bizwire) – Hyundai Premium Outlet announced on July 23 that it will pilot an artificial intelligence service called ‘AI Human’ at its Songdo location until August 18, aiming to enhance the shopping experience for international customers. Developed in collaboration with DeepBrain AI, a specialist in generative AI technology, the service offers voice-based [...]
SEOUL, Jul. 22 (Korea Bizwire) — Alibaba.com, China’s largest online marketplace, said Monday it will open an exclusive website for South Korean companies next month, reflecting a growing demand from B2B buyers for Korean-made products. Korean products have been available at the Chinese platform, but there has been no such site that showcases only the [...]
SEOUL, Jul. 18 (Korea Bizwire) – Homeplus, a major South Korean retailer, has announced the closure of two stores, sparking protests from its labor union over what it sees as a broader trend of store closures and asset liquidation. According to industry sources on July 17, Homeplus informed employees through its internal network that it would [...]
SEOUL, Jul. 16 (Korea Bizwire) – South Korea’s online luxury goods market has experienced a sharp decline, with sales dropping by more than 30% in the first quarter of 2024 compared to the same period two years ago, according to recent data. This downturn is largely attributed to the impacts of high inflation and interest rates. [...]
SEOUL, Jul. 15 (Korea Bizwire) – The Korea Consumer Agency has issued a warning to consumers, urging them to thoroughly test and review contract terms before purchasing medical devices such as massage chairs, massagers, and hearing aids. This comes in response to a steady stream of consumer complaints and dissatisfaction with these products. According to data [...]
SEOUL, Jul. 10 (Korea Bizwire) – In a bid to capture the attention of younger consumers, South Korea’s home shopping industry is racing to produce short-form content, leveraging artificial intelligence to transform hour-long live broadcasts into bite-sized videos for mobile apps and YouTube. Leading the charge, Shinsegae Live Shopping announced on July 9 that it would [...]
SEOUL, Jul. 9 (Korea Bizwire) – Lotte Mall West Lake Hanoi, a massive commercial complex praised by Lotte Group Chairman Shin Dong-bin as a market-leading business model, has surpassed 200 billion won (approximately $150 million) in cumulative sales less than a year since its opening. The mall’s success is largely attributed to its innovative merchandising strategy, [...]
SEOUL, Jul. 8 (Korea Bizwire) – In a surprising turn of events, private label (PB) home appliances are making significant inroads into the South Korean market, traditionally dominated by major corporate brands. This trend, driven by cost-conscious consumers amid high inflation, is reshaping the landscape of the home appliance industry. A prime example of this shift [...]
SEOUL, Jul. 8 (Korea Bizwire) – As sweltering heat and monsoon rains intensify, convenience stores and supermarkets in South Korea are turning to home delivery services to capture customers reluctant to venture out in inclement weather. Convenience stores and corporate supermarkets, known for their proximity to residential areas — so close that Koreans joke about going [...]