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S. Korea’s Mid-sized Cosmetics Firms Report Weak Earnings in Q3

S. Korea’s Mid-sized Cosmetics Firms Report Weak Earnings in Q3

SEOUL, Nov. 18 (Korea Bizwire) — South Korea’s mid-sized cosmetics companies suffered losses in the third quarter of this year as they strived to reform their business structures in the face of tough competition at home, industry sources said Sunday. Able C&C, which operates budget cosmetics brand Missha, swung to the red in the July-September [...]

Turkish Version of Popular Korean E-commerce Website a Hit

Turkish Version of Popular Korean E-commerce Website a Hit

SEOUL, Nov. 15 (Korea Bizwire) — An annual sale offered on November 11 by the Turkish edition of the popular Korean e-commerce website 11Street has become Turkey’s most popular “shopping day” just three years after it was first held. The website known as n11 (www.n11.com) revealed yesterday that it had recorded approximately 50 billion won [...]

Millions of ‘Idol Sandwiches’ Sold Only Months After Their Debut

Millions of ‘Idol Sandwiches’ Sold Only Months After Their Debut

SEOUL, Nov. 13 (Korea Bizwire) — So-called ‘idol sandwiches,’ known to be favored by certain K-pop stars, are selling like hotcakes at convenience stores. GS25, a major convenience store franchise, said that YouUs Idol’s Favorite Sandwich topped all food sales charts just two and a half months after its release, with more than 5 million [...]

Lotte Mart Adopts QR Codes to Increase Synergy

Lotte Mart Adopts QR Codes to Increase Synergy

SEOUL, Nov. 12 (Korea Bizwire) — Lotte Mart announced on Sunday that it will adopt QR codes for all merchandise being sold at the store, which will allow customers to use their smartphones to access detailed information as well as customer reviews about each product. The company will also provide online ordering services to customers [...]

Korean Customs Targets Illegal Resale of Overseas Direct Purchases

Korean Customs Targets Illegal Resale of Overseas Direct Purchases

SEOUL, Nov. 12 (Korea Bizwire) — The Korean Customs Service (KCS) has launched a crackdown on illegal imports and the resale of imported products until November 28 as transactions via foreign direct purchasing are expected to jump due to China’s annual Singles Day. The KCS will be focusing on the act of reselling products acquired [...]

S. Korean Version of Lemon Laws to Go into Effect Next Year

S. Korean Version of Lemon Laws to Go into Effect Next Year

SEOUL, Nov. 12 (Korea Bizwire) — The South Korean version of U.S. lemon laws is set to go into effect next year as the government moves to strengthen consumers’ rights, the transport ministry said Monday. Under the lemon laws in the United States, those who purchase cars and other consumer goods that repeatedly fail to [...]

KCA Cautions Against Foreign Household Appliances, Despite Attractive Prices

KCA Cautions Against Foreign Household Appliances, Despite Attractive Prices

SEOUL, Nov. 2 (Korea Bizwire) — Of the many foreign-made household appliances that can be purchased directly from foreign e-commerce websites, electric stoves and vacuum cleaners were found to be cheaper on foreign websites, while air purifiers produced overseas were cheaper on local websites. According to a comparison survey by the Korea Consumer Agency (KCA) [...]

Bodyfriend Introduces World’s First “Brain Massage” Function

Bodyfriend Introduces World’s First “Brain Massage” Function

SEOUL, Oct. 31 (Korea Bizwire) — Bodyfriend Inc., the manufacturer of massage chairs, has revealed that its new massage chairs feature the world’s first “brain massage” function. At a press conference yesterday at the Four Seasons Hotel in Seoul, Bodyfriend introduced the massage chairs equipped with the brain massage function. According to Bodyfriend, the brain [...]

E-Mart Announces Adoption of Eco-friendly Packaging

E-Mart Announces Adoption of Eco-friendly Packaging

SEOUL, Oct. 30 (Korea Bizwire) — E-Mart Inc. revealed yesterday that it will be adopting eco-friendly packaging that would allow plastic containers belonging to its own brand products to be recycled with ease. Colored plastic bottles and caps will be replaced with colorless plastic. In addition, product labels will be made easier to remove. E-Mart [...]

Lotte to Invest 50 Tln Won, Create 70,000 New Jobs in Next 5 Years

Lotte to Invest 50 Tln Won, Create 70,000 New Jobs in Next 5 Years

SEOUL, Oct. 23 (Korea Bizwire) — Lotte Group said Tuesday it will invest 50 trillion won (US$44 billion) and create 70,000 new jobs in the next five years in its first major business decision after its chief returned to the helm of South Korea’s fifth-largest conglomerate. Lotte Corp., the business group’s holding firm, said that [...]