Retail & Consumer Goods Archives | Be Korea-savvy

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Controversy Looms over New Legislation to Restrict Shopping Mall Operating Hours

Controversy Looms over New Legislation to Restrict Shopping Mall Operating Hours

SEOUL, Sept. 23 (Korea Bizwire) — South Korean shopping mall operators are paying attention to the National Assembly’s upcoming decision on a new legislative bill during the regular session that starts on Thursday. The ruling party is currently pushing for stricter regulations that would require large-sized malls, so-called super supermarkets (SSMs), and shopping complexes to [...]

Sales of Annual Wintertime Shopping Festival Hit 1 tln Won

Sales of Annual Wintertime Shopping Festival Hit 1 tln Won

SEOUL, Sept. 23 (Korea Bizwire) — Sales of this year’s state-led annual wintertime shopping festival aimed at attracting foreign tourists to Korea jumped nearly 40 percent to reach the milestone of 1 trillion won (US$839 million), data showed Monday. Sales from the Korea Grand Sale 2019 came to 1.25 trillion won, compared with 900.7 billion [...]

Furniture Industry Embraces Move to Online Stores

Furniture Industry Embraces Move to Online Stores

SEOUL, Sept. 23 (Korea Bizwire) — The furniture industry is stepping up its online business. Through online markets, furniture manufacturers are able to introduce a variety of products without the limitations of space, and are in turn benefiting from lower operating costs. A notable change was made by Swedish furniture giant IKEA, which entered the [...]

Retail Giants Eye Luxury Segment to Bolster Online Biz

Retail Giants Eye Luxury Segment to Bolster Online Biz

SEOUL, Sept. 21 (Korea Bizwire) — South Korea’s retail giants are increasingly turning their eyes to the luxury segment for their e-commerce business in an apparent move to differentiate themselves from online competitors. Lotte Shopping Co., the operator of South Korea’s biggest department store and a leading discount store, opened its first online shopping mall [...]

S. Korean Franchises Subject to Stricter Restrictions than U.S.

S. Korean Franchises Subject to Stricter Restrictions than U.S.

SEOUL, Sept. 20 (Korea Bizwire) — A recent study has revealed that South Korea imposes harsher regulations on franchise owners than the United States. The Korea Economic Research Institute (KERI) said that South Korea has more than twice as many regulations on franchises than in the United States. South Korean regulations tended to focus on [...]

Fleece the Hottest Winter Apparel Trend Among Young Koreans

Fleece the Hottest Winter Apparel Trend Among Young Koreans

SEOUL, Sept. 20 (Korea Bizwire) — Fleece jackets, once popular primarily among middle-aged men, are emerging as the hottest fashion items this winter. Clothing companies preparing winter goods have not hesitated to pick fleece as their main product for this year as consumers have tired of the bench coat craze. Fleece is a thermoelectric fabric [...]

S. Koreans’ Overseas Direct Purchases Up 20 pct in First Half

S. Koreans’ Overseas Direct Purchases Up 20 pct in First Half

SEJONG, Sept. 17 (Korea Bizwire) — South Koreans’ direct purchases from foreign countries rose 20 percent in the first six months of 2019 from a year earlier as more consumers opted to buy quality goods at cheap prices, customs data showed Tuesday. South Korean shoppers bought a total of US$1.58 billion worth of foreign goods [...]

S. Korea to Ban Marketing Activities for E-cigarettes

S. Korea to Ban Marketing Activities for E-cigarettes

SEOUL, Sept. 17 (Korea Bizwire) — Cigarette manufacturers will no longer be allowed to conduct various marketing activities for electronic devices used for smoking electronic cigarettes. The Ministry of Health and Welfare announced on Monday that new legislation will soon be implemented to ban such activities. The new legislation classifies electronic cigarettes as tobacco products [...]

Shinsegae’s BoonTheShop to Open at Harrods in London

Shinsegae’s BoonTheShop to Open at Harrods in London

SEOUL, Sept. 17 (Korea Bizwire) — South Korean retail conglomerate Shinsegae Group said Tuesday its luxury fashion brand, BoonTheShop, will open at an upscale British department store. BoonTheShop will get a space on the second floor of Harrods in London, marking the first time for a local fashion brand to do so, according to Shinsegae. [...]