SEOUL, Apr. 17 (Korea Bizwire) – South Korea saw record-breaking imports of pineapples and mangoes last month, driven by a surge in demand for cheaper fruit alternatives as apple and pear prices remained elevated, according to trade data released on April 16 by the Korea Customs Service. Pineapple imports soared to 8,686 tons in March, a [...]
SEOUL, Apr. 16 (Korea Bizwire) — Coupang, the South Korean e-commerce giant, has significantly increased the monthly fee for its premium Wow Membership service, raising it to 7,890 won 4,990 won. This bold move has sparked an unexpected “membership war” across the retail industry, as competitors scramble to improve their own loyalty programs to retain customers [...]
SEOUL, Apr. 15 (Korea Bizwire) — Despite a significant drop in sales for major online luxury goods platforms in South Korea due to the economic downturn, the pre-owned luxury market has shown resilience, even setting a record transaction volume last month in line with the start of the new school year, industry data showed on April [...]
SEOUL, Apr. 12 (Korea Bizwire) —South Korean e-commerce giant Coupang Inc. said Friday it will raise its monthly membership fee for paid users by 58 percent, in an apparent move to secure further capital amid growing challenges from Chinese rivals. Coupang plans to charge its paid WOW membership users 7,890 won (US$5.7) starting Saturday, [...]
SEOUL, Apr. 11 (Korea Bizwire) – Korean customers who have been indulging in the thrill of bargain hunting on Chinese e-commerce platforms like AliExpress and Temu are now reacting with shock and concern following reports of carcinogenic substances detected in products purchased from these sites. On April 10, the retail industry sources reported a surge in [...]
SEOUL, Apr. 11 (Korea Bizwire) – Chinese online shopping platforms, such as AliExpress and Temu, have experienced a remarkable surge in sales, with an increase of over 130% in just six months since their entry into the South Korean market. The data reveals that transactions under 30,000 won accounted for the majority of sales, at 78% [...]
SEOUL, Apr. 10 (Korea Bizwire) — The antitrust regulator said Wednesday it has decided to order Samsung Electronics Co. to take corrective steps for interfering with the business operations of its authorized retail stores. The tech giant allegedly had demanded that its agencies provide it with their retail price information from January 2017 through September [...]
SEOUL, Apr. 8 (Korea Bizwire) — South Korea’s antitrust regulator has launched an inspection into China’s Temu shopping app on suspicions of the retail platform’s false advertising and other unfair business practices, officials said Monday. The Fair Trade Commission (FTC) recently sent documents to Temu for a probe to see if it violates South Korea’s [...]
SEOUL, Apr. 8 (Korea Bizwire) — Children’s products sold on AliExpress, one of the biggest Chinese online retail platforms, have been found to contain cancer-causing substances as much as 56 times higher than permitted levels, the Seoul city government said Monday. The city released the discovery following a recent safety examination of 31 best-selling products [...]
INCHEON, Apr. 8 (Korea Bizwire) – Alarmingly high levels of cancer-causing heavy metals have been detected in inexpensive jewelry sold on popular Chinese e-commerce platforms, prompting South Korean customs officials to crack down on the hazardous imports. The Incheon Central Customs Office announced on April 5 that tests on 404 jewelry items purchased from sites [...]