SEOUL, Dec. 13 (Korea Bizwire) — South Korea’s online shopping malls are expected to post a combined 1 trillion won (US$915 million) operating loss this year as they offer excessive discounts in a competition with rivals to dominate the growing market, industry sources said Wednesday. The rising losses over the past few years come amid [...]
SEOUL, Dec. 12 (Korea Bizwire) — Hotel Shilla Co. partially began operating its duty-free chain at the Hong Kong International Airport on Tuesday, expanding its overseas foothold in the business, the company said. The operator of Shilla Duty Free secured the business license for the fragrance, cosmetics and fashion accessories zone at the airport earlier [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korean government officials announced plans on Sunday for a certification system that will help protect South Korean products exported to China and crack down on counterfeit goods. The move comes after the Korea Trade Network (KTNET), the country’s paperless trade platform provider, signed a business agreement with the China [...]
SEOUL, Dec. 8 (Korea Bizwire) — Shinsegae Group vice chairman Chung Yong-jin’s business acumen is making headlines, with the success of the Starfield shopping complexes and the decision to cut employee working hours down to 35 per week from next year. The plan to slash working hours to help improve employee work-life balance was announced [...]
SEOUL, Dec. 8 (Korea Bizwire) — The government has announced plans to ban the sale of vaporizer multivitamin products for adolescents from next week, over fears that they could act as a gateway to tobacco products. The Ministry of the Gender Equality and Family (MOGEF) on Thursday announced the ban, which will see those who [...]
SEOUL, Dec. 8 (Korea Bizwire) — South Korea’s retail giant Shinsegae said Friday it will reduce its employees’ working hours to 35 per week starting next year as part of its efforts to improve their work-life balance. It will mark the first case for a local conglomerate to adopt the 35-hour working week policy, when [...]
SEOUL, Dec. 8 (Korea Bizwire) — The Ministry of Food and Drug Safety approved the sale of menstrual cup ‘FemmyCycle’ in South Korea on Thursday, meaning it could be available at retailers as soon as next month. FemmyCycle, which is produced by U.S. company Femcap, is the first menstrual cup product to be sold in South [...]
SEOUL, Dec. 7 (Korea Bizwire) – Health industry exports of pharmaceuticals, cosmetics, medical equipment will have grown by 14.3 percent compared to last year to reach $11.7 billion when 2017 draws to a close. The Ministry of Health and Welfare disclosed on December 7 that it had derived its estimates from canvassing experts’ opinions as [...]
SEOUL, Dec. 6 (Korea Bizwire) – South Korean retail giant Shinsegae is striving to bring more people out to offline malls as local consumers increasingly opt for online shopping, industry sources said Wednesday. In late May, the retailer launched an open library at the Convention and Exhibition Center (COEX) in southern Seoul as part of its efforts to attract more shoppers to its shopping complex Starfield [...]
SEOUL, Dec. 6 (Korea Bizwire) – Quick and easy to prepare microwavable meals, also called home meal replacements, are particularly popular among those in their 20s and 30s, research has found. Instant rice like food company CJ’s Hetbahn and frozen dumplings were the two meal replacements most searched for on the Naver search engine’s shopping [...]