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Archive by category Retail & Consumer

Sales of Transportation Sector Rise for Two Straight Years in 2016

SEJONG, Nov. 22 (Korea Bizwire) – Sales at South Korea’s transportation sector gained ground for two years in a row last year on an increase in land and air services, government data showed Wednesday. The combined sales of local transportation firms totaled 141.2 trillion won (US$129.4 billion) in 2016, up slightly from 140.9 trillion won tallied a year ago, according to the data compiled by Statistics Korea. The 2016 figure marked the [...]

Samsung SDS’s Makes Foray into Chinese Distribution Industry

SEOUL, NOV. 22 (Korea Bizwire) – Samsung SDS is branching out into the Chinese distribution industry after signing a business agreement with the Guangzhou Post Office. The latest move by Samsung’s information technology affiliate will see the company work with Chinese shopping websites to deliver products around the globe. According to industry statistics, China’s e-commerce market [...]

S. Korean Fashion Firms Accelerate Restructuring amid Slump

SEOUL, Nov. 22 (Korea Bizwire) — South Korean fashion companies are accelerating their move to trim unprofitable brands amid a prolonged domestic slump, industry sources said Wednesday. Handsome Corp., the apparel unit of Hyundai Department Store Group, said it is in the process of closing down one of its brands, Mothan. “It is part of [...]

First Apple Store in South Korea Expected to Open in Gangnam Next Month

SEOUL, Nov. 22 (Korea Bizwire) — The first Apple Store in South Korea is expected to open in Gangnam sometime in December, according to industry insiders. According to sources close to the mobile industry, the U.S. smartphone giant is expected to open its very first South Korean store in Sinsadong on Garosu-gil . South Korea’s first [...]

Lotte Chairman Sells 214 Bln Won Worth of Shares in Retail Unit

SEOUL, Nov. 21 (Korea Bizwire) – Lotte Shopping Co., the retail affiliate of South Korea’s fifth-largest conglomerate Lotte, said Tuesday that the group chairman sold part of his holdings in the company for 214.6 billion won (US$196 million). Chairman Shin Dong-bin unloaded over 1 million shares of Lotte Shopping after the local stock market closed, [...]

S. Korean Retailer Opens 1st Convenience Store in Iran

SEOUL, Nov. 21 (Korea Bizwire) — BGF Retail Co., the operator of South Korea’s largest convenience store chain CU, said Tuesday it has opened a store in Iran, marking the first overseas expansion for a local convenience store operator. The launch of the store in Tehran came about four months after the company signed an [...]

Black Friday Looms Large for Overseas Direct Purchase Firms and Local Retailers

SEOUL, Nov. 21 (Korea Bizwire) – As November 24 or “Black Friday” inches closer, local retailers are rolling out limited time discounts in what is expected to be a boom year for overseas direct purchases. Overseas direct purchasing companies enable customers to procure goods at local prices and have their products shipped directly to their [...]

KT&G Launches Sales of New Tobacco-heating Device

SEOUL, Nov. 21 (Korea Bizwire) — KT&G Corp. South Korea’s leading cigarette maker, on Monday officially began selling its new tobacco-heating device, amid growing popularity of heat-not-burn (HNB) products in the country. The new product, dubbed lil, heats up tobacco leaves without generating smoke using battery power, according to the company. KT&G said the 10,000 [...]

S. Korea Sees Jump in E-cigarette Shipments This Year

SEOUL, Nov. 20 (Korea Bizwire) — South Korea saw shipments of electronic cigarettes soar this year on their growing popularity among smokers amid a tumble in sales of conventional tobacco, government data showed Sunday. According to the data from the finance ministry, shipments of electronic cigarettes, including Phillip Morris’ IQOS and British American Tobacco’s Glo, [...]

Naver Line Helps Users Avoid Awkward Misplaced Messages

SEOUL, Nov. 17 (Korea Bizwire) –Naver Line has jumped ahead of its fellow South Korean instant messaging service KakaoTalk by upgrading its text delete capabilities. Previously, deleting a wrongly sent text would only make the mistake disappear on the sender’s screen, but the message would remain on the recipient’s device. After the announcement made by [...]