SEOUL, Jul. 23 (Korea Bizwire) — Record high temperatures sweeping South Korea is causing people to change the way they shop, with more consumers opting to purchase goods at night, industry data showed Sunday. Retail data compiled by stores like E-Mart showed from July 1 through the 20th, people visiting stores from 8 p.m. to [...]
SEOUL, Jul. 21 (Korea Bizwire) — Samsung Electronics’ dedication to technology development has entered the spotlight, as tech enthusiasts and everyday consumers alike have taken notice of the company’s groundbreaking product releases like the new Wind-Free Air Conditioner. Technologies like the Wind-Free Air Conditioner (it’s exactly what it sounds like) and Samsung washing machines with [...]
SEOUL, July 21 (Korea Bizwire) – A decision by the government to raise the minimum wage next year is expected to cut profits at convenience and discount store chains, but it could help bolster consumption, according to foreign investment banks on Friday. The government has decided to hike minimum wage 16 percent to 7,530 won [...]
SEOUL, Jul. 21 (Korea Bizwire) — Online shopping is experiencing a growth surge, accounting for close to 20 percent of all retail sales in the first quarter of this year, data showed Friday. Retail transactions in the three months to March totaled 96.56 trillion won (US$85.83 billion), a growth of 4.7 percent from the same [...]
SEOUL, July 18 (Korea Bizwire) – The head of retail giant Lotte Group said Tuesday the conglomerate needs to expand investment targeting its lucrative businesses to further expand presence in the market, as it is suffering from a series of troubles at home and abroad. During a meeting with the group’s senior executives, Lotte Group [...]
SEOUL, Jul. 18 (Korea Bizwire) — South Korean retailers have moved quickly to create a favorable work environment for expecting and child-rearing mothers, including incentives for fathers, industry observers said Tuesday. Retail businesses have been fast movers in accommodating women who in most cases make up nearly half of their workforces. With the government encouraging [...]
SEOUL, Jul. 18 (Korea Bizwire) — Shinsegae Group, a retail giant in South Korea, said Tuesday it will open its third shopping mall in the northern outskirts of Seoul next month, offering a variety of options for shopping, leisure and culinary experiences. Starfield Goyang, a two-story building with four underground floors covering an area spanning [...]
SEOUL, Jul. 14 (Korea Bizwire) — Drones, once the exclusive property of the military, have gone mainstream. Now, their use is only limited by one’s imagination. Besides the military, law enforcement agencies may be the organizations that employ drones the most for their intended purpose. The police have increasingly begun to use drones to carry out [...]
SEOUL, Jul. 14 (Korea Bizwire) — BGF Retail Co., the operator of South Korea’s largest convenience store chain CU, said Friday it signed a franchise deal with an Iranian company marking the first overseas expansion for a convenience store operator. Under the agreement, home appliances firm Entekhab Investment Development Group will take charge of investment [...]
SEOUL, Jul. 14 (Korea Bizwire) — Convenience stores are emerging as the darling of South Korean lenders that are trying to cope with rising costs amid the fast-changing business environment centered on growth in online and mobile banking services. At the forefront of such a move are Internet-only banks such as K-Bank, which have no [...]