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 [...]
SEOUL, Apr. 5 (Korea Bizwire) – South Korean consumers have been rapidly embracing Chinese e-commerce platforms like Alibaba’s AliExpress and Pinduoduo’s Temu, lured by steep discounts and aggressive promotional campaigns. However, this surge in popularity has not come without concerns over product quality, delivery delays, and regulatory compliance. AliExpress, a subsidiary of the Chinese tech giant [...]
SEOUL, Apr. 4 (Korea Bizwire) – In a striking surge of market dynamics, Temu, the Chinese shopping platform, saw its South Korean user base grow by over 40% last month, closely rivaling the more established AliExpress. According to analytics services WiseApp and Mobile Index, Temu’s user count in South Korea grew from 5.8 million in [...]
SEOUL, Apr. 4 (Korea Bizwire) –Despite raking in over 1 trillion won in sales in South Korea last year, the French luxury brand Dior only donated a paltry sum to charity that paled in comparison to its immense profits in the country, according to regulatory filings. Christian Dior Couture Korea reported domestic revenue of 1.05 [...]
SEOUL, Apr. 3 (Korea Bizwire) – Following in the footsteps of AliExpress, another major Chinese e-commerce platform, Temu, announced on April 2 the establishment of its South Korean subsidiary. Named “Whaleco Korea LLC,” the new venture marks Temu’s strategic expansion into the South Korean market. The establishment of Whaleco Korea LLC on February 23rd was confirmed [...]
SEOUL, Apr. 1 (Korea Bizwire) – In a seismic shift for South Korea’s retail landscape, the e-commerce giant Coupang has surpassed the long-dominant E-Mart to become the country’s highest-ranked retail brand, according to the latest quarterly evaluation by brand consultancy BrandStock. Coupang achieved a brand stock top index (BSTI) score of 902.8, vaulting to 9th place [...]
SEOUL, Apr. 1 (Korea Bizwire) – Hyundai Department Store is venturing into a new platform business aimed at boosting the global reach of Korean fashion brands and K-content like entertainment. The retailer has launched The Hyundai Global, a dedicated export platform that will discover content for overseas markets, handle logistics like customs clearance and inventory management, [...]