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Shinsegae to Launch Integrated Online Shopping Firm SSG.COM in March

Shinsegae to Launch Integrated Online Shopping Firm SSG.COM in March

SEOUL, Feb. 25 (Korea Bizwire) — Shinsegae Group, the operator of South Korea’s biggest discount store chain Emart, said Monday that it will integrate its online shopping mall operations into SSG.COM from next month to boost sales. The retail conglomerate will launch SSG.COM, an integrated company of two online shopping stores — the Shinsegae mall [...]

E-Mart to Focus on Online Sales, Convenience Stores

E-Mart to Focus on Online Sales, Convenience Stores

SEOUL, Feb. 14 (Korea Bizwire) — E-Mart Inc., South Korea’s largest hypermarket chain, said Thursday that it aims to raise its online sales by 30 percent this year, and open more convenience stores. The retail giant, part of Shinsegae Group, also will further nurture its warehouse store, E-Mart Traders. The company expects its sales for [...]

S. Korea’s First Profit-sharing Agreement Signed with Cambodia

S. Korea’s First Profit-sharing Agreement Signed with Cambodia

SEOUL, Feb. 14 (Korea Bizwire) — South Korea’s National Institute of Biological Resources (NIBR) signed a profit-sharing agreement today with Hansolbio Co. and the Cambodian Ministry of Agriculture, Forestry and Fisheries at the InterContinental Seoul COEX. The agreement will serve as a first case of profit sharing, where companies, using foreign biological resources they have [...]

Products Recalled Overseas Sold in S. Korea

Products Recalled Overseas Sold in S. Korea

SEOUL, Feb. 13 (Korea Bizwire) — More than 130 overseas products that had been recalled in other countries for safety reasons were sold in the local market last year, the Korea Consumer Agency said Wednesday. The agency recommended sales suspension, product exchanges, free repairs and other remedy measures on 132 such products in 2017, up [...]

Court Rules 1+1 Promotions are Not ‘False Advertising’ if the Product is Cheaper than the Original Price

Court Rules 1+1 Promotions are Not ‘False Advertising’ if the Product is Cheaper than the Original Price

SEOUL, Feb. 11 (Korea Bizwire) — A South Korean court has ruled that 1+1 purchasing events cannot be seen as ‘exaggerated advertisements’ if the price of the product is cheaper during the event. Seoul High Court, in a case filed by hypermarket chain operators Homeplus Co. and Homeplus Stores Co. against the Fair Trade Commission [...]

Valentine’s Day Gifts Switching from DIY to Imports

Valentine’s Day Gifts Switching from DIY to Imports

SEOUL, Feb. 11 (Korea Bizwire) — Valentine’s Day chocolate givers are switching back to buying packaged sweets instead of making their own, according to sales records from a leading online mall on Monday. Auction, an open market internet mall, tracked chocolate sales in the Jan. 25-Feb. 7 period from 2015 to 2019. Results showed that [...]

Men Drive Jump in Sales of Lingerie on Valentine’s Day

Men Drive Jump in Sales of Lingerie on Valentine’s Day

SEOUL, Feb. 7 (Korea Bizwire) — According to Shinsegae Department Store’s survey of sales of women’s lingerie during Valentine’s Day last year, sales grew 17.8 percent in two weeks, which was 10 times higher than the annual average. The department store reported on Wednesday that women’s under garments were as popular as chocolate when it [...]

Successful Early Morning Delivery Services Raise New Social Problems

Successful Early Morning Delivery Services Raise New Social Problems

SEJONG, Jan. 31 (Korea Bizwire) – Early morning delivery service, while contributing to growth in annual sales of as much as 16 percent last year among South Korean online shopping malls, is also leading way to new social problems. The Ministry of Trade, Industry and Energy announced on Wednesday that major retailers saw sales increased by an [...]

Retail Shops Suffer as Cosmetics Industry Begins Transformation

Retail Shops Suffer as Cosmetics Industry Begins Transformation

SEOUL, Jan. 28 (Korea Bizwire) — Retail cosmetics shops that have been the drivers of the ‘K-Beauty’ industry for the past 15 years are facing a crisis, exposing their limitations. The cosmetics industry is undergoing a series of transformations due to decreased demand from China and a change in distribution structure resulting from stagnant domestic [...]