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, [...]
SEOUL, Mar. 29 (Korea Bizwire) — South Korea’s industrial output rose for the fourth consecutive month in February on the back of increasing semiconductor production, but retail sales fell amid high inflation, data showed Friday. Industrial output increased 1.3 percent on-month last month, following a 0.4 percent rise the previous month, according to the data [...]
SEOUL, Mar. 29 (Korea Bizwire) — Complaints filed against AliExpress, the e-commerce retail platform of China’s Alibaba Group, in South Korea nearly tripled in 2023 from a year earlier, a state-run consumer organization said Friday. The number of complaints submitted to the Korea Consumer Agency (KCA) against AliExpress jumped to 673 last year from the [...]
SEOUL, Mar. 28 (Korea Bizwire) – In an exciting collaboration with the automotive lifestyle brand Peaches, Shinsegae Department Store has announced the introduction of Harrington Cars, miniature vehicle models based on iconic designs from renowned automakers like Mercedes-Benz and Ferrari – a first in South Korea. Harrington Cars are meticulously crafted at half the size of [...]
SEOUL, Mar. 28 (Korea Bizwire) – South Korea’s e-commerce market has become the battleground for a high-stakes investment war between domestic giant Coupang and Chinese powerhouse AliExpress, as both companies aggressively pursue market dominance. The clash intensified after AliExpress, owned by the Alibaba Group, announced plans to invest $1.1 billion (1.5 trillion won) in South Korea [...]
SEOUL, Mar. 27 (Korea Bizwire) — Coupang Corp., South Korea’s leading e-commerce company, said Wednesday it will invest 3 trillion won (US$2.23 billion) for the next three years to expand its renowned “rocket delivery” nationwide in a bid to solidify its dominance in the competitive market. The plan includes the establishment of over eight fulfillment [...]
SEOUL, Mar. 27 (Korea Bizwire) – While giants like E-Mart are trimming their workforces, a clutch of discount retailers led by chains like Daiso and Chinese e-commerce platforms like AliExpress and Temu are aggressively hiring in South Korea. Their lure? Offering consumers unbeatable value for money on a wide range of merchandise. According to figures released [...]
SEJONG, Mar. 25 (Korea Bizwire) – Over the past five years, South Korean customs authorities have seized imported counterfeit goods worth over 2.1 trillion won, with products originating from China accounting for a staggering 1.8 trillion won, highlighting an influx of intellectual property violations. According to data from the Korea Customs Service released on Friday, the [...]
SEOUL, Mar. 25 (Korea Bizwire) – Alibaba Group, the Chinese e-commerce behemoth behind platforms like AliExpress, has announced plans to invest $200 million to establish a logistics center in South Korea, setting off alarm bells across the country’s e-commerce and logistics industries. The move to secure a Korean logistics hub, the first since Alibaba’s entry into [...]