SEOUL, Jan. 24 (Korea Bizwire) – An appellate court ruled on Wednesday against South Korea’s largest logistics firm, CJ Logistics, in a suit the company filed to reverse a national committee decision striking down CJ’s denial of collective bargaining for a delivery workers’ union. The courier union under the Korean Confederation of Trade Unions (KCTU), [...]
SEOUL, Jan. 24 (Korea Bizwire) — The Korean Customs Service has detected carcinogenic substances, including lead and cadmium, in counterfeit earrings being distributed in the country. In November of last year, the agency intercepted 142,930 items infringing intellectual property rights, including counterfeits imported into South Korea. Upon analyzing 83 products that come into direct contact with [...]
SEOUL, Jan. 23 (Korea Bizwire) — South Korea’s producer prices moved up 0.1 percent on-month in December due to the higher cost of agricultural products and gas, the central bank said Tuesday. The producer price index, a major barometer of consumer inflation, came to 121.19 last month, up from 121.02 tallied in November, according to [...]
SEOUL, Jan. 22 (Korea Bizwire) – The government announced several measures aimed at reforming regulations related to people’s livelihoods, including scrapping the policy mandating large retailers to close their stores on Sunday twice a month, officials said Monday. The announcement was made during a government-public debate, the fifth in a series of sessions, led by [...]
SEOUL, Jan. 16 (Korea Bizwire) — 11Street Co., a South Korean e-commerce company, said Tuesday it has filed a complaint with the anti-trust regulator over its bigger rival Coupang, Inc.’s alleged unfair practices. New York-listed Coupang has recently released the comparison between the maximum commission rates it receives from its product suppliers and competitors’ rates [...]
SEOUL, Jan. 13 (Korea Bizwire) –Coupang has re-established direct sales with LG Household & Health Care (LG H&H), nearly five years after the latter pulled its products from the Coupang platform following a dispute over pricing. This move comes with large manufacturers and distribution chains increasingly joining the anti-Coupang front, and Chinese shopping platforms like [...]
SEOUL, Jan. 11 (Korea Bizwire) – As it approaches its third year of being listed on the U.S. stock market, South Korean e-commerce giant Coupang is generating buzz with expectations of its first-ever profit. However, the company faces intensifying competition with the entry of Chinese shopping platforms like AliExpress, raising concerns about the slowing growth of [...]
SEOUL, Jan. 8 (Korea Bizwire) –In a bold move to overcome fierce economic headwinds, department stores and large supermarkets in South Korea are focusing on improving their offline presence, increasing experiential content in their stores to prolong customer visits and boost sales. According to industry insiders, the strategy to encourage longer stays aims to transform [...]
SEOUL, Jan. 7 (Korea Bizwire) – GS25 said Sunday it has strengthened its presence in Mongolia and Vietnam in recent years by aggressively expanding its outlets. GS Group’s convenience store chain entered the Vietnamese and Mongolia markets in January 2018 and May 2021, respectively, as part of its expansion strategy, the company said in a [...]
SEOUL, Jan. 5 (Korea Bizwire) – A conflict has erupted between Coupang, the South Korean e-commerce giant, and the Korea Economic Daily newspaper, following a series of critical articles published by the latter. Coupang has announced plans for legal action, accusing the newspaper of siding with major conglomerate-run retail companies and belittling its innovative practices. [...]