SEOUL, Dec. 6 (Korea Bizwire) – Chinese e-commerce platform AliExpress said Wednesday it plans to invest 10 billion won (US$7.6 million) in South Korea over the next three years to better protect the intellectual property rights of South Korean brands on its platform. Ray Zhang, head of the Korean unit of AliExpress, made the remarks [...]
SEOUL, Dec. 6 (Korea Bizwire) – A unique convenience store offering a diverse selection of over 200 ramen varieties has made its debut. Convenience store chain CU launched the industry’s inaugural ‘K-Ramen Specialty Convenience Store’ in Hongdae, Mapo-gu, Seoul, centering its theme around ramen—a product category that has been a driving force behind recent convenience store [...]
SEOUL, Nov. 21 (Korea Bizwire) – After becoming nuisances at department stores due to the growth of online shopping, young fashion brands are turning into cash cows amid an economic slump and consumption polarization. Young fashion brands, which cater to the consumption trend of the MZ generation with high cost efficiency and trendy design, are enjoying [...]
SEOUL, Nov. 21 (Korea Bizwire) – Last Saturday, LG Electronics experienced a rapid sell-out of 300 limited edition Standby Me Go units within just nine minutes of their release on the company’s online brand shop. This exclusive release was in celebration of the LG Twins baseball club’s Korean Series victory, led by LG Chairman Koo Kwang-mo, [...]
SEOUL, Nov. 21 (Korea Bizwire) – While Costco, the U.S. warehouse discount store, achieved a milestone in South Korea with annual sales exceeding 6 trillion won for the first time, its social contributions in the country have dwindled. Moreover, the company remitted a dividend to its U.S. headquarters that surpassed its annual operating profit. Costco Korea’s [...]
SEOUL, Nov. 15 (Korea Bizwire) – With the home shopping industry facing significant challenges, major players in Korea are grappling with a somber third-quarter performance. The primary culprits behind this downturn include dwindling television viewership and the growing burden of broadcasting fees, which home shopping companies must bear to maintain channels on pay-TV networks. Notably, the [...]
SEOUL, Nov. 13 (Korea Bizwire) – During periods of inflated prices, a phenomenon known as “shrinkflation” emerges, wherein companies opt to decrease the quantity of their products instead of increasing the price. This term, a fusion of “shrink,” implying a reduction in quantity, and “inflation,” signifying a rise in prices, reflects this strategy. When confronted with [...]
SEOUL, Nov. 9 (Korea Bizwire) – The National Human Right Commission on Thursday recommended mega coffee chain Starbucks provide sign language services or install kiosks at its drive-through stores to ensure equal access for the hearing-impaired and customers with language challenges. The recommendation was in response to a petition filed by hearing-impaired customers and others [...]
SEOUL, Nov. 9 (Korea Bizwire) – On Thursday, Shinsegae Department Store illuminated Christmas decorations at its locations nationwide, including the dazzling media facade of its headquarters. This year, the decorations at the headquarters have been elevated to new heights, surpassing the magnificence of previous years. The exterior media facade of the main store now boasts [...]
SEOUL, Nov. 8 (Korea Bizwire) – E-Mart 24, well-known for its innovative offerings like imported cars, karaoke boxes, screen golf facilities, and electric vehicles, is now venturing into a new market by introducing prefabricated houses. Convenience store chain E-Mart 24 unveiled on Wednesday a groundbreaking partnership with YMK General Construction, a leading general contractor, to [...]