SEOUL, Sept. 3 (Korea Bizwire) — South Korea’s major discount store chain Homeplus Co. said Wednesday it will close 15 stores by December while cutting operating hours at others as part of belt-tightening efforts by the ailing retail company. Under the plan, Homeplus will shut five locations in mid-November and 10 others in December, the [...]
SEOUL, Sept. 2 (Korea Bizwire) — Orion’s flagship K-snack, Turtle Chips, has secured shelf space in all 1,200 Carrefour stores across France, marking the first time a single Korean snack brand has been simultaneously stocked in every outlet of the French retail giant. The breakthrough comes after Carrefour’s buyers gave the four-layered snack high marks for [...]
SEOUL, Sept. 2 (Korea Bizwire) — Hyundai Department Store said Monday it will stage a special “The Hyundai Global Stage” at the upcoming Tokyo Girls Collection (TGC), marking the first time the Japanese fashion showcase will dedicate a runway to Korean brands. The event, set for Sept. 6 at Saitama Super Arena near Tokyo, is Japan’s [...]
SEOUL· SEJONG, Aug. 31 (Korea Bizwire) — AliExpress, the Chinese e-commerce platform, has been hit with a multimillion-dollar penalty in South Korea for misleading customers with inflated discount claims on thousands of products. The Fair Trade Commission (FTC) said Sunday it imposed corrective orders and fines totaling 20.93 billion won ($15.5 million) after finding that [...]
SEOUL, Aug. 19 (Korea Bizwire) — Hyundai Department Store Co. said Tuesday it will open its first retail outlet in Japan next month as part of its global expansion strategy to promote Korean brands. The Hyundai Global retail store will be located in the Shibuya Parco shopping mall in Tokyo, with plans to rotate featured [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korea’s antitrust regulator has fined the operator of Burger King Korea 300 million won ($217,000) for forcing franchisees to buy tomatoes and cleaning products from designated suppliers without proper disclosure — even imposing penalties up to store closure for noncompliance. The Fair Trade Commission (FTC) said on Wednesday it [...]
SEOUL, Aug. 7 (Korea Bizwire) — BGF Retail, operator of South Korea’s CU convenience stores, announced on Thursday a new accessibility initiative designed to assist visually impaired customers with in-store shopping. In partnership with social venture Tuat, the company has integrated a CU-specific mode into the Android version of Sullivan Plus, an AI-powered visual assistance app [...]
SEOUL, July 30 (Korea Bizwire) — South Korea’s convenience store chains reported double-digit sales growth in the first week following the rollout of government-issued consumption coupons, with customers increasingly turning to nearby stores for everyday shopping. According to industry data released Tuesday, the four major operators — CU, GS25, 7-Eleven, and Emart24 — saw weekly [...]
SEOUL, July 29 (Korea Bizwire) — A sweltering heatwave over the weekend sent South Koreans flocking to air-conditioned department stores and shopping malls, leading to a double-digit surge in sales at major retailers. In contrast, large discount chains saw a dip in revenue, despite government-issued consumer coupons aimed at reviving domestic spending. According to industry data [...]
SEOUL, June 30 (Korea Bizwire) — Major South Korean retailers have launched special pop-up stores and exclusive tie-in merchandise in collaboration with the newly released third season of Netflix’s hit series “Squid Game,” according to industry officials Monday. GS25, the convenience store chain operated by GS Group, has partnered with Netflix to showcase new collaborative [...]