SEOUL, March 6 (Korea Bizwire) — South Korea’s first Five Guys burger restaurant is set to open in Gangnam, southern Seoul, by late June, its operator said Monday. The store set to open in the bustling commercial district near Gangnam Station, will have up to 150 seats, according to Galleria Department Store owned by Hanwha [...]
SEOUL, March 2 (Korea Bizwire) — GS25, the convenience store chain run by GS Retail Co., has reintroduced the “Kim Hye-ja” lunchbox six years after production ceased. The low-priced lunchbox was originally promoted by actress Kim Hye-ja, spearheading the lunchbox boom at South Korean convenience stores. Since it was released in September 2010, 40 different [...]
SEOUL, March 2 (Korea Bizwire) — After establishing a presence in the online payment market to foster loyal customers for their platforms, South Korea’s major retailers are now attempting to make their payment solutions available through offline channels. Gmarket’s Smile Pay is now available at Shinsegae Group’s offline stores after the company was acquired by [...]
SEOUL, Feb. 27 (Korea Bizwire) — China’s state-run duty-free operator, China Duty Free Group Co. (CDFG), has participated in the license bidding at Incheon International Airport, industry sources said Monday. Four South Korean companies — Lotte Hotel, Hotel Shilla, Shinsegae and Hyundai Department Store Duty Free — have also submitted bids for a ten-year license [...]
SEOUL, Feb. 27 (Korea Bizwire) — Retail sales in South Korea grew 4 percent on-year in January, though offline retailers saw their sales fall due to the New Year’s holiday and amid an economic slowdown, data has showed. The combined sales of 25 major offline and online retailers came to 14.7 trillion won (US$11.19 billion) [...]
SEOUL, Feb. 7 (Korea Bizwire) — South Korean department stores are enjoying a rebound in sales, as international shoppers return to the country amid eased virus restrictions. Hanwha Galleria, the department store unit of Hanwha Group, said Tuesday its luxury goods section saw sales from global customers surge more than sixfold on-year in the past [...]
SEOUL, Feb. 6 (Korea Bizwire) — Dongwon Group, a major South Korean food company, is pushing to acquire McDonald’s Korea, industry sources said Monday, in the food maker’s push to strengthen its restaurant business. Dongwon Industries Co., the holding company of the group, has been the preliminary sole bidder in the acquisition of McDonald’s Korea, [...]
SEOUL, Feb. 3 (Korea Bizwire) — South Korean convenience stores are engaging in various activities to promote eco-friendly consumption. 7-Eleven announced Thursday that it will replace all regular-sized plastic ice cups with paper cups. Following the introduction of paper ice cups in January last year, the convenience store had been offering both plastic and paper [...]
SEOUL, Feb. 2 (Korea Bizwire) — Singer Jay Park’s soju brand Won Soju will be available in New York by the early half of this year, the company said Thursday, as the K-pop singer aims for a global expansion of the traditional Korean liquor. Won Spirits Co., a soju brand founded by the K-pop singer [...]
SEOUL, Feb. 2 (Korea Bizwire) — Retail sales in South Korea rose 9.2 percent on-year in 2022 on the back of growing outdoor activities on eased social distancing rules amid the prolonged COVID-19 pandemic, the industry ministry said Thursday. The combined sales of local offline retailers rose 8.9 percent on-year from the previous year, and [...]