SEOUL, April 11 (Korea Bizwire) — Sales of hangover-cure drinks soar again as the operational hours of restaurants and bars are being extended and the number of private gatherings at night is increasing thanks to the government’s easing of social distancing rules, data showed Sunday. According to convenience store chain CU, sales of hangover drinks [...]
SEOUL, April 11 (Korea Bizwire) — Automotive sales channels that have been limited to offline dealers are now expanding towards retail industries, including large discount stores and online malls, amid a shift in the automotive retail paradigm. Large discount store chains E-Mart Inc. and Homeplus Co. each set up a showroom for Hyundai Motor Co.’s [...]
SEOUL, March 30 (Korea Bizwire) — South Korean furniture manufacturers are opening up ‘experiential model houses’ to boost offline demand. Hyundai Livart Furniture Co. opened up a flagship model house for the company’s total interior brand ‘Livart Home-terior’ in Gangnam, Seoul. The ‘Livart Home-terior’ service offers a one-stop solution for the interior design of kitchens, [...]
SEOUL, March 29 (Korea Bizwire) — The so-called ‘pick-up services,’ where customers can order an item online and pick it up at an offline store, are gaining popularity. A fashion store run by LF in Seoul’s Gangnam District was visited by some 1,000 customers last month to pick up the items they had ordered online. [...]
SEOUL, March 22 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it has decided to approve a deal by Korea Seven Co., the operator of 7-Eleven convenience stores, to buy its smaller rival Ministop Korea Co. In January, the country’s retail giant Lotte inked a deal to acquire a 100 percent stake in Ministop [...]
SEOUL, Feb. 16 (Korea Bizwire) — South Korea’s three major instant noodle makers saw their operating profits tumble in 2021 due largely to increased costs, their regulatory filings showed Wednesday. Nongshim Co., the leading maker of instant noodles, or “ramyeon” in Korean, said that its 2021 operating income plunged 33.8 percent from the previous year. [...]
SEOUL, Feb. 8 (Korea Bizwire) — South Korean retailers are raising caution with tightening government restrictions aimed at addressing the spread of the Omicron variant. While department stores and shopping malls have been exempted from the quarantine pass policy, they are now banned from allowing customers to eat or drink on the premises. They have [...]
SEOUL, Jan. 25 (Korea Bizwire) — The development of big data and artificial intelligence (AI) technology has resulted in a boom of customized consumer items in South Korea. A good example is the fashion industry, which is rolling out a variety of customized services. Tribons Co., a South Korean apparel manufacturer, is running an online [...]
SEOUL, Jan. 21 (Korea Bizwire) — Lotte Corp., the holding company of South Korean retail giant Lotte Group, said Friday it has acquired an entire stake of Ministop Korea Co. for 313.37 billion won (US$263 million). Under the deal, Lotte will take over 2,600 Ministop convenience store outlets across the country and 12 logistics centers [...]
SEOUL, Jan. 18 (Korea Bizwire) – Since the outbreak of the coronavirus, South Korea’s non-alcoholic beer market has been growing at a blistering pace thanks to an increase in the number of health-conscious consumers and the growth of the drinking-at-home culture. Hite Jinro Co., the country’s second-largest beverage company, had been selling between 6 and 7 million [...]