SEOUL, Feb. 23 (Korea Bizwire) — Major South Korean retailers said Sunday they will partially shut down some of their outlets in Seoul for disinfection measures following recent visits by patients diagnosed with the new coronavirus. Shinsegae Department Store said its store in the posh Gangnam district will close its food court on the basement [...]
SEOUL, Feb. 21 (Korea Bizwire) — Married couples last year were found to have spent less on wedding gifts and ceremony, and paid more attention to buying home appliances instead. According to a survey of 400 men and women in their 20s and 30s who got married last year by LOTTE Members, the operator of [...]
SEOUL, Feb. 21 (Korea Bizwire) — Shopping patterns have changed since the outbreak of the new coronavirus, as demand for products to take care of one’s appearance has decreased and purchases of products related to health, hygiene and convenience have increased, the TV shopping channel said. Lotte Home Shopping Inc., a subsidiary of retail conglomerate [...]
SEOUL, Feb. 20 (Korea Bizwire) — After years of a slump and dwindling profitability, South Korean retail giants have turned their eyes to the online business in the face of growing e-commerce operators that have changed the landscape of the retail industry here. Despite the retail behemoths’ heavy spending on IT infrastructure to revamp its [...]
SEOUL, Feb. 18 (Korea Bizwire) — The e-commerce industry, which has long emphasized “fast delivery,” is now expanding its services, with competition now turning to offering “easy returns”. South Korea’s major shopping portal 11st said Monday that it has introduced a service to offset return costs caused by customers exchanging products, in which an insurance [...]
SEOUL, Feb. 18 (Korea Bizwire) — South Korea’s imports of key consumer goods from Japan fell for the seventh consecutive month in January as a boycott of Japanese goods has dragged out amid their monthslong feud over their shared wartime history, data showed Tuesday. Imports of consumer goods from Japan dipped 35.9 percent from a [...]
SEOUL, Feb. 17 (Korea Bizwire) — The home shopping industry is struggling with a constant shortage of masks due to the coronavirus outbreak. The Ministry of Science and ICT held an emergency meeting with home shopping businesses on Feb. 6, which decided to include a special program to sell masks. Hyundai Home Shopping began airing [...]
SEOUL, Feb. 17 (Korea Bizwire) — The outbreak of the novel coronavirus has placed a strain on air cargo transportation worldwide, especially on routes to and from China and the U.S., and international logistics in general have slowed. “Because of the coronavirus, the number of aircraft departing from the U.S. has been reduced due to [...]
SEOUL, Feb. 17 (Korea Bizwire) — The slump in fortunes at large discount stores is continuing and the growth of convenience stores is accelerating in line with social changes, including an increase in the number of single-person households and the rising popularity of online shopping. Amid such circumstances, convenience store chains made more money than [...]
SEOUL, Feb. 13 (Korea Bizwire) — Lotte Shopping Co., the operator of South Korea’s biggest department store chain, said Thursday it will sell assets after posting a loss for 2019, while the country’s largest discount store chain operator, Emart Inc., reported weaker than expected earnings as well. Lotte Shopping will sell 200, or 30 percent, [...]