SEOUL, Oct. 25 (Korea Bizwire) — South Korean retail companies are engaged in a fierce battle with Japanese companies in the Vietnamese market, which has emerged as a “post-China.” According to the Korea Trade-Investment Promotion Agency, Vietnam’s retail industry has been growing rapidly, with an annual average growth rate of 10.9 percent between 2013 and [...]
SEOUL, Oct. 24 (Korea Bizwire) — MUMUSO, a Chinese distributor of daily supplies accused of imitating a Korean brand, is turning a blind eye to the recent government order to shut down its Korean branch. MUMUSO opened a branch office in South Korea in 2014. As it turns out, however, the office only existed on [...]
SEOUL, Oct. 24 (Korea Bizwire) – Competition between domestic and overseas online retail companies is unfair, and industry support systems need to be overhauled to preempt the global e-commerce market, according to a recent study. According to a report commissioned by the Korea Economic Research Institute to Prof. Jung Yeon-sung of Dankook University, obstacles to the development [...]
SEOUL, Oct. 24 (Korea Bizwire) — South Korea will launch a nationwide shopping festival next month in conjunction with major shopping malls and retailers to attract overseas tourists and boost domestic consumption, the event’s organizers said Thursday. The annual Korea Sale FESTA will kick off for a 22-day run on Nov. 1, according to the [...]
SEOUL, Oct. 24 (Korea Bizwire) — GS25, a South Korean convenience store chain owned by GS Retail, said Thursday it has suspended sales of four flavored e-cigarettes, a day after the government strongly advised people not to use such vaping products over serious health risks. Health and Welfare Minister Park Neung-hoo on Wednesday advised people [...]
SEOUL, Oct. 23 (Korea Bizwire) — South Korea on Wednesday strongly advised people not to use flavored e-cigarettes, joining a wave of nations around the world that have imposed tougher regulations amid growing health risks linked to vaping. South Korea’s Health and Welfare Minister Park Neung-hoo said the government also immediately banned teenagers from using [...]
SEOUL, Oct. 21 (Korea Bizwire) — Japanese fashion retailer Uniqlo is coming back to strengthen its presence in the South Korean market after a setback caused by the boycott movement against Japanese products that began last July. Uniqlo’s new commercial, however, has rekindled controversy following complaints that the ad made fun of Japanese sex slaves. [...]
SEOUL, Oct. 21 (Korea Bizwire) — E-mart Inc., South Korea’s largest hypermarket chain, said Monday that it has named Kang Heui-seok, a partner at Bain & Company, as its new chief executive as the company grapples with declining sales. Kang, a key member of Bain’s retail and consumer products, will head E-Mart in the wake [...]
SEOUL, Oct. 21 (Korea Bizwire) — The annual Korea Sale FESTA (KSF), which has failed to gain popularity among manufacturers and consumers in the past, faces another challenge this year. Department stores have reported that they will not take part in the event this year. The KSF is a nationwide shopping festival involving major retailers, [...]
SEOUL, Oct. 20 (Korea Bizwire) — Japanese fashion retailer Uniqlo said Sunday that it will suspend a new advertisement following allegations that the advertisement defamed victims of Japan’s wartime sexual slavery. Uniqlo’s latest commercial, aired globally, sparked suspicions in South Korea that it could be intended to ridicule sexual slavery victims due to a difference [...]