SEOUL, May 9 (Korea Bizwire) — Online shopping malls are increasingly competing against each other to attract customers. WeMakePrice Inc., which declared that it would provide daily necessities at the lowest prices, ignited the price competition by unveiling the results of a comparison of food prices with its rival Coupang Inc. Meanwhile TMON Inc. has [...]
SEOUL, May 9 (Korea Bizwire) — The South Korean government held a meeting on Wednesday to address foreign companies jumping on the Korean Wave bandwagon. Many foreign companies are creating fake ‘South Korean’ brands to take advantage of the Korean Wave led by BTS and K-dramas. The government will begin monitoring foreign media and social [...]
SEOUL, May 8 (Korea Bizwire) – The Incheon International Airport Corp. (IIAC) said Wednesday that arrival duty-free shops, the first of their kind in the country, will open later this month. The airport operator said two arrival duty-free shops will start operations in Terminal 1 and one in Terminal 2 on May 31. The duty-free [...]
SEOUL, May 8 (Korea Bizwire) — Italian luxury brand Fendi debuted its lively, street style fashion collection “Roma Amor” in South Korea, mixing contemporary art and its heritage to target affluent millennials, Lotte Department Store said Wednesday. Fendi, a member of global luxury fashion house LVMH, showcased its new collection at Lotte Avenuel in downtown [...]
SEOUL, May 7 (Korea Bizwire) — The number of personal mugs and tumblers used at Starbucks stores nationwide has nearly tripled since the coffee franchise introduced a discount program for users of reusable cups a year ago in accordance with a government-initiated environmental campaign, officials said Tuesday. Starbucks and 15 other coffee franchises signed a [...]
SEOUL, May 7 (Korea Bizwire) — Home furnishing is becoming a popular trend in South Korea, and an increasing number of furniture makers are trying to meet the change in demand by introducing less durable, but more affordable products. Consumers, who used to purchase expensive but durable furniture for long-term use, are now turning to [...]
SEOUL, May 7 (Korea Bizwire) – The price war between online and offline retailers, which started at the beginning of this year, is intensifying. As Emart Inc., retail giant Shinsegae’s supermarket chain operator, declared a “price for the public” strategy against Coupang, which has always been leading the price competition in the online retail industry [...]
SEOUL, Apr. 29 (Korea Bizwire) — Sales of skin cleansing products, which are essential for removing fine dust, have increased dramatically this spring as skin problems caused by fine dust have increased. Online shopping portal Auction announced on Sunday that sales of cleansing products jumped by up to 70 percent – depending on the item [...]
SEOUL, Apr. 26 (Korea Bizwire) — The fashion market in Dongdaemun, Seoul, is turning to technology to improve its competitiveness. The Seoul Metropolitan Government announced on Thursday that it held the opening ceremony of “Within 24, Show Your Style” on the second floor of the Lotte Fit-in store in Dongdaemun. “Within 24, Show Your Style” [...]
SEOUL, Apr. 26 (Korea Bizwire) — South Korea’s pet care market is estimated at US$1.57 billion this year, industry data showed Friday, with cat food being one of the major contributors. The estimate marks a 5.4 percent on-year rise from last year’s estimated $1.49 billion, and a twofold jump from 2011, industry tracker Euromonitor International [...]