SEOUL, Jan. 7 (Korea Bizwire) — Shinsegae Group and China’s Alibaba Group have joined forces to form a strategic e-commerce alliance, a move that has drawn close attention from Coupang, South Korea’s market leader in online retail. The partnership, announced on January 6, could significantly alter the competitive dynamics of the e-commerce sector. Coupang’s senior [...]
SEOUL, Jan. 2 (Korea Bizwire) — CJ Logistics, South Korea’s leading courier company, will begin offering seven-day delivery services starting January 5, 2025, a move expected to heighten competition in the nation’s e-commerce market. Previously, consumers faced delivery restrictions on Sundays and holidays, totaling about 70 non-delivery days per year. Only Coupang, with its proprietary logistics [...]
JEJU, Dec. 30 (Korea Bizwire) — Jeju’s government-run food delivery app Mukkebi has achieved a milestone of over 10 billion won ($7.5 million) in cumulative transactions just two years after its launch in December 2022. According to the Jeju Provincial Government, as of December 23, 2024, the platform has registered 44,064 members and 3,352 partner restaurants. [...]
SEOUL, Dec. 27 (Korea Bizwire) — Shinsegae Group has announced a strategic partnership with China’s Alibaba Group, forming a joint venture to bolster its position in South Korea’s highly competitive e-commerce market. The new entity, “Grand Opus Holding,” will launch in 2025 with equal ownership between Shinsegae and Alibaba’s international subsidiary. The partnership integrates Shinsegae’s [...]
SEOUL, Dec. 11 (Korea Bizwire) – CJ OnStyle, a major South Korean home shopping channel, has cut ties with three cable TV operators—D’Live, ABN (Areum Broadcasting Network), and CCS Chungbuk Broadcasting—after negotiations over broadcasting fees collapsed. The unprecedented move has drawn attention, with industry insiders attributing the decision to CJ OnStyle’s strategic pivot toward mobile [...]
SEOUL, Dec. 5 (Korea Bizwire) – CJ OnStyle, a major South Korean online retailer, has identified “newmiliar” as the defining consumer trend of 2024, describing a preference for products that combine familiarity with innovative twists. The term “newmiliar,” a portmanteau of “new” and “familiar,” emerged from the company’s analysis of sales data across its most popular [...]
SEOUL, Dec. 2 (Korea Bizwire) – South Korea’s Fair Trade Commission (FTC) is taking action against Coupang, Naver, and Market Kurly for allegedly hindering consumers from canceling their paid memberships. Coupang, in particular, faces additional scrutiny for using deceptive “dark patterns” in its membership pricing and cancellation processes. Coupang’s “Wow Membership” program allegedly made mid-term cancellations [...]
SEOUL, Nov. 29 (Korea Bizwire) — One in three South Korean consumers has experienced issues while shopping online, a government survey showed Friday, underscoring the need for improved consumer protection from e-commerce operators. The survey, conducted on 2,000 local consumers, showed that 29.4 percent of the people shopping on local e-commerce platforms and 28.3 percent [...]
SEOUL, Nov. 20 (Korea Bizwire) – South Korean regulators have blocked nearly 2,000 product listings from Chinese e-commerce platforms AliExpress and Temu since May, citing safety violations that threaten consumer well-being. This move underscores the growing challenges posed by cross-border e-commerce amid its meteoric rise in the country. A Surge in Unsafe Products From May to [...]
SEOUL, Nov. 20 (Korea Bizwire) – South Korea’s e-commerce market is growing at a fast pace and is expected to grow 10.2 percent on-year to surpass 164 trillion won (US$118 billion) this year, a global market research firm said Wednesday. The Korean e-commerce market is set to reach 164.3 trillion won in 2024, up from [...]