SEOUL, Nov. 8 (Korea Bizwire) – In a significant move that cements his position among South Korea’s most successful entrepreneurs, Bom Kim, the founder and executive chairman of Coupang, has announced plans for a major stock sale, fourteen years after founding the company and three years after its landmark NYSE debut. Kim, who moved to the [...]
SEOUL, Nov. 4 (Korea Bizwire) — South Korean online high-fashion gallery jente has launched its official global service to make inroads into markets in different regions, its officials said Monday. According to the officials, jente’s global platform with English language services is now available for access across the world. The platform will feature products from [...]
SEOUL, Oct. 2 (Korea Bizwire) – The South Korean Fair Trade Commission (FTC) has initiated regulatory action against AliExpress, the popular Chinese online shopping platform, over allegations of false advertising. On September 30, the FTC sent a report detailing potential sanctions to an AliExpress affiliate responsible for product sales. The commission determined that the company’s advertisements, [...]
SEOUL, Sept.11 (Korea Bizwire) – Coupang, South Korea’s leading e-commerce platform, found itself embroiled in controversy after listings offering to ship live puppies via courier service appeared on its site, sparking outrage among animal rights advocates and raising questions about the company’s content monitoring practices. According to industry sources, two listings appeared on Coupang’s platform on [...]
SEOUL, Aug. 28 (Korea Bizwire) — Children’s bicycles sold here by Chinese online platform AliExpress have been found to contain a hazardous substance exceeding the South Korean standard by about 260 times, the Seoul city government said Wednesday. The city government said it has conducted a safety examination on 16 kinds of children’s products sold [...]
SEOUL, Aug. 26 (Korea Bizwire) – Chinese e-commerce platform AliExpress announced on August 26 that it has implemented protective measures for more than 8,500 Korean brands from December of last year to July of this year, primarily through blocking counterfeit products. AliExpress has intensified efforts to protect and manage intellectual property rights to safeguard the interests [...]
SEOUL, Aug. 21 (Korea Bizwire) – The government said Wednesday it will provide 1.6 trillion won (US$1.2 billion) in financial support, including loans, to help vendors hit by delayed payments of e-commerce platforms TMON and WeMakePrice. The announcement came after the two firms, owned by Singapore-based Qoo10, filed for corporate rehabilitation last month after failing to [...]
SEOUL, Aug. 6 (Korea Bizwire) — Finance Minister Choi Sang-mok on Tuesday unveiled policy measures for e-commerce vendors, as such vendors were hit by the recent payment delays of Qoo10-owned platforms TMON and WeMakePrice. Under the measures, the government will shorten a term of payment by e-commerce platforms to vendors, Choi told a meeting with [...]
SEOUL, Aug. 2 (Korea Bizwire) – A court on Friday granted cash-strapped e-commerce platforms TMON and WeMakePrice one month to seek debt restructuring on their own, after they failed to make payments to their vendors. The decision by the Seoul Bankruptcy Court to allow an autonomous restructuring support program (ARS) for TMON and WeMakePrice came [...]
SEOUL, Aug. 1 (Korea Bizwire) – Direct purchases from overseas by South Korean customers surpassed the 2 trillion-won (US$1.46 billion) mark for the first time ever in the second quarter of 2024, data showed Thursday. The total value of online direct buying from overseas advanced 25.6 percent on-year to 2.15 trillion won in the April-June [...]