SEOUL, Jan. 11 (Korea Bizwire) – As it approaches its third year of being listed on the U.S. stock market, South Korean e-commerce giant Coupang is generating buzz with expectations of its first-ever profit. However, the company faces intensifying competition with the entry of Chinese shopping platforms like AliExpress, raising concerns about the slowing growth of [...]
SEOUL, Jan. 5 (Korea Bizwire) – A conflict has erupted between Coupang, the South Korean e-commerce giant, and the Korea Economic Daily newspaper, following a series of critical articles published by the latter. Coupang has announced plans for legal action, accusing the newspaper of siding with major conglomerate-run retail companies and belittling its innovative practices. [...]
SEOUL, Jan. 3 (Korea Bizwire) — Online shopping sales in South Korea rose 13 percent in November on-year, driven by major sales promotional events, the statistics agency said Wednesday. The value of online shopping transactions amounted to a record high of 20.84 trillion won (US$15.89 billion) in November, up from 18.44 trillion won, according to [...]
SEOUL, Dec. 28 (Korea Bizwire) – In the rapidly evolving landscape of digital marketing, the KPR Digital Communication Research Institute, a subsidiary of KPR, one of the largest public relations companies in Korea, unveiled its top 10 digital marketing communication trends for 2024. These trends, revealed on December 27, are set to redefine the way businesses [...]
SEOUL, Dec. 21 (Korea Bizwire) – Hyundai Home Shopping is embarking on an extensive expansion of its deal-commerce content series, ‘The Naked Ad Studio,’ on YouTube. The company aims to diversify its growth avenues by decreasing reliance on traditional TV broadcasting and boosting competitiveness on mobile platforms. On Wednesday, Hyundai Home Shopping announced the launch of [...]
SEOUL, Dec. 12 (Korea Bizwire) – CJ Logistics, once perceived as a stock market underdog, has been gaining significance recently. The company has been struggling to maintain market share due to the rapid ascent of Coupang, which posed a formidable threat in the retail sector. However, CJ Logistics has experienced a remarkable surge in its stock [...]
SEOUL, Dec. 11 (Korea Bizwire) – In a trend reflective of the times, e-commerce platforms in South Korea are increasingly becoming the main stage for cost-effective consumption, witnessing a rise in so-called ‘frugal spending.’ With soaring prices increasing consumer sensitivity to costs, there’s a notable surge in demand for products priced below 10,000 won. One example [...]
SEOUL, Dec. 6 (Korea Bizwire) – Chinese e-commerce platform AliExpress said Wednesday it plans to invest 10 billion won (US$7.6 million) in South Korea over the next three years to better protect the intellectual property rights of South Korean brands on its platform. Ray Zhang, head of the Korean unit of AliExpress, made the remarks [...]
SEOUL, Nov. 3 (Korea Bizwire) — Naver Corp., South Korea’s top internet portal operator, said Friday its third-quarter net profit jumped 53.8 percent from a year earlier, powered by robust growth of its commerce, content and cloud businesses. Third-quarter net profit amounted to 356.2 billion won (US$265.2 million) on a consolidated basis in the July-September [...]
SEOUL, Oct. 31 (Korea Bizwire) – Woowa Brothers, the operators of Baedal Minjok, a prominent delivery service, announced on Monday their firm stance against fraudulent activities, including taking legal action against review manipulators. Review manipulation involves a restaurant paying someone to craft misleading reviews on the BaeMin app. These deceptive reviews are typically written by individuals [...]