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 [...]
SEOUL, Oct. 27 (Korea Bizwire) – As the COVID-19 pandemic has prolonged the prevalence of non-face-to-face shopping, apparel and cosmetics companies are intensifying their online marketing strategies, specifically targeting Generation MZ (those born between the early 1980s and early 2000s). This younger demographic is increasingly recognizing the advantages of online shopping, which has led to a [...]
SEOUL, Oct. 3 (Korea Bizwire) –The market for online e-coupon services, which provide gift certificates in the form of barcodes, is experiencing rapid growth. This surge can be attributed to the sustained popularity of non-face-to-face gifting practices that emerged during and after the COVID-19 pandemic. The online shopping industry anticipates that the transaction value of [...]
SEOUL, Aug. 9 (Korea Bizwire) — Coupang Inc. said Wednesday it swung to a net profit in the second quarter from a year earlier on improved profitability of its flagship product commerce business. South Korea’s top e-commerce retailer shifted to a net profit of US$145.2 million in the April-June period from a net loss of [...]
SEOUL, Aug. 7 (Korea Bizwire) — Kurly Corp. and Coupang Inc. have entered South Korea’s online beauty market, intensifying the existing fierce competition. Kurly, the operator behind the e-grocery platform Market Kurly, introduced an exclusive beauty platform named Beauty Kurly in November of the previous year. Since then, it has been expanding its market share [...]
SEOUL, July 6 (Korea Bizwire) — With the opening of its first official shopping channel in South Korea, YouTube has paved the way for direct-to-consumer (D2C) shopping malls to launch live shopping programs. Aqo Studio initiated a live shopping program on YouTube’s shopping channel on July 1, accumulating over 350,000 views. Gaze Shop also joined [...]