As e-commerce complaints typically rise during the summer and year-end holidays, experts say that the number of complaints is bound to go up this year. (Image credit: Kobiz Media) SEOUL, May 28 (Korea Bizwire) — The number of e-commerce disputes filed during the first quarter of this year was approximately half of all cases filed [...]
SEOUL, May 25 (Korea Bizwire) — The recent fad that has seen South Koreans flock to overseas Internet shopping websites to buy luxury items and premium electronics goods has expanded to include consumption of daily household items. The online shopping mall G9 operated by eBay Korea reported a 157 percent increase in sales of household [...]
SEOUL, May 15 (Korea Bizwire) — Hyundai Department Store announced on May 13 that it will be releasing a new virtual makeup service on its official online store, thehyundai.com. The major department store chain partnered with Meitu, China’s top app developer, to accelerate its efforts to lead a retail tech trend in Korea by making [...]
SEOUL, May 15 (Korea Bizwire) — South Korea’s retail giant Lotte said Tuesday it will inject 3 trillion won (US$2.84 billion) into the conglomerate’s e-commerce business in the next five years to cope with the rapid expansion of the country’s online market. As part of its plan, Lotte Shopping Co. said eight online malls that [...]
SEJONG, Mar. 20 (Korea Bizwire) — South Koreans’ direct purchases from foreign countries rose to a record high last year on rising demand for cheaper and different products, customs data showed Tuesday. A total of US$2.11 billion worth of foreign goods was directly bought by South Korean shoppers via overseas internet shopping malls last year, [...]
SEOUL, Mar. 6 (Korea Bizwire) — A growing number of South Korean fashion companies are producing online-only products and shutting down offline outlets amid ever rising sales of fashion items among the younger generation, industry sources said Tuesday. Avista Corp. said it will soon close its offline stores for Kai-aakmann brand products so they could [...]
SEOUL, Jan. 30 (Korea Bizwire) — Social commerce service WeMakePrice is set to become the first South Korean shopping website to accept cryptocurrencies in South Korea. According to reports, WeMakePrice is in talks with cryptocurrency exchange Bitthumb to allow users to make payments with cryptocurrencies such as Bitcoin, which could see the website become the [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korean retail giant Shinsegae Inc. said Friday it has signed an initial agreement with a foreign investment firm and a private equity firm to strengthen its e-commerce business amid a rapid expansion of the country’s online market. Shinsegae said it will hive off the online business divisions of [...]
SEOUL, Jan. 15 (Korea Bizwire) — South Korea’s science ministry said Monday it will invest 86.6 billion won (US$81.5 million) this year to develop climate-related technologies to curb carbon gas emissions. The Ministry of Science and ICT said it designated two new sectors in 2018 to secure related technologies to better combat climate change. The [...]
SEOUL, Jan. 12 (Korea Bizwire) – The government’s move to regulate cryptocurrency trades could hurt the blockchain industry, experts have warned. According to industry sources on Friday, blockchain businesses are expressing concerns over the impact of cryptocurrency regulations, despite the government’s assurance that it would support the latest technology. “The growing number of cryptocurrency transactions [...]