SEJONG, Oct. 4 (Korea Bizwire) – Online shopping in South Korea soared at the fastest clip in more than four years in August as the scorching heat in the summer encouraged more people to enjoy internet and mobile shopping, a government report showed Tuesday. Total online transactions reached 5.58 trillion won (US$5.01 billion) in August, [...]
SEOUL, Oct. 4 (Korea Bizwire) – Faraday Future, a Silicon Valley-based electric vehicle (EV) maker, said Tuesday that it has picked LG Chem Ltd, a South Korean electric vehicle (EV) battery maker, as its official business partner. In a press release posted on its website, Faraday Future said it collaborated with LG Chem on the [...]
SEOUL, Sept. 2 (Korea Bizwire) – Marked by its convenience and easy accessibility, e-commerce has rapidly matured in pace with technological progress. The global market for e-commerce has been growing by an annual average of 10 percent, and is anticipated to become a $2-trillion industry by the year 2018. Korea has also followed a similar [...]
SEJONG, Sept. 1 (Korea Bizwire) – Online shopping sales in South Korea jumped 17.4 percent on-year to hit a record high in July on upbeat demand for leisure and tourism bookings and electronic devices, a government report showed Thursday. Total online transactions reached 5.56 trillion won (US$4.98 billion) in the seventh month of 2016, compared [...]
SEOUL, Aug. 31 (Korea Bizwire) – With Koreans increasingly likely to prefer online shopping over the physical experience, parcel delivery services are among the rapidly prospering businesses in Korea. Tuesday’s decision to abolish the Supply-Demand Regulation Policy, which made it difficult for service companies to increase their use of smaller trucks (1.5 tons and less), [...]
SEOUL Aug. 31 (Korea Bizwire) – The first of 20 limited online sales of a Jaguar vehicle became official on August 30 when a customer signed a final purchase contract on Tuesday afternoon, ending three weeks of doubts and uncertainty. Ticket Monster (T-Mon), Korea’s leading social commerce platform, posted 20 Jaguar XE Portfolio and R-Sport [...]
SEOUL, Aug. 10 (Korea Bizwire) – Ticket Monster (T-Mon), Korea’s leading social commerce platform, posted 20 Jaguar XE Portfolio and R-Sport models on its website Monday, marking the first time that a Korean e-commerce site sold vehicles online. The two models were offered with stunning 7-million-won ($6,400) discounts, and were priced at 48.1 million won [...]
SEJONG, Aug. 3 (Korea Bizwire) – South Koreans’ direct purchases from foreign countries edged up in the second quarter of this year, with online purchases of Korean products by overseas shoppers nearly doubling, government data showed Wednesday. Koreans’ direct purchases of foreign goods via overseas online shopping malls reached 411.8 billion won (US$369.3 million) during [...]
SEOUL, July 28 (Korea Bizwire) – Hyundai Department Store, one of the major department stores in South Korea, announced on July 28 that it will launch a virtual reality (VR) online store on its upscale online shopping mall – the Hyundai.com (www.thehyundai.com). The Hyundai’s new online VR store provides customers with the feeling of physically being [...]
SEJONG, July 11 (Korea Bizwire) – While the popularity of direct buying is taking a step back, the market is seeing some changes in the products being sought by consumers, as well as the countries they’re ordering from. According to the Korea Customs Service (KCS), 8.15 million direct purchases were made during the first half of [...]