SEOUL, May 6 (Korea Bizwire) – On May 5, online shopping site Gmarket reported that sales of ‘stay-at-home’ products, such as instant food and hobby products, rose significantly among consumers in their 20’s after May 6 was confirmed to be a temporary holiday, forming a ‘golden break’ of four days. Gmarket reported that sales of [...]
SEOUL, April 20 (Korea Bizwire) – KakaoTalk, the leading South Korean messenger application, will launcha new mobile money transfer service by the end of the month. Kakao, the operator of the app, previously launched a remittance service that required the use of additional applications. However, the new service will be added directly to the messenger [...]
SEOUL, April 20 (Korea Bizwire) – With many Koreans enjoying online shopping overseas, the number of consumers issued customs clearance codes for overseas direct purchases has tripled in the past year. To purchase goods directly from overseas online retailers, some 3.38 million Koreans had been issued personal customs clearance codes as of February 2016. According [...]
SEOUL, April 11 (Korea Bizwire) – Korean internet giants Naver and Kakao are battling to take the lead in O2O (online to offline) businesses. Due to a limited number of different kinds of business opportunities to tackle in the IT industry, the projects laid out by the two companies are often in conflict. However, since the two [...]
SEJONG, March 31 (Korea Bizwire) – South Korea’s online sales to foreign customers nearly tripled last year from a year earlier on the back of rising demand for domestically produced cosmetics and clothing by Chinese consumers, a report showed Thursday. South Korean retailers sold an estimated US$130 million worth of goods to overseas customers through [...]
SEOUL, March 30 (Korea Bizwire) – The amount of money spent through electronic payment services increased more than 13 percent last year. According to the Bank of Korea, the average amount of money provided to electronic payment services by electronic financial business operators and banks reached an average of 252.4 billion won per day. The [...]
SEOUL, Dec. 11 (Korea Bizwire) – Online payments using mobile devices have continued to rise in South Korea this year thanks to the widespread use of smartphones and easier transaction options tailored for tech-savvy consumers, industry data showed Friday. 11th Street and GMarket, the nation’s two leading open market operators, received about half of their [...]
SEOUL, Dec.9 (Korea Bizwire) – Officials from ‘Samsung Pay’, the mobile payment system of Samsung Electronics, announced that they have added a transportation card service to Samsung Pay. From December 8, users of Samsung Pay will be able to issue a mobile T-money card or Cash Bee card through their Samsung Pay application, and use [...]
SEOUL, Dec.1 (Korea Bizwire) – K Bank Consortium, which has gained preliminary approval as an internet-only bank, pledged that it will create an innovative success model and lead the revitalization of the economy. Company officials also mentioned their vision to make ‘community neo-banks’ that are friendly and easy to use for everyone. Officials also laid [...]
SEOUL, Nov. 30 (Korea Bizwire) – South Korea’s location-based coupon application provider YAP Company said Monday it has agreed to export its technology to Starbucks stores in Hong Kong, beefing up its efforts to tap the Chinese market. YAP Company currently operates an application, dubbed YAP, in South Korea, which allows users to download coupons [...]