BEIJING, May 21 (Korea Bizwire) — South Korea was ranked as the second-most popular destination for Chinese Internet users buying high-quality goods via cross-border e-commerce platforms, a survey showed Thursday. The survey, conducted by a Chinese research institute named i-research and commissioned by the Chinese unit of South Korea’s Korea Trade and Investment Promotion Agency [...]
“Counterfeit goods are an inevitable part of economic development but are still like rotten apples. Time is needed to ultimately solve the problem. Counterfeits tend to be most rampant when an economy’s per-capital gross domestic product is at the US$5,000-level. China is going through such a phase that advanced economies like Europe and the United [...]
SEJONG, May 18 (Korea Bizwire) – Chinese e-commerce giant Alibaba Group on Monday opened a shopping platform in South Korea that promises local companies a chance to make headway in the world’s second-largest economy, the government said. The launch of the business-to-consumer Tmall shopping platform is aimed at selling South Koreans agricultural and manufactured goods as well [...]
SEOUL, April 27 (Korea Bizwire) – Online retailer Lotte.com’s ‘Smart Pick,’ a service which enables its customers to pick up ordered items from 30 Lotte Department Store branches around the nation, has been most appreciated by male and female Koreans in their thirties, said the company on April 26. According to a company report, customers [...]
SEOUL, April 26 (Korea Bizwire) — SK Planet, South Korea’s leading e-commerce platform operator, said Sunday it has launched its flagship online shopping site in Malaysia as part of its overseas expansion. 11street, the online open-market site run by SK Planet, began its service there Friday, under the Internet domain www.11street.my and via its mobile [...]
SEOUL, April 15 (Korea Bizwire) – Coupang, a social commerce operator in Korea, suffered from operating losses of more than 100 billion won last year. On April 14, Coupang announced that it posted sales of 348.5 billion won (US$317.6 million) and an operating loss of 121.5 billion won (US$110.7 million) for 2014. Although the company [...]
SEOUL, April 14 (Korea Bizwire) — KakaoStory, a photo-sharing service operated by Daum Kakao, was the most popular social networking service (SNS) in South Korea last year, a poll showed Tuesday, outpacing Facebook and other global platforms. According to the survey conducted by Hankook Research on 9,381 people aged between 13 and 69, 51.8 percent [...]
SEOUL, April 8 (Korea Bizwire) – As more Korean consumers seek overseas direct purchases, consumer complaints are mounting in the sector. Most complaints were related to delivery issues and product defects. The Korea Consumer Agency announced on April 7 that the number of consumer counseling cases related to overseas direct purchases skyrocketed from 149 cases [...]
SEOUL, April 7 (Korea Bizwire) – TMON Pay, the proprietary simple payment system from Korea’s first social commerce provider Ticket Monster (TMON), has attracted more than 200,000 subscribers just one month after its launch. TMON Pay enables payments in just three seconds by inputting a password whenever a subscriber purchases products at the social commerce [...]
SEOUL, April 6 (Korea Bizwire) — The total trade volume of online retailers for 2014 surpassed that of large retail stores and department stores for the first time, said Statistics Korea on April 5. Although the overall trade volume through Korean online businesses stood at 45.24 trillion won (US$ 41.62 billion), which is slightly lower [...]