NEW YORK, July 1, 2014 (Korea Bizwire)–Several recent events point to greater corporate acceptance of the virtual currency Bitcoin as a payment mechanism, according to Fitch Ratings. “apps may facilitate transmission of approved virtual currencies provided that they do so in compliance with all state and federal laws for the territories in which the app [...]
DUBLIN, IRELAND, Jul 1, 2014 (Korea Bizwire) Research and Markets (http://goo.gl/evs1z6) has announced the addition of the “Commercial Payment Cards: The U.S. and Global Markets and Trends, 8th Edition” report to their offering. While U.S. consumer credit card spending may still be pressured, commercial card purchase volume is moving full steam ahead. According to Commercial Payment [...]
SEOUL, June 27 (Korea Bizwire) – A large-scale discount event will be launched this weekend providing 50-percent discount by participating stores in Seoul’s Sinchon area. Under the slogan of “Now Sinchon Is 50% Discount,” the discount event called “Tap Day Festival” will be held on June 28. In the event, some 300 stores in the area [...]
SEOUL, June 27 (Korea Bizwire) – A study shows that nine out of ten foreign consumers who have purchased Korean goods directly online instead of via importers or local retailers, have intent to repurchase. However, it also revealed many of them have experienced inconveniences in the purchasing process. The Korea International Trade Association (KITA) has conducted [...]
![[Feature] Homegrown Online Retail Brand “11st” Maintains Top Position](http://koreabizwire.com/wp/wp-content/uploads/2014/06/11번가.jpg "[Feature] Homegrown Online Retail Brand “11st” Maintains Top Position")
SEOUL, June 25 (Korea Bizwire) – Korea’s homegrown online retail brand 11st is growing by leaps and bounds. According to data released by Korean Click, 11st took the No. 1 position among online retail sites in terms of unique visitor numbers for the month of May. Its rank in all Internet website was No. 4 after [...]
SEOUL, June 21 (Korea Bizwire) – Thanks to the Korea Wave, foreign consumers’ interests in Korean goods are hotter now than any other time. Responding to the trend, the market size of direct sales of Korean goods to overseas consumers through domestic Internet shopping sites is estimated at 200 billion won. Then, who will be [...]
NEW YORK, June 19 (Korea Bizwire)–U.S. retailers seeking to grow their businesses with online shoppers overseas should look to South Korea, according to a report released today from Borderfree, a market leader in international cross-border ecommerce solutions. The report, part of Borderfree’s series of intelligence pieces on high-interest markets for ecommerce, points to South Korea [...]
SEOUL, May 31 (Korea Bizwire) – Korea’s No. 1 mobile messenger KakaoTalk will start its own mobile wallet service by which the users can make wire transfers and transactions in the second half of 2014. On May 29, according to financial industry sources, Kakao Inc. will start servicing “Bank Wallet Kakao” which is an electronic [...]
SEOUL, May 21 (Korea Bizwire) – Amid growing purchasing influence of Chinese tourists in the Korean market, the transaction systems of online shopping malls are becoming more and more Chinese-friendly. Lotte.com, Korea’s online shopping mall, announced on May 20 that it has developed a payment system for Chinese customers in cooperation with “Alipay,” a Chinese [...]
SEOUL, May 3 (Korea Bizwire) – Naver, Korea’s largest search portal with more than 70 percent of the market, will close its open market “ShopN” in response to public criticism and a controversy following a Fair Trade Commission investigation on the company. It has been two years since Naver established ShopN in 2012. Naver said [...]