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 [...]
SEOUL, Korea, April 25, 2014 (Korea Bizwire) – As Kakao transformed itself into a mobile commerce company officially, a tectonic change is afoot in the mobile commerce industry. Recently, Korea On-Line Shopping Association (KOLSA) approved Kakao, the provider of Korea’s largest mobile messenger service KakaoTalk, as its new member. As KOLSA is an umbrella group [...]
GOYANG, Korea, Nov 08 (Korea Bizwire) – Korea’s cosmetic brand “Tonymoly” will move in to the U.S. market by signing a sales agreement with Amazon. The company said on November 7 it would sell cosmetic items on the Amazon.com site through a U.S. distributor Misemet. A company official said, “With a rapid growth of the global business-to-consumer [...]