SEOUL, May 11 (Korea Bizwire) — South Korean retail giant Lotte said Friday it has decided to sell one of its discount store units in China to a local retailer in a major step toward withdrawing from the world’s second-largest economy. Lotte Shopping Holding Hong Kong Co. will sell 100 percent of its stake in [...]
SEOUL, May 9 (Korea Bizwire) — E-Mart Inc., South Korea’s leading discount store chain operator, said it launched a test operation of a robot to provide automated concierge service to shoppers on Wednesday, as the company moves to strengthen its competitiveness in its offline distribution network with cutting-edge technologies. The proof of concept for the [...]
SEOUL, May 4 (Korea Bizwire) — Bae Min-ji’s ordinary day begins by boiling tap water to drink. The 29-year-old takes a shower using just a single bar of soap and brushes her teeth with a powdered toothpaste. With a tumbler, small cloth bags, a spoon and chopsticks, she is ready to leave the house and [...]
SEOUL, May 3 (Korea Bizwire) — French cosmetics giant L’Oreal said Thursday it will buy Nanda Co., one of South Korea’s leading online retailers, amid the global popularity of K-pop and Korean beauty items. L’Oreal said it will wholly purchase the makeup and fashion company, without disclosing the transaction price. It marks the French firm’s [...]
SEOUL, May 3 (Korea Bizwire) — When studying in Britain in 2010, Choi Ian was shocked one morning to find his old yet beloved Rover Mini parked on the street and crushed so heavily in both the front and rear that repairs made no sense. The insurance firm offered money in exchange for scrapping the [...]
SEOUL, May 2 (Korea Bizwire) — E-Mart Inc., South Korea’s largest discount store chain by sales, is set to sign an initial agreement with Dutch food retailer SPAR International, a company official said Wednesday, in a move to boost its presence in China. E-Mart is scheduled to sign a memorandum of understanding (MOU) with SPAR [...]
SEOUL, Apr. 30 (Korea Bizwire) — Korean cosmetics producers are heading into the global market after success in China and Southeast Asia. Both manufacturers and distributors alike of Korean cosmetics are expanding their production facilities to more advanced markets such as the U.S. and Japan, while taking an aggressive stance via mergers or takeover of [...]
SEOUL, Apr. 30 (Korea Bizwire) — The South Korean government has started a crackdown on flavored cigarettes that may encourage long-term smoking habits. The Ministry of Health and Welfare revealed plans on Saturday to implement strong measures that would regulate the flavoring used widely in cigarette products. The Ministry will be working alongside other government [...]
SEOUL, Apr. 27 (Korea Bizwire) — The publishing industry in South Korea grew in 2016 due to rising ebook sales, new data has revealed. According to data revealed by the Publication Industry Promotion Agency of Korea on Thursday, South Korea’s publishing industry reported revenue of around 7.8 trillion won last year, up 2 percent from the [...]
SEOUL, Apr. 26 (Korea Bizwire) — South Korean cosmetics makers said Thursday they are making inroads into new markets as part of their efforts to diversify sources of income after being hit hard by China over a missile row last year. LG Household & Healthcare, a major South Korean cosmetics and household goods maker, said [...]