SEOUL, Jan. 6 (Korea Bizwire) — With South Korea facing its worst domestic retail downturn since the 2008 global financial crisis, major retailers are accelerating their international expansion plans in search of new growth opportunities. On January 5, industry sources revealed that Lotte Department Store is planning to expand overseas with its next-generation shopping complex brand, [...]
SEOUL, Jan. 3 (Korea Bizwire) — Ashley Queens and Outback Steakhouse, two leading casual dining chains in South Korea, have achieved a retail milestone by establishing locations in all three major department store groups – Lotte, Shinsegae, and Hyundai – marking the first time both restaurants have accomplished this feat. According to industry sources, Eland Eats [...]
JEJU, Dec. 30 (Korea Bizwire) — Jeju’s government-run food delivery app Mukkebi has achieved a milestone of over 10 billion won ($7.5 million) in cumulative transactions just two years after its launch in December 2022. According to the Jeju Provincial Government, as of December 23, 2024, the platform has registered 44,064 members and 3,352 partner restaurants. [...]
SEOUL, Dec. 30 (Korea Bizwire) — Starbucks Korea announced its top 10 best-selling beverages of 2024, with the classic “Café Americano” once again claiming the top spot. Following closely was the “Café Latte,” maintaining its second-place ranking since the company began tracking sales rankings in 2009. For the first time, a tea-based drink, “Grapefruit Honey Black [...]
SEOUL, Dec. 26 (Korea Bizwire) – In 2025, South Koreans will see a number of small and big changes, including some that will improve convenience in their daily lives and some that may even lead to changes in how they live. Among Korean companies, CJ Logistics Corp. is set to take what may be the [...]
CHUNCHEON, Dec. 21 (Korea Bizwire) – Chuncheon City has been honored as an outstanding municipality for its success in dramatically increasing local business revenue through the private-public delivery app “Ttaenggyeoyo.” At an awards ceremony hosted by Shinhan Bank and Ttaenggyeoyo on December 20 in Seoul, Chuncheon was among five regional governments, including Gwangju and Jeonnam, to [...]
SEOUL, Dec. 19 (Korea Bizwire) – The Korea Consumer Agency (KCA) announced on December 18 that domestic brands demonstrated superior value for money in a comprehensive quality and safety evaluation of 10 wireless headphone models currently available in the market. The evaluation covered a wide range of models across different price points and countries of origin: [...]
SEOUL, Dec. 18 (Korea Bizwire) — Chung Yong-jin, chairman of South Korean retail conglomerate Shinsegae Group, was set to meet with Donald Trump Jr., the eldest son of U.S. President-elect Donald Trump, at the president-elect’s Florida resort this week, the group said Wednesday. Chung is visiting the Mar-a-Lago resort Tuesday and Wednesday (U.S. time) to [...]
SEOUL, Dec. 17 (Korea Bizwire) – Coca-Cola Beverage, a subsidiary of LG Household & Health Care, has conducted its first voluntary retirement program since being acquired in 2007. The program, targeting older employees in the sales and logistics departments, reflects growing pressure on the company amid declining profits in the domestic beverage market. Details of the [...]
GOYANG, Dec. 16 (Korea Bizwire) – The Grand Department Store in Ilsan, Gyeonggi Province, will permanently close its doors at the end of February, marking the final chapter for a retail chain that once maintained a significant presence in South Korea’s upscale shopping districts, including Seoul’s Gangnam area. According to industry sources on December 15, the [...]