DAEJEON/SEOUL, March 16 (Korea Bizwire) – The current chief of KT&G Corp. was reappointed to head the South Korean tobacco maker for another three years, the company said Friday. Baek Bok-in’s reappointment was approved by a regular meeting of shareholders in Daejeon, central South Korea, earlier in the day, it said. The company is South Korea’s largest tobacco and ginseng product manufacturer, [...]
SEOUL, Mar. 16 (Korea Bizwire) — South Korean retail giant Lotte said Friday it plans to wrap up the sales of its hypermarket chain in China by the first half of this year, as potential buyers started to inspect the stores. Chinese retailer Liqun Group is carrying out an on-site inspection of Lotte Mart’s Chinese [...]
SEOUL, Mar. 15 (Korea Bizwire) — Starbucks Coffee Korea posted a record operating profit last year amid growing popularity of the U.S. coffeehouse chain here, industry sources said Thursday. The 50-50 joint venture between retail conglomerate Shinsegae and the U.S. coffee giant posted 114.4 billion won (US$107 million) in operating profit on 1.2 trillion won [...]
SEOUL, Mar. 15 (Korea Bizwire) — South Korea’s convenience store (CVS) chains are increasing the number of outlets selling instant brewed coffee amid growing popularity of the cheap beverage, industry sources said Thursday. South Korea’s largest convenience store chain, CU, said it will raise the number to more than 12,000, from the current 8,000, by [...]
SEOUL, Mar. 14 (Korea Bizwire) — AmorePacific Group, a major cosmetics maker here, said it entered the Australian market Wednesday with one of its most popular brands, as the company accelerates its overseas push in the face of a sharp decline in the number of Chinese tourists. Products of AmorePacific’s mid-end Laneige are now available [...]
SEOUL, Mat. 13 (Korea Bizwire) — The amount of online shopping transactions rose sharply in South Korea in January this year from a year earlier, with purchases made using mobile gadgets rising faster than transactions carried out on personal computers, government data showed Tuesday. Online transactions, excluding the services industry, soared 20.9 percent on-year to [...]
SEOUL, March 12 (Korea Bizwire) — Sales of fresh food products in small quantities and home meal replacements have grown substantially with single- and dual-person households emerging as primary consumers. In the past two weeks, sales of GS Supermarket’s “single-serving vegetable” packets were 68.7 percent higher than in the two weeks directly following the date [...]
SEOUL, March 12 (Korea Bizwire) — South Korean cosmetics companies are concentrating their marketing efforts on anti-pollution products amid growing concerns over fine dust here, industry watchers said Monday. According to Lotte Shopping Co., the combined sales of basic skin care products for skin troubles at its health and beauty store chain LOHB’s in the [...]
SEOUL, March 12 (Korea Bizwire) — Orders made via Starbucks Korea’s mobile ordering service Siren Order have surged since a recommendation feature using big data was integrated, growing by around 100,000 per month. Siren Order was updated last November after the big data recommendation feature was integrated. Since then, suggestions of different Starbucks products based [...]
SEOUL, March 12 (Korea Bizwire) — Companies in the home shopping industry are successfully catching the eye of consumers via exclusive distribution deals and self-produced brands. GS Shop disclosed on March 11 that total orders received for its clothing wear brand SJ Wani – co-created with designer Son Jung Wan in 2012 – had surpassed [...]