SEOUL, Nov. 28 (Korea Bizwire) — Shinsegae Food Inc., the food manufacturer of South Korea’s retail giant Shinsegae, said Tuesday it has established a joint venture with a Malaysian firm as part of its efforts to expand its presence in the Southeast Asian market. Shinsegae Food said it signed a contract with Malaysian food maker [...]
SEOUL, Nov. 27 (Korea Bizwire) — Lotte Duty Free, South Korea’s top duty-free operator, said Monday it will open its second airport outlet in Vietnam at the country’s southeastern city of Nha Trang next year. The duty-free operator said it secured the exclusive rights to run the store until 2028 at Cam Ranh International Airport’s [...]
SEOUL, Nov. 27 (Korea Bizwire) – Shinsegae Shopping has announced it will display two items together via a split screen to present more choice to customers. The bold move by the television-based South Korean e-commerce channel service will begin on Monday on olleh tv, where a small screen showcasing another product will appear next to the [...]
SEOUL, Nov. 27 (Korea Bizwire) — Online shoppers are showing growing interest in Black Friday in the United States while losing interest in the local version of the sales extravaganza, an analysis of big data showed Monday. According to Daumsoft, which sorted through blogs, tweets and news on Black Friday from 2015 to this year, [...]
SEOUL, Nov. 27 (Korea Bizwire) — The government’s review on the necessity of restricting the operating hours of large-scale specialty stores is expected to gain speed as the country’s first minister for small and medium-sized enterprises (SMEs) took office, industry watchers said Sunday. On Tuesday, Hong Jong-haak was appointed to head the Ministry of SMEs [...]
SEOUL, Nov. 24 (Korea Bizwire) – South Korean companies are pushing to expand their presence in the Middle Eastern market after suffering backlash from a diplomatic row between Seoul and Beijing over a U.S. missile defense system here, industry watchers said Friday. Earlier in the day, the Korea Federation of Small and Medium-sized Enterprises (SMEs) [...]
SEOUL, Nov. 24 (Korea Bizwire) – South Korea is seeking to impose higher taxes on smokeless tobacco e-cigarette products and adopt graphic health warning labels on packages, the welfare ministry said Friday. The Ministry of Health and Welfare said it had recently proposed a revision to the existing public health promotion law in order to [...]
SEOUL, Nov. 24 (Korea Bizwire) — South Korean retailers are placing big bets on their own private-label brand (PB) products to take advantage of customers’ growing appetite for low-priced but relatively good quality products. Local retail companies, such as Lotte and Shinsegae Group, began to sell a couple of PB products, including milk, in their [...]
SEOUL, Nov. 23 (Korea Bizwire) – Lotte Confectionery Co., a key food unit of South Korean retail giant Lotte, said Thursday it has purchased an Indian ice cream company for 164.5 billion won (US$151 million) to tap deeper into the large South Asian market. Lotte Confectionery acquired the entire 1 million shares of Havmor Ice Cream to expand its presence in India’s snack [...]
SEOUL, Nov. 23 (Korea Bizwire) — E-Mart Inc., South Korea’s largest discount chain operator, said Thursday its beauty brand will open a store in Saudi Arabia next year, as the retailer attempts to expand its presence in the overseas market. The company said it signed an agreement with the Middle Eastern country’s major retail group [...]