SEOUL, Jul. 13 (Korea Bizwire) — Retail giant Shinsegae said Thursday it will invest 300 billion won (US$263 million) over the next three years to help its loss-making convenience store business cope with the rapidly growing market. Shinsegae, which tapped into the convenience store market in 2014 with an acquisition, has been suffering from losses [...]
SEOUL, Jul. 12 (Korea Bizwire) — Things are looking up for workers in the package delivery industry. The South Korean government has recently announced that it will pledge up to 13 billion won by the year 2022 to reform and improve working conditions. A major chunk of the investment will be used to improve the technology [...]
SEOUL, Jul. 11 (Korea Bizwire) — Fast food restaurants offering burgers and fries found few takers as stores sat nearly empty over the weekend thanks to a “burger phobia” that is spreading like wildfire. The heightened wariness towards eating hamburgers is due to the belief that they may contain undercooked or unhealthy ingredients. The phrase “burger [...]
SEOUL, Jul. 11 (Korea Bizwire) — Shinsegae Department Store is tackling July head on in a bid to boost revenue in what is typically the worst sales month of the year, by launching a series of mobile events and services. The South Korean department store chain announced on Sunday plans to send shopping information to clients [...]
SEOUL, July 10 (Korea Bizwire) – The head of South Korean retail giant Lotte vowed on Monday to boost the group’s transparent management as it attempts to tide over a string of troubles through a governance shakeup. During an IR session held in Tokyo, Lotte Group chairman Shin Dong-bin said his group will be able [...]
SEOUL, Jul. 10 (Korea Bizwire) — The CEO of South Korean conglomerate Lotte Group is expected to move into Lotte World Tower in the coming months, shortening his commute to a mere elevator ride, materializing to commute to and from work in a ‘vertical city’ sort of. According to statement from Lotte released on Saturday, Shin [...]
SEOUL, Jul. 9 (Korea Bizwire) — South Korea’s No. 1 discount retail outlet E-Mart said Sunday that it will expand work with a leading K-pop agency to market products that can attract young shoppers. The chain store, a key affiliate of retailer Shinsegae Group, said it will create 49 everyday products in cooperation with SM [...]
SEOUL, Jul. 7 (Korea Bizwire) — Bananas were the most sold fruit in the first half of the year, according to leading retail giant E-mart on Friday, replacing the longtime favorite apples. E-Mart said it sold 37.6 billion won (US$32.48 million) worth of bananas in the January-June period, up 8.7 percent from the same period [...]
SEOUL, July 6 (Korea Bizwire) – As public interest in eyewear continues to grow, the number of patent applications is increasing for functional sunglasses, which cater to unique needs ranging from protection from fine dust particles to detachable sunglasses. According to figures released by the Korea Intellectual Property Office (KIPO) on Wednesday, the number of [...]
SEOUL, Jun. 29 (Korea Bizwire) – On June 27, two stores symbolizing harmony between big and small businesses opened at Seonsan Bonghwang Market in Gumi, with the grand openings of “No Brand Store” and “Youth Way”. The market has served as the principal traditional market in Gumi from the Chosun dynasty, but for the past 24 [...]