SEOUL, Jun. 28 (Korea Bizwire) — South Korean women in their 30s have become the biggest spenders in the country’s international shopping market during the first half of 2017, according to a sales report from online shopping giant 11street. From a high-end vacuum cleaner to milk powder, women in their 30s have dominated international shopping [...]
SEOUL, Jun. 23 (Korea Bizwire) — As China’s ongoing package tours ban to South Korea continues to hit Lotte Duty Free hard, senior officials at the company are now in full damage control mode, with executive board members returning a tenth of their salary in a bid to overcome the critical situation. Lotte Duty Free [...]
SEOUL, Jun. 23 (Korea Bizwire) — Wine is becoming an increasingly popular beverage of choice, particularly among South Korean women in their 20s, a new report says. According to data released by Shinsegae Department Store on Thursday, sales of wine among customers in their 20s from January to May this year more than doubled compared [...]
SEOUL, June 22 (Korea Bizwire) – It’s been a good year for IKEA Korea as the Swedish furniture giant is set to top its sales from last fiscal year. IKEA, since the opening of its Gwangmyeong store in December 2014, has reshaped the landscape of the country’s furniture industry, with the Gwangmyeong branch becoming the company’s [...]
SEOUL, Jun. 22 (Korea Bizwire) — South Korea’s tallest skyscraper built by retail giant Lotte Group received a green building certificate from a U.S.-based environment organization, Lotte Corp. said Wednesday. The 123-story Lotte World Tower received a Gold rating in the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) system, the conglomerate [...]
SEOUL, June. 21 (Korea Bizwire) — With the advent of technology, South Korean shopping channels as we know them are in for a dramatic makeover. The massive conglomerates behind many of these channels are increasingly tapping comedians and internet stars to be the face of their sales broadcasts through digital platforms. One industry powerhouse leading the [...]
BUSAN, June 19 (Korea Bizwire) – The city of Busan on South Korea’s southeastern coast said Monday it will strengthen cooperation with the Argonne National Laboratory, a research institute funded by the U.S. Department of Energy, on decommissioning nuclear reactors following the shutdown of a commercial nuclear reactor in the city. Busan Mayor Suh Byung-soo [...]
SEOUL, Jun. 19 (Korea Bizwire) — Southeast Asia’s online market is expected to expand sharply backed by the region’s huge population, which serves as a good business opportunity for South Korean companies, a report showed Sunday. In the report, the Korea Trade-Investment Promotion Agency (KOTRA) said the region’s online shopping market has been growing at [...]
SEOUL, June 16 (Korea Bizwire) – Lotte Duty Free, South Korea’s top duty-free operator, said it opened an outlet in central Bangkok on Friday, making its first foray into the key Southeast Asian market. The shop, located inside entertainment and retail complex Show DC, is only partially operational at the moment, with the grand opening [...]
SEOUL, Jun. 13 (Korea Bizwire) — Despite the newly-elected South Korean government’s efforts to work with China, the deployment of a THAAD missile defense system at home continues to haunt South Korean companies operating in their neighbor across the Yellow Sea, particularly Lotte. According to Lotte officials and other diplomatic sources, Chinese authorities have once [...]