SEOUL, Jun. 12 (Korea Bizwire) — South Korea’s import of camping gear increased nearly 20 percent on-year during the first four months of 2017 thanks to increasing interest in outdoor activities, government data showed Sunday. South Korea imported US$27.73 million worth of camping gear during the January-April period, up 19 percent from a year earlier, [...]
SEOUL, June 9 (Korea Bizwire) – E-Mart revealed on Wednesday the future opening of its “No Brand Win-Win Store” in Anseong Traditional Market in the city of Anseong. The new venture, part of a collaboration with Anseong City, is expected to share retail space with Hwain Mart on the first level of Anseong Traditional Market. On the [...]
SEOUL, Jun. 9 (Korea Bizwire) — KT&G Corp. said Thursday it will soon release heat-not-burn (HNB) cigarettes amid the growing popularity of the smoke-free tobacco despite concerns of the emissions of toxic substances similar to those of conventional cigarettes. The largest tobacco manufacturer in South Korea will begin marketing the new product in September, a [...]
SEOUL, June 8 (Korea Bizwire) – Lotte Shopping Co., the retail unit of Lotte Group, said Thursday its cinema department will be hived off later this year, a move it says will boost each unit’s business competitiveness. During a regular board meeting Thursday, the members approved the plan to spin off the company’s cinema business [...]
SEOUL, June 7 (Korea Bizwire) – South Korean retail giant Lotte will not be abandoning its businesses in China, which have been reeling from apparent retaliation after the company provided the South Korean government with land for a new THAAD anti-missile system. A Lotte official in China said Wednesday that “there is no change in [...]
SEOUL, June 5 (Korea Bizwire) – The global air purifier market is forecast to expand 17.5 percent this year, fueled by burgeoning demand for the anti-contaminant home appliances, a report showed Friday. The market is expected to be valued at US$6.7 billion by the end of this year, based on the growth estimates, the Korea Institute of Science and Technology Information. The global air cleaner market has been growing at an annual rate of 12.4 percent over the past three years, [...]
SEOUL, June 1 (Korea Bizwire) – Lotte Duty Free, South Korea’s top duty-free operator, said Thursday it has set up a new outlet at a Vietnamese airport, making a foray into the Southeast Asian market. Lotte clinched a joint venture deal with a Vietnamese counterpart to co-run Phu Khanh Duty Free at the Da Nang [...]
SEOUL, June 1 (Korea Bizwire) – Amid fears of further Chinese economic retaliation over the South Korean deployment of a THAAD missile defense system, duty-free stores that were scheduled to open soon are scrambling to postpone their opening date. Last week, the Korea Duty Free Shops Association (KDFA) made an official request to the Korea Customs [...]
SEOUL, Jun. 1 (Korea Bizwire) — The de facto head of Shinsegae Co., South Korea’s leading retailer, confirmed Wednesday that the company is pulling its discount chain unit out of China. Shinsegae Vice Chairman Chung Yong-jin told reporters of the pullout at a job exhibition held in Ilsan, northwest of Seoul. Local media have reported [...]
SEOUL, May 31 (Korea Bizwire) – South Korean online shopping giant Coupang is facing criticism over massive staff cuts in the wake of allegations of labor rights abuses that emerged yesterday. Coupang is widely known for its next day delivery service dubbed “Rocket Delivery”, but despite the popular policy that ships all items ordered before midnight [...]