SEOUL, March 6 (Korea Bizwire) – Stocks of major retailers and their affiliates with business ties to China continued to plunge Monday, as Beijing has intensified its measures against South Korea in what appears to be retaliation for the deployment of an advanced U.S. anti-missile battery. Lotte Shopping Co., a key unit of retail giant [...]
SEOUL, March 6 (Korea Bizwire) – Rental services, which in the past were typically limited to water purifiers or bidets in South Korea, are rapidly embracing other products. According to big data analysis firm Daumsoft, online mentions of “rental service” on blogs and Twitter more than doubled over the past three years from 75,300 in [...]
SEOUL, March 6 (Korea Bizwire) – Sales of South Korea’s online shopping malls rose dramatically in recent months helped by the growing number of Chinese customers, data showed Monday, amid China retaliating against South Korea over Seoul’s plans to deploy an advanced U.S. missile defense system on its soil. China has been retaliating against Seoul’s [...]
SEOUL, Mar. 3 (Korea Bizwire) – The threat of retaliation by China is increasing with the conclusion of a land swap deal between the Ministry of National Defense of Korea and Lotte Group crucial to implementation of high-altitude missile defense system (THAAD), and the subsequent acceleration of plans to deploy the American missile battery on [...]
SEOUL, March 3 (Korea Bizwire) – Chinese consumers are widely expected to demand more luxurious and advanced products, a report suggested Friday, urging South Korean exporters to keep up with the ever-changing taste of consumers in the world’s largest market. IT, beauty and premium were among six keywords picked to describe the latest spending trend [...]
SEOUL, March 2 (Korea Bizwire) – Louis Vuitton, along with Chanel and Hermès, is considered in South Korea as one of the big three high-end designer brands that are typically supposed to appeal to the top one-percent. And while Chanel and Hermès continue to symbolize wealth and affluence, Louis Vuitton has recently been struggling to [...]
SEOUL, March 2 (Korea Bizwire) – Re-selling limited edition products is good business for opportunists. The latest hype in Korea has been over the Adidas Yeezy Boost 350 v2 “Zebra,” co-designed by American rapper and producer Kanye West. This extremely limited edition pair of shoes sold for a retail price of 289,000 won ($255.75), but [...]
SEOUL, Feb. 28 (Korea Bizwire) – Lotte’s board of directors approved on Monday a land swap deal with the South Korean military, providing a golf course as the site for a new THAAD missile battery. The deal was signed on Tuesday. Although Lotte will in return receive a state-owned military site near Seoul, the decision [...]
SEOUL, Feb. 23 (Korea Bizwire) – South Korean companies and duty-free shops remain jittery over China’s threats that the deployment of a high-tech U.S. missile defense battery on South Korean soil would wreak havoc on their business, industry sources said Thursday. With Seoul and Washington pushing ahead with the deployment in defiance of China’s strong [...]
SEOUL, Feb. 23 (Korea Bizwire) – Make-up products accounted for more than half of the annual sales at duty-free shops in South Korea last year, fueled by brisk demand from foreign tourists immersed in Korean entertainment culture, data showed Thursday. The combined cosmetics revenue from duty-free chains, including top players Lotte Duty Free and Shilla [...]