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Archive by category Retail & Consumer

Investigation Reveals How Coupang Copied Vendors’ Popular Products for Store Brands

SEJONG, Oct. 31 (Korea Bizwire) – South Korea’s antitrust regulator has disclosed details of how Coupang, the country’s leading e-commerce platform, analyzed vendors’ product data to develop competing private-label merchandise, according to documents released on October 29. The Korea Fair Trade Commission (KFTC) revealed in its ruling that Coupang systematically studied suppliers’ production processes and sales [...]

Red Ginseng Leads Sales for Chinese, Japanese Tourists at Incheon Airport Duty-Free

SEOUL, Oct. 29 (Korea Bizwire) – Red ginseng products topped the list of most purchased items among Chinese and Japanese tourists at Incheon International Airport’s duty-free shops during the July-September period, Shinsegae Duty Free reported on October 28. According to the company’s analysis, the popularity of red ginseng reflects its status as a representative Korean health [...]

Starbucks Faces Global Headwinds as Sales Slump, Withdraws 2025 Forecast

SEOUL, Oct. 25 (Korea Bizwire) – In a sign of mounting challenges for the world’s largest coffee chain, Starbucks has withdrawn its fiscal 2025 outlook amid declining sales and profitability concerns that span from its U.S. home market to South Korea. The coffee giant reported disappointing preliminary fourth-quarter results on October 22, with global revenue falling [...]

Book Sales Surge 40% in South Korea Following Han Kang’s Nobel Win

SEOUL, Oct. 25 (Korea Bizwire) – In the week following Han Kang’s historic Nobel Prize in Literature win, South Korean bookstores reported a remarkable 40% increase in sales, with older readers leading the buying surge. According to data analyzed by BC Card, major bookstore chains, both online and offline including Kyobo Book Centre, saw their sales [...]

South Korean VIP Shoppers Show Strong Preference for Burgundy and Champagne

SEOUL, Oct. 24 (Korea Bizwire) – What kinds of wine do shoppers who spend more than 100 million won annually at department stores prefer? According to data released on October 23 by Galleria Department Store, Burgundy wines and champagne dominate their luxury wine purchases. An analysis of sales from The Vino 494, the upscale wine boutique [...]

Baemin Executive Claims Company Followed Rival’s Lead in Controversial Fee Hikes

SEOUL, Oct. 22 (Korea Bizwire) – In a parliamentary audit on October 21, Ham Yoon-sik, vice president of Woowa Brothers, defended his company’s controversial fee increases by pointing to similar moves by competitor Coupang Eats, highlighting growing tensions in South Korea’s competitive food delivery market. During the National Assembly’s political affairs committee audit of the Fair [...]

Netflix Cooking Show Sparks Surge in Kitchen Equipment Sales in South Korea

SEOUL, Oct. 21 (Korea Bizwire) – The popularity of Netflix’s cooking competition show “Culinary Class Wars” has ignited a boom in home cooking equipment sales in South Korea, according to recent data from a major e-commerce platform. Gmarket, an online marketplace owned by Shinsegae Group, reported on October 20 that sales of kitchen-related items have skyrocketed [...]

SPC Opens 600th Overseas Paris Baguette Outlet in Canada

SEOUL, Oct. 15 (Korea Bizwire) — SPC Group, a South Korean food and beverage company, said Tuesday its bakery brand Paris Baguette has opened its 600th overseas outlet in Canada as part of its global expansion strategy. SPC has opened 30 outlets in North America this year, bringing the total in the mainstay markets to [...]

Chinese Scalpers Exploit Korean Ticketing Sites, Lawmakers Say

SEOUL, Oct. 11 (Korea Bizwire) – Chinese scalpers are illegally acquiring Korean user account information to purchase tickets for hard-to-book events and concerts in South Korea, potentially reaping significant profits from reselling them on the black market, according to a South Korean lawmaker. The allegations, raised during a parliamentary audit on October 10, has sparked criticism [...]

South Korea’s ‘Smart Order’ Alcohol Services Face Scrutiny Over Age Verification

SEOUL, Oct. 11 (Korea Bizwire) – A new convenience in South Korea’s bustling alcohol market is raising concerns about underage drinking. ‘Smart order’ services, which allow customers to order alcohol online and pick it up at offline stores, are under fire for potentially lax age verification procedures, a consumer watchdog group reported on October 10. The [...]