SEOUL, Sept. 1 (Korea Bizwire) – Tesla, the world’s leading EV manufacturer, has confirmed that its first dealership in Korea will be located at Starfield Hanam, a Shinsegae-Taubman shopping complex that will be the largest of its kind on the peninsula. Shinsegae said the upcoming mall, which is scheduled to open on September 9, will [...]
SEJONG, Sept. 1 (Korea Bizwire) – Online shopping sales in South Korea jumped 17.4 percent on-year to hit a record high in July on upbeat demand for leisure and tourism bookings and electronic devices, a government report showed Thursday. Total online transactions reached 5.56 trillion won (US$4.98 billion) in the seventh month of 2016, compared [...]
SEOUL, Aug. 31 (Korea Bizwire) – With Koreans increasingly likely to prefer online shopping over the physical experience, parcel delivery services are among the rapidly prospering businesses in Korea. Tuesday’s decision to abolish the Supply-Demand Regulation Policy, which made it difficult for service companies to increase their use of smaller trucks (1.5 tons and less), [...]
SEOUL, Aug. 31 (Korea Bizwire) – Galleria Duty Free 63 may be the newest of the duty free franchises in Korea, but it hasn’t been all smooth sailing since the store’s July launch, especially when it comes to maintaining relationships with cosmetics companies. L’Oréal recently withdrew some 20 employees from six of its brands – [...]
SEOUL, Aug. 31 (Korea Bizwire) – It has been almost two weeks since the Samsung Galaxy Note 7 was released. Yet, the unexpected popularity of the phablet has led to shortages, with many consumers still awaiting their new phones. High demand for the phone has highlighted another issue, where smaller cell phone stores receive fewer [...]
SEJONG, Aug. 31 (Korea Bizwire) – The opening ceremony of South Korea’s biggest shopping festival, “Korea Sale Festa,” will be held in Seoul next month, along with various concerts and exhibitions to draw more visitors and shoppers from overseas, the trade ministry said Wednesday. The event will take place on Yeongdong Daero (Boulevard) in southern [...]
SEJONG, Aug. 29 (Korea Bizwire) – South Korea will invest 40 billion won (US$35.5 million) by 2020 to improve the country’s industrial design capability and develop higher value-added products, the trade ministry here said Monday. In a design promotion plan unveiled at the 2016 Design Innovation Forum held in Seoul, the Ministry of Trade, Industry [...]
HANAM, South Korea, Aug. 29 (Korea Bizwire) – Starfield Hanam, an upcoming shopping mall complex built in a joint venture between Shinsegae (51) and Taubman Asia (49), is set to open in September, and is now undergoing authentication procedures for its attainment of several domestic records, including as Korea’s largest shopping mall. The $1-billion, seven-story complex [...]
SEOUL, Aug. 29 (Korea Bizwire) – Outbound shipments of food, beauty, fashion and personal care products soared in the first half of the year on the back of the growing popularity of the Korean wave, or hallyu, industry data showed on Monday. According to the data compiled by the Korea International Trade Association (KITA), exports [...]
SEOUL, Aug. 26 (Korea Bizwire) – Samsung Electronics Co. and LG Electronics Inc. will showcase their latest developments, gadgets and smart home appliances at next month’s consumer electronics fair in Berlin, according to company officials on Friday. The annual IFA fair, to be held in Berlin from Sept. 2-7, will bring together about 240,000 participants [...]