SEOUL, July 28 (Korea Bizwire) – CU, a convenience store franchise operated by BGF Retail, has joined hands with luxury karaoke business Su Karaoke to launch Korea’s first ‘Karaoke Convenience Store’. Located in one of Seoul’s most vibrant and youth-driven areas, Hongdae Street of Youth, the karaoke building houses a CU store on its ground [...]
SEOUL, July 28 (Korea Bizwire) – Hyundai Department Store, one of the major department stores in South Korea, announced on July 28 that it will launch a virtual reality (VR) online store on its upscale online shopping mall – the Hyundai.com (www.thehyundai.com). The Hyundai’s new online VR store provides customers with the feeling of physically being [...]
SEOUL, July 28 (Korea Bizwire) – LG Electronics Inc. posted its biggest quarterly operating profit in two years for the second quarter of this year, backed by strong sales of its home appliances and televisions. LG Electronics reported an operating profit of 584.6 billion won (US$519.6 million) in the April-June period, up 139.5 percent from [...]
SEJONG, July 28 (Korea Bizwire) – South Korea’s major department stores and discount chains saw their sales rise in June from a year earlier due to an increase in holidays, government data showed Thursday. The combined sales of three department stores — Hyundai, Lotte and Shinsegae — increased 11.8 percent on-year last month, while those [...]
SEOUL, July 28 (Korea Bizwire) – Samsung Electronics Co. reported its biggest quarterly operating profit in more than two years Thursday, boosted by robust sales of its latest premium smartphone and cost-cutting efforts. The world’s largest maker of smartphones and semiconductors earned 8.14 trillion won (US$7.19 billion) in the April-June period, up 18.06 percent from the [...]
SEOUL, July 27 (Korea Bizwire) – Shake Shack, a New York-based casual restaurant chain, finally launched the first of its long-anticipated Korean franchises last week. Perhaps unsurprisingly, the launch was followed by soaring popularity and public interest in premium homemade burgers. According to Gmarket, an e-commerce platform, sales of ‘hamburger makers’ skyrocketed by over 1,400 [...]
SEOUL, July 27 (Korea Bizwire) – ZAIGLE is a Korean household appliances maker best known for its BBQ grill of the same name. The uniquely-shaped cooking appliance has helped propel the venture company to surpass 100 billion won in annual revenue just seven years after the company’s launch. “We’ll strengthen our offline distribution in Korea [...]
SEOUL, July 27 (Korea Bizwire) – Samsung Electronics Co. raised its share of the U.S. home-appliance market for the second quarter of this year, widening its lead over competitors, according to a market estimate on Wednesday. Samsung accounted for 16.7 percent of the U.S. market for five major household appliances — refrigerators, washing machines, ovens, [...]
SEOUL, July 25 (Korea Bizwire) – CLIO, a Korean cosmetics maker, revealed Monday that it had successfully secured a $50 million investment from L Capital Asia, a private equity fund formed in 2009 by LVMH (Moet Hennessy Louis Vuitton). This marks the fund’s second venture with a Korean enterprise following its investment in YG Entertainment [...]
SEOUL, July 25 (Korea Bizwire) – In what some might see as a late response to the recent controversy over IKEA’s Malm dresser, which has been cited for the death of at least three children in North America, the Korean government has decided to investigate the safety of all dressers currently being distributed domestically. According [...]