SEOUL, June 17 (Korea Bizwire) – The first Korean radio, which was manufactured 57 years ago, is heading to auction. Kobay, an auction company for cultural arts, revealed Thursday that a 1959 radio, model A-501 developed by Goldstar, was submitted for an upcoming auction on June 22, which will take place at 3 p.m. at [...]
SEOUL, June 17 (Korea Bizwire) – The Oxy toxic humidifier sterilizer scandal has made Korean consumers highly alert to potential toxic substances included in other daily products. These concerns expanded to odor eliminators, and now to air purifiers. As part of steps being taken to address rising concerns, air purifier manufacturers are offering free filter [...]
SEOUL, June 16 (Korea Bizwire) – Oxy Reckitt Benckiser, which has been boycotted by many Korean consumers for selling toxic humidifier sterilizers, has dismissed most of its employees at production facilities, blaming financial difficulties. Enraged workers claim that they lost their jobs overnight through no fault of their own. Oxy Reckitt Benckiser, which operates under British [...]
SEJONG, June 16 (Korea Bizwire) – Sales in the online shopping business in South Korea have expanded more than 16-fold over the past 15 years on the back of the rapid development of e-commerce transactions, government data showed Thursday. A total of 53.9 trillion won (US$46.1 billion) worth of purchases were made online last year, [...]
SEOUL, June 15 (Korea Bizwire) – Fast Retailing Co., a public Japanese retail holding company that operates UNIQLO, plans to establish a “next-day delivery service” where products ordered through its online store are delivered the next day. Industry experts say that the Japanese company is taking countermeasures against Amazon, which provides same-day or next-day delivery services, [...]
SEOUL, June 15 (Korea Bizwire) – Samsung Electronics released a Batman-themed Galaxy S7 Edge called the ‘Injustice Edition’ on Monday. The company produced 1,000 units of the limited edition, which sold out in just 10 minutes. However, it was soon revealed that 1,300 transactions had been approved that day, instead of the planned 1,000. Samsung [...]
SEOUL, June 14 (Korea Bizwire) – Shinsegae Group’s integrated online shopping mall, SSG.com, announced Tuesday the launch of H.M SON, a new brand named after top Korean soccer star Son Heung-min. The brand title H.M SON was taken directly from the Tottenham striker’s English initials, and the brand’s logo was inspired by the pentagons on soccer [...]
SEOUL, June 13 (Korea Bizwire) – Korea’s Institute for International Trade (IIT) revealed Sunday in its report, ‘Opening New Trade Paths with High-end Consumer Goods’, that despite Korea’s suffering export industries, exports of high-end consumer goods have increased sharply in recent years. High-end consumer goods include rare, high-quality, and high-priced goods such as beauty products, [...]
SEOUL, June 10 (Korea Bizwire) – Large retail and distribution companies are rapidly expanding their presence in the manufacturing industry through M&A or Private Brands (PB). The rationale behind this phenomenon is that integrated management from planning and manufacturing to distribution of products saves costs and exerts greater influence in the market. Lotte Department Store launched [...]
SEOUL, June 10 (Korea Bizwire) – The names of the major smartphones that will be released later this year are stirring up interest in IT circles. Phone Arena, an IT website, announced that Samsung may name its next Note generation “7” for a synergy effect with its Galaxy S7, the best-selling smartphone of the year. A [...]