SEOUL, March 19 (Korea Bizwire) – With traditional brick and mortar retailers feeling squeezed by the rapid growth of online shopping, a new tactic has them fighting back by building massive shopping malls that offer both shopping and entertainment at the same time. Lotte and Shinsegae have announced plans to build seven shopping malls (four by Lotte, [...]
SEOUL, March 18 (Korea Bizwire) – While traditional markets are struggling to compete with large discount stores, young merchants are seeking to launch their future businesses there. On March 17, a special audition was held in Incheon with the goal of selecting young merchants to breathe some new energy into the city’s traditional market. A total [...]
SEOUL, March 18 (Korea Bizwire) – The rapid increase in the number of single- person households is bringing about great change in consumer behavior. As a result, companies are changing tactics to meet the new market reality. According to a report from the Segye Ilbo, a Korean daily newspaper, the number of single-person households was [...]
SEOUL, March 18 (Korea Bizwire) – South Korea’s two leading conglomerates — Samsung Group and Shinsegae Group, which share the same lineage — have been locked in an unusual conflict over mobile payment tools, industry sources said Friday, as the two are promoting their respective platforms. According to the sources, Samsung’s service sector entities, including Hotel [...]
SEOUL, March 18 (Korea Bizwire) – LG Electronics Inc. said Friday it plans to start the sale of its latest flagship G5 smartphone in South Korea and other countries on March 31, kicking off the steps of its plan to catch up with the Galaxy S7 series released last week. The G5 smartphone, first introduced at the Mobile [...]
SEOUL, March 17 (Korea Bizwire) – LG Electronics has been criticized for another misplaced marketing agenda following the epic match between professional Go player Lee Se-dol and AlphaGo. Lee wore a shirt that had the characters ‘G5’ embroidered on the sleeve. The G5 is expected to be the next smartphone to be launched by Lee’s long time [...]
SEOUL, March 17 (Korea Bizwire) – Another duty-free market upheaval looms as South Korea is toying with the idea of easing the licensing system to attract more foreign travelers, drawing a strong backlash from five companies given the right to open new shops. Less than a year after giving out three more duty-free licenses and changing [...]
SEOUL, March 16 (Korea Bizwire) – Recent data shows that sales of laundry soap bars has increased at large discount stores in an era when the penetration rate of washing machines is virtually 100 percent. According to the discount store Emart, total sales of detergent decreased by nine percent year over year as of March, [...]
SEOUL, March 16 (Korea Bizwire) – With walking becoming part of a new trend to help maintain a healthy lifestyle, competition in the walking shoes market is heating up. According to analysts from the outdoor apparel industry, the walking shoes market is estimated to have grown 20 to 30 percent each year since 2010. To meet [...]
SEOUL, March 16 (Korea Bizwire) – Samsung Electronics Co.‘s Galaxy S7 Edge, one of the South Korean tech giant’s latest two flagship smartphones, boasted higher than expected sales in Europe compared to its sister, industry sources said Wednesday. According to the sources, the Galaxy S7 Edge, which comes with a display that curves at both [...]