SEOUL, March 3 (Korea Bizwire) – South Korea’s retail giants, faced with cut-throat competition in the rapidly saturating domestic market, are turning their attention to overseas markets in conjunction with small and mid-sized businesses to secure a new growth driver, industry watchers said Thursday. The country’s three major retail conglomerates – Shinsegae Group, Lotte Group [...]
SEOUL, March 3 (Korea Bizwire) – Coupang, a leading South Korean e-commerce operator, is expected to log mounting operating losses for 2015 as big investments in logistics capacity weighed on the financials of the startup company, industry sources said Thursday. Coupang is expected to log over 400 billion won (US$326.9 million) in operating losses when [...]
China-based tech giant Xiaomi Inc., which has been sluggish in tapping overseas markets due to copyright-related issues, is set to speed up its expansion with a new flagship, industry sources said Thursday, engaging in new battles with top brands like Samsung and Apple in South Korea. (Image : Yonhap) SEOUL, March 3 (Korea Bizwire) – [...]
SEOUL, March 2 (Korea Bizwire) – Emart has announced that it will launch private brand products created in collaboration with SM Entertainment. The products will be sold at Emart Mall and 140 Emart stores nationwide from March 3. The new products include EXO Jajangmyeon (jajang-flavored instant noodles), Super Junior Habanero Ramen Noodles, TVXQ Truffle Rose [...]
SEOUL, Mar. 2 (Korea Bizwire) — Samsung Electronics Co. dominated the global TV market for the 10th consecutive year in 2015, data showed Tuesday, on the back of the strong performance of its high-end models. Samsung took up 27.5 percent of the global TV market in terms of sales and 21 percent in shipments last [...]
SEOUL, Mar. 2 (Korea Bizwire) — Hotel Shilla Co., an affiliate of South Korea’s top conglomerate Samsung Group, said Tuesday it plans to open a duty-free shop in downtown Bangkok, speeding up efforts to expand its overseas presence. The company said the duty-free shop, which will open within this year, comes after Hotel Shilla first established [...]
SEOUL, March.1 (Korea Bizwire) – As more and more Koreans are choosing to repair their cars themselves, data indicates that many are buying engine oil, light bulbs and other car parts online. The online shopping portal Auction (www.auction.co.kr) analyzed sales from its site specializing in German auto parts (gparts.auction.co.kr) over the past seven months, and [...]
SEOUL, Feb. 29 (Korea Bizwire) – The sale of Kim’s Club, a hypermarket chain of South Korean fashion and retail conglomerate E-land Group, has drawn proposals from three bidders, with a preferred bidder to be selected next month, industry sources said Monday. Kim’s Club, the nation’s fourth-largest supermarket chain with 37 outlets, was put up [...]
SEOUL, Feb.29 (Korea Bizwire) – Retailers are biting their nails with news spreading quickly that herbicides have been detected in 14 popular German beers. The timing couldn’t have been worse, as the popularity of imported beer is soaring at large discount stores and convenience stores. According to those in distribution industry, domestic retailers are checking [...]
SEOUL, Feb.28 (Korea Bizwire) – With price wars between large discount stores and social commerce sites heating up, baby formula is in the limelight. As formula is being purchased more frequently through online sites, the share of offline sales is rapidly falling. This is the main reason why large discount stores such as Emart and [...]