UIJEONGBU, Feb.26 (Korea Bizwire) – After Uijeongbu in Gyeonggi Province adopted a public library-bookstore membership point system, small neighborhood bookstores have been brought back to life. One year ago, book prices were fixed to protect small neighborhood bookstores, but the system was ineffective as it only increased prices and actually led to a drop in [...]
SEOUL, Feb.25 (Korea Bizwire) – Collaboration between businesses that don’t seem to have much in common could be the key to boosting sales and renewing brand image. Previously, popular designers collaborated with fashion and cosmetics brands, and animated character businesses collaborated with stationary and toy companies. Recently, however, collaboration between brands that seem to [...]
SEOUL, Feb.24 (Korea Bizwire) – A new service that offers delivery for convenience store items such as boxed meals and bottled water is gaining popularity. According to representatives from convenience store chain CU, the number of deliveries made in January jumped 10.5 times compared to July 2015. Since June 2015, CU has provided delivery services [...]
SEOUL, Feb.23 (Korea Bizwire) – After the first Korean Black Friday event was a success in 2015, the baked goods industry wants in, too. The Korean Bakery Association announced that it will hold a discount promotional event with large franchises from April 4 to 10. The ‘Black Friday’ discount promotion is being held to celebrate [...]
SEOUL, Feb. 22 (Korea Bizwire) – Chinese travelers have emerged as one of the few bright spots for Korean department stores suffering from dull domestic consumption, prompting an all-out fight to attract deep-pocketed clients, industry officials said Monday. Sales at department stores inched down 0.4 percent on-year to 29.22 trillion won (US$23.69 billion) in 2015, [...]
SEOUL, Feb.21 (Korea Bizwire) – During the Chinese spring festival, six million Chinese traveled overseas and spent a total of 90 billion yuan on shopping. The products they purchased abroad included expensive luxury items, smart bidets, and electric rice cookers, but surprisingly, most Chinese tourists bought items used in everyday life such as cough syrup, [...]
SEOUL, Feb. 19 (Korea Bizwire) – South Korea’s customs office said on Friday it has unearthed 2.2 billion won (US$1.7 million) worth of forged smartphone accessories with Samsung and Apple logos. The Korea Customs Service said 41 suspects were booked without detention following its special crackdown kicked off in December, which discovered 38 cases of [...]
SEOUL, Feb. 19 (Korea Bizwire) - Samsung Electronics Co. and LG Electronics Inc. are likely to start domestic sales of their new flagship smartphones in March to meet soaring seasonal demand, heralding a fierce battle to win the hearts and minds of local users, industry sources said Friday. Industry leader Samsung’s presumed Galaxy S7 and LG’s [...]
SEOUL, Feb.18 (Korea Bizwire) – Changes are afoot in the cosmetics industry, with brand rankings in turmoil. It’s Skin climbed up to rank fourth due to its success with ‘snail cream’, and the formerly fourth ranked Etude dropped to sixth after slow sales continued for two years straight. According to industry analysts, The Face Shop [...]
SEOUL, Feb.17 (Korea Bizwire) – Even as the economy is suffering, Koreans seem to be ready to open their wallets for their children. Due to the ‘eight-pocket’ phenomenon, which refers to eight people – parents (2), grandparents (4), uncle and aunt – spending money on one child, products and services related to children are showing [...]