Correction: In the previous article, we reported that the Office of Legislation would decide the consequences of the illegality of Coupang’s Roket Delivery service by the end of August. However, the office said that it is currently deliberating the issue but the time is not fixed by the end of August. SEOUL, Aug. 20 (Korea Bizwire) [...]
GYEONGJU, Aug. 6 (Korea Bizwire) – During the forthcoming Silk Road Cultural Festival in Gyeongju, a digital duty-free shop will be operated for foreign visitors to the event. Foreign visitors will be able to order products through touchscreen-based kiosks and pick them up at the airport when they leave Korea. The Gyeongju World Culture Expo [...]
SEOUL, Aug. 5 (Korea Bizwire) — Wine was atop the list of South Korea’s alcoholic beverage imports in the first half of this year, outpacing hard liquors for the first time, data showed Wednesday. Wine imports rose 5.5 percent on-year to US$94.43 million in the January-June period, taking up the highest share of the total [...]
SEOUL, Aug. 3 (Korea Bizwire) — Shin Dong-bin, the younger son and heir apparent of Lotte Group founder Shin Kyuk-ho, pledged Monday to do his best to resolve a bitter family conflict over control of the retail empire whose business spans from amusement parks and hotels to department stores in South Korea and Japan. “It [...]
SEJONG, Aug. 3 (Korea Bizwire) — South Korea’s retail sales edged down in June as the outbreak of Middle East Respiratory Syndrome (MERS) caused people to stay away from large retail outlets, a government report showed Monday. Retail sales reached little over 29.34 trillion won (US$25.15 billion) in June, down 0.6 percent from the 29.51 [...]
SEOUL, July 31 (Korea Bizwire) – With rapid growth in the character business that features collaborations between the emojis of mobile messengers like KakaoTalk of DaumKakao and Line of Naver, the two largest IT companies in Korea are enjoying the effect of killing two birds with one stone. As the “Kakao Friends” and “Line Friends” emojis raise [...]
SEOUL, July 27 (Korea Bizwire) – Domestic stationary companies are seeking ways to survive in a competitive marketplace that is shrinking with the increasing prevalence of ‘smart devices’ and the surge in competition from foreign stationary brands. According to industry watchers, Morning Glory, one of the major domestic stationary brands, launched a device named ‘Take [...]
SEOUL, July 27 (Korea Bizwire) – A grand “bargain sale” prepared by major department stores has finally opened the tightly closed purses of Korean customers. According to Lotte Department Store, which held a bargain sale event called “Lotte Black Super Show” at KINTEX in Ilsan, northern Seoul, from July 23 to 26, it recorded a total [...]
SEOUL, Jul. 27 (Korea Bizwire) — Massive sale events are in swing at South Korean department stores, hypermarkets and duty-free shops in their latest attempt to win back shoppers as consumer sentiment remains dim following the Middle East Respiratory Syndrome (MERS) outbreak, market watchers said Sunday. Lotte Department Store, the country’s biggest department store chain, [...]
SEOUL, Jul. 22 (Korea Bizwire) — GS Home Shopping Inc., the retail affiliate of South Korean business group GS, is set to enter the Russian home shopping market by joining forces with state-run telecommunications firm Rostelecom PJSC, the two companies said Wednesday. GS Home Shopping Chief Executive Officer Huh Tae-soo and Rostelecom President Sergey Kalugin [...]