SEOUL, Apr. 28 (Korea Bizwire) — A young Seven Eleven employee in her twenties has been awarded 20 million won for coming up with a brilliant idea for a product. Jang Chae-Yoon, merchandise director of Seven Eleven’s beverages department, was awarded a Value Champion Award by Lotte Group president Shin Dong-Bin on April 27 at [...]
SEOUL, April 27 (Korea Bizwire) – Online retailer Lotte.com’s ‘Smart Pick,’ a service which enables its customers to pick up ordered items from 30 Lotte Department Store branches around the nation, has been most appreciated by male and female Koreans in their thirties, said the company on April 26. According to a company report, customers [...]
SEOUL, April 23 (Korea Bizwire) – E-mart, which was the target of negative opinion after spot-checking the lockers of its employees last July, is again courting controversy as its internal policies still allow for the verification of employees’ belongings. On April 22, E-mart’s trade union announced that it would appeal to the National Human Rights [...]
SEOUL, April 21 (Korea Bizwire) – Foreign tobacco brands failed again to offer their products to Korean soldiers. According to the Ministry of National Defense Welfare Agency, the four tobacco brands that will be added this year were all from KT&G, including This Africa Mola. At this year’s bidding, brands from KT&G, PMI Korea, BAT Korea and JTI Korea [...]
SEOUL, April 21 (Korea Bizwire) — Shinsegae, a South Korean retail conglomerate, said Tuesday it plans to set up a new unit for duty-free shop operations, joining the race to win a bid to run new duty-free stores in downtown Seoul. Hotel Shilla, a major hotel chain and duty-free shop operator, and other existing duty-free [...]
SEOUL, April 16 (Korea Bizwire) – Riding Hallyu, or the Korean Wave, cosmetics products have developed into strong moneymaking export items as they set records for exports and trade surplus last month. According to the Korea Customs Service, the value of cosmetics exports in March was US$277.5 million, the largest amount since the office began [...]
SEOUL, April 15 (Korea Bizwire) – A convenience store chain in Korea plans to offer affordable smartphone battery replacements instead of time-consuming charging services. BGF Retail, the company behind the CU convenience store chain, announced on April 14 that it would begin the battery replacement service in May. The service offers fully charged smartphone batteries [...]
SEOUL, April 13 (Korea Bizwire) – Through the ongoing economic slowdown, consumption has decreased in almost every sector, but baby products have continued to sell well, hinting that Koreans do not reduce consumption for their children even when faced with economic hardship. According to a statement from Lotte Mart on April 12, overall revenue in the [...]
SEOUL, April 9 (Korea Bizwire) – The deepening economic stagnation has clearly shown the disparity between consumption patterns. As expenditures from the middle and lower classes decrease, retailers are targeting the upper class to attract more spending. Due to the prolonged economic slump, members of the middle and lower classes have been reluctant to open [...]
SEOUL, April 8 (Korea Bizwire) – It is commonly known that the department stores are the exclusive domain of women. However, the fact is that Korean men also enjoy shopping at luxurious stores, and their numbers are increasing. In addition, as more women are turning to overseas direct purchases or online shopping malls, retail giants [...]