SEOUL, Jul. 2 (Korea Bizwire) – In a move that contrasts with its main competitor, Coupang Eats announced on July 1 that it will continue its policy of waiving packaging fees for all partnered restaurants, reinforcing its commitment to supporting small and medium-sized businesses in the food service industry. This decision comes as Baedal Minjok (Baemin), [...]
SEOUL, Jul. 2 (Korea Bizwire) – Hyundai Department Store announced on July 1 that it is introducing an AI-powered advertising designer called OneStep in collaboration with GiantStep, a company specializing in real-time content and generative AI solutions. OneStep is a program that generates advertising images based on user-input event descriptions. For instance, when a user enters [...]
SEOUL, Jul. 1 (Korea Bizwire) – South Korean e-commerce platforms appear to be regaining strength after facing intense pressure from Chinese competitors like AliExpress and Temu last year. This resurgence comes as concerns over the safety of low-cost Chinese products have risen, and domestic platforms have launched aggressive promotional campaigns to win back customers. According to [...]
SEOUL, Jun. 25 (Korea Bizwire) — Retail sales in South Korea rose by 8.8 percent on-year in May, driven by promotional events launched by online shopping platforms, data showed Tuesday. The combined sales of 25 major offline and online retailers amounted to 16.3 trillion won (US$11.7 billion) last month, compared with 14.9 trillion won a [...]
SEOUL, Jun. 25 (Korea Bizwire) – The children’s clothing market in South Korea is experiencing steady growth despite a declining birth rate and shrinking child population, according to recent industry analysis. Data from market research firm Euromonitor reveals that the domestic children’s clothing market was worth 2.45 trillion won in 2023, a 33% increase from 1.84 [...]
SEOUL, Jun. 21 (Korea Bizwire) – Coupang, South Korea’s largest e-commerce platform, is taking action against vendors on AliExpress, the Chinese online retail service, for unauthorized use of its brand and imagery, including its recognizable rocket delivery logo. According to industry sources on June 20, numerous products listed on the Korean-language AliExpress website claim to be [...]
SEOUL, June 20 (Korea Bizwire) – McDonald’s Korea, the local unit of fast food giant McDonald’s Corp., said Thursday it has been forced to halt sales of french fries because of concerns about “substandard” frozen potato. In a statement, McDonald’s Korea said, “Due to an unexpected issue within our supply chain, we are temporarily unavailable [...]
SEOUL, Jun. 20 (Korea Bizwire) — Swedish furniture giant IKEA said Thursday it has expanded price cuts on its products in South Korea to provide more products at lower prices. IKEA has cut the prices of 330 products by 12 percent starting Thursday after lowering the prices of 360 products in April and 300 products [...]
SEOUL, Jun. 19 (Korea Bizwire) – As the banner announcing a “50-80% Clearance Sale” hung over the H Optical shop at the Homeplus store in Anyang, the mood among the tenants was a mix of anger and resignation. In late April, these small business owners, operating rental shops within the Homeplus outlet, received abrupt notice to [...]
SEOUL, Jun. 17 (Korea Bizwire) – In a delayed disclosure, the French luxury conglomerate LVMH revealed that nearly 2,900 South Korean customers’ personal data was compromised in a cyberattack on its high-end watch brand Tag Heuer in late 2019 and 2020. The breach, which also affected customers globally, has reignited concerns over the protection of personal [...]