SEOUL, July 11 (Korea Bizwire) – The Korean Wave is set to make a splash in the inland areas of China. Omgworld, a Korean retail business consulting company, plans to advance into Hohhot, the capital city of China’s Inner Mongolia Autonomous Region, by distributing K-wave related products jointly with a local Chinese department store. Omgworld announced [...]
SEOUL, July 11 (Korea Bizwire) – Highlighting “wellness” feature of natural and healthy ingredients and better flavors, CJ CheilJedang wants to profit from an increasingly lucrative sector in the food market which is valued at about 50 billion won (US$49 million) : the pasta sauce market According to CJ, it is contemplating a plan to expand the [...]
SEOUL, July 10 (Korea Bizwire) – A study revealed a huge gap in income between the top pyramid salespersons and the rest who lie underneath them, belying some of the promising offers by the companies and warning prospective pyramid salespeople. According to a report “2013 Major Statistics on the Sales Figure and Support Compensations of [...]
SEOUL, July 8 (Korea Bizwire) – In order to give parents with small children the peace of mind, SK Telecom has introduced a new wearable phone “T Kids Phone JooN” with accompanying rate plans. The largest mobile telecom operator in Korea said on July 7 that it would hold a promotional event on the 8th for housewife [...]
SEOUL, July 6 (Korea Bizwire) – Amid the protracted recession in which consumers are reluctant to open up their wallets, high-end import brands posted mixed results for the fiscal year 2013. According to the Data Analysis, Retrieval and Transfer System by the Financial Supervisory Service on July 4, Burberry Korea’s sales revenue was 239.3 billion won [...]
SEOUL, July 2 (Korea Bizwire) – As China’s one-child policy is to be eased from 2015, Korean baby product companies are making strategic moves with an aim to expand their shares in the baby product market in China. According to baby product industry sources, China plans to abolish the long-cherished one-child policy, so the nation’s relevant [...]
SEOUL, June 27 (Korea Bizwire) – GS25, Korea’s major convenience store franchiser, is enjoying a sharp increase in the sales of MVNO (mobile virtual network operator) phones at its stores nationwide. Mobile virtual network operators obtain bulk access to network services at wholesale rates and set retail prices accordingly. That’s how MVNO service providers typically charge lower rates [...]
SEOUL, June 27 (Korea Bizwire) – A study shows that nine out of ten foreign consumers who have purchased Korean goods directly online instead of via importers or local retailers, have intent to repurchase. However, it also revealed many of them have experienced inconveniences in the purchasing process. The Korea International Trade Association (KITA) has conducted [...]
SEOUL, June 22 (Korea Bizwire) – “Tobot,” the robot brand of Young Toys Inc. that became a smash-hit item in last year’s Christmas season, will go global with orders from overseas flooding in. According to a Young Toys official on June 23, the company will send the first shipments of its Tobot toys accompanied with [...]
NEW YORK, June 19 (Korea Bizwire)–U.S. retailers seeking to grow their businesses with online shoppers overseas should look to South Korea, according to a report released today from Borderfree, a market leader in international cross-border ecommerce solutions. The report, part of Borderfree’s series of intelligence pieces on high-interest markets for ecommerce, points to South Korea [...]