SEOUL, Mar. 28 (Korea Bizwire) – In an exciting collaboration with the automotive lifestyle brand Peaches, Shinsegae Department Store has announced the introduction of Harrington Cars, miniature vehicle models based on iconic designs from renowned automakers like Mercedes-Benz and Ferrari – a first in South Korea. Harrington Cars are meticulously crafted at half the size of [...]
SEOUL, Mar. 28 (Korea Bizwire) – South Korea’s e-commerce market has become the battleground for a high-stakes investment war between domestic giant Coupang and Chinese powerhouse AliExpress, as both companies aggressively pursue market dominance. The clash intensified after AliExpress, owned by the Alibaba Group, announced plans to invest $1.1 billion (1.5 trillion won) in South Korea [...]
SEOUL, Mar. 27 (Korea Bizwire) — Coupang Corp., South Korea’s leading e-commerce company, said Wednesday it will invest 3 trillion won (US$2.23 billion) for the next three years to expand its renowned “rocket delivery” nationwide in a bid to solidify its dominance in the competitive market. The plan includes the establishment of over eight fulfillment [...]
SEOUL, Mar. 27 (Korea Bizwire) – While giants like E-Mart are trimming their workforces, a clutch of discount retailers led by chains like Daiso and Chinese e-commerce platforms like AliExpress and Temu are aggressively hiring in South Korea. Their lure? Offering consumers unbeatable value for money on a wide range of merchandise. According to figures released [...]
SEJONG, Mar. 25 (Korea Bizwire) – Over the past five years, South Korean customs authorities have seized imported counterfeit goods worth over 2.1 trillion won, with products originating from China accounting for a staggering 1.8 trillion won, highlighting an influx of intellectual property violations. According to data from the Korea Customs Service released on Friday, the [...]
SEOUL, Mar. 25 (Korea Bizwire) – Alibaba Group, the Chinese e-commerce behemoth behind platforms like AliExpress, has announced plans to invest $200 million to establish a logistics center in South Korea, setting off alarm bells across the country’s e-commerce and logistics industries. The move to secure a Korean logistics hub, the first since Alibaba’s entry into [...]
SEOUL, Mar. 19 (Korea Bizwire) – With apple prices hitting record highs and fresh food costs skyrocketing, retail chains in South Korea are deploying innovative techniques to extend the shelf life of fruits and vegetables, seeking to minimize wastage of these increasingly precious and perishable commodities. At Lotte Mart, the company has been installing “Pure Space” [...]
SEOUL, Mar. 19 (Korea Bizwire) — Swedish furniture giant IKEA will invest 300 million euros (US$327 million) in South Korea over the next three years to gain a bigger share in Asia’s fourth-biggest economy, the company’s retail manager has said. IKEA, which will celebrate 10 years in business here in December, currently operates four stores [...]
SEOUL, Mar. 19 (Korea Bizwire) – As the Los Angeles Dodgers kicked off their MLB World Tour in the South Korean capital, the wives of the team’s players embarked on a pilgrimage of their own — to the hallowed grounds of K-beauty retail mecca Olive Young. On Thursday afternoon, a group of around 10 wives, including [...]
SEOUL, Mar. 19 (Korea Bizwire) – Starting March 26, members of Coupang’s premium subscription service, Wow, will be able to order food through the company’s delivery platform, Coupang Eats, without paying any delivery fees, the company announced. In a bid to alleviate the burden of delivery costs for consumers, Coupang Eats will introduce an “unlimited free [...]