SEOUL, Jan. 31 (Korea Bizwire) — Sales of cigarettes in South Korea inched down in 2023 for the first time in four years, but demand for electronic cigarettes logged a marked growth, the finance ministry said Wednesday. South Koreans purchased 3.61 billion 20-cigarette packs last year, down 0.6 percent from the previous year’s 3.63 billion [...]
SEOUL, Jan. 30 (Korea Bizwire) – The landscape of South Korea’s job market has shifted dramatically over the last decade, with a significant decline in the number of sales and retail positions, largely due to the growing dominance of online shopping over traditional stores. This shift has led to a noticeable reduction in personnel within the [...]
SEOUL, Jan. 27 (Korea Bizwire) –Coupang’s innovative approach of integrating its services, particularly through bundled products linked with Rocket Wow benefits, has proven to be highly effective. This strategy has led to significant achievements in both the video streaming and food delivery markets, with Coupang Play securing the second position in South Korea’s streaming market, [...]
SUWON, Jan. 25 (Korea Bizwire) — Shinsegae Property has announced the upcoming grand opening of Starfield Suwon on January 26, heralding a new era of Starfield 2.0 tailored to the MZ generation (born early 1980s to early 2000s). Located in Jeongja-dong, Jangan-gu, Suwon, Starfield Suwon spans eight floors underground and eight above ground, with a total [...]
SEOUL, Jan. 24 (Korea Bizwire) – An appellate court ruled on Wednesday against South Korea’s largest logistics firm, CJ Logistics, in a suit the company filed to reverse a national committee decision striking down CJ’s denial of collective bargaining for a delivery workers’ union. The courier union under the Korean Confederation of Trade Unions (KCTU), [...]
SEOUL, Jan. 24 (Korea Bizwire) — The Korean Customs Service has detected carcinogenic substances, including lead and cadmium, in counterfeit earrings being distributed in the country. In November of last year, the agency intercepted 142,930 items infringing intellectual property rights, including counterfeits imported into South Korea. Upon analyzing 83 products that come into direct contact with [...]
SEOUL, Jan. 23 (Korea Bizwire) — South Korea’s producer prices moved up 0.1 percent on-month in December due to the higher cost of agricultural products and gas, the central bank said Tuesday. The producer price index, a major barometer of consumer inflation, came to 121.19 last month, up from 121.02 tallied in November, according to [...]
SEOUL, Jan. 22 (Korea Bizwire) – The government announced several measures aimed at reforming regulations related to people’s livelihoods, including scrapping the policy mandating large retailers to close their stores on Sunday twice a month, officials said Monday. The announcement was made during a government-public debate, the fifth in a series of sessions, led by [...]
SEOUL, Jan. 16 (Korea Bizwire) — 11Street Co., a South Korean e-commerce company, said Tuesday it has filed a complaint with the anti-trust regulator over its bigger rival Coupang, Inc.’s alleged unfair practices. New York-listed Coupang has recently released the comparison between the maximum commission rates it receives from its product suppliers and competitors’ rates [...]
SEOUL, Jan. 13 (Korea Bizwire) –Coupang has re-established direct sales with LG Household & Health Care (LG H&H), nearly five years after the latter pulled its products from the Coupang platform following a dispute over pricing. This move comes with large manufacturers and distribution chains increasingly joining the anti-Coupang front, and Chinese shopping platforms like [...]