SEOUL, Nov. 22 (Korea Bizwire) — The pandemic has prompted many shoppers to make their purchases online, resulting in booming online sales across the retail landscape with the exception of a few regulated fields. The value of online shopping transactions stood at 46.9 trillion won (US$40.8 billion) in the April to June period of this [...]
SEOUL, Nov. 18 (Korea Bizwire) — Sales of outdoor activity products are on the rise as more and more people are eschewing the ‘stuck at home’ lifestyle resulting from the coronavirus pandemic, announced Shinsegae Department Store, one of the nation’s leading retailers, on Wednesday. The retailer said sales of outdoor-related products increased by 10 percent [...]
SEOUL, Nov. 8 (Korea Bizwire) — A shortage of urea water solution resulting from Chinese export restrictions is expected to expedite the process of introducing electric cargo trucks in the logistics and retail industry. Hanjin Transportation Co., the logistics arm of Hanjin Group, has been testing electric/hybrid delivery vehicles on Jeju Island since December of [...]
SEOUL, Nov. 8 (Korea Bizwire) — South Korean retailers are increasingly turning to metaverse platforms for marketing. Metaverse, a combination of meta (meaning beyond) and verse (from universe), refers to a three-dimensional virtual shared world in which all activities can take place with the help of augmented- and virtual-reality services. BGF Retail Co., the operator [...]
SEOUL, Nov. 2 (Korea Bizwire) — As the public’s interest in health and weight control increased following the COVID-19 pandemic, ‘low food’ that has been regarded as a niche product is emerging as a main product for the South Korean food industry. Low food refers to food that has reduced levels of specific ingredients such [...]
SEOUL, Oct. 22 (Korea Bizwire) — South Korea’s financial regulator plans to begin a probes into Starbucks-issued unregistered pre-paid cards. The Financial Supervisory Service has received a list of some 50 companies, including Starbucks Coffe Korea, which are operating an unregistered prepaid card system. Starbucks allows customers to charge their Starbucks cards through its mobile [...]
SEOUL, Oct. 21 (Korea Bizwire) — An increasing number of online shopping malls and online exclusive brands that have enjoyed robust growth in the COVID-19 era are opening physical stores in recent days as part of their new marketing initiatives targeting the members of the “MZ generation,” a Korean term referring to millennials and Generation [...]
SEOUL, Oct. 19 (Korea Bizwire) — Beset by curfews and fewer customers amid the coronavirus pandemic, the retail industry in South Korea is now pinning hopes on a business rebound, as the government is set to ease long-enforced strict restrictions under the “Living with COVID-19″ scheme set to be introduced next month. Department stores, supermarkets [...]
SEOUL, Oct. 15 (Korea Bizwire) — Beer has long been a key ingredient of mixed drinks in South Korea, but changing appetites and the extended coronavirus pandemic have turned consumers toward diverse and unique flavors of craft beer. Craft beer sales are on the rise, as a growing number of people work from home due [...]
SEOUL, Oct. 14 (Korea Bizwire) — E-commerce giant Coupang Inc. is facing accusations that it has been manipulating the working hours of employees. Rep. Yun Jun-byeong of the ruling Democratic Party claimed during government inspections of the Ministry of Employment and Labor and its sub-agencies on Tuesday that Coupang was using an application called ‘Coupunch’ [...]