SEOUL, Sept. 8 (Korea Bizwire) — A fully automated smart store opened in Seoul on Wednesday. South Korean convenience store franchise E-Mart 24, jointly with Shinsegae I&C, set up a smart store in shopping complex Starfield COEX, located in a heavily populated area unlike other stores with automatic payment systems. Customers can type in a [...]
SEOUL, Sept. 1 (Korea Bizwire) — The sale of South Korea’s No. 2 dairy firm Namyang Dairy Products Co. fell through Wednesday as it renounced a contract to sell a controlling stake. Three months earlier, Namyang Dairy Products Chairman Hong Won-sik and his family signed a deal with local private company Hahn & Company to [...]
SEOUL, Aug. 30 (Korea Bizwire) — South Korea’s bottled mineral water market is enjoying a boom thanks to an increase in household demand on the back of the prolonged ‘stay-at-home’ trend resulting from the COVID-19 pandemic. The first half sales of Jeju Samdasoo, a brand of mineral water produced by Jeju Province Development Corp. (JPDC), [...]
SEOUL, Aug. 25 (Korea Bizwire) — Large discount stores have emerged as the main outlets for consumers to buy imported wine, a consumer watchdog said Tuesday. According to a survey conducted by the Korea Consumer Agency (KCA) of 1,000 local consumers who had purchased imported wine in the past year, Chilean wines accounted for the [...]
SEOUL, Aug. 13 (Korea Bizwire) – A consortium led by GS Retail Co., the supermarket operating unit of GS Group, has acquired Yogiyo, the No. 2 online food delivery app in South Korea, for 800 billion won (US$684.3 million), the retailer said Friday. The consortium, including Affinity Equity Partners and Permira, has reached the deal [...]
SEOUL, Aug. 6 (Korea Bizwire) — MINI, BMW AG’s sub-brand for compact vehicles, has joined hands with Starbucks Korea to come up with a new style of marketing. Almost all of the limited merchandise released by the two companies has been sold out after just three days. Considering that this is a seasonal event open [...]
SEOUL, Aug. 6 (Korea Bizwire) — BGF Retail Co., the operator of South Korea’s major convenience store chain CU, saw better performance in the second quarter driven by the popularity of craft beer. The company on Thursday said in a regulatory filing that it posted 58.7 billion won ($51.3 million) in operating profit for the [...]
SEOUL, July 30 (Korea Bizwire) – Gulping a can of beer alone after a grueling night shift has been a monthslong ritual for Kim Jae-yeon, a nurse at a general hospital in Seoul, since her favorite watering hole shut down amid the pandemic and the hospital she works at told medical staff to avoid gatherings. [...]
SEOUL, July 29 (Korea Bizwire) — From eBay Korea to Starbucks Coffee Korea, Shinsegae Group vice chairman Chung Yong-jin’s aggressive M&A strategy is attracting significant attention. E-Mart Inc., a discount store chain under Shinsegae Group, bought an additional 17.5 percent stake in Starbucks Coffee Korea on Tuesday, paying 474.2 billion won (US$412 million) to become [...]
SEOUL, July 20 (Korea Bizwire) — With the stock investment fever engulfing individual investors in South Korea, a string of large retailers have released stock-related products that are enjoying growing popularity. Convenience store chain CU is in talks with various securities firms to collaborate on a series of products. In February, the company joined hands [...]