SEOUL, May 13 (Korea Bizwire) — E-Mart Inc., South Korea’s largest discount store chain by sales, on Thursday said its net profit more than doubled in the first quarter from a year earlier, largely helped by a rebound in offline sales. The retail giant’s net profit for the January-March period came to 102.1 billion won [...]
SEOUL, May 12 (Korea Bizwire) — Home shopping companies are stepping up competition in the field of live commerce, or TV home shopping-style mobile shopping, to address demand from the MZ generation, who are more acquainted with watching videos on mobile phones. CJ OnStyle recently renovated the ‘live show’ tab on its mobile application to [...]
SEOUL, May 12 (Korea Bizwire) — Hite Jinro Co., South Korea’s second-largest beverage company, said Wednesday it has kicked off exports of its popular lager beer brand Terra. Hite Jinro said it will export the first batch of 1.2 million Terra bottles to the United States, Hong Kong and Singapore. Sales of the Terra lager [...]
SEOUL, May 6 (Korea Bizwire) — Coronavirus self-test kits became available in supermarkets and convenience stores across the country Thursday as South Korea is seeking to step up its testing capacity with no letup of new virus cases in sight. Self-test kits by two local drugmakers — Humasis Inc. and SD Biosensor Co. — have [...]
SEOUL, April 28 (Korea Bizwire) — Buyers from major department stores are moving heaven and earth to procure better products, as many of small and medium-sized enterprises which were once standing cap in hand to ask department stores to sell their products are now shifting focus towards e-commerce platforms. A Hyundai Department Store buyer recently [...]
SEOUL, April 6 (Korea Bizwire) — To better cope with the changing face of the retail market, super supermarket (SSM) chains are strengthening their fresh food sections and launching near-distance delivery services. Homeplus Express, run by South Korean hypermarket chain operator Homeplus Co., transformed about one third of its roughly 300 outlets nationwide to ones [...]
SEOUL, April 1 (Korea Bizwire) — CU has opened its first outlet in Malaysia as part of its overseas push, the operator of South Korea’s top convenience store chain said Thursday. The 165-square-meter outlet started operations at a shopping mall in a middle-class neighborhood in the Malaysian capital of Kuala Lumpur, according to BGF Retail [...]
SEOUL, March 24 (Korea Bizwire) — KT&G Corp., South Korea’s dominant tobacco company, said Wednesday it is aiming to earn half of its revenue from overseas by 2025 as it seeks to open more overseas subsidiaries and explore new markets. Currently, KT&G earns 40 percent of its tobacco sales from exports. The company operates sales [...]
SEOUL, March 19 (Korea Bizwire) — The number of big-name retailers’ beauty stores in South Korea declined for the first time in 2020 as more customers turned to online shopping amid the coronavirus pandemic, data showed Friday. The country’s three major health and beauty (H&B) chains — Olive Young, lalavla and LOHB’s — had a [...]
SEOUL, March 18 (Korea Bizwire) — Convenience store chain CU recaptured the No. 1 position in South Korea in terms of outlet numbers in 2020, one year after losing the title, data showed Thursday. CU, operated by BGF Retail Co., had 14,923 outlets across the nation as of end-2020, up 1,046 from the previous year [...]