SEOUL, Jan. 28 (Korea Bizwire) – South Korea’s imports of Japanese beer plunged nearly 86 percent in 2020 due to a local boycott of goods from the neighboring country, data showed Thursday. Seoul brought in US$5.67 million worth of Japanese beer last year, down 85.7 percent from a year earlier, according to the data from [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korean retailers are introducing a string of eco-friendly products, including bottled water with no labels, and plastic cup coffee without a straw. On Tuesday discount store chain Lotte Mart released two types of its own private-label brand (PB) bottled water that have no label on the bottle – [...]
SEOUL, Jan. 26 (Korea Bizwire) – South Korean retail giant Shinsegae Group said Tuesday it will acquire a professional baseball club owned by SK Group as it seeks to boost marketing with the sports team. E-Mart Inc., the country’s biggest discount store chain run by Shinsegae, has agreed to buy the SK Wyverns of the [...]
SEOUL, Jan. 25 (Korea Bizwire) — South Korean exports of red pepper paste jumped more than 35 percent in 2020 from a year earlier thanks to the global popularity of Korean pop culture, known as the Korean Wave, data showed Monday. Overseas shipments of red pepper paste, called “gochujang” in Korean, came to US$50.93 million [...]
SEOUL, Jan. 22 (Korea Bizwire) — Brick-and-mortar malls are introducing various new services including electric vehicle (EV) charging stations, currency exchange, and even used phone purchases to survive the fierce competition they are engaged in with online shopping portals. Major discount store chain operators including Lotte Mart, E-Mart, and Homeplus all currently operate EV charging [...]
SEOUL, Jan. 21 (Korea Bizwire) — Local retail sales of processed rice products shot up nearly 11 percent in 2019 from a year earlier due to the growing demand from single-member households while more people opt for convenient meals, data showed Thursday. Retail sales of processed rice products, including ready-to-eat steamed rice, porridge, and noodles, [...]
SEOUL, Jan. 14 (Korea Bizwire) — South Korean retailers are competing over same-day delivery as the coronavirus pandemic drags on. Demand for same-day delivery has been increasing among double-income households as it allows them to receive any delivery if ordered two or three hours before they get off work. The hypermarket chain Lotte Mart reported [...]
SEOUL, Jan. 4 (Korea Bizwire) — Customer satisfaction guarantees offering full refunds are spreading among South Korean retail industry. Based on judgment that an aggressive refund policy could contribute to attracting more customers, the nation’s major retailers are actively introducing policies guaranteeing satisfaction and promising to offer full refunds to dissatisfied customers. South Korean hypermarket [...]
SEOUL, Dec. 23 (Korea Bizwire) — Retail sales in South Korea moved up 6.3 percent in November from a year earlier on the back of the nationwide consumption-boosting events aimed at overcoming the economic jitters from the COVID-19 pandemic, data showed Wednesday. The combined sales of 26 major offline and online retailers reached 12.41 trillion [...]
SEOUL, Dec. 18 (Korea Bizwire) — Lotte Global Logistics Co., a logistics unit of South Korean retail giant Lotte Group, said Thursday it will expand the operation of eco-friendly cold chain electric trucks that provides temperature-controlled environments during transportation and storage. After completing the trial operation of cold storage electric trucks in April and May, [...]