SEOUL, May 28 (Korea Bizwire) — Retail and chemical giant Lotte Group is ramping up efforts to tap deeper into Southeast Asia and advanced economies amid falling sales in China, once its biggest overseas market, industry sources said Tuesday. Overseas sales of the conglomerate came to 8.9 trillion won (US$7.49 billion) in 2018, up 7.2 [...]
SEOUL, May 27 (Korea Bizwire) — While South Korean retail companies are competing over speed in the delivery market, the crowdfunding market, which typically requires at least a month before products are delivered, is rising as the new form of consumer activity in the country. Crowdfunding is based on pre-orders made by customers. If enough [...]
SEOUL, May 27 (Korea Bizwire) — South Korea will be conducting a component analysis of products from Juul, America’s most popular electronic cigarettes, to provide citizens with information about harmful substances included in the new cigarettes soon to be introduced to the country. “Juul is now available in the local market, and we are going [...]
SEOUL, May 24 (Korea Bizwire) — Concerns are spreading that smoking among young people will increase as Juul, the No. 1 liquid tobacco brand in the U.S., is set to officially launch in South Korea on Thursday. The Juul, which was released in the U.S. in 2015 and sold in Canada, Britain, Spain, France and [...]
SEOUL, May 24 (Korea Bizwire) — The market share of heat-not-burn (HNB) electronic cigarettes has risen more than five times over the past two years on tobacco makers’ aggressive marketing, data showed Friday. Sales of HNB e-cigarettes stood at 92 million packs in the first quarter of this year, up a whopping 34 percent from [...]
SEOUL, May 22 (Korea Bizwire) — Juul Labs Inc. said Wednesday that its e-cigarette brand will be launched in South Korea later this week as the U.S. company eyes the burgeoning market here. The Juul — which packages nicotine salts from leaf tobacco into one-time use cartridges — is to hit local shelves on Friday, [...]
SEOUL, May 14 (Korea Bizwire) — Inspired by the abandoned plastic from the stomach of a whale that died in Ulsan, a social enterprise is receiving positive reviews for producing and selling eco-friendly whale dolls that reflect on the protection of the marine environment. SK Innovation Co., South Korea’s top oil refiner, announced on Monday that [...]
SEOUL, May 13 (Korea Bizwire) — In the near future, ovulation tests will be available at convenience stores, just like pregnancy test machines. The Ministry of Food and Drug Safety (MFDS) reported on Sunday that it had announced a partial revision of the “Regulations on Medical Device Authorization, Reporting, and Review,” which exempts ovulation test [...]
SEOUL, May 10 (Korea Bizwire) — As an increasing number of South Korean consumers are engaging in direct purchases overseas, there are also a higher number of products recalled by foreign companies being imported, products that are therefore banned from being distributed in South Korea. While the government bans sales of products placed on recall [...]
SEOUL, May 10 (Korea Bizwire) — The lowest prices for the Galaxy S10 and iPhone XS in South Korea’s open market are the fifth most expensive among 17 major countries in the world. The Korea Communications Commission (KCC) announced on Thursday that the lowest prices for Samsung Electronics’ Galaxy S10 (128GB) and Apple’s iPhone XS [...]