“Counterfeit goods are an inevitable part of economic development but are still like rotten apples. Time is needed to ultimately solve the problem. Counterfeits tend to be most rampant when an economy’s per-capital gross domestic product is at the US$5,000-level. China is going through such a phase that advanced economies like Europe and the United [...]
SEOUL, Feb. 10 (Korea Bizwire) — E-mart, South Korea’s biggest discount chain, said Tuesday it is launching sales at an Alibaba-powered online shopping mall, its latest effort to revive retail footing in the world’s second-largest economy after previous expansion attempts flopped. Starting mid-March, E-mart will sell some 100 food and electronic products, such as soybean [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korean port city Incheon said Monday it is in talks with Chinese retail giant Alibaba Group for an investment that informed sources said would be in the range of 1 trillion won (US$924 million). “It is true that we are in talks with Alibaba for investments in [...]
SEOUL, Dec. 2 (Korea Bizwire) – Korean management agency KeyEast and Pandakorea.com, which sells Korean products to foreigners, have joined hand in hand to expand their business in the Chinese market. The star agency for many Korean actors and actresses including Kim Su-hyun, Bae Yong-jun and Han Ye-seul decided to invest 3.3 billion won, equivalent to [...]
SEOUL, July 30 (Korea Bizwire) — When President Xi Jinping of China visited South Korea earlier this month, around 200 business delegates, including CEOs of major Chinese IT companies like Alibaba, Baidu, Huawei and China Telecom, accompanied him on the trip. All of the Chinese companies are reportedly, gearing up to push deeper into Korean market with [...]
BEIJING, June 25, 2014 (Korea Bizwire)–Digital wallets1 adoption is growing in China, according to a new report from Forrester Research, Inc. (FORR). The growth is attributed to the burgeoning eCommerce market, explosive growth of smartphone penetration, and mobile payment technologies in recent years that have made digital wallets a convenient payment option. Aggressive promotional [...]
SEOUL, Korea, April 10 (Korea Bizwire) – What could be a potential archrival of a financial company? Usually, it could be other competing financial companies. In Korea, however, diversified market environment changed the notion. Can you imagine that a financial company is competing with a coffee chain or an Internet company? It happens, though. As [...]
![[China Report] Chinese Social Commerce Industry Undergoing a Wave of Consolidation](http://koreabizwire.com/wp/wp-content/uploads/2014/03/4965550763_4ef4648794_z.jpg "[China Report] Chinese Social Commerce Industry Undergoing a Wave of Consolidation")
SEOUL, Korea, Mar 28 (Korea Bizwire) – According to data released recently by the China International Electronic Commerce Center, the number of social commerce sites closed for business since the beginning of the first social commerce site in China has been 5,376 out of total 6,246 operators. The closure rate is as high as 86 [...]