convenience store Archives | Be Korea-savvy
Two Days After Minimum Wage Hike, Opinions Mixed

Two Days After Minimum Wage Hike, Opinions Mixed

SEOUL, Jan. 3 (Korea Bizwire) — Workers and business owners across South Korea expressed mixed views two days after a dramatic minimum wage hike was implemented. Yesterday was the second day in South Korea that workers at the low end of the pay scale received an hourly wage of 7,530 won, but opinions varied on [...]

“PB” Private Brand Products Create Profits for Retailers, but Manufacturers Excluded

“PB” Private Brand Products Create Profits for Retailers, but Manufacturers Excluded

SEJONG, Aug. 16 (Korea Bizwire) – The increasing popularity of “PB Products” like E-mart’s “No Brand” goods is lining the pockets of retailers, but doing little to benefit manufacturers according to a report published by the Korea Development Institute (KDI). PB products (Private Brand) are a variety of consumer goods that are produced by manufacturers [...]

SK Telecom’s AI Program to Help Convenience-store Employees

SK Telecom’s AI Program to Help Convenience-store Employees

SEOUL, Jul. 24 (Korea Bizwire) — SK Telecom Co. said Monday it agreed to join forces with a major South Korean convenience store chain to deploy its artificial intelligence product NUGU to help store clerks. The country’s No. 1 mobile carrier said it will test-run NUGU at South Korea’s largest convenience store chain CU in [...]

S. Korean Convenience Store Chain Taps Iran

S. Korean Convenience Store Chain Taps Iran

SEOUL, Jul. 14 (Korea Bizwire) — BGF Retail Co., the operator of South Korea’s largest convenience store chain CU, said Friday it signed a franchise deal with an Iranian company marking the first overseas expansion for a convenience store operator. Under the agreement, home appliances firm Entekhab Investment Development Group will take charge of investment [...]

Convenience Stores Open New Biz Opportunities for Banks

Convenience Stores Open New Biz Opportunities for Banks

SEOUL, Jul. 14 (Korea Bizwire) — Convenience stores are emerging as the darling of South Korean lenders that are trying to cope with rising costs amid the fast-changing business environment centered on growth in online and mobile banking services. At the forefront of such a move are Internet-only banks such as K-Bank, which have no [...]

Shinsegae to Spend 300 Bln won in Loss-making Convenience Store Business

Shinsegae to Spend 300 Bln won in Loss-making Convenience Store Business

SEOUL, Jul. 13 (Korea Bizwire) — Retail giant Shinsegae said Thursday it will invest 300 billion won (US$263 million) over the next three years to help its loss-making convenience store business cope with the rapidly growing market. Shinsegae, which tapped into the convenience store market in 2014 with an acquisition, has been suffering from losses [...]