SEOUL, Dec. 9 (Korea Bizwire) – Stores and restaurants near Gwanghwamun Square, which has been the center of mass candlelight protests for almost two months, have seen sales soar with the ongoing civil unrest. According to KB Kookmin Card, the number of credit card transactions increased by 24 percent to 1,086,910 compared to last year [...]
SEOUL, Dec. 1 (Korea Bizwire) – The Bank of Korea announced Thursday a pilot project to allow convenience store customers to charge their prepaid public transportation cards using spare change, the first step forward to a “coinless society.” According to representatives, the BOK will begin a selection process of convenience store franchises that will take [...]
SEOUL, Nov. 30 (Korea Bizwire) – Convenience stores have become the largest market for selling alcohol drinks, a market report showed Wednesday, apparently due to more people choosing to drink alone or with their families. The retail index provided by information analysis firm Nielsen Korea said convenience stores ousted discount chains to become the biggest [...]
SEOUL, Nov. 16 (Korea Bizwire) – The number of convenience stores in South Korea has surpassed 33,000 as of the end of October this year, marking a rapid growth since the opening of the first store 27 years ago, industry statistics showed Wednesday. The number indicates a significant increase from 28,994 counted at the end [...]
SEOUL, Oct. 11 (Korea Bizwire) – Around 15 convenience stores were newly opened in South Korea everyday on average last year, a ruling lawmaker said Tuesday, urging the fair trade watchdog to seek measures to avoid excessive competition in the market. According to the data compiled by Rep. Yoo Ui-dong of the Saenuri Party, 5,508 [...]
SEOUL, Oct. 5 (Korea Bizwire) – Once a diet staple, rice consumption is rapidly declining in Korea. Over the past 30 years, Korea’s rice consumption per capita has more than halved, dropping from 128.1kg in 1985 to 62.9kg in 2015, with Koreans adopting Westernized diets seeking alternatives like wheat or bread. Amid the changing food [...]
SEOUL, Oct. 4 (Korea Bizwire) – “Collaboration” is the latest trend in Korea’s food industry, as companies are now joining hands to develop new products. Dongwon F&B is among the more active food product manufacturers seeking such relationships. The company recently launched Denmark Drinking Yoghurt Green Plum, a joint product developed alongside Woongjin Foods, by [...]
SEOUL, Sept. 29 (Korea Bizwire) – Ticket Monster (T-Mon), Korea’s leading social commerce platform, announced Thursday that it will be supplying convenience store franchise CU with Xiaomi products for offline distribution. CU outlets have already been selling Xiaomi portable battery packs (5000mAh) since the beginning of September, which were also supplied by T-Mon, but they [...]
SEOUL, Sept. 19 (Korea Bizwire) – Lunch boxes sold at convenience stores have grown increasingly popular in the past year, roughly tripling in sales and reshaping the lunch culture for employees and students in Korea. Lunch meals sold at convenience stores come relatively cheap, ranging between 3,000 won (US$2.66) and 4,000 won, with the quality [...]
SEOUL, Sept. 7 (Korea Bizwire) – Starting October 5, Korea will launch its first debit card cashback service at convenience stores. Although a popular practice in a number of western countries, the service has not yet been introduced to Korean consumers. In a nutshell, the service is offered to customers who wish to add a certain [...]