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 [...]
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 [...]
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 [...]
SEOUL, Jul. 10 (Korea Bizwire) — With the popularity of convenience stores and online shopping among South Koreans growing rapidly, the number of shoppers who rely heavily on both online shopping sites and convenience stores is on the rise. According to a new report released by Shinhan Card on recent retail trends, the number of consumers [...]
SEOUL, May 16 (Korea Bizwire) – South Korean convenience store giant CU is continuing its efforts to ramp up employee safety with a newly introduced counter safety barrier that will help protect employees in case of an emergency, including violent crimes. The newly opened Yeoksam-dong branch in Gangnam District is the very first CU store [...]
SEOUL, April 11 (Korea Bizwire) – The Korean National Police Agency (KNPA) announced yesterday it has teamed up with CU, the largest convenience-store chain in South Korea, to install a touchscreen emergency system in every store by the end of the year as part of efforts to ramp up security and prevent crime. The latest collective [...]
SEOUL, April 4 (Korea Bizwire) – South Korea’s top portal operator Naver Corp. said Tuesday that foreigners can shop for goods at local convenience stores through the company’s mobile translation application Papago. Under the agreement with GS Retail Co., a major convenience chain operator, Naver will update its application this month with English, Japanese, and [...]
CHUNGCHEONG, SOUTH KOREA, March 9 (Korea Bizwire) — A 25-year-old man named Kim who was arrested last week on robbery charges in North Chungcheong Province told police that he intentionally committed a crime to go to jail after his business failed. Kim entered a local convenience store he frequents, located in Eumseong County, around 7 p.m. last [...]
SEOUL, Feb. 23 (Korea Bizwire) – The popularity of Pokémon GO is gradually waning, but there are still millions of players flicking their fingers on their smartphone screens trying to “catch’em all.” During the second week of February (February 6 to 10), an estimated 5.63 million people played Pokémon GO, which was a drop from [...]
SEOUL, Feb. 14 (Korea Bizwire) – In a new addition to the list of unique convenience stores in South Korea, Shinsegae’s convenience store franchise With Me opened Monday a new outlet at the Seoul Arts Center with classical music as its main theme. The 79-square-meter store is With Me’s 1,830th outlet. It has a fan-shaped [...]