SEJONG, Dec. 4 (Korea Bizwire) — South Korean convenience store operators agreed Tuesday not to engage in cut-throat competition in the latest move to better protect struggling franchisees. A key centerpiece of the voluntary deal calls for CU, GS25 and Seven-Eleven and three other convenience store brands to decide “carefully” over whether to open a [...]
SEOUL, Nov. 20 (Korea Bizwire) — Mobile payments at South Korean convenience stores have more than doubled this year thanks to the greater use of smartphones and the expansion of mobile settlement services, a market player said Tuesday. South Korea’s top convenience store chain CU said the number of so-called easy mobile payments at its [...]
SEOUL, Nov. 8 (Korea Bizwire) — For Chinese tourists visiting South Korea, there are must-haves that they need to buy at South Korea’s omnipresent convenience stores. CU, a major convenience store franchise, said Chinese tourists bought Binggrae Co.’s Banana-flavored Milk the most, followed by Crami Crab Sticks, Nongshim Co.’s Shin Ramyun Black Cup Noodles, herbal [...]
SEOUL, Sept. 17 (Korea Bizwire) — Convenience stores situated in the nation’s leading industrial complexes were found to be playing the dual role of restaurant and drugstore during the nation’s major holidays, providing food and medicine to those unable to return to their hometowns. The National Convenience Store Association announced today that the sales ratio [...]
SEOUL, Sept. 17 (Korea Bizwire) — The previous world record for the greatest number of people simultaneously performing the ice A new survey has found that women are more likely to purchase larger-sized beverages than men at convenience stores. According to an analysis conducted by GS Retail, the operator of the convenience store chain GS [...]
SEOUL, Aug. 7 (Korea Bizwire) — A new system jointly developed by police authorities and the convenience store chain CU that allows employees to report criminal activities has been effective at cutting down on the filing of unnecessary police reports. Police revealed yesterday that the “emergency reporting system” that that was implemented at all of [...]
SEOUL, Jul. 10 (Korea Bizwire) — More South Korean convenience stores are set to launch in-house products as local retailers move to attract more consumers with price competitiveness, industry sources said Tuesday. E-Mart24 Inc., the convenience store arm of South Korean retail giant Shinsegae, said it is planning to unveil its own private label product [...]
SEOUL, Jun. 19 (Korea Bizwire) — Local convenience stores saw their sales jump as tens of thousands of South Koreans took to the streets to cheer on their national football team in the first game of its World Cup campaign, retailers here said Tuesday. BGF Retail Co., the operator of the country’s largest convenience store [...]
SEOUL, Apr. 13 (Korea Bizwire) — When Chung Sung-yeop opened a franchise convenience store in a commercial district of northern Seoul in 2015, there was one competing store within a 1-kilometer radius. Since then, three more convenience stores have opened within easy reach of his outlet, squeezing profits and hurting sales. “Literally, the convenience store [...]
SEOUL, Apr. 1 (Korea Bizwire) — South Korea’s convenience store chains are introducing private-label (PB) products that combine the features of best-selling items to entice clients seeking new products at lower prices, industry sources said Friday. 7-Eleven’s PB Yoghurt Flavored Jelly, a combination of yogurt and jelly, has gained popularity since its debut in 2016 [...]