SEOUL, Feb. 3 (Korea Bizwire) — South Korean convenience stores are engaging in various activities to promote eco-friendly consumption. 7-Eleven announced Thursday that it will replace all regular-sized plastic ice cups with paper cups. Following the introduction of paper ice cups in January last year, the convenience store had been offering both plastic and paper [...]
SEOUL, Nov. 22 (Korea Bizwire) — The convenience store industry is striving to play a greater role in public safety amid growing public interest in the response to emergency situations after the Itaewon disaster. CU recently signed a memorandum of understanding with security service provider S-1 Corp. to establish emergency medical equipment-related public services. Under [...]
SEOUL, Sept. 13 (Korea Bizwire) — Convenience stores, open even during the holidays, are seeing rising sales of pharmaceuticals and parcel delivery services. CU, South Korea’s top convenience store chain, saw sales of essential drugs jump by 16.5 percent in 2018 and 10.5 percent in 2019 during the four-day Chuseok fall harvest holiday. This year, [...]
SEOUL, Aug. 11 (Korea Bizwire) — South Korea’s convenience store chains have launched sales of gift sets for the upcoming Chuseok holiday from Sept. 9-12. Among such gift sets, a variety of rare and extraordinary items are drawing interest from customers. GS25 is rolling out luxury liquor gift sets, including DRC Romanee-Conti 2017 valued at [...]
SEOUL, Aug. 2 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it has decided to impose a combined fine of 24.4 billion won (US$18.6 million) on GS Retail Co., the operator of GS 25 convenience stores, for its unfair business practice. GS Retail received a total of 19.5 billion won from eight contractors in [...]
SEOUL, May 11 (Korea Bizwire) — A new disposable cup deposit system will enter effect for coffee shops, bakeries and fast food outlets across the country at the beginning of June. Nonetheless, controversy remains unabated. At present, many businesses subject to the new deposit program are concerned about how to prepare for the rollout. Thanks [...]
SEOUL, March 22 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it has decided to approve a deal by Korea Seven Co., the operator of 7-Eleven convenience stores, to buy its smaller rival Ministop Korea Co. In January, the country’s retail giant Lotte inked a deal to acquire a 100 percent stake in Ministop [...]
SEOUL, March. 11 (Korea Bizwire) — Whisky is replacing wine as a liquor popular among South Korea’s younger generation. GS25, the convenience store chain run by GS Retail Co., said that whisky sales jumped by 46.8 percent between 2019 and 2020, and 60.8 percent between 2020 and 2021. Between 2021 and February of this year, [...]
SEOUL, Jan. 7 (Korea Bizwire) — The rising popularity of wine is encouraging convenience stores to release new products in the new year, bolstering their marketing offensive. Emart24 sold 3.05 million bottles of wine last year, including a record-breaking 750,000 in December alone. The convenience store chain plans to open up to 4,000 stores specializing [...]
SEOUL, Dec. 17 (Korea Bizwire) — The Ministry of Education on Friday signed a deal with two convenience store and supermarket chain operators BGF Retail Co. and GS Retail Co. as part of a job training initiative for disabled students. Under terms of the deal, a total of 83 convenience stores, including CU outlets run by [...]