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 [...]
SEOUL, Nov. 23 (Korea Bizwire) — Korean craft beers selling at convenience stores are enjoying a surge in popularity. Three years ago, the convenience store beer market was dominated by imported beers thanks to a hugely popular promotion in which four cans were selling for 10,000 won (US$8.42). Today, the situation has changed with each [...]
SEOUL, Sept. 30 (Korea Bizwire) — An increasing number of consumers are buying pet goods at convenience stores as they are closer and more accessible than exclusive pet shops. Major convenience store chain GS25 saw pet goods sales rise by 44.3 percent between January 1 and September 26 compared to the same period last year. [...]
SEOUL, Sept. 9 (Korea Bizwire) — Convenience store chains are competing to entice customers to spend their emergency relief funds, which the government started distributing on Monday. Stores began to come up with various marketing strategies that allow customers to purchase various electronic devices such as wireless earphones or smartwatches with the relief funds. GS25 [...]