SEOUL, March 8 (Korea Bizwire) — The number of convenience stores in Seoul had marked a fourfold increase over the past 15 years, data showed Tuesday. According to the Seoul Metropolitan Government, the number of convenience stores located in the city reached 8,493 in 2021, up about 400 percent compared to 2,139 in 2006. The [...]
SEOUL, Feb. 16 (Korea Bizwire) — Convenience store owners are claiming that the translucent sheets affixed to prevent cigarette ads from being viewed from outside threaten workers’ safety, and are calling for the revision of relevant laws. The National Convenience Store Franchise Association issued a statement on Wednesday saying that convenience stores that operate 24 [...]
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, [...]