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S. Korean Retailers Rev Up Efforts to Expand Presence in Middle East

S. Korean Retailers Rev Up Efforts to Expand Presence in Middle East

SEOUL, Nov. 24 (Korea Bizwire) – South Korean companies are pushing to expand their presence in the Middle Eastern market after suffering backlash from a diplomatic row between Seoul and Beijing over a U.S. missile defense system here, industry watchers said Friday. Earlier in the day, the Korea Federation of Small and Medium-sized Enterprises (SMEs) [...]

Convenience Stores Decry Credit Card Fees on Cigarettes, Plastic Bags

Convenience Stores Decry Credit Card Fees on Cigarettes, Plastic Bags

SEOUL, Sept. 14 (Korea Bizwire) – A collective of convenience store owners will file a class action lawsuit against the government to demand the repayment of five years’ worth of credit card fees on cigarettes and plastic bag sales. The collective’s leader, Kye Sang Hyuk, shared with media outlets on September 14 that preliminary discussions [...]

Pesticide Eggs: Wary Retailers Ban Sale of Belgian Products

Pesticide Eggs: Wary Retailers Ban Sale of Belgian Products

SEOUL, Aug. 11 (Korea Bizwire) — The European Union’s recent acknowledgement that large-scale shipments of eggs from Belgium and the Netherlands may have been contaminated by a pesticide has stores and markets rethinking the sales value of Belgian waffles. The pesticide, Fipronil, is believed to be hazardous to humans. So far, Germany, England, Sweden, Switzerland [...]

Number of Convenience Stores in Korea Reaches 34,000, Despite Stiff Competition

Number of Convenience Stores in Korea Reaches 34,000, Despite Stiff Competition

SEOUL, Aug. 9 (Korea Bizwire) — Despite stiff competition and declining profits, more and more convenience stores in South Korea are opening, with the number of convenience stores per head surpassing that of Japan, a country thought to be the Asian capital of the industry. According to industry sources on Tuesday, there were an estimated 34,376 [...]

S. Korean Convenience Store Chain Taps Iran

S. Korean Convenience Store Chain Taps Iran

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 [...]

Convenience Store Frozen Food Sales Rebound

Convenience Store Frozen Food Sales Rebound

SEOUL, Jul. 7 (Korea Bizwire) — As the number of single-person households continues to grow in South Korea, sales growth of frozen food at major convenience stores has significantly increased over the past six months, compared to average sales from 2012 to 2016. Among the frozen food items, frozen pizza was most popular, with sales [...]

Convenience Store Giant CU to Adopt Emergency Safety Guard Barriers

Convenience Store Giant CU to Adopt Emergency Safety Guard Barriers

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 [...]