SEOUL, Dec. 14 (Korea Bizwire) – Customers who spend big at the country’s major department stores jumped this year, industry data showed Wednesday, despite a prolonged economic slump here. The number of wealthy customers at the four stores — Lotte Department Store, Hyundai Department Store, Shinsegae Department Store, and Galleria Department Store — jumped by [...]
SEOUL, Dec. 5 (Korea Bizwire) – South Korea’s leading department stores saw their sales of high-priced padded jackets and other premium foreign clothing brands jump in November despite a drop in overall consumption, industry data showed Monday. Industry leader Lotte Department Store said its sales of imported premium bubble jackets spiked 45 percent last month [...]
SEOUL, Nov. 25 (Korea Bizwire) – The total number of department stores operating across the country came to 100 last year, industry watchers said Friday, as more leading players are aggressively expanding and diversifying their outlets. A total of 100 department stores were operating as of the end of 2015, with the number to increase [...]
SEOUL, Nov. 22 (Korea Bizwire) – Sales of premium electronic products and foreign luxury brands outperformed the overall consumption trend in South Korea as more affluent consumers preferred differentiated products, industry officials said Tuesday. Household spending was sluggish in Asia’s fourth-largest economy, but demand for premium products and luxury goods remained strong this year. To [...]
SEOUL, Oct. 10 (Korea Bizwire) – Sales at major South Korean department stores increased during this fall’s nationwide shopping festival compared with a similar event last year as more retailers and manufacturers offered wider options for customers, industry officials said Monday. The “Korea Sale Festa” is the government-led sales event held from Sept. 29 [...]
SEOUL, Sept. 21 (Korea Bizwire) – Hyundai Department Store Co. said Wednesday it will open Seoul’s largest outlet in a new skyscraper to be built in the financial district of Yeouido by 2020. Hyundai Department Store said it has been selected as a preferred bidder to build its latest shopping facility in the new skyscraper [...]
HANAM, South Korea, Sept. 8 (Korea Bizwire) – Shinsegae Group is set to open South Korea’s largest shopping theme park in Hanam, southeast of Seoul, on Friday to offer a wide variety options for shopping, leisure and culinary experiences. “Starfield Hanam” is a three-story building with four underground floors, covering an area spanning 460,000 square [...]
SEOUL, Aug. 17 (Korea Bizwire) – Department store restaurants have long been a lucrative business. Accommodating hundreds of weary shoppers every day, they have sometimes been referred to as a ‘goose that lays a golden egg’. However, opening such a restaurant had been a near-impossible task without deep connections to the store’s higher-ups, until recently. [...]
SEOUL, Aug. 8 (Korea Bizwire) – South Korea’s controversial anti-graft law governing free meals and gifts is expected to have a negative impact on department stores, while coming as a boon to discounters, convenience stores and food makers, sources said Monday. Slated to go into effect on Sept. 28, the Kim Young-ran anti-graft law named [...]
SEJONG, July 28 (Korea Bizwire) – South Korea’s major department stores and discount chains saw their sales rise in June from a year earlier due to an increase in holidays, government data showed Thursday. The combined sales of three department stores — Hyundai, Lotte and Shinsegae — increased 11.8 percent on-year last month, while those [...]