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U.S. Polo Assn.’s E-Commerce Growth Puts Brand on the 2021 Digital Commerce 360′s Prestigious Top 500 Rankings

WEST PALM BEACH, Fla., Oct. 14 (Korea Bizwire) – USPA Global Licensing Inc. (USPAGL) today announced that U.S. Polo Assn., the official brand of the United States Polo Association (USPA), has been ranked in the 2021 Digital Commerce 360‘s Top 500, a globally recognized ranking of the leading 500 online retailers headquartered in North America. U.S. Polo Assn. experienced a surge in [...]

Yanolja to Acquire 70 pct Stake in Interpark’s E-commerce Businesses

SEOUL, Oct. 14 (Korea Bizwire) — Yanolja Co., a leading South Korean travel platform operator, said Thursday that it signed an agreement to buy a 70 percent stake in e-commerce businesses of Interpark Corp. for 294 billion won (US$248 million). Yanolja said its move to acquire Interpark’s travel, performing arts, shopping and book businesses is [...]

Online Shopping Hits Record High in May amid Contactless Trend

SEOUL, July 6 (Korea Bizwire) — Online shopping in South Korea hit a record high in May as more people used e-commerce shopping platforms amid the pandemic-induced contactless trend, data showed Tuesday. The value of online shopping transactions stood at 16.1 trillion won (US$14 billion) in May, up 26 percent from a year earlier, according [...]

E-commerce Industry Pivots to OTT Platforms

SEOUL, June 8 (Korea Bizwire) — The e-commerce industry is scrambling to bolster over-the-top (OTT) platforms or create web video series to attract customers. South Korean e-commerce giant Coupang Inc. has recently been focusing on securing exclusive video content for new streaming service Coupang Play for its Wow Membership subscribers. In addition to sports, the [...]

Online Shopping at 2nd-highest Point in March amid Contactless Trend

SEOUL, May 6 (Korea Bizwire) — Online shopping in South Korea continued to soar in March as more people bought goods via e-commerce platforms amid a non-contact consumption trend caused by the pandemic, data showed Thursday. The value of online shopping transactions stood at 15.9 trillion won (US$14.1 billion) in March, up 26.4 percent from [...]

Online Gift Market Keeps Growing at Healthy Rate

SEOUL, May 6 (Korea Bizwire) — As South Korea’s online gift market is growing rapidly, the nation’s e-commerce businesses are strengthening related services. ‘Online gift’ services allow users to send gifts simply by using a phone number rather than a postal address. At present, there is are no accurate statistics about the size of the [...]

Regulator Seeks to Revise E-commerce Trade Law amid Non-contact Trend

SEOUL, March 7 (Korea Bizwire) — South Korea’s corporate watchdog said Sunday it plans to revise a law governing e-commerce transactions as an increase in online platform-based trade raised the need to better protect consumers amid a non-contact trend. The Korea Fair Trade Commission (KTFC) said it will seek to revise the Act on Consumer [...]

Amazon Joins Hands with 11st to Enter South Korean Market

SEOUL, Nov. 17 (Korea Bizwire) — A recent business deal between the U.S. e-commerce giant Amazon.com, Inc. and a local e-commerce platform 11Street Co. is likely to make waves in the domestic online shopping industry. SK Telecom Co., South Korea’s largest mobile carrier and the parent company of 11st, officially announced its plan to join hands [...]

SK Telecom Pursues E-commerce Biz with Amazon in S. Korea

SEOUL, Nov. 16 (Korea Bizwire) — SK Telecom Co., South Korea’s largest mobile carrier, said Monday it is partnering with Amazon.com, Inc. to allow South Koreans to have easier access to products on the U.S. e-commerce giant’s platform. The carrier said users of its e-commerce unit 11Street Co. can directly purchase the U.S. company’s products [...]