SEOUL, June 21 (Korea Bizwire) — In South Korea’s e-commerce market, a two-way race is currently underway between Coupang Inc. and Naver Corp. According to a survey conducted by local pollster Open Survey, which involved 2,500 male and female consumers aged between 20 and 59, Coupang was ranked as the most frequently used online shopping [...]
SEOUL, May 16 (Korea Bizwire) — South Korean cosmetics and household goods maker LG Household & Health Care Ltd. and food manufacturer CJ Cheiljedang Corp. have formed new partnerships with other online shopping malls, following their decision to withdraw their products from the e-commerce giant Coupang Inc.’s platform due to pricing conflicts. Gmarket said Monday [...]
SEOUL, April 24 (Korea Bizwire) — The e-commerce industry in South Korea is actively introducing measures to prevent the sale of fake products to improve consumer trust. Lotte On, an e-commerce platform of retail giant Lotte Group, has been using an artificial intelligence (AI) 24-hour monitoring system since January to detect any suspected counterfeit products. [...]
SEOUL, Aug. 25 (Korea Bizwire) — Singapore-based e-commerce firm Qoo10 plans to acquire TMON Inc. through a stock swap deal, industry sources said Thursday. TMON’s two major shareholders — Anchor Equity Partners and Kohlberg Kravis Roberts & Co. — have agreed on the stock swap deal with Qoo10, according to the sources. Under the deal, [...]
SAN MATEO, Calif., April 26 (Korea Bizwire) – Freshworks Inc. (NASDAQ: FRSH), a software company empowering the people who power business, today announced Freshworks CRM for e-commerce is now available in the Shopify App Store. The solution integrates directly with Shopify to provide its millions of merchants with a unified CRM that enables live conversational support, marketing and sales [...]
SAN MATEO, Calif., April 26 (Korea Bizwire) – Freshworks Inc. (NASDAQ: FRSH), a software company empowering the people who power business, today launched Freshworks CRM for e-commerce, a customer relationship management (CRM) solution with a unified customer record across conversational marketing, sales and customer support. Built for direct-to-consumer brands and digital retailers, the CRM solution empowers employees to [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korean e-commerce companies are introducing a variety of new services to get the upper hand in the fast-growing online luxury goods market. SSG.com, the online mall arm of retail giant Shinsegae Group, announced a plan to introduce a new delivery service for luxury goods by the first quarter [...]
SEOUL, Jan. 20 (Korea Bizwire) — As the dominance of the top three players — Naver Corp., Coupang Inc. and SSG.com — is solidifying in the South Korean e-commerce market, latecomers are adopting drastic differentiation and transformation strategies. Wemakeprice Inc., a local open market operator, added a special button that is connected to SSG.com to [...]
SEOUL, Dec. 30 (Korea Bizwire) — South Korea’s imports via e-commerce reached a new all-time high in 2021 as more people purchased foreign goods online, government data showed Thursday. The country’s e-commerce imports stood at US$4.15 billion in the first 11 months of this year, up 25.7 percent from a year earlier, according to the [...]
SEOUL, Nov. 29 (Korea Bizwire) — Competition is heating up among South Korean e-commerce operators to get the upper hand in the market. Regardless of losses, they are making aggressive investments while focusing on increasing their market share. Investment has primarily focused on logistics centers and marketing. E-commerce giant Coupang Inc., which recently raised funds [...]