SEJONG, March 31 (Korea Bizwire) – South Korea’s online sales to foreign customers nearly tripled last year from a year earlier on the back of rising demand for domestically produced cosmetics and clothing by Chinese consumers, a report showed Thursday. South Korean retailers sold an estimated US$130 million worth of goods to overseas customers through [...]
CARPINTERIA, Calif., Feb. 5 (Korea Bizwire) — Worldwide purchases of goods and services generated by credit, debit, and prepaid cards is projected to reach $48.670 trillion by 2024 according to the annual report Global Card Spending in the current issue of The Nilson Report, the top trade journal covering the card and mobile payment industries. [...]
SEOUL, Aug. 27 (Korea Bizwire) – Coupang (www.coupang.com), the online shopping site, will start a service next month called ‘Market Place’, which connects sellers with consumers. From a consumer’s point of view, nothing much will change. Up until now, Coupang provided a ‘retail service’ or ‘curation service’, in which they select and buy the items [...]
SEOUL, July 24 (Korea Bizwire) – Coupang, an online shopping site, was tops in terms of mobile app users among major e-commerce companies for the past three years. According to market researcher Neilsen Koreanclick, Coupang maintained its top position in the Korean e-commerce industry, including open markets, home shopping and composite online shopping malls in terms [...]
SEOUL, July 23 (Korea Bizwire) – For consumers who use new types of e-commerce such as cross-border shopping and social commerce, Korea’s fair trade watchdog will implement more safeguards against unfair practices such as exaggerated discount rates. The Fair Trade Commission announced on July 22 that it would revise the Guidelines for Consumer Protection in Electronic Commerce [...]
SEOUL, July 23 (Korea Bizwire) - The e-commerce market is in a state of tension as Jet (jet.com) challenges the largest Internet commercial transaction company, Amazon. Jet was launched on July 20. They stock around 10,000,000 items, which is less than Amazon, but the packing units are much bigger and prices are generally cheaper than [...]
BEIJING, May 21 (Korea Bizwire) — South Korea was ranked as the second-most popular destination for Chinese Internet users buying high-quality goods via cross-border e-commerce platforms, a survey showed Thursday. The survey, conducted by a Chinese research institute named i-research and commissioned by the Chinese unit of South Korea’s Korea Trade and Investment Promotion Agency [...]
SEOUL, April 26 (Korea Bizwire) — SK Planet, South Korea’s leading e-commerce platform operator, said Sunday it has launched its flagship online shopping site in Malaysia as part of its overseas expansion. 11street, the online open-market site run by SK Planet, began its service there Friday, under the Internet domain www.11street.my and via its mobile [...]
FORT LAUDERDALE, Fla., Mar. 4 (Korea Bizwire) — DutyFreeZone.com is not a traditional E-commerce company. It operates an “open marketplace” that connects worldwide buyers with sellers. It has created an E-Commerce platform to compete against competitors, such as B2B web sites in Asia, which helps businesses of all sizes worldwide reach consumers and importers. It [...]
SEJONG, Feb. 15 (Korea Bizwire) – Goods bought from foreign e-commerce shops surged over the last five years with the increase being fueled by demand for such products as coffee, handbags and sneakers, a government report showed Sunday. According to Korea Customs Service (KCS), imports from on-line shops excluding printed materials, compact discs and tissue [...]