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 [...]
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 [...]
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 [...]
SEOUL, Aug. 31 (Korea Bizwire) — Group purchasing, in which buyers gather in groups to purchase goods at a discounted price, is emerging as a new field of e-commerce. Recently, sellers have voluntarily been calling on buyers to join group purchasing plans. LF, the apparel affiliate of LG Group, unveiled its cosmetics brand Athe’s two new lip [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]