SEOUL, Aug. 6 (Korea Bizwire) — Finance Minister Choi Sang-mok on Tuesday unveiled policy measures for e-commerce vendors, as such vendors were hit by the recent payment delays of Qoo10-owned platforms TMON and WeMakePrice. Under the measures, the government will shorten a term of payment by e-commerce platforms to vendors, Choi told a meeting with [...]
SEOUL, Jul. 2 (Korea Bizwire) – In a bid to differentiate themselves from online shopping platforms, South Korean department stores are undergoing significant transformations, focusing on experiential retail, premium offerings, and attracting younger consumers. At the Lotte Department Store in Jamsil, Seoul, the 10th floor audio section now boasts three listening rooms. Global audio brands Geneva [...]
SEOUL, Jul. 1 (Korea Bizwire) – South Korean e-commerce platforms appear to be regaining strength after facing intense pressure from Chinese competitors like AliExpress and Temu last year. This resurgence comes as concerns over the safety of low-cost Chinese products have risen, and domestic platforms have launched aggressive promotional campaigns to win back customers. According to [...]
SEOUL, Jun. 29 (Korea Bizwire) – In a battle for dominance in the burgeoning cross-border e-commerce market, international platforms are intensifying their efforts to capture a slice of South Korea’s booming overseas sales sector, particularly in the realm of K-beauty products. Shopee, Southeast Asia’s largest e-commerce platform, announced plans to expand support for Korean products seeking [...]
SEOUL, Jun. 25 (Korea Bizwire) – In a surprising turn of events, South Korea has become the latest battleground for global e-commerce giants, with YouTube making an unprecedented move to launch its first shopping-dedicated store feature in the country. On June 23, industry sources revealed that YouTube, in collaboration with Cafe24, a KOSDAQ-listed e-commerce solutions company, [...]
SEOUL, Jun. 13 (Korea Bizwire) – In an unprecedented move, South Korea’s antitrust regulator, the Fair Trade Commission, has levied a record fine of 140 billion won against Coupang, the country’s largest e-commerce company, on allegations of unfairly favoring its own products over those of third-party sellers. The staggering penalty, the highest ever imposed [...]
SEOUL, Jun. 7 (Korea Bizwire) – Facing mounting losses due to the emergence of formidable “C-commerce” rivals like Alibaba’s AliExpress and Temu, South Korea’s major e-commerce players have embarked on aggressive cost-cutting measures. Industry experts predict that these efforts to bolster profitability, rather than pursue growth at any cost, will continue throughout the year as external [...]
SEOUL, May 7 (Korea Bizwire) – The relentless surge of Chinese e-commerce platforms like AliExpress, Temu, and Shein into the South Korean market, posing threats to domestic platforms, small businesses, and small manufacturers, appears to be losing momentum due to consumer dissatisfaction with shipping and returns, as well as repeated discoveries of hazardous substances including carcinogens [...]
SEOUL, Apr. 11 (Korea Bizwire) – Korean customers who have been indulging in the thrill of bargain hunting on Chinese e-commerce platforms like AliExpress and Temu are now reacting with shock and concern following reports of carcinogenic substances detected in products purchased from these sites. On April 10, the retail industry sources reported a surge in [...]
SEOUL, Apr. 11 (Korea Bizwire) – Chinese online shopping platforms, such as AliExpress and Temu, have experienced a remarkable surge in sales, with an increase of over 130% in just six months since their entry into the South Korean market. The data reveals that transactions under 30,000 won accounted for the majority of sales, at 78% [...]