SEOUL, May 18 (Korea Bizwire) — Naver Corp., the operator of the country’s No. 1 internet portal, is moving fast to grab a share in the fast-growing online shopping segment with two different services that may eventually transform the portal operator into the so-called search-based marketplace. The new services also signal a seismic change in [...]
SEOUL, May 6 (Korea Bizwire) — Online shopping surged nearly 12 percent from a year earlier in March, data showed Wednesday, an apparent outcome of the new coronavirus outbreak that forced people to stay home. The value of online transactions came to about 12.58 trillion won (US$10.3 billion) in the month, up 11.8 percent from [...]
SEOUL, April 28 (Korea Bizwire) — Lotte Shopping Co. — the operator of South Korea’s biggest department store and hypermarket chains — on Tuesday launched an ambitious online shopping website to better compete with major e-commerce operators, such as Coupang. Lotte ON integrates the websites of Lotte’s eight affiliates, including Lotte Department Store, the electronics [...]
SEOUL, April 27 (Korea Bizwire) — TMON Inc., one of South Korea’s major e-commerce operators, said Monday it is pushing for a listing on the country’s stock market next year. The decision for an initial public offering (IPO) apparently came as the company posted its first monthly operating profit in nearly 10 years. In March, [...]
SEOUL, March 12 (Korea Bizwire) — U.S. online shopping giant eBay is looking to unload its South Korean unit. The e-commerce industry believes that there are a few large retail companies that could potentially buy eBay Korea in the South Korean market due to its large size. According to industry sources, the deal as a [...]
SEOUL, Feb. 18 (Korea Bizwire) — The e-commerce industry, which has long emphasized “fast delivery,” is now expanding its services, with competition now turning to offering “easy returns”. South Korea’s major shopping portal 11st said Monday that it has introduced a service to offset return costs caused by customers exchanging products, in which an insurance [...]
SEOUL, Dec. 6 (Korea Bizwire) — The most popular keywords in the South Korean online shopping market this year are “one day” and “one person.” Interpark, an online shopping site, said in a recent report that marketing kicked off in Korea’s e-commerce industry this year using so-called “one-day” promotions. One-day promotions refer to sales events [...]
SEOUL, Nov. 1 (Korea Bizwire) — South Korea plans to follow the likes of Black Friday in the United States and Singles’ Day in China to come up with its own shopping festival in November. Fierce competition is expected among e-commerce companies this year as well. As recently as a couple years ago, November was [...]
SEOUL, Oct. 24 (Korea Bizwire) – Competition between domestic and overseas online retail companies is unfair, and industry support systems need to be overhauled to preempt the global e-commerce market, according to a recent study. According to a report commissioned by the Korea Economic Research Institute to Prof. Jung Yeon-sung of Dankook University, obstacles to the development [...]
AMSTERDAM, NETHERLANDS, Oct. 10 (Korea Bizwire) - Ingenico Group (Euronext: FR0000125346 – ING), the global leader in seamless payment, is transforming how international ecommerce companies operate in China. By introducing a suite of payment methods that fully caters to the preferences of local consumers, Ingenico will enable online businesses to gain better access to one of the [...]