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 [...]
SEOUL, Sept. 23 (Korea Bizwire) — The furniture industry is stepping up its online business. Through online markets, furniture manufacturers are able to introduce a variety of products without the limitations of space, and are in turn benefiting from lower operating costs. A notable change was made by Swedish furniture giant IKEA, which entered the [...]
SEJONG, Sept. 17 (Korea Bizwire) — South Koreans’ direct purchases from foreign countries rose 20 percent in the first six months of 2019 from a year earlier as more consumers opted to buy quality goods at cheap prices, customs data showed Tuesday. South Korean shoppers bought a total of US$1.58 billion worth of foreign goods [...]
SEOUL, Jul. 26 (Korea Bizwire) — Coupang Inc., a major e-commerce company, has been dealt a series of blows over the past two months, including controversy over whether it is a Japanese company and problems with customer orders. Critics point out that while Coupang grew at a rapid pace over the years, it was not [...]
SEOUL, Jun. 19 (Korea Bizwire) — Online shopping users value how fast a product is delivered when they choose a shopping mall, according to a recent survey. Market analysis agency DMC Media analyzed the Internet purchasing behavior of 1,000 men and women in their 20s to 50s who had Internet shopping experience for six months [...]
SEOUL, Jun. 18 (Korea Bizwire) — It is hard for consumers to live without online and mobile shopping, and for retailers already struggling with a slump in store traffic and the subsequent fall in direct to consumer sales, living up to the trend may be pronounced in the face of cutthroat competition with a slew [...]
SEOUL, Apr. 22 (Korea Bizwire) — E-commerce is thriving in South Korea on the back of fast delivery and competitive pricing, but mounting losses by major operators are raising questions whether their business models are sustainable in the face of increasingly toughening competition, industry insiders said Monday. The e-commerce industry has seen explosive growth in [...]
SEOUL, Dec. 17 (Korea Bizwire) – Tough economic times are changing the culture of South Korean businesses, where calendars were typically offered for free to employees at the beginning of a new year. Now, as employers are distributing fewer free calendars, more people are ordering calendars online. Gmarket, South Korea’s biggest online shopping portal, said [...]
SEOUL, Dec. 14 (Korea Bizwire) — Some brand-name shoes were more expensive when ordered abroad compared to local retailers, while most South Koreans still think it’s cheaper to buy foreign products overseas than in South Korea. The Korea Consumer Agency (KCA) said on December 13 that 11 of 18 foreign brand shoes were cheaper in [...]