SEOUL, Jan. 6 (Korea Bizwire) – An online posting claiming that a mother and her daughter verbally abused three parking attendants and made them kneel is brewing controversy in Korean society. The incident took place at Hyundai Department Store’s underground parking lot in Jungdong, Bucheon. On January 3, the story was posted online by an individual [...]
SEOUL, Sept. 1 (Korea Bizwire) – As the wristwatches are gaining popularity among Koreans, Korea’s imports of the luxury timepieces established a monthly high record during July. According to the export and import statistics from the Korea Customs Service, the volume of imported luxury watches reached US$21.6 million, a monthly high since January 2000 when [...]
SEOUL, Aug. 12 (Korea Bizwire) — Hyundai Department Store won a bid to acquire WiniaMando Inc., the company better known as its kimchi refrigerator brand “Dimchae.” With the acquisition of the kimchi fridge manufacturer, the department store operator could add electronics manufacturing in its business portfolio. On August 10, the department store announced that it signed [...]
SEOUL, July 31 (Korea Bizwire) – A study said the average tenure of top-30 group CEOs is only 2.6 years. According to CEO Score, a website tracking corporate performances, based on a survey on 576 former professional CEOs except those related with owner families who were hired since January 1, 2000, the average lifespan of these corporate [...]
![[Kobiz Feature] Aroma Candle, a New Popular Item for New Age Consumers](http://koreabizwire.com/wp/wp-content/uploads/2014/04/16366953_9e24a602b5_z.jpg "[Kobiz Feature] Aroma Candle, a New Popular Item for New Age Consumers")
SEOUL, Korea, April 11 (Korea Bizwire) – There may be several different ways for anyone to recall past memories. Some may rely on browsing through old photo albums, personal journals, or letters. But some others are reminded of long forgotten memories from a whiff of smell. It is a well-established fact among scientists that olfactory memory is [...]
SEOUL, Korea, April 2 (Korea Bizwire) – A department store in Seoul’s Gangnam famous for carrying luxury import items has offered since early this year its exclusive platinum members a sneak preview of newly arrived goods. For example, it invites 10 VIP members every month and gives an individual viewing of imported wristwatches not yet [...]
SEOUL, Korea, Mar 13 (Korea Bizwire) – As consumers tighten their purse string due to the slow economy in Korea, department stores are also experiencing reduced revenues. However, it’s a different world in the basement floors of the mega stores. There is “refreshment fever” in the grocery sections of the department stores as several [...]
SEOUL, Korea, Mar 4 (Korea Bizwire) – Lee Sul-gi, housewife in her late 30s, recently bought a clothing item at a department store. Three days later, she went back to the same department store to buy something else and found out the item she had bought was sold at a 30 percent discount, which infuriated [...]
![[China Report] Chinese Tourists Becoming Big Spenders in Korea’s Dept Stores](http://koreabizwire.com/wp/wp-content/uploads/2014/02/2014021002708_1.jpg "[China Report] Chinese Tourists Becoming Big Spenders in Korea’s Dept Stores")
SEOUL, Korea, Feb. 12 (Korea Bizwire) – The spending power of the “youkes” (Chinese terms for tourists) was indeed impressive. During the Spring Festival (Chinese New Year) season between February 1 and 9, the number of Chinese visitors in department stores in Korea was almost three times more than the usual time, with the sales volume [...]