SEOUL, March 17 (Korea Bizwire) — Swedish furniture giant IKEA said Monday it will open its first outlet in Seoul and fifth in South Korea next month amid efforts to boost its sales in Asia’s fourth-largest economy. IKEA advanced to South Korea with its first outlet in Gwangmyeong, just south of Seoul, in 2014, and [...]
SEOUL, Oct. 16 (Korea Bizwire) — The Seoul city government will invest 172.3 billion won (US$126.4) over the next five years in an ambitious design industry development project aimed at nurturing Korean versions of the global furniture giant IKEA, officials said Wednesday. The five-year plan aims to strengthen the design industry in the capital and [...]
SEOUL, Sept. 23 (Korea Bizwire) – Samsung Electronics has announced a strategic partnership with IKEA to integrate the Swedish furniture giant’s smart home devices into Samsung’s SmartThings ecosystem, marking a significant step towards a more unified smart home experience. According to Samsung’s newsroom on September 22, this collaboration will enable users to control IKEA’s smart devices, [...]
SEOUL, Jun. 20 (Korea Bizwire) — Swedish furniture giant IKEA said Thursday it has expanded price cuts on its products in South Korea to provide more products at lower prices. IKEA has cut the prices of 330 products by 12 percent starting Thursday after lowering the prices of 360 products in April and 300 products [...]
SEOUL, Mar. 19 (Korea Bizwire) — Swedish furniture giant IKEA will invest 300 million euros (US$327 million) in South Korea over the next three years to gain a bigger share in Asia’s fourth-biggest economy, the company’s retail manager has said. IKEA, which will celebrate 10 years in business here in December, currently operates four stores [...]
SEOUL, Dec. 15 (Korea Bizwire) – IKEA Korea, the South Korean branch of the world’s largest furniture brand, has faced a continued downturn in its performance, reversing the growth observed last year. After experiencing a sales decline for the first time since entering the Korean market, IKEA Korea also posted its first fiscal-year loss this year. [...]
SEOUL, June 6 (Korea Bizwire) — Hyundai Motor Co. and IKEA Korea announced Monday their joint space marketing exhibition, “Green For-rest,” which will run until Sunday. The exhibition is taking place in the outdoor garden of IKEA Korea’s flagship store in Gwangmyeong, southwest of Seoul, and features eco-friendly Hyundai vehicles alongside IKEA’s home furnishing ideas. [...]
GWANGMYEONG, Sept. 14 (Korea Bizwire) — IKEA Korea said Wednesday its sales fell 10 percent in this fiscal year in the first decline after entering South Korea in 2014 as more customers held back spending on home furnishing goods amid eased virus restrictions. The South Korean arm of the Swedish furniture maker said it logged [...]
SEOUL, Oct. 6 (Korea Bizwire) — Major oil refiner GS Caltex Corp. said Tuesday that it will join hands with global furniture giant Ikea’s Korean unit to begin a pick-up service at one of the company’s gas stations in Seoul’s Gangnam district. If an Ikea customer selects a nearby GS Caltex gas station to pick [...]
SEOUL, Sept. 15 (Korea Bizwire) — South Korean furniture industry is riding high on surging demand for desks, chairs and sofas during a pandemic that has kept millions of families largely stuck at home for nearly a year. But Global furniture giant IKEA’s South Korean unit is suffering stalled growth. IKEA Korea’s revenue for fiscal [...]