SEJONG, April 14 (Korea Bizwire) – South Korea’s antitrust watchdog said Wednesday that it has recommended global furniture giant IKEA revise itsterms regarding refunds for canceled deliveries. IKEA, which opened its first store in southern Seoul in 2014, is running a delivery service for South Korean customers who are familiar with free packaging and door-to-door delivery. The service costs [...]
SEOUL, Dec. 28 (Korea Bizwire) – The South Korean furniture industry is going through a major transition to survive tough competition from Swedish furniture giant IKEA, which is drawing design-savvy consumers with affordable products and showroom displays. IKEA’s highly anticipated first store in suburban Seoul has created much buzz in the home furnishing market, attracting over 6.7 million visitors and posting 308 [...]
SEOUL, Dec.16 (Korea Bizwire) – First year sales of global furniture giant IKEA in Korea have reached 210 billion won (including sales from December 2014), according to a recent report. This tops the average sales of all 345 IKEA stores around the world. There has been some criticism that the Korean store’s pricing is higher [...]
SEOUL, Sept. 15 (Korea Bizwire) – Research shows that Korean teenagers spend an average of an hour and half with their parents, while they wish they could spend more time with each other. Even the hour and half was often spent watching TV together. IKEA, a multinational furniture company from Sweden, conducted an online survey [...]
SEOUL, Aug. 19 (Korea Bizwire) — South Korean retailers and food manufacturers are expanding their ready-to-eat meal products to cater to the country’s rapidly growing single households who opt to eat in, partly to save time and money, market watchers said Wednesday. Retailers and food makers, in turn, are swiftly moving to increase their market [...]
SEOUL, June 22 (Korea Bizwire) — Prices of couches and wardrobes sold by IKEA Korea, the local unit of Swedish furniture giant IKEA, are 15-20 percent higher than those in other countries, a poll showed Monday. The survey by local consumer advocacy group Consumer Research showed that the price of 126 products sold in the [...]
SEOUL, March 27 (Korea Bizwire) – Before the opening of the first IKEA store in Korea last year, Korean furniture companies were worried about the threat posed by the Swedish behemoth. Many industry observers said the impact of IKEA in Korea would be felt across the industry. Without a doubt, IKEA has been big hit in [...]
SEOUL, March 20 (Korea Bizwire) – Prices at the recently opened IKEA store in Gwangmyeong, on the outskirts of Seoul, are among the most expensive in the OECD. The only country with higher average prices than Korea is IKEA’s home base of Sweden. The global furniture giant appears to have chosen a high-price policy in Korea, [...]
SEOUL, March 19 (Korea Bizwire) – South Korean retailers and furniture makers are turning to the homeware business, a nascent industry awakened by the local opening of Swedish furniture giant IKEA that promises big growth ahead as South Koreans begin to renovate and decorate their aging homes. Over the past year, a handful of homeware stores [...]
SEOUL, Feb. 13 (Korea Bizwire) – A not-so-funny thing has happened recently, in that the only IKEA store in Korea could not provide enough pencils for its customers. IKEA’s self-service checkout system requires the use of a pencil for customers to write down product numbers or the location of display stands. On February 9, a [...]