SEOUL, April 12 (Korea Bizwire) – Shinsegae Department Store President Jang Jai-yeong was paid the most among South Korea’s retail industry CEOs last year, industry data showed Thursday. Jang received 1.59 billion won (US$1.49 million), with the total breaking down to 929 million won in salary and 669 million won in bonuses. Lee Gap-su, president [...]
SEOUL, Feb. 23 (Korea Bizwire) – Lotte Department Store has announced plans to hire hundreds of local workers at a new shopping complex that will open in Gunsan in April, after residents were hit hard by the news that city’s GM Korea plant would be shutting down. Up to 70 percent of the job openings at [...]
SEOUL, Dec. 8 (Korea Bizwire) — The first batch of 50,000 pairs of Pyeongchang Olympics-inspired trainers sold out only a week after pre-orders began. The special trainers dubbed ‘PyeongChang Sneakers’ have proved a great success on the back of public support for the much anticipated the 2018 PyeongChang Winter Olympics, following in the footsteps of [...]
SEOUL, Nov. 23 (Korea Bizwire) – The frenzy over the PyeongChang 2018 Winter Olympics official goose down jacket has hit fever pitch, with the outerwear selling out once again in the blink of an eye. The first release of the “Pyeongchang Long Padding” had sold out at most stores by November 16, prompting retailer Lotte [...]
SEOUL, Oct. 9 (Korea Bizwire) — South Korea’s large retailers posted solid sales ahead and during this year’s Chuseok holiday helped by all out marketing efforts to attract customers, industry sources said Monday. Data provided by local retailers showed double digit growth by some companies as the country celebrated the longest holiday in decades. Chuseok, [...]
SEOUL, Sept. 14 (Korea Bizwire) – After a serious egg contamination scandal that shook the confidence of South Korea consumers, gift sets of free-range eggs from animal-friendly farms have appeared at department stores, marking the first time eggs are being considered as a Chuseok gift. Lotte Department Store, one of the country’s major department store chains, [...]
SEOUL, Sept. 11 (Korea Bizwire) – South Korean retail businesses are on a collision course with the government following a series of regulations recently imposed on an already struggling industry amid a long-term national economic slump. Hit by a lack of consumer confidence and sluggish economic growth, the retail industry is decrying new regulations put in [...]
SEOUL, Aug. 13 (Korea Bizwire) — Lotte Department Store, the country’s leading retailer, said Sunday it will open prayer rooms for Muslims at its store in Seoul this week as it steps up efforts to attract more tourists from the Middle East and Southeast Asian countries. The department store operator said they will open a [...]
SEJONG, May 4 (Korea Bizwire) – South Korea’s corporate watchdog said Wednesday that it has slapped a combined 2.2 billion won (US$1.94 million) in fines on six local department stores for abusing their power to control their subcontractors. The companies — Shinsegae Department Store, Lotte Department Store, Hyundai Department Store, Hanwha Galleria, NC Department Store and AK Plaza — were accused of refusing to give back written contracts [...]
SEOUL, April 26 (Korea Bizwire) – Lotte Department Store’s Myeongdong location became South Korea’s first retail outlet on Monday to introduce robot shopping assistant “el Bot.” The 1.2-meter-tall machine is capable of providing various information to shoppers, according to officials. For example, it can recommend and give directions to restaurants inside the department store, or [...]