SEOUL, March 22 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it has decided to approve a deal by Korea Seven Co., the operator of 7-Eleven convenience stores, to buy its smaller rival Ministop Korea Co. In January, the country’s retail giant Lotte inked a deal to acquire a 100 percent stake in Ministop [...]
SEOUL, Jan. 21 (Korea Bizwire) — Lotte Corp., the holding company of South Korean retail giant Lotte Group, said Friday it has acquired an entire stake of Ministop Korea Co. for 313.37 billion won (US$263 million). Under the deal, Lotte will take over 2,600 Ministop convenience store outlets across the country and 12 logistics centers [...]
SEOUL, March 12 (Korea Bizwire) — Changes are occurring rapidly in the service industry as the minimum wage hike implemented this year has spurred on efforts to scale back labor costs. While convenience store chains are expeditiously implementing automated stores, dining establishments are actively experimenting with expanded self-service and self-checkout policies. Per industry insiders, Emart [...]
SEOUL, Aug. 9 (Korea Bizwire) — Despite stiff competition and declining profits, more and more convenience stores in South Korea are opening, with the number of convenience stores per head surpassing that of Japan, a country thought to be the Asian capital of the industry. According to industry sources on Tuesday, there were an estimated 34,376 [...]
SEOUL, April 18 (Korea Bizwire) – As the weather warms up in South Korea, major convenience store chains are releasing new spring and summer products ranging from iced tea and caffe lattes to plastic cups filled with ice cubes to drink a cold beverage out of. The market for ice products in the convenience store [...]
Singapore, July 26, 2013 (Korea Bizwire) – WatchGuard ( www.watchguard.com ), a leading provider of manageable business security solutions, has announced that Korea Ministop ( www.ministop.co.kr ) is using WatchGuard’s XTM solution to implement a secure, integrated network environment that connects HQ, distribution centers, and approximately 2,000 stores nationwide to maximize customer satisfaction by improving the [...]