Myeongdong Archives | Be Korea-savvy
Myeongdong Home to Most Expensive Commercial Property in S. Korea

Myeongdong Home to Most Expensive Commercial Property in S. Korea

SEOUL, May 31 (Korea Bizwire) — Cosmetic chain Nature Republic’s flagship store in Myeongdong has been named the most expensive commercial property in South Korea for the 15th consecutive year. According to data released by the Ministry of Land, Infrastructure and Transport (MOLIT), the official government appraisal of the land currently housing the Nature Republic [...]

Department Stores Poised to Attract Male Customers

Department Stores Poised to Attract Male Customers

SEOUL, April 2 (Korea Bizwire) — South Korean department stores are ramping up efforts to attract male customers, whose growing numbers are changing the retail landscape. According to data from Shinsegae Department Store, male customers, which accounted for 28.1 percent in 2010, now represent just over 34 percent of the major department store’s customer base. Sales [...]

Myeongdong 8th Most Expensive Retail Zone in the World

Myeongdong 8th Most Expensive Retail Zone in the World

SEOUL, November 16 (Korea Bizwire) – A new report has revealed that Myeongdong is the 8th most expensive place for commercial rents in the world, following the likes of Fifth Avenue in New York and Causeway Bay in Hong Kong. Global property consulting firm Cushman & Wakefield named Myeongdong, one of the biggest shopping districts in [...]

Shinsegae Opens Concept Store Featuring Traditional Goods

Shinsegae Opens Concept Store Featuring Traditional Goods

SEOUL, Dec. 7 (Korea Bizwire) – Shinsegae Duty Free opened Wednesday “Han Soo”, an open space where visitors can experience and purchase Korean traditional handcrafted items, at Myeongdong’s Mesa Building in Seoul.  The 1,016-square-meter store displays products manufactured by dozens of artisans, including 15 government-certified craftsmen and women. Works span from simple pottery to furniture, [...]

Plans for “Korean Times Square” to be Finalized by November

Plans for “Korean Times Square” to be Finalized by November

SEOUL, Sept. 13 (Korea Bizwire) – The Ministry of Government Administration and Home Affairs announced Monday that it has narrowed down the candidate sites for the upcoming “Korean Times Square” – an outdoor billboard display zone that will foster a city neighborhood’s economic and cultural values.  Among the 11 sites that initially applied for review, [...]

Lotte Duty Free Expands Main Branch in Downtown Seoul

Lotte Duty Free Expands Main Branch in Downtown Seoul

SEOUL, June 29 (Korea Bizwire) – Lotte Duty Free, South Korea’s largest duty-free operator, said Wednesday it has expanded its main branch in downtown Seoul, as part of efforts to make up for a sales shortfall from its other outlet in downtown Seoul which closed upon its license expiration.  The main branch in Lotte Department [...]

Korea to Crack Down on Low-quality Tour Operators Catering to Chinese

Korea to Crack Down on Low-quality Tour Operators Catering to Chinese

SEOUL, June 7 (Korea Bizwire) – South Korea will tighten regulations on tour operators that lure Chinese travelers with cheap, low-quality packages to screen out substandard agencies and improve the tourism industry’s competitiveness, the government said Tuesday.  The Ministry of Culture, Sports and Tourism said it will form a task force with related organizations to [...]

Pharmaceutical Firms Expect Stronger Sales During China’s Labor Day Holiday

Pharmaceutical Firms Expect Stronger Sales During China’s Labor Day Holiday

SEOUL, Apr. 28 (Korea Bizwire) — South Korean pharmaceutical companies are strengthening their promotions to sell more of their mainstay products to incoming Chinese tourists during China’s Labor Day holiday, industry sources said Thursday. Local pharmaceutical firms such as Handok and Kyung Nam Pharm Co. have rolled up their sleeves to attract as many Chinese [...]