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 [...]
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 [...]
SEOUL, March 13 (Korea Bizwire) — The Seoul Metropolitan Government said on March 12 that it is preparing to build prayer rooms for Muslims in a couple of the city’s major tourist areas, with the rooms expected to be available for use as early as this summer. The reason South Korea’s largest city is rolling [...]
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 [...]
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, [...]
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, [...]
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 [...]
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 [...]
SEOUL, May 23 (Korea Bizwire) – Nearly half of foreigners revisited South Korea last year, with the Japanese becoming the most frequent travelers to the nation, a survey by the Ministry of Culture, Sports and Tourism showed Monday. According to the 2015 survey conducted at major gateways on 12,900 visitors to the nation, 46.1 percent [...]
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 [...]