SEJONG, Dec. 2 (Korea Bizwire) – Online shopping in South Korea reached a fresh record high in October on a nationwide discount event, a government report showed Friday. Total online transactions reached a record 5.6 trillion won (US$4.8 billion) in October, up 17.3 percent from 4.8 trillion won a year earlier, according to the report [...]
SEOUL, Nov. 2 (Korea Bizwire) – South Korea’s online sales of goods abroad have more than doubled over the past year, official data showed Wednesday. The amount came to 550.2 billion won (US$480 million) in the third quarter of 2016, up 105.4 percent from a year earlier, according to the Statistics Korea. The sharp growth [...]
SEJONG, Sept. 1 (Korea Bizwire) – Online shopping sales in South Korea jumped 17.4 percent on-year to hit a record high in July on upbeat demand for leisure and tourism bookings and electronic devices, a government report showed Thursday. Total online transactions reached 5.56 trillion won (US$4.98 billion) in the seventh month of 2016, compared [...]
SEOUL, July 28 (Korea Bizwire) – Hyundai Department Store, one of the major department stores in South Korea, announced on July 28 that it will launch a virtual reality (VR) online store on its upscale online shopping mall – the Hyundai.com (www.thehyundai.com). The Hyundai’s new online VR store provides customers with the feeling of physically being [...]
SEJONG, July 11 (Korea Bizwire) – While the popularity of direct buying is taking a step back, the market is seeing some changes in the products being sought by consumers, as well as the countries they’re ordering from. According to the Korea Customs Service (KCS), 8.15 million direct purchases were made during the first half of [...]
SEOUL, June 27 (Korea Bizwire) – Brexit, the U.K’s decision to leave the European Union (EU), is quickly driving down the value of the British pound, and Korean shoppers are rushing to Britain’s online markets to take advantage of favorable exchange rates. Customers were quick to react to news of the ‘leave’ campaign’s victory, and started [...]
SEJONG, June 16 (Korea Bizwire) – Sales in the online shopping business in South Korea have expanded more than 16-fold over the past 15 years on the back of the rapid development of e-commerce transactions, government data showed Thursday. A total of 53.9 trillion won (US$46.1 billion) worth of purchases were made online last year, [...]
SEOUL, June 15 (Korea Bizwire) – Fast Retailing Co., a public Japanese retail holding company that operates UNIQLO, plans to establish a “next-day delivery service” where products ordered through its online store are delivered the next day. Industry experts say that the Japanese company is taking countermeasures against Amazon, which provides same-day or next-day delivery services, [...]
SEOUL, May 12 (Korea Bizwire) – Coupang, a Korean e-commerce website, is expanding its platform to an open market, offering direct sales and purchases between consumers and suppliers. Coupang is a social commerce platform that previously focused on curated commerce in the form of special ‘deals’. It’s an attempt to make up for its weakness in product [...]
SEOUL, May 6 (Korea Bizwire) – According to the report ‘B2C (Between Corporation and Consumer) Index 2016’ published on May 5 by the United Nations Conference on Trade and Development (UNCTAD), Luxembourg ranked first in the world after scoring a total of 89.7 points calculated according to the internet usage rate of its population, credit [...]