SEOUL, Nov. 11 (Korea Bizwire) — The home appliances industry showed poor performance in the third quarter this year due to a drop in demand. The rental market, which had been seeing exponential growth, has also taken a hit. Coway Co. reported 968 billion won in sales (US$733 million) and 165 billion won in operating [...]
SEOUL, Jan. 7 (Korea Bizwire) — Convenience store chain CU has teamed up with rental service startup Aroundable to launch the “Pick and Pick” rent service at five stores. Users will be able to rent about 300 items in 11 categories, including gaming consoles, beauty devices, camping equipment and sporting goods. The minimum rental period [...]
SEOUL, Aug. 21 (Korea Bizwire) – Convenience store franchise 7-Eleven will offer a service where customers can borrow cell phone batteries at any of the 700 stores in the Greater Seoul Metropolitan Area. By accessing Kokiri Box 2, a shared cell phone battery platform, customers can borrow cell phone batteries at a 7-Eleven store. The [...]
SEOUL, July 29 (Korea Bizwire) — Ever since the onset of the coronavirus pandemic, an increasing number of consumers are turning to rental services to use a variety of products without having to pay large sums of money to purchase them. Major online shopping malls Gmarket and Auction reported a 561 percent increase in the [...]
SINAN, Dec. 19 (Korea Bizwire) — Sinan County in North Jeolla Province, known for its robust fisheries industry, has begun to rent out fishing boats to young fishermen without the financial capability to purchase their own boat. The county has purchased a number of fishing vessels, and currently rents them out to those in need [...]
SEOUL, Oct. 22 (Korea Bizwire) — A new type of service plan is being introduced in the water purifier market, which is the core of the household rental market. The water purifier market is expected to grow to around 10 trillion won (US$8.54 billion) next year. Recently, major rental companies have discovered new demand from [...]
SEOUL, Oct. 7 (Korea Bizwire) — The operator of rental van-hailing service Tada said Monday it will sharply increase the number of service vehicles and drivers next year to meet rising demand. But its expansion strategy drew an immediate backlash from the country’s transportation authorities, which have been seeking to intervene in months-long wrangling between [...]
SEOUL, Oct. 6 (Korea Bizwire) — The rental van-hailing service Tada said Sunday that its service will be available across all metropolitan areas by the end of this year. The Tada service, launched in October last year and operated by car-sharing app SoCar’s subsidiary Value Creators & Company (VCNC), will expand services — which now [...]
SEOUL, Sept. 24 (Korea Bizwire) — The subscription economy, through which one can periodically receive products or services instead of purchasing them outright, is on the rise. Rental services, which used to be represented by water purifiers, are now in their heyday as they have expanded to various items such as LED masks and dishwashers. [...]
SEOUL, May 7 (Korea Bizwire) — Home furnishing is becoming a popular trend in South Korea, and an increasing number of furniture makers are trying to meet the change in demand by introducing less durable, but more affordable products. Consumers, who used to purchase expensive but durable furniture for long-term use, are now turning to [...]