SEOUL, Oct. 9 (Korea Bizwire) – South Korea’s job market presented a mixed picture in the first half of 2024, with significant job losses in construction and retail sectors contrasting with growth in social welfare and software development, according to a report released by Statistics Korea on October 8. The “Regional Employment Survey: Industrial and Occupational Characteristics [...]
SEOUL, Sept. 27 (Korea Bizwire) – The rise of e-commerce in South Korea has led to a steady decline in retail employment, with the number of sales workers decreasing for 60 consecutive months, according to recent government data. Statistics Korea reported on September 26 that the number of sales workers last month stood at 2.55 million, [...]
SEOUL, Jun. 25 (Korea Bizwire) — Retail sales in South Korea rose by 8.8 percent on-year in May, driven by promotional events launched by online shopping platforms, data showed Tuesday. The combined sales of 25 major offline and online retailers amounted to 16.3 trillion won (US$11.7 billion) last month, compared with 14.9 trillion won a [...]
SEOUL, May 28 (Korea Bizwire) — Retail sales in South Korea grew 10.8 percent on-year in April on the back of stronger demand from the online segment, data showed Tuesday. The combined sales of 25 major offline and online retailers came to 15.4 trillion won (US$11.2 billion) for last month, compared with 13.9 trillion won [...]
SEOUL, Apr. 29 (Korea Bizwire) — Retail sales in South Korea rose 10.9 percent on-year in March on the back of stronger demand for travel and entertainment services from online platforms, data showed Monday. The combined sales of 25 major offline and online retailers came to 15.8 trillion won (US$11.45 billion), compared with 14.2 trillion [...]
SEOUL, Apr. 1 (Korea Bizwire) – In a seismic shift for South Korea’s retail landscape, the e-commerce giant Coupang has surpassed the long-dominant E-Mart to become the country’s highest-ranked retail brand, according to the latest quarterly evaluation by brand consultancy BrandStock. Coupang achieved a brand stock top index (BSTI) score of 902.8, vaulting to 9th place [...]
SEOUL, Mar. 19 (Korea Bizwire) – With apple prices hitting record highs and fresh food costs skyrocketing, retail chains in South Korea are deploying innovative techniques to extend the shelf life of fruits and vegetables, seeking to minimize wastage of these increasingly precious and perishable commodities. At Lotte Mart, the company has been installing “Pure Space” [...]
SEOUL, Mar. 18 (Korea Bizwire) – On a recent morning at Hyundai Department Store’s headquarters, a junior employee took the stage to provide a most unconventional corporate training: instructing the company’s highest executives on how to market to young consumers. The speaker, a manager from the cultural content team, regaled the audience of C-suite leaders and [...]
SEOUL, Mar. 4 (Korea Bizwire) — South Korea’s industrial output inched up in January despite the marked fall in semiconductor production, data showed Monday. Industrial output gained 0.4 percent on-month last month, the third consecutive on-year increase, according to the data compiled by Statistics Korea. But the output in the overall mining manufacturing sector shed [...]
SEOUL, Feb. 19 (Korea Bizwire) – The utilization of Artificial Intelligence (AI) in the retail industry is advancing beyond basic search functionalities, personalized recommendations, and chatbot consultations, towards unmanned and hyper-personalized services. According to recent industry reports, a competitive race in AI development and application is unfolding across various sectors, including e-commerce, department stores, supermarkets, convenience [...]