SEOUL, Sept. 12 (Korea Bizwire) – South Korea’s large retailers affiliated with family-controlled conglomerates, or chaebol, account for more than 60 percent of violations of a related law over the past five years, a report showed Wednesday. The Fair Trade Commission (FTC), South Korea’s antitrust watchdog, detected 48 breaches of the act on fair transactions [...]
SEOUL, Aug. 30 (Korea Bizwire) — South Korean retailers are increasingly joining hands with Chinese mobile payment platforms to attract more Chinese visitors as they strive to recover from the fallout from a diplomatic row between Seoul and Beijing, industry sources said Thursday. Shinsegae DF Inc. said it has adopted UnionPay’s QR code payment system [...]
SEOUL, Aug. 29 (Korea Bizwire) — South Korean retailers’ race to automate their outlets is accelerating with leading industry players unveiling robots that can replace shop workers, market watchers said Wednesday. On Tuesday, Korea Seven Co., the operator of convenience store chain 7-Eleven in South Korea, introduced a robot that allows customers to pay with [...]
SEOUL, Aug. 16 (Korea Bizwire) — E-Mart Everyday Inc., retail giant Shinsegae’s supermarket chain operator, said Thursday it will open a “cashier-less” store in Seoul this week in its latest effort to secure competitiveness through the use of new technologies. The 212-square-meter store in Gangnam, southern Seoul, will open Friday after remodeling to allow customers [...]
SEOUL, Aug. 16 (Korea Bizwire) — South Korean retailers are accelerating efforts to attract more Chinese consumers, companies said Thursday, as they strive to recover from the fallout from the diplomatic row between Seoul and Beijing over the stationing of a U.S. anti-missile system. Lotte Duty Free, South Korea’s No. 1 duty-free operator, said it [...]
SEOUL, Nov. 8 (Korea Bizwire) — South Korean retailers and wholesalers lag far behind other firms in spending on research and development (R&D) and the adoption of new technologies, despite the ongoing the fourth industrial revolution, a report said Wednesday. The local distribution industry’s ratio of R&D expenditure to sales came to 0.5 percent in [...]
SEJONG, Aug. 16 (Korea Bizwire) – The increasing popularity of “PB Products” like E-mart’s “No Brand” goods is lining the pockets of retailers, but doing little to benefit manufacturers according to a report published by the Korea Development Institute (KDI). PB products (Private Brand) are a variety of consumer goods that are produced by manufacturers [...]
SEJONG, Oct. 13 (Korea Bizwire) – South Korean retailers saw their sales increase more than 10 percent during a nationwide shopping festival that started late last month thanks to rising demand from Chinese shoppers, government data showed Thursday. The massive shopping campaign called “Korea Sale Festa,” which began Sept. 29 for 11 days, was designed [...]
Global Fashion Executive Brings Proven Experience as Visionary Brand-Builder and Broad Leadership Skillset to Drive Growth for Iconic American Brand DODGEVILLE, Wis., Feb. 2 (Korea Bizwire) — DODGEVILLE, Wis., Feb. 2, 2015 (GLOBE NEWSWIRE) — Lands’ End, Inc. (Nasdaq:LE) today announced that its Board of Directors has named Federica Marchionni as Chief Executive Officer. Ms. [...]
SEOUL, May 3 (Korea Bizwire) – As suburban outlet operators are branching out into the city, the market is growing fast. To keep up with such a trend, Hyundai Department Store Group has recently stepped into the urban outlet market. On May 1, Hyundai Department Store announced that it would open a Hyundai Outlet branch [...]