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Retailers May Suffer Greater from New Coronavirus than MERS

Retailers May Suffer Greater from New Coronavirus than MERS

SEOUL, Feb. 10 (Korea Bizwire) — The South Korean retail industry may suffer larger losses from the novel coronavirus than the Middle East Respiratory Syndrome (MERS) in 2015, analysts said Monday, citing the new virus’ high rate of infection and tightened quarantine efforts. “The new coronavirus may have a lower fatality rate compared with MERS, [...]

Retailers in S. Korea Close Outlets Due to New Coronavirus

Retailers in S. Korea Close Outlets Due to New Coronavirus

SEOUL, Feb. 3 (Korea Bizwire) — A string of major retailers, including duty-free shops and hypermarket chains, across the country have temporarily shut down some of their stores, industry sources said Monday, stoking concerns that China coronavirus outbreak could affect consumer confidence in the sector. Shilla Duty Free, one of the country’s leading duty-free operator, [...]

Retail Industry Gearing Up for 2020 with ‘White Rat’ Marketing Strategy

Retail Industry Gearing Up for 2020 with ‘White Rat’ Marketing Strategy

SEOUL, Jan. 2 (Korea Bizwire) — As the 2020 is the Year of the White Rat on the Chinese zodiac calendar, retailers are expected to present related products and hold special promotional events. Emart24, Shinsegae Group’s convenience store chain, will begin selling white mouse-shaped marshmallows made by the German company Aseli from Saturday. Furthermore, Shinsegae [...]

S. Korea and Japan Ratchet Up Competition in Vietnam

S. Korea and Japan Ratchet Up Competition in Vietnam

SEOUL, Oct. 25 (Korea Bizwire) — South Korean retail companies are engaged in a fierce battle with Japanese companies in the Vietnamese market, which has emerged as a “post-China.” According to the Korea Trade-Investment Promotion Agency, Vietnam’s retail industry has been growing rapidly, with an annual average growth rate of 10.9 percent between 2013 and [...]

Controversy Looms over New Legislation to Restrict Shopping Mall Operating Hours

Controversy Looms over New Legislation to Restrict Shopping Mall Operating Hours

SEOUL, Sept. 23 (Korea Bizwire) — South Korean shopping mall operators are paying attention to the National Assembly’s upcoming decision on a new legislative bill during the regular session that starts on Thursday. The ruling party is currently pushing for stricter regulations that would require large-sized malls, so-called super supermarkets (SSMs), and shopping complexes to [...]

Retail Stores Strike Back with ‘Malling’ Strategy

Retail Stores Strike Back with ‘Malling’ Strategy

SEOUL, Sept. 6 (Korea Bizwire) — The retail industry, cornered by a low-price offensive from e-commerce businesses, is striking back with a so-called ‘malling’ strategy. ‘Malling’ refers to all leisure activities at the mall, including shopping, dining, and watching movies or experiencing other forms of entertainment. Retail stores are focusing on children. The logic is [...]

Shopping Malls Fight for Survival amid Severe Crisis

Shopping Malls Fight for Survival amid Severe Crisis

SEOUL, Sept. 4 (Korea Bizwire) — Shopping malls are scrambling to overcome what is seen as one of the worst crises that they have ever faced. Retailers are pulling out all the stops to outlive the crisis, including selling off real estate and repurchasing shares. Lotte Corp. purchased 200,000 shares of Lotte Shopping Co., one [...]