SEOUL, Nov. 8 (Korea Bizwire) — South Korea’s major retailers are pumping up efforts to prepare for a potential inflow of Chinese tourists amid signs of a thaw in Sino-Korean relations, industry sources said Wednesday. Last week, Seoul and Beijing agreed to put bilateral ties back on track, setting aside their bitter row over the [...]
SEOUL, March 3 (Korea Bizwire) – South Korea’s retail giants, faced with cut-throat competition in the rapidly saturating domestic market, are turning their attention to overseas markets in conjunction with small and mid-sized businesses to secure a new growth driver, industry watchers said Thursday. The country’s three major retail conglomerates – Shinsegae Group, Lotte Group [...]
SEOUL, Nov. 23 (Korea Bizwire) – Large retailers in South Korea are claiming that they are being discriminated against by card firms over commission rates which could eat into their bottom lines amid a protracted economic slowdown, industry sources said Monday. According to the sources, some large-sized retailers have demanded a reduction in commission rates [...]
SEOUL, Sept. 25 (Korea Bizwire) — Department stores are undergoing big changes, with specialized retailers or service providers like barbershops and paint shops making appearances inside their spaces. These special shops are appearing as popup stores rather than taking up permanent residence in department stores. The phenomenon is the result of retailers choosing popup stores [...]