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 [...]
SEOUL, Sept. 2 (Korea Bizwire) — Plastic waste is a nagging headache for Asia’s fourth-largest economy. After banning plastic cups and bags, the government is now moving to ban paper boxes and packaging tapes. Starting November, supermarkets will stop providing paper boxes and tape that shoppers can use to carry their groceries home, a move [...]
SEOUL, Aug. 30 (Korea Bizwire) — Empty paper boxes, tape and straps for packaging will disappear from large discount stores in the near future as part of an initiative to encourage customers to make use of more eco-friendly alternatives. The Ministry of Environment held a voluntary agreement ceremony Thursday afternoon to foster the use of [...]
SEOUL, Aug. 29 (Korea Bizwire) — The South Korean government and large retailers on Thursday agreed to work together to stop using paper receipts that are wasteful and harmful to the environment. At a gathering in Seoul, top policymakers from the finance, science and environment ministries along with representatives from 13 retailers, such as E-Mart, [...]
SEOUL, Aug. 20 (Korea Bizwire) — The rise of the delivery industry is having a big impact on large retailers, forcing them to come up with new logistics services. South Korean online shopping malls Coupang and Market Kurly have led the paradigm shift in the delivery industry after introducing the early morning delivery service, which [...]
SEOUL, Jul. 23 (Korea Bizwire) — Large retailers are struggling with the aftereffects of “dawn delivery.” With an increasing number of consumers preferring to have their purchases delivered the morning after they are ordered, related sales are increasing. However, losses are also growing. The main reason behind the losses is packaging expenses. Since most early-morning [...]
SEOUL, Jul. 22 (Korea Bizwire) — Men who lavishly invest in fashion and beauty, so-called ‘grooming men’, have emerged as new flagship customers for the retail industry. Those who open their wallets without hesitation to improve their appearance are working hard to groom themselves, a thought that was unimaginable in the past, with emphasis on [...]
SEOUL, Apr. 18 (Korea Bizwire) — Online retailers in South Korea are scrambling to offer eco-friendly delivery services as environmental awareness is spreading among local consumers. Hello Nature, a South Korean online food market, announced on Wednesday that it will replace all delivery materials with boxes made of recyclable woven polyethylene and ice packs made [...]
SEOUL, Mar. 25 (Korea Bizwire) — A number of fashion and beauty retailers have opened new hybrid stores that house numerous brands in one place, industry sources said Monday. The move is apparently aimed at putting various brands in the same store to lure more customers in a highly competitive environment driven by increasingly price-conscious [...]
SEOUL, Mar. 20 (Korea Bizwire) — South Korean retail giants are increasingly introducing automated systems to save their employees time on simple tasks as part of efforts to adapt to a shortened workweek, industry sources said Wednesday. In July last year, South Korea adopted a 52-hour workweek for both private and public firms with 300 [...]