Shinsegae Archives | Be Korea-savvy
Antitrust Chief Urges Voluntary Change of Conglomerates

Antitrust Chief Urges Voluntary Change of Conglomerates

SEJONG, Dec. 15 (Korea Bizwire) — The head of South Korea’s antitrust watchdog said he expects the country’s large businesses groups to voluntarily reform their cobweb-like family-run governance structures to meet market expectations and promote fair competition. “I once again reaffirm that I will never be pushy and coercive in carrying out reform on conglomerates,” [...]

Shinsegae’s Bold Business Moves Draw Attention

Shinsegae’s Bold Business Moves Draw Attention

SEOUL, Dec. 8 (Korea Bizwire) — Shinsegae Group vice chairman Chung Yong-jin’s business acumen is making headlines, with the success of the Starfield shopping complexes and the decision to cut employee working hours down to 35 per week from next year. The plan to slash working hours to help improve employee work-life balance was announced [...]

Shinsegae to Reduce Working Hours Without Wage Cut

Shinsegae to Reduce Working Hours Without Wage Cut

SEOUL, Dec. 8 (Korea Bizwire) — South Korea’s retail giant Shinsegae said Friday it will reduce its employees’ working hours to 35 per week starting next year as part of its efforts to improve their work-life balance. It will mark the first case for a local conglomerate to adopt the 35-hour working week policy, when [...]

Leading Department Store Revs Up Efforts to Liven up Offline Malls

Leading Department Store Revs Up Efforts to Liven up Offline Malls

SEOUL, Dec. 6 (Korea Bizwire) – South Korean retail giant Shinsegae is striving to bring more people out to offline malls as local consumers increasingly opt for online shopping, industry sources said Wednesday. In late May, the retailer launched an open library at the Convention and Exhibition Center (COEX) in southern Seoul as part of its efforts to attract more shoppers to its shopping complex Starfield [...]

Fashion Companies Rev Up Overseas Push Amid Domestic Slump

Fashion Companies Rev Up Overseas Push Amid Domestic Slump

SEOUL, Oct. 11 (Korea Bizwire) — South Korean fashion companies are accelerating efforts to tap into overseas markets amid a prolonged domestic slump, industry watchers said Wednesday. Shinsegae International Inc., the apparel arm of retail giant Shinsegae, said it is planning to open three more VOV stores in China this year. The company currently runs [...]

Large Retailers Post Sales Growth During Long Chuseok Holiday

Large Retailers Post Sales Growth During Long Chuseok Holiday

SEOUL, Oct. 9 (Korea Bizwire) — South Korea’s large retailers posted solid sales ahead and during this year’s Chuseok holiday helped by all out marketing efforts to attract customers, industry sources said Monday. Data provided by local retailers showed double digit growth by some companies as the country celebrated the longest holiday in decades. Chuseok, [...]

Conglomerates Raise Issue of Chinese Economic Retaliation at Special Meeting with President Moon

Conglomerates Raise Issue of Chinese Economic Retaliation at Special Meeting with President Moon

SEOUL, Jul. 28 (Korea Bizwire) — At a special ‘beer garden’ meeting held on Thursday at the Blue House with President Moon, executives from South Korean conglomerates raised the issue of China’s economic retaliation against South Korean companies, particularly electric vehicle battery manufacturers, urging the government to take action. During the unique meeting, Moon was [...]

Shinsegae to Spend 300 Bln won in Loss-making Convenience Store Business

Shinsegae to Spend 300 Bln won in Loss-making Convenience Store Business

SEOUL, Jul. 13 (Korea Bizwire) — Retail giant Shinsegae said Thursday it will invest 300 billion won (US$263 million) over the next three years to help its loss-making convenience store business cope with the rapidly growing market. Shinsegae, which tapped into the convenience store market in 2014 with an acquisition, has been suffering from losses [...]

Shinsegae Goes Mobile to Overcome July Sales Slump

Shinsegae Goes Mobile to Overcome July Sales Slump

SEOUL, Jul. 11 (Korea Bizwire) — Shinsegae Department Store is tackling July head on in a bid to boost revenue in what is typically the worst sales month of the year, by launching a series of mobile events and services. The South Korean department store chain announced on Sunday plans to send shopping information to clients [...]