social commerce Archives | Be Korea-savvy
Social Commerce Company Launches Comparison Website for Financial Products

Social Commerce Company Launches Comparison Website for Financial Products

SEOUL, Feb. 8 (Korea Bizwire) – Ticket Monster, South Korea’s leading social commerce company, announced Tuesday the  launch of a comparative website dubbed T-Mon Finance Mall (translated), which allows customers to compare some 5,800 on and offline financial products from 220 companies.  The products available include credit cards, insurance, loans, bank accounts, installment savings, and [...]

Social Commerce Companies Throw in the Towel, Tone Down Free Delivery Competition

Social Commerce Companies Throw in the Towel, Tone Down Free Delivery Competition

SEOUL, Oct. 12 (Korea Bizwire) – Social commerce companies are putting an end to competing each other with free delivery services as operating losses continue to soar. Coupang doubled the minimum purchase required for free delivery (Rocket Delivery) from 9,800 ($8.73) to 19,800 starting Tuesday.  Rocket Delivery is the company’s ambitious service that offers delivery within [...]

FTC Launches Investigation into Social Commerce Company Trade Practices

FTC Launches Investigation into Social Commerce Company Trade Practices

SEOUL, June 22 (Korea Bizwire) – While the social commerce market has been growing rapidly in Korea, the Korean Fair Trade Commission (FTC) has begun investigating unfair trade practices at Korean social commerce businesses. According to an industry expert, Coupang and Ticketmonster are being accused of violating the Large Scale Distribution Law, which triggered the FTC’s [...]

New Retail Platforms Tear Down Boundaries

New Retail Platforms Tear Down Boundaries

  SEOUL, April 18 (Korea Bizwire) – The lines between types of retailers are blurring, with open markets and social commerce businesses broadening their horizons to retail brokerage services. The industry is leaving no stone unturned in a push to attract consumers to mobile shopping markets. Large offline discount stores are building logistics centers for [...]

TMON Pay Attracts 200,000 Subscribers in its First Month

TMON Pay Attracts 200,000 Subscribers in its First Month

SEOUL, April 7 (Korea Bizwire) – TMON Pay, the proprietary simple payment system from Korea’s first social commerce provider Ticket Monster (TMON), has attracted more than 200,000 subscribers just one month after its launch. TMON Pay enables payments in just three seconds by inputting a password whenever a subscriber purchases products at the social commerce [...]

[China Report]  Chinese Social Commerce Industry Undergoing a Wave of Consolidation

[China Report] Chinese Social Commerce Industry Undergoing a Wave of Consolidation

SEOUL, Korea, Mar 28 (Korea Bizwire) – According to data released recently by the China International Electronic Commerce Center, the number of social commerce sites closed for business since the beginning of the first social commerce site in China has been 5,376 out of total 6,246 operators. The closure rate is as high as 86 [...]