SEOUL, Oct. 9 (Korea Bizwire) – South Korean consumers are grappling with inconvenient cancellation processes and limited refund policies in the country’s burgeoning video streaming market, according to a recent government investigation. The Korea Consumer Agency and Democratic Party lawmaker Min Byoung-dug released findings on October 8 from their joint study of six major streaming providers, including [...]
SEOUL, Oct. 3 (Korea Bizwire) – South Korean consumers are spending close to 500,000 won per year on subscription services, according to a new report released on October 2. The “Subscription Wars 2024″ report, presented by the British subscription bundling and payment company Bango at the M360 APAC conference in Seoul, reveals that South Korean consumers [...]
SEOUL, Jul. 12 (Korea Bizwire) – LG Electronics announced on July 11 that its subscription-based business model for premium home appliances is experiencing rapid growth, with more than 3 out of 10 customers opting for subscriptions over traditional purchases in June. The tech giant reported that 36.2% of sales for 20 subscription-eligible products at LG Best [...]
SEOUL, May 17 (Korea Bizwire) – LG Electronics is experiencing robust growth in its appliance subscription service, with projections indicating the company will reach the 1 trillion won sales mark for the first time this year in this burgeoning sector. In its first-quarter report released on May 16, LG Electronics announced that its appliance subscription business [...]
SEOUL, Apr. 26 (Korea Bizwire) – Baemin (Baedal Minjok), South Korea’s leading food delivery platform, is launching a new subscription service called “Baemin Club” that will provide unlimited discounts on delivery fees. The announcement was made on Tuesday by Woowa Brothers, the company that operates Baemin. The primary benefits of the subscription include free delivery fees [...]
SEOUL, Mar. 19 (Korea Bizwire) – Starting March 26, members of Coupang’s premium subscription service, Wow, will be able to order food through the company’s delivery platform, Coupang Eats, without paying any delivery fees, the company announced. In a bid to alleviate the burden of delivery costs for consumers, Coupang Eats will introduce an “unlimited free [...]
SEOUL, Dec. 14 (Korea Bizwire) – In South Korea, the rising trend of subscribing to multiple Over-The-Top (OTT) and online streaming services, such as Netflix, YouTube, Disney Plus, and Tving, is facing a new challenge: a series of price hikes that are increasing stress among subscribers. Recently, Netflix, already under scrutiny for banning account sharing among [...]
SEOUL, Aug. 31 (Korea Bizwire) — The subscription rate for pet insurance policies continues to languish at extremely low levels. The number of contracts for general insurance for dogs and cats stood at 33,621 as of late last year, which was merely 0.4 percent of the estimated number of all pets in the country (8.6 [...]
SEOUL, June 17 (Korea Bizwire) — A subscription-based tourism product, the first of its kind in South Korea, has been introduced by a state-run tourism promotion agency. The product was designed by combining the concept of travel with the recent subscription economy trend, in which consumers are provided a variety of products and services customized [...]
SEOUL, Nov. 10 (Korea Bizwire) — U.S. streaming giant Netflix Inc. is estimated to have brought in record-high paid subscriptions in South Korea last month, industry data showed Tuesday. An estimated 3.62 million viewers in South Korea presumably paid 51.4 billion won (US$45.9 million) for subscriptions in October, almost twofold from 26.2 billion won in [...]