SEOUL, Aug. 25 (Korea Bizwire) — Singapore-based e-commerce firm Qoo10 plans to acquire TMON Inc. through a stock swap deal, industry sources said Thursday. TMON’s two major shareholders — Anchor Equity Partners and Kohlberg Kravis Roberts & Co. — have agreed on the stock swap deal with Qoo10, according to the sources. Under the deal, [...]
SEOUL, May 19 (Korea Bizwire) — TMON Inc., one of South Korea’s major e-commerce operators, said Wednesday it will introduce a new payroll system with gamification starting from July. Under the new system, employees can earn higher salaries if they achieve higher levels by gaining experience points depending on individual performance. They can get experience [...]
SEOUL, April 27 (Korea Bizwire) — TMON Inc., one of South Korea’s major e-commerce operators, said Monday it is pushing for a listing on the country’s stock market next year. The decision for an initial public offering (IPO) apparently came as the company posted its first monthly operating profit in nearly 10 years. In March, [...]
SEOUL, Jul. 15 (Korea Bizwire) — So-called ‘ugly fruits’ with defects are increasingly popular at online markets. Fruits with defects have either been affected by bugs or have problems in appearance and went unsold at supermarkets and other places, discarded as ‘ugly fruits.’ E-commerce company TMON Inc. said Sunday that sales of ‘ugly fruit’ jumped [...]
SEOUL, Jul. 5 (Korea Bizwire) — South Korean online shopping mall TMON Inc. announced on Thursday that it will introduce a new pick-up service for new employees. Starting this month, TMON will send a chauffeured vehicle to pick up new employees on the first day of their job at TMON, to give them a good [...]
SEOUL, Apr. 22 (Korea Bizwire) — E-commerce is thriving in South Korea on the back of fast delivery and competitive pricing, but mounting losses by major operators are raising questions whether their business models are sustainable in the face of increasingly toughening competition, industry insiders said Monday. The e-commerce industry has seen explosive growth in [...]
SEOUL, April 14 (Korea Bizwire) – South Korea’s online shopping site operators continued to report operating losses last year from a year earlier, as more market competition hurt their profitability, regulatory data showed Friday. Coupang Inc. suffered a combined operating loss of 560 billion won (US$490.8 million) in the January-December period of 2016 compared with [...]
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 [...]
SEOUL, April 5 (Korea Bizwire) – Televisions produced by small and medium-sized companies are becoming popular for their unique value proposition of a high-quality image at a reasonable price. According to online shopping site Tmon (www.tmon.co.kr), the Q1 sales of TVs manufactured by small-size domestic companies increased by 63 percent year over year. As a [...]
Seoul, July 22 (Korea Bizwire) – Xiaomi (小米), a Chinese electronics company, is growing into a giant in the Korean market despite its humble name, which means ‘millet‘. With positive evaluations that their products perform well despite cheap prices, Xiaomi is dominating the online market as well as offline retailers such as HiMart. In addition, due [...]