Reporting and analysis on retail, e-commerce, and consumer trends in Korea, updated continuously by our newsroom.
South Korean fashion giant Sungjoo Corp., which owns and runs German luxury bag brand MCM, on Friday said it will adopt the latest technology to create an innovative fashion code and lead the new luxury trend. “We will combine technology and fashion to create…
South Korea will hold a nationwide shopping festival involving major retailers, manufacturers and traditional markets in the fall to draw foreign travelers and jack up lackluster domestic consumption, the government said Tuesday. The Ministry of Trade,…
South Korea’s Lotte Group has come under suspicion of using a shell company that owns a mega mall in Vietnam to funnel money into a possible slush fund. Luxembourg-incorporated Coralis SA, the company in question, developed Lotte Center Hanoi at a cost of…
South Korea’s Woori Bank expects to establish a Vietnam unit this month or in July, a bank official said on Tuesday, as part of the lender’s plans to expand its network in the expanding market of Southeast Asia. Woori Bank, South Korea’s largest bank in terms…
Food researcher and marketing expert Kim Young-wook is helping educate South Korean palates with the country’s first insect restaurant, Papillon’s Kitchen in Seoul, with a menu including cookies, sandwiches and pasta. “The biggest challenge has been the…
Busan’s Haeundae district is best known for its beach that attracts millions of visitors each summer. But it’s also a major MICE (meetings, incentives, conferences, and exhibitions) center, with the Busan Exhibition and Convention Center (BEXCO),and hosts…
A new H&M athleisure wear range is to be launched in July, developed with input from the Swedish Olympic team and fronted by personalities including Caitlyn Jenner. The launch of For Every Victory makes H&M one of the first major multinational fashion brands…
South Korean prosecutors carried out further raids on businesses of the Lotte Group, a sprawling conglomerate at the centre of a bribery probe. At least 10 divisions were raided including its chemical and confectionery businesses, a spokesman said. The raids…
In the midst of reorganisation to improve competitiveness, Benetton group has decided to take back its distribution arm in South Korea. Both Benetton brands and Sisley have for a long time been represented in the country via a 50/50 joint venture with a local…
Samsung Electronics is expected to launch another budget smartphone Galaxy On7 in Korea in the coming weeks via SK Telecom, sources said on June 15. The model is the Korean tech giant’s cheapest smartphone that is sold at 10,190 rupees ($153) exclusively in…
eBay Korea has joined forces with nationwide convenience store chain GS25 to offer consumers a combined online-offline sales service. The partnership will see the launch of the “Smile Box” service, in which deliveries are made to an unmanned box for…
Flying drones for business will become legal in South Korea from next month, allowing the possibility of drone deliveries. Laws about drone flights have been revised by the Ministry of Land, Infrastructure and Transport. Previously, aeronautical laws…
A series of prosecution probes on alleged embezzlement and malpractice in subsidiaries of Korea’s retail giant Lotte Group hints that the nation’s fifth-largest family-controlled conglomerate’s chairman Shin Dong-bin may be questioned as well.A high-ranking…
South Korea’s iShares MSCI South Korea Capped ETF (EWY) slid on June 9 after the Bank of Korea cut interest rates by 25 basis points to 1.25%. This is a record low for the Korean policy rate, which is aiming to support the government’s plan for massive debt…
Tech giant Xiaomi Korea took another step forward in its Korean operations by opening its first offline store in Seoul. The Chinese-headquartered smartphone and electronics brand has opened the store inside the Yongsan Electronics Market, one of the largest…
Statistics Korea revealed Tuesday that it’s developing what it calls a ‘quick-time consumption index’ based on civilian credit card approval information provided by the Credit Finance Association (CFA). The new index will use big data related to credit card…
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