Reporting and analysis on retail, e-commerce, and consumer trends in Korea, updated continuously by our newsroom.
Lotte Mart, South Korea’s No. 2 discount chain, is under investigation for allegations of unfairly pressuring a supplier into selling pork bellies below production cost, Korea’s antitrust watchdog said Tuesday. A source at the Fair Trade Commission (FTC) said…
Chinese electronics giant Xiaomi’s sister company Zmi has tapped into the Korean market by partnering with local online retail site 11st.co.kr. The online auction and retail site said Monday that it signed a deal with Zmi, offering exclusive retail channels…
With a hard hat on, Finance Minister Yoo Il-ho showed up at the Pyeongtaek port in Gyeonggi early Friday morning, just as Kia cars were being readied for the ships that would take them to overseas markets. He met with local government leaders and businessmen…
South Korean skincare brand Laneige has opened a new concept store in Ion Orchard, Singapore. Not only does the outlet have a new look, but it features exclusive products. It is the ninth Laneige store for Singapore, the first opening in 2012. Exclusive to…
In the backstreets of Seoul, hipster culture is flourishing, and specialist cafés and eateries are jostling with big brand names to gain exposure in so-called “hot” neighborhoods. And as the crowds grow, so too do the retail rents. Just 10 years ago, Seoul…
Max Brenner “the baldy man” has opened its first stores in Japan and Korea as it expands its Asian footprint. The first Korean store (pictured) was opened quietly in Seoul in late November. In Japan, the brand made its debut in Tokyo’s upmarket Omotesando…
European shares fell on Wednesday as a self-professed bout of nuclear testing by North Korea and a falling renminbi rattled investors. By late morning in London, the FTSE 100 was down 1.33% at 6,055.53. Mining stocks, as leaders BHP Billiton (BHP) and Rio…
Several media organisations in South Korea and beyond have reported criticism from the 100,000-strong ‘I Love Smoking’ online pro-smoking group towards ‘alleged’ plans by the South Korean government to halt sales of duty free cigarettes at Jeju International…
South Korean technology giant Samsung Electronics is expanding its mobile payments service to three additional countries, including Singapore. The Korean company made the announcement during its press conference at the Consumer Electronics Show on Tuesday,…
Park Geun-Hye’s South Korean government has commissioned a formal review of the domestic duty free industry, its impact on tourism and what it perceives as the dominance of Lotte Duty Free and Shilla Duty Free in the sector. A private consulting firm has been…
Amazon Web Services has reported the opening of its twelfth geographic locale in Korea bringing the number of accessibility zones to 32. There are two new accessibility zones accessible in Seoul giving Korean clients the power alternative that they have been…
The total value of purchases made through mobile phones hit a record in November 2015. According data from Statistics Korea on Monday, the amount of mobile transactions surged 52.3 percent on year to W2.44 trillion (US$1=W1,190). That is almost half of the…
THE GAISANO family has taken in Woori Bank of South Korea as a strategic partner in thrift bank subsidiary Wealth Development Bank Corp. to brace for stiffer competition in the banking system. Cebu-based Vicsal Development Corp. (Vicsal), the parent firm of…
The unusually warm weather has hurt Korean retailers sales of everything from winter coats to snow boots, while boosting sales of outdoor sportswear and camping gear, store executives say. December was the warmest month on record in South Korea as an…
The Gaisano family has enlisted Woori Bank of South Korea as a strategic partner in thrift bank subsidiary Wealth Development Bank Corp. to boost the banking unit amid a competitive local banking landscape. Cebu-based Vicsal Development Corp. (Vicsal), parent…
Mr. Park, a 50-year-old manager of a coffee shop in Yeouido, western Seoul, recently bought an integrated circuit (IC) card reader for 400,000 won ($343). Last summer, the country’s financial authority required shops to use them so customers could pay with…
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