Reporting and analysis on retail, e-commerce, and consumer trends in Korea, updated continuously by our newsroom.
GS Retail vice chairman Huh Seung-jo stepped down from his post in the latest executive reshuffle announced by GS Group on Tuesday. He has been replaced by his nephew and GS Retail president Huh Yeon-soo, the son of Huh Shin-goo — the fourth son of the GS…
South Korean tech giant Samsung Electronics’ Galaxy smartphone was selected as the most valuable brand in South Korea for the fifth consecutive year, a survey showed Sunday. The Samsung Galaxy phone ranked first in the brand survey by Seoul-based market…
Innisfree, the Korean natural cosmetics brand owned by Amore Pacific, is to open its largest store yet, in China. Amore Pacific announced Innisfree China will open an 827 sqm flagship store in Shanghai. This is the largest store among all of Innisfree’s…
On top of seasonal sales and occasional promotions, major South Korean retailers have been holding a series of big discount events since summer to create an intense, promotion-heavy atmosphere through the Christmas season and beyond. The discount binge has…
Korean coffee franchise Coffine Gurunaru is to open one of its largest stores in Hainan, China in the first stage of a planned China rollout. The new store is in the middle of Lan Kwal Fong St, the main street of Hainan, and is described as “exceptionally…
People love bargain deals. Clearance sales with 80 percent or more off can even lure customers in to buy things they don’t need. That’s why retailers offer “door buster” deals when they need to handle rising stockpiles or attract customers during holiday…
South Korea’s Lotte Duty Free has lost the licence to operate one of its large stores in downtown Seoul. Beleaguered Lotte – in the midst of a family feud over its management and on the eve of a planned IPO of its Hotels unit – has been displaced by heavy…
Two consortiums, led by South Korean Internet giant Kakao and No. 2 telecom operator KT, were approved to launch the nation’s first Internet-only banks next year, the banking authority said Sunday. Under the government’s pilot program, the two banks will…
Starbucks Korea is to launch a ‘startup cafe,’ in partnership with the country’s government, to stimulate innovation. The South Korean arm of the world-famous coffee chain Starbucks and the country’s ICT ministry said Tuesday the “startup cafe” will be a…
Focus on the online sales channel, digital initiatives, and revival of its travel retail channel, will be the key drivers for Estee Lauder‘s (NYSE:EL) growth in the future. While travel retail showed tremendous growth in 2014, the slowdown in China and…
Korean consumers are becoming cynical about store pricing as they are increasingly exposed to cheaper international online marketplaces and have experienced months of sales and promotions by bricks-and-mortar outlets. K-Sale Day, Korea’s Black Friday, Korea…
Korea Aerospace Industries (KAI) signed a provisional contract with Indonesia for the country’s investment in the Korean Fighter Experimental (KF-X) project. According to the contract, Indonesia is to bear 20% of the system development cost associated with…
Thousands of jobs are under threat in the wake of the Korea Customs Service’s shock decisions last Saturday in awarding duty-free licenses in Seoul. Two major players had their licenses revoked. Lotte Group plans to close its World Tower branch in Jamsil,…
The American membership-only warehouse club Costco Wholesale Korea has opened its online shopping mall this week. It is the first among the Asian countries Costco has entered, and its fifth international online shopping site after the US, England, Canada and…
UK department store operator John Lewis has hinted at its trading performance in Asia as it announced another offshore expansion – into the Netherlands. John Lewis chose Singapore as the first of 15 new international markets it plans to expand into back in…
Habstore Korea is to open a pop up in New York City to help build its reputation as the go-to point for fashion created by young Korean designers. Habstore already features more than 100 Korean fashion designers – whose reputation and popularity are expanding…
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