Reporting and analysis on retail, e-commerce, and consumer trends in Korea, updated continuously by our newsroom.
South Korean fintech unicorn, Viva Republica, raised $64 million for its financial service platform Toss pushing the firm’s total value to $2.2 billion. The Seoul-based fintech has raised a total of $250 million, including $80 million in the December round,…
Blue Bottle Coffee’s first South Korean cafe which opened in Seoul’s artsy Seongsu neighborhood earlier this year, features an industrial-style design with steel surfaces and red-brick fixtures. The cafe was designed by Schemata Architects, which has already…
As a South Korean consumer boycott of Japanese goods gains momentum, consumers are starting to share information on new and upcoming Japanese retailers coming to the country. The intention, reports Korea Bizwire, is to include the retail brands on the boycott…
Luxury skincare brand Aesop has opened a distinctive store in south-central Seoul designed by Hong Kong designers Mlkk Studio. The designers laid out the two-level Aesop store in Seoul using reclaimed red bricks to fashion within the building’s slate-grey…
A boycott campaign against Japanese products and services is becoming a nationwide movement and extending into travel. The boycott started after Japan imposed trade restrictions against South Korea. Amid the boycott, a series of statistics show that the…
Korean beauty firm Amorepacific has launched a new pop-up store, “Sulwhasoo Universe”. The firm hosted an event at the China Duty Free Group (CDFG) Sanya International Duty-Free Shopping Complex – the world’s largest duty-free store – to celebrate the opening…
After years of struggle in the face of a decline in Chinese tourists and increased competition, South Korean duty-free operators are in search of a more stable and sustainable business portfolio — to reduce their reliance on Chinese visitors and generate…
Yanolja’s gentrification of South Korean love hotels has brought the company a valuation of more than $1 billion from investors keen to capitalise on the globalisation of a novel approach to short-stay accommodation, its chief executive told Reuters. The…
Single-use cup consumption at Korean fast-food restaurants has plunged by 72 per cent. The changes have occurred in the year since establishments began to participate in a move initiated by the government to pull back plastics use. The Korean Ministry of…
Korean grocery delivery service Kurly has closed an upsized Series D round that hit US$113 million. The round was announced last April at $88 million, but has since attracted an additional $25 million funding from China’s Hillhouse Capital. Kurly delivers all…
In-N-Out Burger, a popular American hamburger franchise, opened a pop-up store on Wednesday in Gangnam, Seoul, drawing hundreds of visitors. People began lining up at the store from 6am to try out what can otherwise be tasted only in America. The 250 burgers…
After bringing in its contender for the subcompact SUV segment – the Venue, Hyundai India is all set to bring in another SUV into the country and this time around it will a product that will launch the company’s electric product offensive. Yes, the Kona…
Incheon Airport duty-free tenders will be released in the fourth quarter of this year. The airport, thought to be the world’s most lucrative for retail, has committed to a fair-tender process for both international and local retailers seeking spots in its…
The first crop of Asian operators have responded to the US trade ban on Huawei and its implication for Huawei’s access to the Android OS by freezing sales of new Huawei devices. Japan’s KDDI and SoftBank have both revealed plans to postpone the planned launch…
Pyongyang department store design takes cues from foreign states. A new North Korean department store just opened in Pyongyang is drawing attention for welcoming foreign technologies and products, as well as management strategies and culture. The Choson…
SK Telecom is demonstrating the potential of 5G to enable virtual reality video streaming by developing exclusive VR content for a popular reality TV series. The company is offering 100 exclusive VR clips related to the Produce X 101 idol audition program on…
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