Reporting and analysis on retail, e-commerce, and consumer trends in Korea, updated continuously by our newsroom.
The operator of South Korea’s CU convenience stores, BGF Retail, has achieved KRW189.5 billion (US$168.9 million) in operating profit last year, a leap of more than 600 per cent over last year. The company said on Tuesday its sales had risen by 515.3 per cent…
Samsung Electronics will expand investments to develop youth education programs, it said Monday. The company’s three division heads sent an in-house broadcast to employees that day to share a newly set mission: “Enabling people,” which means to help people…
Hyundai Motor is considering releasing a range of bottled water inspired by its hydrogen fuel-cell vehicle Nexo, the company confirmed Monday. The automaker is hoping to use the Nexo-branded water to market its Nexo sport-utility vehicle (SUV) as pure and…
The chief of Hyundai Motor’s financial affiliates outlined the units’ digital strategy and future vision at IBM’s largest annual conference that ran through Friday in San Francisco. Chung Tae-yong, who heads Hyundai Card, Hyundai Capital and Hyundai…
Korea’s air purifier market has tripled since 2016 thanks to worsening fine-dust pollution levels and growing health concerns. Last year, Koreans bought 1.8 million air purifiers worth around 760 billion won ($676 million), according to market researcher GfK.…
Hyundai Motor Executive Vice Chairman Chung Eui-sun laid out a plan to develop 44 electric vehicle models (EVs) and sell 1.67 million of the cars by 2025 during his New Year’s message held at the beginning of this year. The goal was a dramatic increase on the…
E-commerce company Coupang said Thursday it signed a memorandum of understanding (MOU) with HP Korea Wednesday to strengthen sales channels for the technology company’s products. Through the agreement, Coupang will directly acquire HP products from the…
South Korean beauty group Amorepacific and AS Watson have expanded their partnership to cover Asia and Europe. The partnership will enable Amorepacific to increase its product presence through Watsons-owned stores and online. Before this, the two had already…
Processed food prices rose in January, with soybean paste, sugar and cola all jumping up around 10 percent compared to a year earlier. The Korea Consumer Agency (KCA) said Monday that 18 of 26 major processed foods measured both in 2018 and 2019 cost more in…
LG Electronics’ major release of the year will be dual display smartphones, which the company hopes will recover its reputation as consumers flock to next-generation 5G smartphones. “There were internal discussions on releasing foldable phones at the same…
South Korea’s Samsung will launch the first three of a planned network of North American stores this coming week, timed to coincide with the expected release of its next-generation Galaxy smartphone. The smartphone-focused Samsung US stores will open in the…
US retail property specialist Taubman Centers is to sell a 50 per cent stake in three of its shopping centres in China and Korea to funds managed by private equity company Blackstone Group. The deal, worth US$480-million, is expected to be settled later this…
The Korea International Trade Association (KITA) said Tuesday it has set up an office in Dubai to help local start-ups advance into the Middle Eastern market. Under an agreement with Dubai Future Foundation, the Korea Office will be set up at Emirates Towers…
SoftBank Ventures announced Tuesday it invested 4.5 billion won ($4 million) in Trevari, a Korean book club operator. Fast Investment, another venture capitalist firm, invested an additional 500 million won in Trevari’s first publicly-announced funding round.…
ID cards, laptops and business trips will no longer be necessary, according to SK Telecom, when the 5G network-based smart office environment becomes an industry norm. The mobile carrier showcased its smart office technology test bed in Jongno District,…
Renault Samsung Motors and its labor union once again failed to reach a consensus on 2018 wages after negotiations fell through for a 14th time on Tuesday. Renault Samsung is the only domestic automaker that has still not clinched a wage deal for last year. A…
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