Reporting and analysis on retail, e-commerce, and consumer trends in Korea, updated continuously by our newsroom.
Korea Ginseng Corp (KGC) is expanding into the health and beauty market with experimental stores. Called “Lounge 1899” as a way to emphasise 119 years of history of its ginseng, the stores target consumers in their 20s and 30s and foreign tourists. They allow…
South Korea’s Minigood chain is heading for Israel, where an individual has signed a five-year exclusive franchise agreement. Daniel Pardilov from the Pardilov & Co law firm, which represents the franchise holder, says the plan is to open at least 10 outlets…
Korean eyewear brand Gentle Monster has opened its fifth flagship store for China, in Guangzhou. It has set up in two adjacent units at the Taikoo Hui mall, which is known for its luxury boutiques. Like other Gentle Monster flagships, the store has a themed…
Watsons personal and beauty care stores across Korea will go through a makeover under a new name “Lalavla,” its operator GS Retail announced on Tuesday in hopes to take on the dominant player Olive Young in the burgeoning street beauty market through…
Following series-A funding of US$2.75 million, Taiwan online retail platform Citiesocial seeks to expand into other parts of Asia. Its funding round was led by the Taiwan fund of Alibaba Group Holding. Citiesocial, which sells items such as water bottles and…
Singapore’s sovereign wealth fund GIC has injected KW100 billion (US$91 million) into Korean retail major E-Land Group. The round was part of a KW200 billion investment led by Hong Kong-based Anchor Equity Partners. With interests in malls, restaurants, theme…
Korean childrenswear brand UniFriend Vietnam is planning expansion into Ho Chi Minh City via franchising. After opening three stores in Hanoi towards the end of last year, the brand is seeking franchisees and agents to sell its products in Ho Chi Minh City…
GS Retail, which runs South Korea’s GS25 convenience store chain, is facing questions over its profitability after it posted contracted numbers in its earnings last year. According to its regulatory filing, GS Retail logged KW30.9 billion (US$28.4 million) in…
Many goods imported from the Republic of Korea (RoK) into Việt Nam will be exempted from import taxes in 2018, due to the Việt Nam-Korea Free Trade Agreement (VKFTA). The Government recently issued Decree No149/2017/NĐ-CP, which regulates a new special…
Singapore’s first global shopping platform EZbuy says it plans to almost double its product offering to 6 million items from brands and sellers in Korea, Taiwan and the US. It will bring on board a further 100,000 merchants by the end of the year. Its Korea…
Hyundai Motor unveiled on Tuesday a re-designed Santa Fe, hoping the first makeover of the sport utility vehicle (SUV) in six years will help rectify a sales slowdown at the South Korean automaker, especially in the key U.S. market. The revamped version of…
Shoppers in their 20s in South Korea have become more prone to spending big on luxury items and services, emerging as a new consumption trend, according to industry data. Mobile commerce company Tmon says the sales pattern over the past three months showed…
South Korea’s financial regulators set the pace for sweeping cryptocurrency regulations to curb speculative overheating and illegal activity, including banning foreigners and minors from opening new cryptocurrency accounts. Financial Services Commission Vice…
Shinsegae’s discount chain E-mart plans to enter the US by opening its premium food outlet PK Market. While mostly high-end products will be sold at the South Korean group’s outlet, some of its low-tier private brands such as No Brand and Peacock will also be…
French restaurant brand Lina’s Paris has opened a kiosk in the new terminal at Seoul’s Incheon Airport. Managed by the exclusive franchisee SPC, it is the brand’s 12th outlet in South Korea. Half the sales in the country are beverages, predominantly French…
A KitKat flagship store has been launched in Shinsegae’s Gangnam department store in South Korea. It has been opened by Swiss food giant Nestle’s Japanese unit, which has developed special flavours for the chocolate wafer snack in collaboration with chef…
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