Reporting and analysis on retail, e-commerce, and consumer trends in Korea, updated continuously by our newsroom.
Grocery shopping via online and mobile channels in Korea rose sharply in the first quarter from a year earlier, backed by robust demand for delivery services of fresh food amid a rise in the number of one-person households. The amount of transactions made for…
Lotte World Tower has drawn 126,000 daily visitors on average in April, becoming Korea’s newest tourist hotspot. The number is set to grow faster this month, as Lotte holds various events around the nation’s tallest skyscraper in Jamsil, southeastern Seoul,…
Hoping to capitalise on growing regional interest in South Korean pop culture, a Thai company opened a $275-million Korean-themed shopping mall and entertainment complex in Bangkok on Monday. The 180,000 square metre (1.9 million square feet) building targets…
State-run Korea Airports Corporation (KAC) is preparing to launch its first nationwide review of its airport duty free concession contracts and merchandise offer following two license awards last year. This is part of its long-term efforts to boost revenue…
Online Korean beauty shop Memebox was known for selling popular K-beauty products to the United States. However, the retailer revealed it will change its model from selling beauty products to focusing on educating consumers about Korean products through…
Amore Pacific‘s first-quarter net profit shrank 15 percent from a year earlier, due largely to a protracted slump in the domestic market amid a rapid drop in Chinese tourists. Its net income came to 223.5 billion won (US$197.1 million) in the January-March…
The renovated branch of Lotte Premium Outlets in this suburban city about 30 miles south of Seoul looks more like an amusement park than a shopping mall for bargain hunting. At its Incheon outlet location, Lotte has opened a three-story complex catering to…
South Korean carmaker Kia Motors Corp signed a deal on Thursday to invest about $1.1 billion to build its first factory in India, aiming to tap a fast growing market at a time when its China sales are sagging. The Hyundai Motor Co affiliate posted a 19…
Following Shinhan Vietnam’s successful acquisition of ANZ Vietnam’s retail business, fellow Korean banks have also expanded their sizes and market share in Vietnam, seizing the lead in the foreign bank race on the Vietnamese market. Shinhan getting stronger…
South Korea’s economy grew at a faster pace in the first quarter than three months earlier due to increased construction investment and exports, central bank data showed Thursday. In the January-March period, the country’s gross domestic product increased 0.9…
Food Capitals, Thailand’s franchisee for Domino’s Pizza and South Korean fried-chicken restaurant chain Kyochon, has acquired two companies for THB400 million (US$11.6 million) in a bid to expand both domestically and overseas. It has spent THB289 million to…
The Australian bank said it will focus on its institutional banking, its biggest business in the region. Australian lender ANZ has announced to sell its retail business in Vietnam to South Korea’s Shinhan to focus resources on institutional banking. The bank…
SK Telecom is teaming up with Bluebell Korea, a local subsidiary of luxury goods retailer Bluebell Group, as the mobile carrier seeks to step up on-demand services as part of its business expansion. The mobile carrier said Wednesday it signed a memorandum of…
At convenience stores across the country, customers paying with cash will have the option of depositing extra change into public transit cards or converting them to rewards points. The bank’s goal is to reduce the number of circulating coins, which costs an…
Footwear and apparel firm Woodland India plans to enter the Japanese and South Korean markets in the next 12 months. Owned by the Aero Group, the company is also expanding at home with plans to add 120 exclusive outlets across India by the end of next year.…
App-based ride service provider Uber Technologies says it is planning to launch its on-demand restaurant delivery service UberEats in South Korea. UberEats Korea will partner with restaurants, with ordering conducted on the company’s web site or with a…
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