Reporting and analysis on retail, e-commerce, and consumer trends in Korea, updated continuously by our newsroom.
South Korean Rental services, which in the past were typically limited to water purifiers or bidets in South Korea, are rapidly embracing other products. According to big data analysis firm Daumsoft, online mentions of “rental service” on blogs and Twitter…
Working to displace competitors of US beef in the growing South Korean retail sector, USMEF used social media and a celebrity chef to showcase US beef ribeye, striploin and chuck flap tail during a “grocerant” promotion. The event was held at PK Market, a…
Bank Indonesia (BI) and the Bank of Korea signed a bilateral currency swap arrangement (BCSA). Through the deal, both central banks will be able to swap currencies for a value of KRW 10.7 trillion or Rp115 trillion. The agreement was signed by BI governor…
They include YG Entertainment, which manages many of Korea’s biggest stars like Big Bang, 2NE1, PSY, Epik High, Choi Ji Woo, Black Pink and Lee Jong Suk, its subsidiary YGKplus, the country’s leading modelling agency, and Naver.com, the country’s biggest…
Eurazeo Capital portfolio company Fintrax Group has formed a joint-venture (JV) with The Lotte Group subsidiary Lotte Data Communications Corporation (LDCC). Fintrax will join Lotte as shareholding partners in CubeRefund, an existing refund operator in Korea…
The latest hype in Korea has been over the Adidas Yeezy Boost 350 v2 “Zebra,” co-designed by American rapper and producer Kanye West. This extremely limited edition pair of shoes sold for a retail price of 289,000 won ($255.75), but they now cost somewhere…
Sales at a Shake Shack Korea store are the highest of any store worldwide. Just seven months after the chain launched in Korea, Shake Shack’s 13th international market, the Gangnam branch has outstripped some 120 branches outside the US. It sells 3000 to 3500…
Major South Korean retailers saw their sales soar in January from a year earlier, driven by convenience stores and supermarket chains, government data shows. Combined sales for department stores, large outlets and online malls gained 8.3 per cent for the…
South Korean conglomerate Lotte is to build a second Hanoi mall. It will be in a 200,000 sqm complex near West Lake in the Vietnamese capital, The Korea Heraldreports. Included in the mall will be a department store, supermarket and a cinema, all to be…
Starbucks Korea is killing two birds with one stone – improving sales by making customers happier. According to the coffeemaker, the number of participants on its mobile survey platform “My Starbucks Review” has exceeded 1 million. Surveys are offered to…
London-based consultancy JHP Design has created a fast-dining experience for Asian fast-food restaurant group Lotteria. The new concept, called the Lotteria Burger Laboratory, features an open kitchen combined with a made-to-order system, so customers can…
Make-up products accounted for more than half of the annual sales at duty-free shops in South Korea last year, fueled by brisk demand from foreign tourists immersed in Korean entertainment culture. Fresh data from the Korea Customs Service and companies…
Lotte Duty Free has reported a 26 per cent increase in turnover to W5.9 trillion (US$5.1 billion) for last year. The figures are believed to excludes sales from its overseas airport and downtown outlets (Guam, Indonesia, Tokyo), reports DFNI Online. For 2015,…
Philippine-headquartered quick-service restaurant chain Jollibee Foods income jumped 24.6 per cent to 6.14 billion pesos (US$123.26 million) last year, thanks to aggressive store openings. Jollibee says it opened 340 outlets across nine brands – its biggest…
Williams-Sonoma South Korea will launch in Spring after the US homewares brand appointed a local partner. Hyundai Livart Furniture, a leading Korean furniture manufacturer and distributor and an affiliate of Hyundai Department Store Group, will have exclusive…
US-based Williams-Sonoma, the business behind furniture brand West Elm, has confirmed that it has agreed a new franchise partner with Hyundai Livart Furniture Co. Ltd, expanding its South Korean presence. Hyundai Livart, a Korean furniture manufacturer and…
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