Reporting and analysis on retail, e-commerce, and consumer trends in Korea, updated continuously by our newsroom.
Lotte Duty Free, Hyundai Duty Free and Shinsegae DF have snatched licenses for new duty free shops in Seoul, showing that retail specialists will have the upper hand over non-retail firms struggling in the market. However, the big three firms still have to…
The pending talks with South Korea follow similar dialogues the UK has opened with Australia, China, the Gulf Cooperation Council, India, New Zealand and Norway London: The UK and South Korea are set to to begin regular trade talks, with luxury brands a…
December 18 will mark the second anniversary of Ikea Korea’s launch. According to Ikea’s Swedish head office, its Korean operations have been a success so far. Annual turnover for the 2016 fiscal year to August 2016 was 345 billion won (US$292.3 million),…
The Korea Customs Service will begin evaluations for the much coveted duty-free licenses today, and the winners will be announced Saturday. Despite the political scandal surrounding the process, five bidders have been competitively releasing their plans for…
At only two years old, Korean-based label Blanc & Eclare has decided on New York City for its first North American venture. Launched by Korean pop superstar Jessica Jung, the label will open in a brick-façade store along SoHo’s Spring Street Jung left the…
Huawei announced it has been selected as an official network equipment supplier for the 2018 Winter Olympic and Paralympic Games in PyeongChang. As an official supplier, Huawei will deliver a comprehensive network system covering a games, administration and…
Apple Korea is going head on to Samsung on its home turf, on target to sell 2.9 million iPhones in South Korea this year, giving it a market share of about 15 per cent. At the end of last month it had sold 2.6 million iPhones, and is forecasting improved…
Ahead of this Saturday’s highly anticipated downtown duty free license awards in Seoul, South Korea, Lotte Duty Free has promised to invest Won2.3 trillion ($1.97bn) on tourist-related investments in the upmarket Gangnam quarter of Seoul between 2017 to 2021.…
Korean fashion retailer The Twee will open its first Southeast Asia flagship store at the new KL Gateway Mall in Kuala Lumpur. Set to open on January 12, the mall is part of the KL Gateway mixed development by Suez Capital in Bangsar South, Jalan Kerinchi.…
South Korea’s Hyundai Department Store is buying trading company SK Networks’ fashion business for KRW326.1 billion (US$284 million). When the purchase is complete, probably by February, SK Networks (SKN) will no longer have interests in the fashion industry.…
Apple Korea is forecast to post improved results for the year, with its operating profit reaching more than KRW800 billion ($684 million) on revenue of KRW3 trillion. The vendor is expected to sell 2.9 million iPhones in South Korea this year, giving it a…
South Korea’ finance ministry said on Thursday it is concerned about further risks to the economy from “domestic issues”, as parliament prepares to hold an impeachment vote on South Korean President Park Geun-hye. The ministry did not explicitly point to the…
McDonald’s has downsized plans to sell parts of its Asia franchise after failing to find a suitable buyer in South Korea. The world’s largest fast-food retailer has a stringent list of terms for the deal, including keeping management and existing suppliers in…
Kering CEO Francois-Henri Pinault came to Korea, Wednesday, to meet owners and CEOs of retail giants here, according to industry sources. Kering, which changed its name from PPR in 2013, is the French luxury goods holding company owner of more than 20 luxury…
DJI, the world leader in unmanned aerial technology, Monday launched its Xmas Promotion featuring price reductions, free accessories with purchases and special holiday gifts. Whether you are a content creator looking for the best stabilized handheld camera…
Shinsegae Duty Free has launched Han Soo, an open space where visitors can experience and buy Korean traditional handcrafted items, at Mesa Building mall in Seoul’s shopping district of Myeongdong. The 1016 sqm store displays products made by dozens of…
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