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Korean retail giants Lotte and Shinsegae are competing to improve employment conditions for women. The two companies are pushing forward with efforts to provide more opportunities for women to move up in their corporate hierarchies and implementing…
South Korea’s largest discount chain E-mart has committed to invest $200 million in Vietnam, continuing the trend of foreign investors entering the Southeast Asian nation’s rapidly growing consumer sector. A memorandum of understanding between E-mart and…
A prolonged heat wave in South Korea is boosting sales of local retailers, cafes, hotels and theaters as people flock to those air-conditioned places to get relief, industry sources said Tuesday. The entire country has been hit by the scorching weather for…
The leading retailers in Korea are seeking to cash in on the global popularity of hallyu by sealing strategic tie-ups with entertainment companies to sell exclusive merchandise. Products bearing the images of popular K-pop artists and actors have largely been…
Korea retail sales rose in June according to government data measuring major department stores and discount chains. The government said the year-on-year increase was fuelled by more holidays. The combined sales of three department stores – Hyundai, Lotte and…
South Korean retailers are capitalizing on the explosive popularity of Nintendo’s augmented-reality mobile game “Pokémon Go” with new products and services targeting local Pokémon game enthusiasts and fans. From a sudden rise in consumer spending at select…
The Go Vap district near Tan Son Nhat International Airport and part of Ho Chi Minh City in Vietnam are widely known as special to the Korean retail industry. This is because despite the fact that there are not many Koreans residing in the area, Korean retail…
Hypermarkets, which offer a wide range of products under one roof, once prospered in Korea. Recently, however, sales growth has stagnated with a rapid change in consumer behavior. According to industry watchers, hypermarkets in Korea anticipated high growth…
“We should catch up to Coupang, accepting the risk of financial loss,” said Chung Yong-Jin, vice chairman of Shinsegae Group. “Coupang is taking away our customers in their 20s and 30s. Why are we just sitting on our hands and leisurely watching the exodus?”…
Shinsegae Group says it will invest 4.1 trillion won ($3.4 billion) this year and hire 14,400 new staff to expand its retail business and revitalise the “sagging domestic economy”. “The overall retail sector has been struggling to deal with continued sluggish…
South Korea plans to unveil a new index tracing online retail prices this year by using big data from private sector to reflect actual economic sentiment, according to Statistics Korea on Tuesday. The state-run agency plans to release an online price index…
Standard Chartered Bank Korea plans to invest 10 billion won ($8.24 million) in its wealth management, aiming to double the size of operations over the next five years, a top company executive said Thursday. “We have set a target of 100 percent growth in the…
As a first step in a Southeast Asian rollout, Korean discount store E-Mart has opened its first outlet in Vietnam. It goes head-to-head with rival Korean chain, Lotte Mart, which has been in Vietnam since 2011 and now has 11 stores. The E-Mart Vietnam launch…
E-Mart said Monday it has opened its first outlet in Vietnam, with aims to expand its presence across the Southeast Asian region in the years to come. The discount store chain operated by Korea’s retail giant Shinsegae will be competing with Lotte Mart, which…
Shinsegae Department Store is set to launch a new smartphone app that offers online and offline shoppers e-receipts with extras. While the electronic receipt app avoids the hassle of scraps of paper receipts, it can also provide discount coupons and make it…
South Korea’s largest discount supermarket operator E-mart says it is recommitting to the China market and will stop closing stores there. E-Mart once operated 27 discount grocery stores in the mainland, but for the last five years has been constantly…
