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Korean department stores have become the new battleground for Korean restaurant chains. Restaurants have long been a lucrative business for department store operators – accommodating hundreds of weary shoppers every day, they have sometimes been referred to…
Singapore’s sovereign wealth fund GIC and Korean department store Shinsegae are partnering to develop a prime retail mall in the Incheon Free Economic Zone (IFEZ). Working through affiliates, the companies have signed a US$197 million sale-and-purchase…
For the first time since opening 31 years ago, Korean retail giant Hyundai Department Store is renewing its brand identity and simplifying its name to “The Hyundai”. Starting with its Apgujeong flagship store this month, the group is changing the exterior of…
Annual sales at South Korea’s top department and discount stores in January were seen rebounding from the previous month, finance ministry estimates showed on Friday, backing recent policymaker comments that consumption is steadily recovering. Combined sales…
South Korean department stores will start offering instant tax refund services to foreign customers from this month as part of an effort to boost sales. Under the new program, foreigners can buy products without paying the mandatory 10 per cent value-added…
Sales at South Korea’s top department stores snapped three months of rises in December and marked their biggest annual fall in four months due to warmer weather compared with the previous year, government figures showed on Wednesday. Combined sales at…
Preliminary data from leading department and discount stores in October reveals South Korean retail sales are recovering post-Mers. Combined sales last month at department stores run by Hyundai Department Store, Lotte Shopping and Shinsegae Co jumped 17.4 per…
More and more specialised retailers or service providers – ranging from barbershops to paint stores – are making appearances inside Korean department stores. These special shops are appearing as pop up stores rather than taking up permanent residence. The…
South Korea’s retail and tourism industries are preparing a slew of promotional and cultural events to woo back Chinese tourists during a long-haul holiday season, pinning their hopes on making up for a summer slump in the wake of a viral respiratory illness,…
Ski and sportswear brand Spyder has launched in South Korea with an all-new product line available in freestanding stores and shop-in-shops. An accelerated retail rollout is planned with 25 stores opening across the country by the end of 2015. “We are excited…
Korea is becoming a major destination for young Chinese couples looking to splurge on expensive items for their upcoming marriages. Chen Yi, 34, and Chai Xuefang, 30, who recently visited Seoul from Shandong province, China, are typical of the growing number…
KKR and Carlyle, the US private equity firms, have been invited to bid for the Asian business, which trades as Homeplus, while London-based CVC Capital Partners has also been asked to bid. The decision to sell the South Korean stores comes as the retail…
Tesco’s obvious technique to attract out bidders for its Korean Homeplus operation is already paying off. Whereas personal fairness gamers have been apparently despatched invites to bid, the best way the information of the as but formally unconfirmed sale…
Korea’s Hyundai Division Retailer will reveal a 490 million gained (US$453,500) Swiss luxurious watch this month. The shop is holding a luxurious watch exhibition at its Commerce Middle till Might 18 and at Apgujeong department till Might 18. The entire worth…
