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Tech-enabled coffee chain Flash Coffee has raised US$15 million in its Series A funding led by White Star Capital, aiming to launch 300 stores this year. The Series A round sets the total capital raised by Flash Coffee to US$20 million. Investors include…
In South Korea, some of the world’s biggest food delivery firms are scrambling to surf an estimated $4 billion wave of new orders, contracting thousands of new riders in a boom triggered by the scourge of the global economy – the coronavirus pandemic. Koreans…
Perfume sales in South Korea have gone up despite the suspension of perfume testing at department stores. Last December, South Korean retailers suspended all practices of testing cosmetic samples at offline vendors in accordance with government regulations,…
South Korea has launched an antitrust investigation into Google over its plans to enforce commission fees for in-app purchases made through its mobile application store, a top official said Thursday. The U.S. tech giant has come under intense scrutiny from…
Joining the market later than competitors, Baemin, a food delivery application of South Korean unicorn Woowa Brothers, concentrates on rider training and supporting food stores. Tuan, 28, from HCMC, is on his way to the headquarter of Baemin in District 3 to…
Department stores are undergoing renovations to attract the so-called MZ generation – encompassing the Millennials and Generation Z. After its first renovation in 11 years, Hyundai Department Store’s Jungdong branch reopened the ‘U-Plex’ Fashion House on…
South Korean duty-free retailers are temporarily shuttering metropolitan stores in response to a significant decline in tourist numbers caused by the coronavirus epidemic. Numerous outlets at prime tourist destination Jeju Island will be closed this month. A…
South Korean retail sales rose by 3.9 percent year on year during April. The nation’s retail industry in general has benefitted from increasing demand in the e-commerce sector brought on by changes in consumer behavior in the midst of the coronavirus…
South Korea is set to introduce disposable cup deposits at coffee shops and fast-food outlets, starting 2022, in its latest efforts to cut carbon emissions. Under a set of bills approved in Parliament this week, businesses will factor the deposits into prices…
Kurly, a South Korea-based grocery-delivery startup, has netted Series E funding totaling KRW200 billion (US$160 million). The funding round for the five-year-old company was led by DST Global, with additional participation from several existing backers –…
A second Starbucks community store has opened in South Korea. The new venue, located in Seongsudong, Seoul, is described by the company as a “hub for young people and prospective startups to share information about networking and starting their own…
French fashion house Louis Vuitton is raising prices for its luxury items in the South Korean market, allegedly in a bid to take advantage of a prospective surge in buying following the coronavirus outbreak. According to Pulse News Korea, the brand has raised…
Offline retailers in South Korea, once on the verge of a crisis after consumers flocked to e-commerce vendors following the coronavirus outbreak, are now seeing a chance to make a comeback. As people remain indoors for extended periods due to work-from-home…
GS Retail, which operates the South Korean convenience-store chain GS25, has reported a huge profit increase for this year’s first financial quarter, boosted by sales of pre-packed meal kits popular during the coronavirus lockdown. GS Retailreported a KRW88.8…
South Korean duty-free stores are electing to temporarily close for business as the coronavirus pandemic continues. With the continued idling of airport gateways, the industry has been hit particularly severely, with operators making tough decisions on…
South Korean AI-based fashion-tech firm Odd Concepts has raised US$6 million in Series B funding, taking the company’s accumulated investments to about US$10 million. The funding is expected to allow the business to expand its growth into Asia-Pacific…
