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E-commerce giant Coupang has maintained its grip on Korean consumers across every age group, data showed Wednesday, widening its lead even as Chinese platforms close in as its nearest challengers. According to data from WiseApp Retail, Coupang led all major shopping apps in monthly active users among Korean smartphone users across all age brackets in July. Users in their 40s made up its largest base, at 8.54 million, followed by their 20s and 30s in the 6 million range. Users in their 50s totale
Musinsa said Wednesday it would accelerate its expansion in Southeast Asia by opening its first offline stores in the Philippines, starting with a Musinsa Standard location in Manila this year. The expansion follows an exclusive distribution agreement signed July 17 with ACX Holdings, a distribution affiliate of Ayala Group, one of the Philippines' largest conglomerates. ACX Holdings manages the entry and operation of global brands in the Philippine market. Under the agreement, Musinsa will serv
South Korean cosmetics manufacturer Cosmax posted record revenue and profit this quarter, with its American business notching its first profit after achieving the steepest growth of any region. The company reported Tuesday that consolidated revenue for the April-June period rose 27 percent from a year earlier to 794.9 billion won ($560.8 million), while operating profit climbed 21 percent to 73.7 billion won. Both are record highs. For the first half, revenue totaled 1.48 trillion won and operat
Shinsegae said Tuesday it posted its strongest-ever first-half earnings this year as investments in its department stores and efforts to streamline its affiliates improved profitability across major businesses. The retail giant reported sales of 6.36 trillion won ($4.5 billion) for the January-to-June period, up 10.1 percent from a year earlier. Operating profit jumped 75.7 percent to 365 billion won with both figures reaching record highs. In the second quarter alone, Shinsegae logged 3.14 tril
South Korea's dawn delivery market has long belonged to a handful of e-commerce players, led by Coupang. Now some of the country's biggest players are muscling into the category. Most recently, Lotte Mart booted up its first automated fulfillment center in Busan. The 40,000-square-meter facility, built with British retail tech firm Ocado for roughly 200 billion won ($141 million), runs around the clock with robots and artificial intelligence managing inventory, selection, packing and delivery ac
South Korean fashion platform Musinsa said Tuesday it held its first global buying event for private label brand Musinsa Standard, courting overseas retailers ahead of its 2027 spring-summer collection. The three-day event, which ran Tuesday through Thursday, marked the brand's first time inviting international buyers to Seoul. It showcased merchandise while also previewing Musinsa Standard's marketing and design direction for next year. Attendees included representatives from Japanese fashion p
Lotte Mart unveiled its first automated customer fulfillment center in Busan on Friday, part of a 1 trillion won ($710.3 million) investment to upgrade its online grocery logistics operations. The four-story Zetta Smart Center Busan spans 40,000 square meters and can handle up to 35,000 products, automating operations from picking and receiving goods to packing and delivery. It will serve online orders across Busan and southeastern Korea, Lotte Mart said. The facility is the first in Korea to ad
In Korean beauty retail, Olive Young stands tallest, with 1,367 stores and counting, though that footprint buys no immunity from shifts in the industry. A new wave of beauty retailers has emerged in recent years, led largely by groups such as Shinsegae, Lotte and Musinsa, each operating curated multi-brand stores with its own spin. Yet rising alongside them is another kind of retailer that tilts away from the familiar formula toward its own draw, whether price or medical credibility. At the bud
Lotte Global Logistics said Monday it was expanding its transportation business for battery energy storage systems produced by LG Energy Solution in the United States, strengthening its foothold in the high-value special cargo logistics market. LG Energy Solution currently assembles and produces battery energy storage systems at its plant in Phoenix, Arizona. Lotte Global Logistics began transporting LG Energy Solution's battery ESS to customers across the US in the first half of this year. Sta
Korea's budget coffee chains, built on affordability and accessibility, may be pushing the market to saturation, and rising bean prices and currency pressure are squeezing margins further. Instead, the chains are betting on markets abroad, leaning on Korean identity as their edge, especially as interest in K-food and other content keeps rising. This month has already brought a string of openings abroad, each a day apart. Ediya Coffee opened its first store in Laos on Saturday through a master fr
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