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The Korea Herald

Retail & Consumer

July 18, 2019
Lotte Duty Free, Shilla Duty Free among global top 5

Two South Korean duty-free operators have cemented their positions in the world’s top five travel retailers in 2018, an industry report showed on July 18. Lotte Duty Free maintained its second spot with 6.09 billion euros ($6.84 billion) in sales last year, due largely to the Chinese resellers...
July 17, 2019
Too Cool for School founders to unload stakes

The chief executive officers of South Korean cosmetics firm Too Cool for School have decided to sell their stakes, according to industry sources July 17. Shim Jin-ho and Jo Hye-shin, the two co-CEOs, respectively hold stakes in the company of 75.76 percent and 18.18 percent. Nomura Securities has ...
July 17, 2019
Duty-free sales hit record high in H1

Sales at South Korean duty-free stores hit a new half-year high, industry data showed July 17, on the back of the opening of new downtown shops and on-arrival duty-free shops here. The combined sales of local duty-free shops reached 11.66 trillion won ($9.90 billion) during the January-June per...
July 16, 2019
Cafe24 provides Vietnamese language service to online shopping platform operators

South Korean e-commerce platform builder cafe24 announced on July 16 that it has started providing Vietnamese language service to its online shopping platform operators. “The Vietnamese e-commerce market is growing fast. Also due to Hallyu, more Vietnamese customers are demanding Korean products,...
July 11, 2019
Cafe24 unveils AI-powered online store management

South Korea’s e-commerce platform builder cafe24 said on July 11 that it has launched an artificial intelligence-powered one-stop solution for online store management. Even those engaged in a one-person business can create and design a website, sell products online, catch up with the market tre...
July 09, 2019
Korea world’s No. 2 HNB tobacco market in 2018

South Korea was the world’s No. 2 heat-not-burn tobacco market last year, and its growth will gather pace down the road, an industry tracker said on July 9. The size of Korea’s HNB cigarette market reached $1.67 billion last year, rising sharply from $453 million tallied in 2017, according to...
July 09, 2019
Blue Bottle Coffee to add 2 more outlets in S. Korea

Blue Bottle Coffee said on July 9 that it will increase the number of its outlets in South Korea to four this year. The California-based coffee company advanced to Korea in May by opening its first store in Seongsu, eastern Seoul. It opened a second shop in Samcheong, central Seoul, last week. ...
July 03, 2019
Online shopping hits record high in May

The total value of online shopping in South Korea hit a record high in May, government data showed pn July 3, in the latest sign that a growing number of people are using computers and mobile devices to buy things ranging from clothes to electronic goods. Total online transactions reached 11.26...
July 03, 2019
Hyundai Home Shopping to advance into Australia

Hyundai Home Shopping Network said on July 3 that it will launch the business in Australia next month. The 24-hour shop-at-home television channel called Open Shop will officially launch on Aug. 1, offering products ranging from household products to fashion brands, officials said. It will ...
July 02, 2019
WGSN emphasizes market for disabled at 2020 Mega Trend seminar

Global trend forecasting agency World’s Global Style Network’s country director Lee Chang-wook on July 2 presented “sustainable value” as one of the key future trends during the 2020 Mega Trend seminar held in Seoul. In particular, he emphasized recognizing the importance of markets for con...
July 02, 2019
Coupang goes after LG H&H in supply feud

Korean e-commerce firm Coupang on July 1 unveiled the price list of products supplied by LG Household & Health Care , saying it was almost a third higher than the average of its other suppliers. According to the data that Coupang provided to lawmakers, LG H&H supplied its baby milk product Bebie...
June 28, 2019
Why Costco teamed up with Hyundai Card

Hyundai Card and Costco have become partners. As of May 24, customers have started to pay with their Hyundai credit cards at all of the 16 Costco stores and online mall in South Korea. “This is not just a partnership for payments, we plan on building a full-blown partnership to create synergies t...
June 27, 2019
Woongjin forced to resell Coway after just three months

Cash-strapped Woongjin Group announced on June 27 that it has decided to resell its stake in water purifier rental firm Woongjin Coway, which it just acquired in March this year. “We will sell Woongjin Coway within a year,” Woongjin said in a statement. “As a pioneer of the local rental busines...
June 27, 2019
Retail sales up in May, led by online malls

Retail sales in South Korea increased in May from a year earlier as online malls continued to attract more customers with faster delivery services and wider selections, data showed on June 27. The combined sales of 26 major offline and online retailers reached 11.43 trillion won ($9.87 billion)...
June 25, 2019
McDonald’s Korea fined over unfair biz practice

South Korea’s antitrust regulator said on June 25 that it has fined McDonald’s Korea 52 million won ($45,000) for violating the law on franchise business. McDonald’s Korea is accused of accepting franchise fees worth 544 million won from 22 prospective franchisees between September 2013 and ...

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