SEOUL, Jul. 10 (Korea Bizwire) – In a bid to capture the attention of younger consumers, South Korea’s home shopping industry is racing to produce short-form content, leveraging artificial intelligence to transform hour-long live broadcasts into bite-sized videos for mobile apps and YouTube. Leading the charge, Shinsegae Live Shopping announced on July 9 that it would [...]
SEOUL, Jul. 9 (Korea Bizwire) – Lotte Mall West Lake Hanoi, a massive commercial complex praised by Lotte Group Chairman Shin Dong-bin as a market-leading business model, has surpassed 200 billion won (approximately $150 million) in cumulative sales less than a year since its opening. The mall’s success is largely attributed to its innovative merchandising strategy, [...]
SEOUL, Jul. 8 (Korea Bizwire) – In a surprising turn of events, private label (PB) home appliances are making significant inroads into the South Korean market, traditionally dominated by major corporate brands. This trend, driven by cost-conscious consumers amid high inflation, is reshaping the landscape of the home appliance industry. A prime example of this shift [...]
SEOUL, Jul. 8 (Korea Bizwire) – As sweltering heat and monsoon rains intensify, convenience stores and supermarkets in South Korea are turning to home delivery services to capture customers reluctant to venture out in inclement weather. Convenience stores and corporate supermarkets, known for their proximity to residential areas — so close that Koreans joke about going [...]
SEOUL, Jul. 8 (Korea Bizwire) – In response to rising inflation, South Korean convenience store chains are increasingly turning to direct sourcing of overseas products to offer affordable options to budget-conscious consumers. According to industry reports, major convenience store chains including CU, GS25, 7-Eleven, and Emart24 are each introducing 20 to 50 directly sourced products annually. [...]
SEOUL, Jul. 5 (Korea Bizwire) – A recent report from the Organization for Economic Cooperation and Development (OECD) has disclosed that counterfeit products violating the intellectual property rights of South Korean firms total $9.7 billion each year, a staggering 1.5% of the nation’s overall exports. The study, commissioned by the Korean Intellectual Property Office (KIPO) and [...]
SEOUL, Jul. 5 (Korea Bizwire) – All consumer products tested for electromagnetic field (EMF) exposure in the first half of this year have met safety standards, according to a government report released on July 4. The Ministry of Science and ICT announced that 38 products across 13 categories were examined, with exposure levels ranging from 0.69% [...]
SEOUL, Jul. 4 (Korea Bizwire) – The South Korean TV home shopping industry is facing a severe downturn with broadcast revenue plummeting to a five-year low, reflecting the ongoing decline in television viewership. This slump comes amid rising transmission fees, further squeezing the industry’s profitability. According to a report released by the Korea TV Home Shopping [...]
SEOUL, Jul. 4 (Korea Bizwire) – A recent survey by the Korea Consumer Agency has found that while South Korean consumers highly appreciate the store environment and payment convenience of their local convenience stores, they are less satisfied with customer communication and promotional events. The agency released its findings on July 3, detailing consumer satisfaction and [...]
SEOUL, Jul. 3 (Korea Bizwire) — Alibaba.com, China’s largest online marketplace, said Wednesday it will open an exclusive website for South Korean companies in the second half, reflecting a growing demand from B2B buyers for Korean-made products. Korean products have been available at the Chinese platform, but there has been no such site that showcases [...]