According to The Korea Times, Lotte Group will continue to expand investments into its e-commerce businesses, including urban air mobility (UAM) services and the Metaverse, despite its growing losses …
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Korea’s leading retailers rush to secondhand retail market
According to Pulse, the secondhand retail market in South Korea has emerged as a lucrative business for the country’s traditional retail and tech giants as demand for used goods has been on the …
Amorepacific to boost online sales in 2022
The Korea Times reported that AmorePacific, Korea’s beauty giant, will increase investments to boost its online sales and expand its reach in North America, in a bid to reduce its reliance on China an…
Retail sales rise over 11 percent in 2021 in Korea
Retail sales in South Korea rose 11.3 percent year-on-year in 2021 on the back of strong appetite for consumption and growing online transactions amid the prolonged COVID-19 pandemic, the industry min…
Digital platforms for secondhand trading emerge as new retail unicorns in Korea
Market valuation estimates of local digital platforms that promote individual trading of secondhand products have been on the rise with traditional retailers and even banks injecting large investments…
Korea’s convenience store chain CU opens 50th outlet in Malaysia
This January, CU, South Korea’s top convenience store chain, opened its 50th outlet in Malaysia as part of its overseas expansion.…
Korean fragrance market soars on pandemic blues
The market for fragrance products has seen an unprecedented expansion both in size and type of products, with more consumers, especially those in their 20s and 30s, opening their wallets for new olfac…
Amorepacific expands its wellness business
South Korea’s cosmetics giant Amorepacific Corp. is expanding its business portfolio to wellness and dietary supplementary products amid greater health-consciousness and inner beauty demand.…
South Korea’s retail sales up 14.4 percent in October
Retail sales in South Korea surged 14.4 percent in October from a year earlier as more consumers opened their wallets amid various promotional events and cold weather, the industry ministry said.…
Wine import soars in Korea
South Korea’s wine imports nearly doubled in the first eight months of 2021 from a year earlier as more people enjoyed drinking at home and alone amid the coronavirus pandemic, data showed.…