The department store industry in Korea has set social distancing guidelines aside as companies launch aggressive marketing strategies to attract consumers.…
“Big three” retailers in Korea set plans on M&A
The so-called “big three” retailers in Korea ― Lotte Shopping, Shinsegae Group and Hyundai Department Store ― have been struggling to keep their customers who are rapidly moving to online …
South Korean government provides subsidies to businesses
Airlines, hotels and travel related businesses in South Korea will be subsidized by the government to sustain payroll over the next six months.…
Incheon International Airports’s duty free store auction fails to attract tenders
The bidding for duty-free store licenses at Incheon International Airport failed to attract tenders to fill all of the cosmetics and apparel sections for the first time, the airport operator said.…
Starbucks Korea temporarily shuts down multiple stores
Starbucks Korea may face a 1.91 billion won (US$1.59 million) loss after temporarily closing over half of its coffee chain.…
Korean tourism industry affected by Covid-19
Korean travel agencies are rolling back work hours and payroll as international travels have come to a standstill due to the spread of the new coronavirus.…
The Bank of Korea lowers its 2020 growth outlook
The Bank of Korea lowered its 2020 GDP growth forecast to 2.1 percent, as rising fears of the coronavirus epidemic heighten economic uncertainty in Korea.…
How is the retail industry in Korea?
With the growing number of one person households and working couples in Korea, changes in people’s spending patterns has brought about a new paradigm in the market place.…
Chinese tourists in Korea decline
Chinese inbound travel to South Korea fell by -72.8 percent year-on-year to 109,400 in the period 1-24 February 2020.…
Report on video watching in Korea
8 out of 10, or 81.2 percent, Koreans watch videos online, according to a ICT Ministry report, with about 73.7 percent watching them on a daily basis.…