Brand value rankings of companies in South Korea are facing an upheaval as the COVID-19 crisis is greatly influencing the consumption patterns.…
Korea reports low number of air passengers in March
South Korea saw a record-low number of air passengers in March due to the novel coronavirus pandemic.…
Mini Ikea store to open in Korea
A miniature Ikea store is slated to open later this month in Eastern Seoul, as Hyundai Department Store joins an industry trend of increased focus on home furnishings.…
Korean duty free announces February sales report
South Korea’s duty free sales were nearly halved in February as air travel came to a stop amid the surge of coronavirus cases in the country.…
Department stores in Korea launch new marketing strategies
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 Korea airport announces rent deferral
The Korean Ministry of Land, Infrastructure and Transport is to allow airport commercial partners to defer rent payments from March till May.…
How are the Korean companies doing in Europe and US?
Some of Korea’s leading companies are facing a potential crisis due to the COVID-19 outbreak spreading throughout Europe and the US.…
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.…
Hotel Lotte IPO boosted by Shin Dong-bin
The prospects of an early IPO for Hotel Lotte boosted sharply after Lotte Group Chairman Shin Dong-bin was appointed as Chairman of Lotte Holdings of Japan.…