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Reporter : Kim Jae-heun
Thu, March 23, 2023 | 09:54
Balaan accounts for nearly half of all online luxury goods sales in Korea
Balaan said Tuesday it racked up 680 billion won ($513.4 million) in transactions last year, up sharply from 315 billion won in 2021, as more people purchased luxury bags and other high-end items through the online platform. Given the fact that the scale of the domestic online luxury market reached 1.5 trillion won in 2022, nearly five out of every 10 luxury items ordered on ...
Convenience stores to enhance welfare benefits for part-time workers
Local convenience stores are increasing welfare benefits for young part-time workers to convince them to become future franchisees. Retailers came to realize that if they raise the job satisfaction level of young employees by instilling positive perceptions of the convenience store business and boost their confidence that they can earn a stable income from it, then it will in...
Home shopping firms fail to find breakthrough amid falling TV viewership
Local home shopping companies are struggling amid falling TV viewership as more people buy goods online, according to industry officials Friday. The emergence of e-commerce companies and increasing transmission fees paid to broadcasting operators are also adding to home-shopping channels' financial burden.
Naver urged to clamp down on fake fashion goods
Musinsa, Korea's largest fashion goods sales platform, and the Korea Brand Fashion Association consisting of 50 small fashion brands are calling on Naver to clamp down on sales of fake goods on its open market, according to industry officials Friday. The latest calls are coming from Musinsa, Korea's largest fashion goods sales platform, as well as affiliated small brands work...
Convenience stores enjoy brisk sales of winter snacks
Convenience stores are enjoying brisk sales of various winter snacks amid the continued cold weather, according to industry officials Thursday. They say men's favorite choices are steamed buns and fish cakes, while women favor baked sweet potatoes.
Hyundai Construction Equipment sets up Asian base in Indonesia
Hyundai Construction Equipment's (Hyundai CE) intermediate holding firm Hyundai Genuine will focus on fostering its construction business in Indonesia to make it a regional hub in order to target the Asian market, the company said Wednesday.
HiteJinro caught illegally replacing soju bottle labels
HiteJinro, a major soju and beer producer, was found to have replaced labels on its soju bottles to mislead consumers, according to industry officials, Wednesday.Bottles of its Jinro Soju brand, with an average alcohol content of 16.5 percent, were found to bear labels claiming they were its Zero Sugar brand, which is newer and more popular, with an alcohol content of 16 perc...
LG CNS launches mobile crowd research service
LG CNS has launched a crowd research community platform called Quinoa, the company said Wednesday. Anyone can easily create, check and share surveys on mobile devices with Quinoa and the information is accessible to all customers, from those who want to get people's opinions on general daily questions to corporate managers who want to find new business insights.
BAT Rothmans releases glo Hyper X2
Global tobacco company BAT Rothmans introduced the glo Hyper X2, a new heat-not-burn (hnb) device, to compete against KT&G's lil and Philip Morris' IQOS products, the company said Wednesday. It has been nearly a year and a half since the firm first introduced glo Pro Slim in Korea in October 2021.
Nongshim's heavy dependence on Shin Ramyun raises concerns
Concerns are growing over Nongshim's growing reliance on sales of instant noodles - especially its all-time bestselling Shin Ramyun, which accounts 40 percent of the company's overall instant noodle sales - according to industry officials Monday. The company has strengthened its overseas business to continue its growth, but there has not been noticeable progress in other busi...
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