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Biz & Tech

Retail & Food

Sat, September 18, 2021 | 17:11

Korean consumers fascinated by expensive, unconventional fruit

Fruits that come with high price tags are flying off the shelves, prompting farmers to switch to these new crops, as they purport to bring higher incomes. According to Shinsegae Department Store, orders for its Chuseok holiday gift box comprising apple mangos and Shine Muscat grapes increased by 27 percent compared with the previous year, surpassing by far the 4.7 percent gro...

2021-09-18 09:37

SoftBank's Vision Fund sold 57 mil. Coupang shares

SoftBank Group's Vision Fund sold 57 million shares in Korean e-retailer Coupang Inc for about $1.69 billion, according to a U.S. regulatory filing.

2021-09-17 19:33

EBay Korea sales surge from int'l Chuseok discount promotion

EBay Korea offered the latest installation of its annual Mega G Festival sale for global customers from Sept. 1 to 14. This year, eBay Korea saw its home appliance and furniture sales surge a record 110 percent compared to 2020. Revenue from book and music sales during the Mega G promotion period also surged over 30 percent compared to last year.

2021-09-16 16:25

Lotte Shopping losing digital experts at crucial time

A growing number of IT experts at Lotte, who have been leading the group's retail unit, are leaving the company at a crucial time of business expansion.

2021-09-14 16:50

Lotte to acquire Hanssem with IMM PE

Lotte Group's retail unit, Lotte Shopping, has been selected as the de-facto strategic investor to acquire Hanssem, together with local private equity fund (PEF) IMM PE.

2021-09-10 16:50

KGC to strengthen ginseng product quality inspections

The Korea Ginseng Corporation (KGC) has increased the scope of its safety inspections to strengthen product quality. Previously, the corporation conducted safety inspections on 293 items, which it increased by 139 to 432. This will be applied to 9,490 ginseng fields in the country covering a total 4,290 hectares.

2021-09-09 15:42

COVID-19 Delta variant to affect credit rating of local retailers

The spread of the Delta variant of COVID-19 is concerning local retailers, as there are high possibilities of seeing a downgrade to their credit ratings, which could eventually affect their planned loan financing.

2021-09-07 16:45

Kurly's open market service may hurt product quality

Investors are voicing doubts over the feasibility of Market Kurly's move to introduce a planned open market service. They fear the service may hurt the quality of foods the online grocery service plans to deliver to customers.

2021-09-07 15:49

Rolex watches become hot investment

Rolex watches have become a hot investment item in Korea, as it is getting harder and harder to find the luxury watches, due to restricted supply coupled with soaring demand.

2021-09-06 17:01

China's entertainment regulations to affect YG, SM, JYP

The Chinese government's attempts to regulate its entertainment sector will affect the K-pop industry, because China is the top source of revenue for Korea's leading entertainment agencies.

2021-09-06 08:47

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