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Biz & Tech

Retail & Food

Sun, July 5, 2020 | 04:43

International luxury brands flourish while local labels perish

International luxury brands flourish while local labels perish

The prolonged COVID-19 pandemic has revealed the clear contrast between international luxury firms and domestic fashion companies. Despite price hikes of luxury brands, people formed queues in front of their boutiques while local labels are offering deep discounts but not many are interested.

Kim Jae-heun | 2020-07-03 17:01

Lotte Shopping to target Coupang, SSG.com and Market Kurly

Lotte Shopping to target Coupang, SSG.com and Market Kurly

Lotte Corporation's retailing affiliate Lotte Shopping is battling to survive in the market against competitors like Coupang, SSG.com and Market Kurly.

Kim Jae-heun | 2020-07-02 18:39

Orion issues apology over suicide at Iksan plant

Orion issues apology over suicide at Iksan plant

Domestic confectionery giant Orion Corporation issued a statement of apology Tuesday expressing condolence to the bereaved family of its employee surnamed Suh, who committed suicide at the company's factory in Iksan, North Jeolla Province, March 17.

Kim Jae-heun | 2020-07-02 18:35

Samsung Welstory to enter HMR market

Samsung Welstory to enter HMR market

Samsung Welstory said Wednesday it will launch LaLameals, a home meal replacement (HMR) brand, as an addition to its catering services and food ingredients businesses. This is the first time for the country's largest catering service firm to introduce “meal kits.” LaLameals adopts the concept of “convenient food with premium nutrition” and offers balanced meals made with vari...

Kim Jae-heun | 2020-07-01 17:17

Ministry, European firms join hands for Korean startups

Ministry, European firms join hands for Korean startups

Philips and L'Oreal will join efforts with the Ministry of SMEs and Startups to help Korean startups' growth and entry into overseas markets, the ministry said Wednesday.

Nam Hyun-woo | 2020-07-01 14:20

Coupang, Naver on alert as YouTube enters e-commerce market

Coupang, Naver on alert as YouTube enters e-commerce market

Competition in the local e-commerce market is expected to become much fiercer as two of its leaders Coupang and Naver are being threatened by the appearance of YouTube.

Kim Jae-heun | 2020-06-30 17:54

Green onion-flavored cereal: 'consumer-powered' product goes viral in Korea

Green onion-flavored cereal: 'consumer-powered' product goes viral in Korea

A wacky cereal is going viral in South Korea: a green onion-flavored limited edition of Chex.

Park Si-soo | 2020-06-30 16:50

KFTC drafts policy to prevent platform monopolies

KFTC drafts policy to prevent platform monopolies

The Korea Fair Trade Commission (KFTC) said it will submit a new law to prevent possible power abuse by online platform operators such as Woowa Brothers and Naver. The size and influence of online business here have increased because of the COVID-19 pandemic and the antitrust watchdog is seeking to enact legislation to prevent leaders in the field from monopolizing the market...

Kim Jae-heun | 2020-06-29 17:48

COVID-19 spread at logistics center troubles retailers

COVID-19 spread at logistics center troubles retailers

Shinsegae's convenience store brand Emart24 has fallen victim to the COVID-19 spread, with a 20-something worker testing positive at its logistic center late on Friday night.

Kim Jae-heun | 2020-06-28 17:50

Luckin Coffee board moves to oust chairman

Luckin Coffee board moves to oust chairman

Luckin Coffee said Friday its board had proposed to remove Chairman Charles Zhengyao Lu following an internal investigation into the fabrication of the embattled coffee chain's annual sales numbers.

2020-06-27 12:40

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