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July 11, 2022
Retail giants race to build shopping complex in Gwangju
Lotte, Shinsegae and Hyundai, the three retail giants of South Korea, are scrambling to be the first to build a new mega shopping complex in the southwestern city of Gwangju, one of the key campaign ...ites for a new shopping mall in Gwangju. Among the three retail gia...
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June 30, 2022
Duty-free shops open cross-border sales to secure overseas consumers
...seas, as they are losing price advantage to local clients due to high won-dollar exchange rates. Lotte Duty Free opened the overseas shipping service on Wednesday, which sells around 220 kinds of pro...and customs management. With Cainiao, Shilla Duty Free is poised to launch an onlin...
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June 08, 2022
Duty-free shops see customers return as tourism normalizes
...ery as a growing number of group tours are booked, industry sources said Tuesday. According to a Lotte Duty Free official, some 150 tourists from Malaysia shopped at the Myeong-dong branch for an hou...well,” the official said. Some 170 Thai tourists flew in on Monday to Jeju Island ...
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May 27, 2022
Convenience stores frequented by more men than women: data
...imes, 3.6 times and 3.4 times, respectively. Men were found to have spent more than women when shopping at a convenience store, with men in their 20s leading the race again at 71,000 won ($55) a mont... for a bigger share of the total revenues of the entire retail industry than major s...
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May 25, 2022
Lotte Group to inject W38tr for health, mobility and more shopping malls
South Korean retail giant Lotte Group said Tuesday it is poised to inject 38 trillion won ($30 billion) over the next five years in the new growth-engine sectors -- health and wellness, mobility, and...tnam and Japan. For retail business, the group will spend 8.1 trillion won in construc...
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April 20, 2022
Large retailers enter e-commerce market for designer goods
...as existing online platforms are struggling to beat a counterfeit luxury goods scandal. Online shopping outlets for designer brands such as Mustit, Balaan and Trenbe have enjoyed a boom in Korea by o...ital warranty system using NFTs to prove that brand-name products sold on ssg.com ar...
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April 19, 2022
Retailers hope for sales recovery as social dstancing rules removed
...al said. Department stores are gearing up to start in-person events that customers can enjoy. A Lotte Department Store official said it will put on small in-store concerts, which have been temporari..., convenience stores and other offline retailers have reported expectations of a reb...
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March 23, 2022
5 S. Korean CEOs earned more than W10b in 2021: data
...ercising stock options, according to CEO Score. He sold 121,908 shares in SKC at a price of 199,000 per share, raking in a combined 19.2 billion won. His base salary was 1.6 billion won last year. Lotte Group Chairman Shin Dong-bin followed, receiving a combined 15 billion won from hol...
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February 17, 2022
Corporate donations exceed W40b for Korean athletes at Beijing Olympics: FKI
...ea Ski Association receiving the largest amount of 12.64 billion won from 22 companies, including Lotte Group and Shinhan Financial Group. The Korea Ice Hockey Association was given 9.63 billion won ...of Team Korea, also received donations worth 3 billion won from 10 companies, includ...
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February 09, 2022
Korean Air adopts palm ID checks for domestic flights
...nal Airports, palm vein identity verification scanners have been used at unmanned check-in points for 14 domestic routes, without having passengers hand in separate ID. Korean credit card operator Lotte Card has operated its Hand Pay service since 2017, which allows identity verificati...
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February 09, 2022
Chanel joins Louis Vuitton in leaving duty free shops in Korea
...wn duty free shops outside Seoul that had Chanel. Louis Vuitton stopped running its store at the Lotte duty free shop in Jeju from Jan. 1, and is scheduled to close all of its six downtown duty free ...than 50 percent last year, compared to 2020. In addition to the fact that...
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February 03, 2022
Convenience stores outrank supermarkets in market share
...arket share outgrew that of local supermarkets for the first time, amid the fast-growing trend to shop in less crowded places due to the coronavirus pandemic, data showed Wednesday. According to data... -- GS25, CU and 7-Eleven -- came to 30.7 percent last year, following three departm...
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January 26, 2022
Korean retailers jump into NFT craze
...h some 20 NFTs priced at 1.5 million won ($1,260) apiece, the artwork sold out in mere seconds. Next month, the firm also plans to sell another NFT painting artwork using artificial intelligence. Lotte Home Shopping recently announced that in April it will launch an NFT mark...
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January 24, 2022
7-Eleven to provide AI data for potential franchise owners
The convenience store chain 7-Eleven of Korea’s retail giant Lotte Group said Friday it joined hands with Oasis Business, startup solution platform, to develop an Artificial Intelligence solution to ...he AI-analyzed data includes the number of the floating population, sales figures of a...
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January 12, 2022
Digital platforms for secondhand trading emerge as new retail unicorns
...hinhan Card, is planning to launch a service targeting “MZ generation” -- those born between 1980 and 2000 -- who are the key consumers in the secondhand trading market, according to the official. Lotte Shopping, which controls Lotte Group’s retail business, inve...
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January 11, 2022
[NCSI] Samsung Fire & Marine, Lotte Homeshopping, Korea Post, Yakult gain customer satisfaction
...o been at the forefront of the government agency‘s efforts to serve the public interest. One such commitment involves supporting local farms, retailers and small businesses through its Korea Post Shopping platform, an online store dedicated to promoting local food producers and connect...
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December 22, 2021
Virtual model Lucy set to debut as Lotte Shopping show host
...where: They promote products on social media, appear on billboard ads and now host infomercials. Lotte Home Shopping said Dec. 21 its virtual model Lucy will make her television debut as a show host ...uman-like Lucy not only on our existing platforms like TV and mobile, but ...
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December 21, 2021
Louis Vuitton out, as duty-free suffers
...stores, a figure that has been unchanged for 43 years. The limit was intended to promote modest shopping in the past when the government restricted locals from traveling abroad. Of the $5,000, only $...s bought on average $1,375 of duty-free goods when the government temporarily allowe...
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December 09, 2021
[Herald Interview] Seoul Business Agency to guide digital transformation of small firms
...nces and seminars to discuss global trade trends and strategies. Dec. 8‘s sessions featured Song Jae-hoon, director of Naver Live Commerce and Jin Ho, director of the digital transformation team at Lotte Home Shopping. Trade Week also includes live commerce shows and launchi...
November 24, 2024
