Korea

Coupang narrows loss to  $75m in Q2 

This improved from the $518m loss in the same quarter last year.

Homeplus fined $2m for passing promotion costs to suppliers

Its supermarket unit had made its suppliers shoulder costs worth $1.42m.

South Korean retailers cut back on promotions

Department stores and malls have shut down promotional events due to quarantine protocols.

South Korea’s Shilla Duty Free to expand in China

It will set up a joint venture with Hainan Tourism Duty Free City.

Men’s luxury retail stores on the rise in South Korea

Luxury brands and department stores alike are driving the trend.

Meat alternatives surge for South Korea’s food industry

More non-vegetarians are seeking out alternative meat.

South Korean retailers compete for quicker delivery

Some are introducing, expanding, or shortening their quick delivery services.

Seoul orders COVID-19 tests for department store staff

Department stores in the capital have recently become hotbeds of infection.

South Korea’s retailers brace for summer heat

Some have upgraded their cold-chain logistics system.

Shinsegae and Lotte backs out from Yogiyo takeover

This leaves private equity funds competing for the food delivery app.

Naver backs out of eBay Korea acquisition bid

This leaves Shinsegae as the sole bidder for the e-commerce firm.

Fire engulfs Coupang warehouse

Public outcry sparked following the death of a firefighter.

Shinsegae to acquire 80% stake in E-Mart for $3.05b

It will invest over $884.36m (KRW1t) over the next four years in warehouses.

South Korea’s bakeries rapidly expands to foreign markets

For instance, Tous Les Jours is selling two to three times more than competitors.

South Korea’s TV commerce firms foray into live broadcast

The country’s live commerce market has been growing at a rapid pace.