Commerce Department
Scope
Date
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Earnings
Coupang’s Q2 profit soars to a record, driven by e-commerce
Coupang Inc., South Korea’s leading delivery service provider, on Wednesday posted an all-time high quarterly profit and revenue, driven by it...
Aug 09, 2023 (Gmt+09:00)
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E-commerce
SSG.Com announces global first launch of Piaget's new watch
SSG.COM, the e-commerce platform of South Korean retail heavyweight Shinsegae Inc., revealed on Tuesday its exclusive introduction of Swiss luxury b...
Aug 08, 2023 (Gmt+09:00)
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Retail
S.Korea's Lotte Department Store launches 'K-Beauty' tour service
South Korea's Lotte Department Store on Monday announced the launch of a "K-Beauty tour" service for foreign tourists.The company will first give fr...
Aug 07, 2023 (Gmt+09:00)
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Advertising & Marketing
Virtual human Lucy to sell Galaxy Z in live commerce
Lotte Home Shopping's virtual human Lucy expands her activities by selling The Galaxy Z Flip 5 and "Z Fold 5" on live commerce, following her attend...
Aug 04, 2023 (Gmt+09:00)
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Earnings
Naver posts record Q2 operating profit on e-commerce, content
South Korea’s top online portal Naver Corp. on Friday posted record operating profit in the second quarter, driven by robust sales growth in i...
Aug 04, 2023 (Gmt+09:00)
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Fashion
S.Korea sees fever for luxury goods wane in post-COVID-19 era
South Korea is seeing a gradual decline in the open run, or the practice of customers standing in line before a brand's opening at a department stor...
Aug 01, 2023 (Gmt+09:00)
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Artificial intelligence
Lotte's virtual human Lucy to debut in Thailand
South Korea's Lotte Home Shopping unveiled a plan on Wednesday to introduce its virtual influencer, Lucy, to Southeast Asia's burgeoning live commer...
Jul 26, 2023 (Gmt+09:00)
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Retail
Alibaba launches express ships to S.Korea as orders surge
Alibaba.com, China’s largest online marketplace, launched an express cargo ship service between South Korea and China this week to meet a surg...
Jul 20, 2023 (Gmt+09:00)
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Fashion
Lotte Department Store opens Louis Vuitton’s Take Over pop-up store
South Korea's Lotte Department Store announced on Friday that it operates a Louis Vuitton pop-up store in The Crown, located on the basement first...
Jul 14, 2023 (Gmt+09:00)
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Fashion
NHN Commerce acquires Italian luxury brands retailer Ikonic
NHN Commerce, South Korea's major online company NHN Corp.'s shopping platform, announced on Tuesday its acquisition of a 77.8% stake in Ikonic Srl,...
Jul 11, 2023 (Gmt+09:00)
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Corporate strategy
CJ CheilJedang simplifies organizational structure in global push
CJ CheilJedang Corp., the South Korean food giant with more than 200 operations worldwide, has streamlined its organizational structure to facilitat...
Jul 10, 2023 (Gmt+09:00)
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Beauty & Cosmetics
S.Korea's beauty platform Hwahae opens flagship store on TikTok
South Korea's mobile beauty platform Hwahae has opened a flagship store on TikTok (Chinese name Douyin). Hwahae's operator Birdview announced t...
Jun 30, 2023 (Gmt+09:00)
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Batteries
BlueOval SK secures $9.2 bn loan from US Department of Energy
BlueOval SK, the battery production joint venture between SK On Co. and Ford Motor Co., has provisionally secured up to $9.2 billion in policy suppo...
Jun 23, 2023 (Gmt+09:00)
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Regulations
3rd-gen. corporate succession in S.Korea slashes stake from 100% to 16%
South Korea's business sector is urging reform of the domestic inheritance tax system to alleviate problems in corporate succession, citing difficul...
Jun 22, 2023 (Gmt+09:00)
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E-commerce
Mounting deficits, time bomb for Korean e-commerce biz
Major South Korean e-commerce companies’ deficits have mounted to a level near their combined funds raised from investors, stoking fears that ...
May 30, 2023 (Gmt+09:00)
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Airlines
US antitrust body blocks $1.4 bn Korean Air-Asiana deal
Korean Air Lines Co. ’s acquisition of smaller domestic rival Asiana Airlines Inc. is poised to collapse after the US antitrust agency raised ...
May 22, 2023 (Gmt+09:00)
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Logistics
CJ Logistics to establish global distribution center in Saudi Arabia
South Korea's CJ Logistics unveiled plans on Thursday to construct a Global Distribution Center (GDC) in Saudi Arabia, a burgeoning logistics hub in...
May 11, 2023 (Gmt+09:00)
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Earnings
Coupang reports third profitable quarter in a row
South Korea’s Coupang Inc. on Wednesday reported three quarters of consecutive profits, calming investors' concerns about its cumulative ...
May 10, 2023 (Gmt+09:00)
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Retail
Chinese shoppers slash online purchases of Korean goods
Chinese shoppers have slashed online purchases of South Korean goods since the outbreak of the COVID-19 pandemic, tightening their wallets mostly on...
May 02, 2023 (Gmt+09:00)
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Korean startups
BIND wins D.Camp startup pitch race in April, co-sponsored by CJ
BIND Corp. was chosen by investors as the best of the best for its online fashion platform for middle-aged men during South Korea’s major star...
Apr 28, 2023 (Gmt+09:00)
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Retail
Kakao starts real-time commerce broadcast platform Partners Live
Companies entering South Korea's KakaoTalk Store can conduct "labang," a term combining the Korean words for "live" and "broadcasting," any time the...
Apr 28, 2023 (Gmt+09:00)
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Retail
Korean dept stores to lure foreigners with K-pop, festival
South Korean department stores are set to launch various programs such as a festival and sales of K-pop star merchandise to attract foreign tourists...
Apr 26, 2023 (Gmt+09:00)
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Retail
Shinsegae supports int'l expansion of S.Korea's promising fashion brands
South Korea's Shinsegae Department Store has launched activities to support the overseas expansion of up-and-coming domestic fashion brands. The com...
Apr 14, 2023 (Gmt+09:00)
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Retail
Lotte Department Store plans to open Line Friends pop-up store
South Korea's Lotte Department Store seeks to attract foreign tourists amid Golden Week holidays in Southeast Asia.Tourists from the region are expe...
Apr 13, 2023 (Gmt+09:00)
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Beauty & Cosmetics
S.Korea's NHN Commerce acquires domestic cosmetics brand WLab
South Korea's major online company NHN Corp.'s online shopping platform NHN Commerce announced on Tuesday that it has acquired domestic cosmetics br...
Apr 11, 2023 (Gmt+09:00)
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E-commerce
Singapore-based Qoo10 acquires South Korean e-tailer WeMakePrice
The Singapore-based e-commerce platform Qoo10 has acquired South Korea's online shopping site WeMakePrice, making Qoo10 fourth in domestic online co...
Apr 07, 2023 (Gmt+09:00)
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Korean SMEs
S.Korea’s Shinsegae, KOTRA to help domestic fashion firms for export
Shinsegae Department Store revealed on Friday that they will collaborate with the Korea Trade-Investment Promotion Agency (KOTRA) to assist domestic...
Mar 31, 2023 (Gmt+09:00)
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Retail
NHN Commerce chosen as imported goods supplier by China's Douyin
NHN Commerce, South Korea's e-commerce platform, announced on Monday that NHN Accommate, its Chinese subsidiary, has been chosen as a supplier of im...
Mar 28, 2023 (Gmt+09:00)
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Retail
S.Korea's mattress maker Zinus posts record domestic sales in 2022
Zinus Inc., the mattress-making affiliate of South Korea's Hyundai Department Store Group, on Monday reported record-high domestic sales last year o...
Mar 14, 2023 (Gmt+09:00)
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Korean startups
Carmerce raises $2.3 mn in Series A led by Hankook Tire
South Korea's used car e-commerce platform Carmerce has raised 3 billion won ($2.3 million) in a Series A funding round led by Hankook Tire & ...
Mar 02, 2023 (Gmt+09:00)