South Korea - News & Analysis

29 April 2021
Homeplus, South Korea’s second largest hypermarket chain, has appointed Lee Jae-hoon, current CEO of Carver Korea, as its new CEO. Has decades of CEO experience His appointment came three months after the retailer's previous CEO Lim Il-soon resigned in January . Lee has decades of CEO experience leading various businesses, including KFC Korea, Pizza Hut Korea. " The newly appointe...
28 April 2021
Emart, the grocery retail chain owned by Shinsegae Group in South Korea, has announced that it would give customers “e-money”. It is Emart’s low price guarantee Emart recently announced that if customers have found the same products being sold elsewhere at a cheaper price, they will match the difference by giving customers online credit points known as e-money. The new policy applies to ...
27 April 2021
The country’s supermarket operators are launching new initiatives to better serve neighborhood needs. Retailers are strengthening supermarket offers in response to changes in consumer preferences Supermarkets had flat growth in 2020 (value down marginally by -0.1%YoY), whereas hypermarkets saw relatively large decline at -2.6%YoY. This is due to store closure as well as changes in consumer ...
20 April 2021
The convenience channel remains a great opportunity for growth. We have published a series of new reports for our IGD Retail Analysis subscribers: The convenience channel’s global outlook Global growth opportunities Multiformat retailers trading convenience stores Below are some of the key highlights to help you plan for the future... Use IGD’s view to drive change...
08 April 2021
Asia-based ecommerce platform Shopee intends to premiumise its beauty offerings, by increasing its focus on K-beauty brands.  Sales of Korean beauty continues to grow in Southeast Asia and Taiwan Korean beauty products remain as one of the top-selling products of Shopee.  The retailer has seen more shoppers searching and buying K-beauty brands on its platform, due to the popularity of K-pop c...
06 April 2021
The first CU convenience store has opened in Malaysia. South Korean retailer, BGF Retail signed a brand licensing deal with MyNews in October last year. Located in Centrepoint Bandar Utama, Petaling Jaya, Kuala Lumpur Source: CU Malaysia South Korean products account for 60% of all products Source: CU Malaysia The 165 sq m store sells popular Korean street food over t...
24 March 2021
The number of health and beauty (H&B) stores in South Korea dips for the first time as more consumers turned to online shopping. 31 stores closed in 2020 Olive Young, lalavla and LOHB’s are the country’s three major H&B retailers.  As of December 2020, they have a combined 1,484 stores, down by 31 from one year earlier. This is in contract to a steady store expansion in previous years: 1,...
19 March 2021
South Korean retail giant Shinsegae Group and technology behemoth Naver (Korea’s Google) are combining forces to gain a competitive edge in the fast changing ecommerce field. Signed a stock swap deal worth KRW250bn (US$221m) The two companies signed a strategic partnership agreement and a stock swap deal worth KRW250bn (US$221m) this week. “ We plan to establish a strong cooperation netw...
19 March 2021
eBay is to sell its business in South Korea. Big name players in retail are all in for a deal valued at KRW5 tn (US$4.42 bn). Four-way race for the acquisition Lotte Group, Emart Inc. (owned by Shinsegae), SK Telecom Co. and private equity firm MBK Partners have been chosen as the preliminary bidders to buy a controlling stake of eBay Korea. Kakao has decided to opt out of the bidding. ...
04 March 2021
Cho Young-je, head of the ecommerce unit at Lotte Shopping, resigned in February as the company’s online business fails to take off. “ Failed to create a synergy ” Lotte Shopping's gross merchandise value (GMV) stood at KRW7.6 tn in 2020, which is only 7% up from the previous year. It is below the market average of 19% year-on-year (YoY) increase. The GMV of its rival, Shinsegae, improved...