Tag: Korea

  • H&M to open first hypermarket store in S. Korea

    H&M to open first hypermarket store in S. Korea

    Swedish fashion label H&M is launching an outlet at the Homeplus Bucheon hypermarket in South Korea.

    The brand’s 29th Korean store, located to the West of Seoul, will open on September 20 and is its first hypermarket venture in the territory.

    The company’s first store inside a hypermarket marks a significant strategic step away from high street and fashion-first shopping malls in South Korea. Both H&M and Homeplus Bucheon believe the move will benefit both sides with increased foot traffic at the mall drawn in by the popular brand, while H&M can expect to gain easier access to families.

    The new store will span 1535sqm and retail men’s, women’s and kids’ clothing.

    The group has enjoyed considerable success in Korea, with revenues last year reaching KRW238.6 billion (US$213.5 million).

  • Anais and Greygrei to make China debut

    Anais and Greygrei to make China debut

    Korean clothing brands Anais and Greygrei are set to enter the Chinese market under Korean young-casual clothing firm Maison de Anais.

    The label, which successfully launched in northern Europe earlier this year, will target the late 20’s to late 30’s womenswear market in China after having received interest at the Shandong Korean Product Exhibition last July.

    The Greygrei brand is currently pending its official release on VIP.com, one of the three leading B2C internet shopping malls with the largest sales among Chinese e-commerce mobile apps.

    A Maison de Anais spokesperson said online fashion platforms are attractive to brands as they can help establish brands in the fast-changing Chinese market.

    “By introducing on VIP.com, Maison de Anais hopes to promote the brand to various buyers and distribution channels in China by increasing the brand competitiveness and reference of Greygrei as we establish direct contact with the customers.”

    Company president Jeong Ho Lee added: “Times are changing where a wide range of age groups, especially female consumers from their late 20’s to late 30’s, are taking the main role in invigorating the fashion market in China, from an era where the early-to-mid-20’s used to be at the helm. Greygrei and Maison de Anais hope to write [a] success story with China as the main stage.”

  • August Korea exports reach record, pass $50 billion

    August Korea exports reach record, pass $50 billion

    Korea exported more than $50 billion of goods in August despite fears of a global trade war, but experts continue to worry about the overreliance on a handful of popular products.

    According to data from the Ministry of Trade, Industry and Energy released over the weekend, Korea Inc. shipped out $51.2 billion worth of goods in August this year, up 8.7 percent compared to the same period last year.

    “Factors that contributed to the increase in exports include the improved condition of the global manufacturing sector, expansion of the gross domestic products of major economies and the increases in gas price and the prices of Korea’s main export items,” said an official from the Trade Ministry.

    August is the fourth straight month this year that monthly shipments from Korea have exceeded the $50-billion threshold.

    It is also the first time ever that August exports in any year have passed the $50-billion mark, another milestone for the Korean economy.

    “We expect the average monthly increase in exports in the second half will be maintained at around 5 percent,” said Paik Un-gyu, the minister for trade, industry and energy. “Accordingly, the total amount of exports from this year will surpass $600 billion for the first time in history.”

    From January to August, outbound shipments from Korea totaled at $399.8 billion, up 6.6 percent from the same period last year and a record high for the period.

    Despite the strong numbers, concerns loom large that the economy is unable to break free from depending too heavily on one or two export items, including computer chips.

    Data shows that semiconductor exports in August catapulted by 31.5 percent from a year ago to $11.5 billion, beating the historic high it set just two months ago in June at $11.2 billion.

    As a result, computer chip shipments are taking a bigger share of the pie each month. In January, semiconductors took up 19.7 percent of total exports. In August that figure had jumped up to 22.5 percent.

    If semiconductor exports are taken out of the picture, Korea’s outbound shipments from January to August have only risen by 0.37 percent. More disconcerting is the slowdown in investment by semiconductor companies. Data from Statistics Korea shows that facilities investment has dipped for five straight months since March this year.

    An official from the statistics agency explained that the investment made by major chip companies began slowing as new facilities entered the final phase of construction.

    “The Korean economy is in an unstable situation where, if semiconductor exports take a hit, it could be in crisis,” said Sung Tae-yoon, a professor of economics at Yonsei University. “The economy needs a strategy where it reduces its reliance on semiconductors while also increasing the competitiveness of the industry itself.”

  • Samsung, LG show off hottest gadgets at IFA

    Samsung, LG show off hottest gadgets at IFA

    The 2018 IFA, the biggest trade show in Europe for electronic appliances, kicked off Friday with a lot of buzz about connected homes, artificial intelligence (AI) and televisions with extraordinary resolution.

    IFA is a “place for many different industries – each with their expert knowledge – to share, discuss and develop their innovation and vision,” said Christian Goke, CEO of Messe Berlin, host of the annual tech fair, in a statement. “Nowadays, hardly any company can innovate without partners, alliances or open ecosystems. That brings a new mindset and heralds the Age of Co-innovation.”

    Korean tech giants Samsung Electronics and LG Electronics as well as dozens of smaller business operators have booths showing off their latest products.

    But Samsung and LG opted for different strategies for this IFA. Whereas Samsung highlighted its technological prowess by showing a few notable new products, LG was more ambitious in unveiling a flurry of new gadgets.

    Two top leaders from LG jointly delivered an opening keynote welcome.

    Jo Seong-jin, vice chairman and chief executive officer, and Park Il-pyung, president and chief technology officer, talked about what is next for the company as it looks to the future. They emphasized its signature ThinQ artificial intelligence platform, which has the slogan “Think wise, be free: Living freer with AI.”

    It was the first time that an LG executive delivered a keynote speech at the IFA.

    Jo provided his insights into how LG’s AI strategy can change customers’ lives with its “open platform, open partnership and open connectivity” philosophy.

    “Combined with cutting-edge computing, big data and enhanced connectivity through 5G, AI will integrate life, space and time into one, and open new possibilities that allow people to pursue freer, more valuable lives,” Jo said.

    Park explained how LG’s AI technology is being used in refrigerators, televisions and washing machines and why an open AI strategy was designed with the consumer in mind.

    Other tech company leaders speaking at the trade show over the next several days include those from Huawei, Microsoft and Amazon.

    More than one third of LG’s exhibition space is dedicated to AI, with a range of LG ThinQ products displayed in three different lifestyle zones: ThinQ Travel, ThinQ Gourmet and ThinQ Style. Each zone has been designed to reflect the diverse lifestyles of modern consumers by incorporating AI-enabled products into futuristic home environments.

    The ThinQ Travel zone will demonstrate the process of searching for an optimal holiday destination using AI televisions and booking flights and accommodations using the LG G7ThinQ smartphone.

    In the Internet of Things (IoT) living room – designed in collaboration with Italian luxury furniture company Natuzzi – the XBOOM AI ThinQ smart speaker shows it can turn on a TV and alter the settings of connected sofas and lighting installations.

    The CLOi SuitBot, a wearable robot, is being shown for the first time at the IFA. It is meant to empower humans at work. The robot supports lower limbs and enhances a human worker’s power, helping him lift or move heavy things with ease. That makes it useful in manufacturing and construction. A person with weaker lower-body strength may also use it to more easily walk around.

    The robot is equipped with sandal-type shoes and automatically adjusts itself to fit the body.

    The core tech zone highlights innovative technology used in LG ThinQ products such as LG OLED TVs and LG SUPER UHD TVs. An 88-inch 8K OLED TV is debuting in the zone, boasting 7,680 by 4,320-pixel resolution and the ability to generate deep blacks and vivid colors while making wide-viewing angles possible.

    Samsung took the wraps off an 8K QLED TV, which Kim Hyun-seok, president and CEO of the consumer electronics division, said would “revolutionize the visual display industry.”

    Available in four sizes – 65, 75, 82 and 85 inches – the extraordinarily high resolution televisions boast 16 times better resolution than currently available 4K and ultra high-definition televisions.

    He did not disclose the time of their launch or their prices but said Samsung may release them before 2020.

    “Samsung has been a leader in TVs for the past 12 years globally and 13 years in Europe,” said Kim at a press conference on Thursday. “We will keep up that status with 8K.”

    Currently, 4K televisions account for 70 percent of all televisions sold by Samsung, even though video content for such high-resolution televisions is not widely available. Samsung’s AI technology upgrades the original lower-resolution videos into a format matching the 4K television.

    The tech behemoth also showcased The Wall, a 146-inch MicroLED modular screen. It can transform into any size or shape according to a user’s needs. It also eliminates the need for color filters or backlighting.

  • Owners say Galaxy S7s are suffering ‘boot loop’

    Owners say Galaxy S7s are suffering ‘boot loop’

    Some users of Samsung Electronics’ Galaxy S7 smartphones are claiming their phones are suffering from boot loop – the phone continues to turn itself on and off – and other malfunctions after a recent upgrade to the operating system, according to industry sources Friday.

    An online community was created Tuesday to report and discuss defects in the Galaxy S7. The community has over 130 members.

    A 32-year-old Galaxy S7 user surnamed Han, who founded the community, claimed his phone started heating up and suffering from boot loop after an update to the Android 8.0 Oreo operating system in June, as reported. Han said he experienced no such problem before the upgrade.

    Some other members reported that the phone’s main circuit board, which handles communications between crucial electronic components in the phone, broke down several days after the update.

    Fixing the motherboard costs roughly 200,000 won ($180) at Samsung service centers, members of the community said. They argued that Samsung needs to offer explanations for the malfunctions and offer free repairs.

    In the past, LG Electronics has offered free repairs after owners of its premium G4 and V10 smartphones complained about boot loops.

    Industry sources say Samsung may have overlooked whether the new operating system was compatible with older models such as the Galaxy S7.

    A spokesperson for the Korean electronics giant said they need to examine whether the update was the problem or if there were other factors.

    Samsung is sensitive to malfunctions after its traumatic experience with Galaxy Note7s, which exploded due to battery problems and were eventually withdrawn from sale.

    The online community members said they plan to file a petition with the Korea Consumer Agency if the company doesn’t take suitable measures.

  • IKEA Korea to start Online Sales this Saturday

    IKEA Korea to start Online Sales this Saturday

    IKEA Korea will open an online mall, on September 1, in line with its Swedish headquarters’ efforts to increase its online sales worldwide, the global home furnishing company‘s local subsidiary said.

    “We will officially launch our e-commerce channel September to offer better accessibility to customers nationwide, because we have only two stores in Korea,” IKEA Korea’s country retail manager Andre Schmidtgall said at an IKEA pop-up store in Seoul.

    According to IKEA Korea, a distribution center has already been established to improve inventory and distribution management efficiency. The online shopping platform will offer a comprehensive range of products with a few exceptions such as foods.

    The company is also considering various ways to cater to urban residents.

    The chief executive said his company is moving to open more “customer touchpoints” in downtown areas around Korea to better understand their needs, as IKEA Group CEO Jesper Brodin said during his visit to Korea in April.

    Including the opening of pop-up stores in Seoul, an IKEA Korea taskforce is conducting various tests to consider the possibility, according to Schmidtgall.

    IKEA’s aggressive expansion in Korea is expected to weigh on domestic rivals such as Hanssem and Hyundai Livart, although the furniture makers have ostensibly taken a positive attitude toward the market competition so far, saying the rivalry can improve their productivity.

    “Hanssem will face more difficulty in recovering its stock prices, following the opening of IKEA’s online marketplace,” KB Securities analyst Jang Mun-jun said.

    Schmidtgall, however, said the company still put emphasis on offline stores, citing the stores can display a wider range of products and allow the retailer to directly meet customers and respond promptly to their needs. He promised IKEA will continue to open additional outlets in Korea.

    IKEA Korea, which runs stores in the Gyeonggi Province cities of Gwangmyeong and Goyang, held a groundbreaking ceremony recently for its Giheung-gu store in Yongin in the same province.

    “We are eager to expand our customer touchpoints and reach more of the many people in Korea through the launch of e-commerce and IKEA Giheung, construction of which is set to be complete at the end of next year,” Schmidtgall said.

    IKEA Korea also said it posted 471.6 billion won (US$425 million) in sales between September 2017 and August 2018, up 29 percent year-on-year. It did not disclose its operating profit.

  • Robots start serving Korea’s customers

    Robots start serving Korea’s customers

    On the 31st floor of Lotte World Tower in Jamsil, southern Seoul, a polar bear-shaped robot is reading customers’ palms instead of their credit cards to take their payments.

    The robot can also answer simple questions and make different 3D faces, depending on the conversation topic. If a customer complains about stress, Veny offers up a helpful suggestion: “There’s nothing like spicy food to beat stress. Why don’t you try the Hot Chicken Flavor Ramen and sprinkle cheese on top?” It throws out jokes, too, though they aren’t always winners: “A king that parks? Park-ing.”

    Veny is one of many robots introduced at local brick-and-mortar retailers in August. Companies have recently been trying to add new automated technologies, like expanded electronic kiosks, to their stores. Several major retailers upped their game last month by introducing humanoid robots in hopes of building closer connections with customers than other machines could provide.

    On Wednesday, the second-generation humanoid Pepper robot starting working at discount chain Emart’s Seongsu branch in eastern Seoul. It works three times a day for one and a half hours each shift at the store’s imported food section.

    Developed by Japan’s SoftBank Robotics, Pepper is equipped with software from Emart to help it serve consumers at the discount store. This was the second launch after the discount chain introduced an early version of Pepper in May. Although identical in appearance, the new Pepper can move by itself and is more outgoing.

    With its sensors and camera, the humanoid robot is on the lookout for consumers to offer assistance. “Sir, I can help you. Wait for me,” it says after spotting a customer. Pepper uses its screen to show items, escorts consumers to them, suggests the best sauce for dinner and waves goodbye.

    Emart explained in a statement that it chose the imported food section as the test-bed for Pepper because it has many products that local shoppers are unfamiliar with. Unlike the mobile Pepper, Veny sits still on top of the cashier desk. The robot has a monitor on its belly through which consumers can pay at 7-Eleven.

    Veny accepts credit cards, but its real trick is reading palms with its electronic paw. After registering your credit card information and doing a palm scan at a kiosk in front of the store, Veny will automatically retrieve payments from your account after you place your hand on his left paw. The service is currently limited to Lotte Card holders.

    Veny’s cashier function is not very different from what existed before at the two 7-Eleven Signature branches, which were the first unmanned convenience stores in Korea when they opened in May last year. A major point the company focused on with Veny was charm.

    The robot can recognize the face of past customers if they permit it to and can also talk about over 1,000 scenarios, including the fictional story of how he traveled to Korea all the way from the North Pole.

    A pioneer in the restaurant business is delivery app Baedal Minjok’s Dilly Plate robot, which was developed by Bear Robotics. For two weeks starting from Aug. 6, the server robot had its first local test-run at a Pizza Hut restaurant in Mok-dong, western Seoul. Dilly Plate looks like a high stool with a round top just about the right size to hold a pizza pan. It can safely carry up to 22 kilograms (49 pounds) at once.

    “The response was better than we expected,” said a Baedal Minjok spokesman who visited the branch several times during the test period. “One thing I noticed was that people got used to seeing Dilly running on the floor quite quickly. After one or two trials, servers seemed more comfortable working efficiently with the robot. Consumers were interested at first, and they quickly got accustomed to Dilly serving plates.”

    Another robot experiment in the food sector is local coffee franchise Dal.Komm Coffee’s b;eat – an unmanned take-out coffee stand. A robot serves drinks behind glass windows.

    B;eat has around 20 branches across Seoul. It takes orders through a mobile app or a kiosk beside the machine from seven iced or hot menu options, ranging from Americanos to cappuccinos. A coffee machine from the Swiss company Thermoplan makes the espresso-based beverages. B;eat’s robot arm moves plastic cups around to pour ice and coffee and delivers drinks to customers. It takes around three or four minutes to receive a drink after ordering it.

    “B:eat runs 24 hours a day, so it works best at places like airports, terminals or public spaces like libraries and universities,” said Dal.Komm Coffee in a statement. After its launch in January, B;eat has also proved to be popular at office buildings.

    While some people are intrigued seeing robots do human tasks, many also fear that this may be the start of robots pushing out the human workforce. Some local media outlets reported that the increased interest in robots in the retail industry is in line with the increased burden on companies due to the minimum wage hike.

    Retail companies say otherwise. They say their ongoing automation efforts are aimed at enhancing service while leaving tedious, repetitive work to robots and offer an entertainment factor get customers into brick-and-mortar stores.

    “An internal survey we did on store staff a few years ago showed that more than 60 percent of their work was taking care of payments,” said a 7-Eleven spokesman. “There are many more tasks that if done properly can lead to increased profits, such as placing orders, cleaning, arranging the shelves and stock management, and these can only be done by people, not robots … even for our unmanned stores, we need people to offer help on the new systems. It’s unlikely that technology will ever completely replace people at brick-and-mortar stores.”

    The global market for reception robots was estimated at $1.4 billion last year. This is expected to reach $11.8 billion by 2025. Robot experts point out that Korea is still in its infancy in terms of service robots.

    “The local robot industry is centered on industrial robots,” said a 2017 report from the Institute for Information and Communications Technology Promotion. “There are a few companies that develop robots for education or cleaning, but it is hard to find any in other service sectors.”

    “Regarding reception and emotional robots, in particular, Korea has very few companies that have technology in the sector comparable to Japan and China, whose governments are supporting the market’s growth.”

  • Emart24 opens swanky cafes overlooking Han river Korea

    Emart24 opens swanky cafes overlooking Han river Korea

    Convenience store Emart24 is hoping to entice visitors to stay awhile at its two new shops overlooking the Han River that open this Friday.

    The multi-level stores will each host a bookstore and cafe that will offer beer on tap.

    Emart24 is taking over the spaces from two existing observatory cafes which face each other at the south end of Dongjak Bridge. Both spots are known for offering great sunset and nighttime views.

    On the bridge’s western side, the cafe’s view includes N Seoul Tower, while the cafe on the east side looks toward the Moonlight Rainbow Fountain at Banpo Bridge.

    Each Emart24 will have five floors: a cafe and snack zone on the first and second floor, a small bookshop and lounge on the third and fourth and an outdoor rooftop on the fifth.

    “The new operations were aimed to look more like a cafe in order to break through the perception people have about convenience stores and make them into a cultural space,” said Emart24 in a statement released Wednesday.

    True to this concept, Emart24 will only offer one-fifth as many products at the Han River shops as its normal branches. However, it will offer a wider variety of desserts, like cake, puddings and macarons. Baristas will also serve up coffee at the cafe.

    Riverside drinkers will find two beers made from the craft brewery Devil’s Door, run by Emart24’s parent company Shinsegae, as well as Heineken draft beer. Wine options are set to be added in the future.

    The Gureum and Noeul Cafes that Emart24 is taking over are two of eight observatory cafes on the Han River. These cafes were part of an initiative by the Seoul Metropolitan Government to develop cultural and tourism infrastructure on the banks of the Han back in 2009. The sites were rented out by the city and made into coffee shops or restaurants, but not all of the operations were successful.

    An Emart24 spokesman said the company won a three-year contract for Gureum and Noeul, the two largest observatory cafes by the Han River.

    “The company sees it more like an experiment rather than a profitable revenue source,” said the spokesman. “We thought if we make it into a cultural space where people can casually stop by without an entrance fee, more people and foreigners would want to come.”

    The bookstore on the third and fourth floors will offer around 800 titles. Every quarter, local publishing house Munhak Dongnae will curate a new selection.

  • Expert investigation says BMW software to blame in fire incident

    Expert investigation says BMW software to blame in fire incident

    An investigation by the Korea Consumer Association (KCA) concluded that the spate of BMW fires that left Korea in a state of panic over the summer was the fault of the engine control unit (ECU) software, not the hardware issue that the German carmaker has maintained.

    The KCA claim that BMW updated the ECU software to make an engine part, called the bypass valve, open at higher temperatures, leading to higher engine performance and better fuel efficiency but also to a higher risk of fire.

    “An update in the ECU to enhance the car’s performance and fuel efficiency is not wrong by itself,” said Lee Ho-geun, an automotive engineering professor at Daeduk University who is leading the investigation team at the KCA, at a press briefing Tuesday.

    “But the fact that the carmaker didn’t fortify other parts to make them endure higher temperatures, leading to engine fires which put consumers’ lives at risk, is wrong,” Lee added.

    The KCA’s investigative team comprising of experts in the auto industry and law carried out a separate investigation into two BMW vehicles manufactured before August 2011 that are not subject to recalls and four recall-subjected cars.

    The team said that the bypass valve for recall-subjected vehicles opened while in operation, while that of vehicles not subject for recall didn’t open at all while in operation.

    According to Lee, a bypass valve in a diesel engine is generally supposed to be closed in order to block gas that’s hotter than 500 degrees Celsius (932 degrees Fahrenheit) from entering the intake manifold in the engine. It usually opens when the coolant’s temperature is lower than 50 to 60 degrees Celsius.

    “Bypass valve operation is controlled by the ECU,” said Lee. “If a vehicle opens the bypass valve while driving – causing a high possibility of a fire breaking out – it means BMW set the software to behave that way.”

    BMW Korea has persistently claimed that the cause of the fire is a hardware issue in the exhaust gas recirculation (EGR) cooler and valve. The ongoing recall process also includes replacing the two parts and cleaning the EGR pipe.

    The KCA investigative team said it is nothing but a temporary fix.

    “It will reduce the number of fires until the car gets that much accumulated sediment inside the pipe,” said Choi Younh-suk, a professor of smart automotive engineering at Sun Moon University at the briefing.

    According to Koo Bon-seung, an attorney at Heon Law, who is in charge of handling legal issues for the team, a total of 1,784 BMW owners have applied for a class-action lawsuit against BMW with Heon.

    Each owner will seek 15 million won ($13,547) in compensation.

    “As this case involves compensation worth 15 billion won in total, we are going to seek the provisional attachment of BMW Korea headquarters in central Seoul as well as the BMW Driving Center in Incheon and other logistics centers as well,” Koo said.

    Meanwhile, BMW Korea Chairman Kim Hyo-joon said he will look into the option of suspending sales of affected cars in Korea at a hearing held at the National Assembly on Tuesday.

    Kim said he feels shame for selling such defective vehicles in Korea and said he will take responsibility.

    Kim reiterated that the issue derives from a defect in the vehicles and not from the driving habits of Korean consumers.

    Earlier this month, BMW spokesman Jochen Frey came under fire for blaming Korean driving habits and traffic conditions for the fires in an interview with Chinese media. BMW Korea instantly refuted the comment, saying it was a translation error.

  • Musinsa : Online shop creates offline opportunities

    Musinsa : Online shop creates offline opportunities

    Online fashion retailer Musinsa held a presentation to introduce its newly opened Musinsa Studio and announce its goal of reaching a total sales volume of 1 trillion won (US$902 million) by 2020 in Dongdaemun, central Seoul.

    Musinsa, Korea’s largest online fashion retailer, was founded in 2001 as a fashion message board where users shared fashion tips and photos with one another and developed into a small online shopping outlet in September 2004 after it gained popularity among young Korean fashionistas. Its sales volume reached 30 million won last year and is estimated to make a total of 42 billion won by the end of 2018. There are currently around 3,500 different brands that sell their products through Musinsa, with the number growing daily.

    On June 15, Musinsa Studio opened its doors, taking up four floors of the Hyundai City Outlet Dongdaemun branch and offering space to small fashion-related companies. Musinsa has always focused on its online business, and this is the company’s first big step out into offline retail. Many in the fashion industry have taken note that Musinsa didn’t build an offline store, but rather an open studio for smaller, younger businesses to grow.

    “We believe that the two most important things for Musinsa are the brand and the customers,” said Seo Seung-wan, head of the business development team. “So instead of building an offline store, which would limit our communication with customers only through that particular branch, we decided to open up a space for brands [that sell their products on Musinsa] and their customers. The brands [that sell through Musinsa] have grown along with us through the years. So we don’t just sell their things. We are also building an ecosystem with them.”

    Small businesses, even one-person start-ups, can rent a studio space for a minimum of three months, during which the occupants may use the many facilities provided by the company, including the meeting rooms, seminar rooms, free repair service, photography studio and discounted parcel service. Businesses that entered the space early this summer represent a diverse range of talent, from fashion designers and textiles developers to film producers who create fashion-related content.

    The two basement floors contain storage rooms, photo studios and parcel services that occupants can use. “The cost for a box for delivery is set at 3,000 won all across Dongdaemun,” said Lee Ji-hye, a manager of the studio. “Here, we have a staff from CJ Logistics who takes care of all the deliveries everyday at half that price. The doors of the packing zone lead straight out into the parking lot, cutting time and money.”

    The 13th floor houses the brands and an office for the Musinsa customer service team, which Seo emphasized is part of Musinsa’s communication strategy. “We had 20 staff members on the customer service team, but the new office can hold up to 200. Communication is the one thing that we hold most sincerely at Musinsa, so that customers start to believe they don’t have to shop anywhere else. Rather than having an offline store, we can communicate with more customers this way.”

    Through all these means, Musinsa hopes to maintain its position as No. 1 in Korea and further develop into Asia’s biggest online fashion business. “Everything that we do is focused on providing customers with the best experience in online shopping and fashion, and it will always stay that way,” said Seo.

    To celebrate the official opening of the studio, Musinsa is holding the first offline Musinsa Market on the 12th floor on August 29 from 11 a.m. to 6 p.m. Get off at Dongdaemun History and Culture Park station.

  • Top Uber exec makes amends to Korea

    Top Uber exec makes amends to Korea

    Uber’s chief operating officer, Barney Harford, vowed to take Korean regulations more seriously during his visit to Seoul on Wednesday.

    The ride-hailing company is working to revitalize its local business and focus on its taxi and food delivery services, he said.

    “If we look back, we haven’t always behaved in the right way, and that is the case in Korea as well,” Harford said at a discussion attended by members of the American Chamber of Commerce in Korea. “As a company, we want to apologize for that.”

    Following his apology, Harford said that Uber would strive to become a better partner for cities and countries that host its services, hinting that the company wants to start fresh.

    “I want to be clear that going forward, we will not launch products or services that do not comply with regulatory frameworks in Korea,” he said.

    Uber has been plagued for more than a year by a series of high-profile scandals involving its unrestrained office culture and lawsuits that led to a company-wide reshuffle, including the replacement of its CEO and COO. Harford, who has an MBA from Insead, served as Asia-Pacific president at Expedia from 2004 to 2006 and took the CEO post at Orbitz in 2009.

    Orbitz was then sold to Expedia in 2015, and Uber’s new CEO, Dara Khosrowshahi, the former CEO of Expedia, asked Harford to join the company as his right-hand man.

    Harford took over the job last December. His visit to Seoul on Wednesday was his first since he joined Uber.

    Uber first came to Korea in 2013. Its most popular ride-hailing service, UberX, was banned in 2015 after the company’s peer-to-peer ride-hailing model was declared illegal by Korean transportation authorities. The service also faced intense protests from taxi drivers who were afraid of losing their income to Uber.

    Uber has since remained low-profile here, merely operating Uber Black, a premium cab-hailing service; Seoul Taxi, which works in the same way as Kakao Taxi; and car rental services such as Uber Trip and Uber Assist.

    In the meantime, Kakao Taxi, modeled after Uber and run by Kakao, operator of the country’s most popular chat app, has captured more than 90 percent of Korea’s taxi-hailing market. In August last year, Uber introduced its food delivery service UberEats, but it is only available in limited areas within Seoul.

    Harford said he still believes there are ways to use Uber to enhance existing taxi operations. He gave the example of UberFlash in Singapore, which Uber launched earlier this year in partnership with the country’s largest taxi company. The service, before it was sold, allowed customers to get a ride from either a taxi or an Uber depending on which was closer.

    Although the service is no longer available, since Uber sold its Southeast Asian operation to rival Grab, Harford said the partnership was “totally focused on increasing earning opportunities for the taxi drivers in Singapore.”

    Regardless of its minor presence in Korea, Uber has been expanding its Korean workforce in the past several years in hopes of grabbing more of the Korean market. The Uber COO called Korea “an incredibly important market” for the company because of its economy’s size and high level of technology.

    Harford said Uber is currently looking for partnerships and new opportunities in Korea.

    The COO arrived in Seoul on Tuesday night and had a meeting early Wednesday morning with several executives from unnamed Korean technology companies to search for potential “partnership opportunities.”

    “I think there is potential for us to work closely with some of the greatest technology companies in Korea,” Harford said. “The partnership will help us take Korean technologies and integrate them into some of the work that we are doing.”

    Uber recently announced it would diversify into electric bike and scooter services for short trips as a way to ramp up its global business. The company added electric bikes to its app in some cities in the United States.

    Earlier this year, it acquired bike-sharing company Jump and also invested in Lime, an electric scooter firm. However, Harford did not offer a specific timeline for rolling out new services in Korea.

    In a sign of the company’s ambitions, Harford said Uber isn’t just about cars, just as Amazon isn’t just about books.

    “It’s what got us started, but we see ourselves as a company that is about the transportation of people and of things,” Harford said. “There are many ways we are pushing forward in terms of urban transportation.”

  • 7-Eleven launches first fully-automated stores in South Korea

    7-Eleven launches first fully-automated stores in South Korea

    7-Eleven is launching first fully-automated stores 7-Eleven Express in South Korea.

    Currently under trial, four vending machine-style convenience stores are being operated: two at the headquarters of 7-Eleven in downtown Seoul, one at Lotte E&M in Incheon, and one at the headquarters of Lotte Rent-a-Car in Anyang, Gyeonggi Province.

    The store is designed as a 10-metre long express train, and consists of five vending machines with 200 products, which are divided into five categories for which there is high consumer demand: drinks, snacks, prepared meals, processed food and non-food products.

    Consumers can make a purchase by inputting the product number into the machine or selecting items from the central kiosk, and pay via a prepaid transit card or credit card, not cash.

    The stores feature a microwave oven and a hot water dispenser in the central area.

    7-Eleven is taking steps to commercialise the vending machine-style convenience stores, and will accept franchise applications from its current franchisees, as a “second store”.

    “This model is designed to maximise the profit of our current franchise owners,” 7-Eleven explained.

    Self-service convenience stores are being tested in several markets around the world.

    South Korean 7-Eleven also tested its “c-store of the future” with hand-payment at Lotte World Tower while the Taiwanese branch opened second unstaffed X-Store.

  • Chanel Korea comes under fire for sale of used bag

    Chanel Korea comes under fire for sale of used bag

    Chanel Korea has come under fire for allegedly selling a used handbag to a customer.

    South Korean media outlet News One has reported a customer paid 7 million won (US$6280) for a Chanel 2.55 flap bag at a department store in April. She claims she later found a bankbook and credit card belonging to someone else inside the bag, both items issued a month earlier.

    “I asked Chanel if anyone had purchased and refunded the bag, but the company said the product’s serial number showed that it had no purchase history,” the bag’s owner said.

    Chanel Korea released a statement saying it had no idea how the items came to be inside the bag, but it ruled out the possibility an employee had borrowed and used it before its sale. It said it had offered to replace the bag with a new one in July.

    Several South Koreans went online to express their dismay about the incident, one commenting on a news story saying: “Korean customers should take collective action such as a boycott to make sure that foreign companies such as Chanel and BMW do not look down on Korean customers and to teach them a lesson”.

    An unidentified “industry insider” said such an event was “very rare” and “close to impossible”.

    “If that product had been refunded, it is possible to find someone’s belongings from the bag.” But the source said if the bag had really never been sold before, it was hard to explain how the items got insid

  • Galaxy watches go on sale this week

    Galaxy watches go on sale this week

    Samsung Electronics’ new smart watches will go on sale today.

    Out of two new Galaxy Watch models, one works through a connection to a smartphone via Bluetooth. Its sales start today. The second, which operates totally independently via phone networks, will be available for purchase on Friday.

    Each type of smart watch, the fifth series from Samsung since 2013, comes in two sizes — 42 millimeters in diameter and 46 millimeters. The smaller model comes in either midnight black or rose gold, while the larger model comes in silver.

    The new watches were unveiled at a so-called unpacked event for Galaxy Note9 phablets in New York on Aug. 9. They are the first smart watches from Samsung that have lost the “Gear” brand name. Samsung is now the world’s third-largest wearable producer after Apple and Fitbit.

    The Galaxy Watch has been designed to automatically track the time spent and calories consumed on six types of exercise including walking, running and biking. Users may designate 33 more types of physical exercise, the largest number available for any smart watches on the market. The watch can keep track of users’ stress levels through a heart rate sensor and encourages users to breathe deeply to lower the stress level through notifications.

    The watch also syncs with the health application of a Galaxy smartphone.

    Samsung said the biggest improvement in the Galaxy Watch is its long battery life, ending the hassle of having to charge the watch every day. A 46-millimeter Galaxy Watch can run for 80 hours, or more than three days, at a minimum on a single charging and a 42-milimeter model can run 45 hours at the minimum. The LTE-enabled Galaxy Watch can receive or make phone calls without being tethered to a smartphone. But the watch can be used on the same account used for an owner’s smartphone and via the same phone number.

    Prices of the Bluetooth-enabled models start from 339,900 won ($305) and the LTE-enabled models from 379,500 won. They can be bought from Samsung online or at Samsung Digital Plaza stores nationwide, mobile carrier stores, department stores and discount chains.

  • Lotte Duty Free takes over Australia and NZ stores ownership

    Lotte Duty Free takes over Australia and NZ stores ownership

    Lotte Duty Free has bought a change of outlets in Australia and New Zealand from local operator JR Duty Free.

    The four Australian stories are in airports in Brisbane, Darwin and Canberra and in downtown Melbourne, while the New Zealand store is at Wellington airport.

    JR Duty Free reportedly operates seven stores in Oceania and five shops in Israel. Its revenue last year was US$617 million.

    Financial details of the deal were not revealed.

    Lotte Duty Free believes growing numbers of Chinese tourists into Oceania offer an opportunity to grow its business in the two markets.

    The South Korean company has been steadily enlarging its global footprint since 2012, expanding into Vietnam, Japan, Thailand, Indonesia and the US.