All South Korea articles – Page 4
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NewsTesco expects corporate responsibility competition to rise
Tesco has said corporate responsibility will an increasingly important tool in grocery competition this year for ethical and business reasons.
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NewsJohn Lewis makes a play for ‘premium’ overseas presence
Retailer to partner with South Korean department store to sell ‘very British’ own-brand homewares.
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NewsTesco expands Korean virtual stores
Tesco is to expand its virtual shopping walls in South Korea to target university students.
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News
Ikea to open South Korean store in 2014
Ikea has acquired a 841,715 sq ft plot in Gwangmyeong, Gyeonggi Province, Chosun Ilbo reports. The home furnishings retailer plans to open a store on the site in 2014.Ikea Korea said that, to cater for local consumer habits, delivery and assembly services would be provided through a subcontractor.
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News
Fast Retailing to increase network of Uniqlo stores
Japanese clothing group Fast Retailing aims to increase its network of Uniqlo stores in South Korea to 300 by the 2020 financial year from its current estate of 64.The retailer hopes the openings will boost South Korean sales to KRW3 trillion (£1.64bn). The plans were revealed by Fast Retailing chief ...
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Gross sales rIse at Lotte Shopping
Lotte Shopping’s gross sales rose 20.3% to SKW5.5trn (£3.1bn) in its second quarter for 2011. Operating profit rose by 8.1% to SKW437bn (£243.8m) while net profit soared by 17.1% to SKW301bn (£167.9m).For the first six months, gross sales climbed 23.8% to SKW11.2trn (£6.25bn). In terms of sales, the group’s Lotte ...
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GallerySuper markets
Food retail store design thinking says that supermarkets lack character and that if elements of traditional markets can be put into them, all will be well. But is this viable? John Ryan reports
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NewsTesco Asia trip shows grocer is realising global rewards
Analysts believe Tesco is “beginning to enjoy the benefits of its global scale” after the grocer ran an investor trip to Asia this week.
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News
Lotte Shopping Q3 sales up 23.1% to £1.9bn
Lotte Shopping has reported a strong set of results for its third quarter with gross sales up 23.1% to KRW3.5trn (£1.9bn). Operating profit was up by 44.7% to KRW241bn (£133m), while net profit increased 25.7% to KRW183bn (£86m). It had a good performance in all divisions, with like-for-like sales growth ...
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News
Ikea to enter South Korea
Ikea Group president and chief executive Mikael Ohlsson has reiterated comments made on a recent trip to Delhi that the retailer is preparing for market entry into South Korea. He has also confirmed the retailer’s plans to enter the Croatia and Serbian markets in the next few years.
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GalleryHyundai department store Ilsan, Seoul
The newly-opened Hyundai department store in Ilsan, just outside Seoul, is the kind of thing that you just don’t see in Europe or North America these days. This is 430,000 sq ft of retail space, organised over 10 floors, with everything from a supermarket and deli in the basement, to ...
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News
South Korea parliament considers limits on supermarket business
The country’s parliament is considering two bills that would impose restrictions on the opening and business of large supermarkets. Under one bill, currently passing through parliament, opening an urban supermarket with an area of between 10,760 sq ft and 32,290 sq ft would require permission from the local government. ...
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AnalysisSlow road to South Korea will help Ikea’s prospects
Ikea has reported that group sales for the year ended August 31, 2010, rocketed 7.7% to €23.1bn (£19.2bn).
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AnalysisTesco’s Far Eastern promise
Combining its global scale with local knowledge is key to Tesco’s growth in Asia, incoming chief executive Phil Clarke tells Jennifer Creevy
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