South Korea Retail Sector News

Related General Retail Industry News

• In October 2022, in order to connect all user interactions, whether they take place offline, online, in augmented reality, or even in the metaverse, the Central group launched the Next-Gen Omnichannel platform, which will encompass the Central Retail network in Thailand, Vietnam, and Italy.
• In February 2022, the fourth wave of the COVID-19 pandemic in HCM City caused several fluctuations in the supply chain of commodities, and modern retail businesses had to adapt by changing their distribution systems rather than continuing to play the traditional function of delivering items to customers on-site.

In April 2021, Singapore homegrown retailer Naiise has shut down after struggling to survive through the pandemic, with its owner Dennis Tay filing for personal bankruptcy.

• February 2024: DFS Group partnered with Douyin Life Service, a short video platform in China. The partnership aims to improve international travel retail shopping experiences.
• June 2023: DFS entered a strategic partnership with Ctrip Global Shopping and Unipay International. These partnerships aim to strengthen digitalization in the travel retail market.

• In October 2022, in order to connect all user interactions, whether they take place offline, online, in augmented reality, or even in the metaverse, the Central group launched the Next-Gen Omnichannel platform, which will encompass the Central Retail network in Thailand, Vietnam, and Italy.
• In February 2022, the fourth wave of the COVID-19 pandemic in HCM City caused several fluctuations in the supply chain of commodities, and modern retail businesses had to adapt by changing their distribution systems rather than continuing to play the traditional function of delivering items to customers on-site.

In April 2021, Singapore homegrown retailer Naiise has shut down after struggling to survive through the pandemic, with its owner Dennis Tay filing for personal bankruptcy.

• In February 2022, Element Six UK Ltd collaborated with II-VI Inc. Through this collaboration, II-VI licenses Element Six's intellectual property and necessary equipment would produce high-quality single-crystal diamonds to expand its core competency in diamond technology.
• In July 2021, Element Six UK LTD and the University of Warwick entered a partnership to develop the next generation of synthetic diamond-enabled technologies. Under this partnership, Element Six applied its renowned expertise and capabilities in advanced material solutions.

• May 2023: Thai Acrylic Fibre Co. Ltd, part of Aditya Birla Group, launched a new variant of Regel fiber with 75% recycled content.
• January 2023: Romania's RIFIL Group introduced a new range of environment-friendly yarns branded as Infinity. These yarns are made from Thai Acrylic Fibre's recycled acrylic fiber, Regel.

• June 2024: Esports tournament organizer BLAST partnered with gaming furniture brand Blacklyte. Under this agreement, Blacklyte is set to be the official gaming chair partner for both BLAST Premier and BLAST Rainbow Six events in 2024.
• August 2023: Xbox, a leading gaming firm, collaborated with Tempur, a well-known mattress manufacturer, to create a unique and innovative gaming chair designed for enhanced comfort and performance.

• September 2024: ABB India introduced its ABB-free home, a state-of-the-art smart home automation system, in India. This advanced wireless solution aims to boost comfort, security, and energy efficiency in homes. Users can seamlessly integrate and manage various elements, including white goods, third-party devices, and EV chargers, all from a unified interface.
• August 2024: Huawei Digital Power introduced its innovative Smart Home Energy solutions in the Philippines, underscoring its dedication to steering the nation towards a sustainable and energy-efficient future. This all-encompassing home energy solution features a Smart PV Module, Smart String Energy Storage Systems (ESS), a Smart Energy Controller, and SmartGuard. This solution is tailored for those seeking aesthetics and functionality in their living spaces, aiming to transform home energy management, particularly in villas.
• May 2024: Haier launched a wide range of products in the Philippines. Their offerings, including the cutting-edge All Fresh refrigerator and the Color AI washing machine, showcase Haier's commitment to blending advanced technology with everyday convenience, ushering homes into a modern era. Additionally, Haier introduced the UV Cool Connect Pro air conditioner, boasting features like self-clean technology. The company highlighted that Haier's air conditioner enables users to manage settings remotely through Wi-Fi on their mobile devices.

• February 2024: India's food ministry launched 'Bharat rice' at a subsidized rate of Rs 29(USD 0.35) per kg to provide relief amid a 15 percent rise in retail prices of grain in the last year.
• October 2023: China cultivated genetically modified giant rice in mountainous regions in Beijing to bolster food security amid soaring global rice prices. The yield reached 12.6 metric tons per hectare a 5 percent increase from 12 metric tons per hectare last year.
• January 2022: The Tamil Nadu Agricultural University (TNAU) released a new rice variety named 'TRY 5' in India. This is an early-duration variety suited for salt-affected soil.