In a bizarre scene straight out of a horror comedy, a woman in a cat mask stormed a supermarket in Geoje, South Gyeongsang, meowing at police before being dragged away.
As the government prepares to distribute up to 550,000 won ($400) per person in consumer vouchers starting July 21 to spur spending and aid small businesses, supermarket franchise owners find themselves left out — again.
Emart reported its strongest quarterly earnings in eight years for this year's January-March period, powered by deep cost restructuring and a renewed focus on core retail operations.
The downturn in domestic consumption due to the economic slump has cast a shadow over the first quarter earnings of the retail industry, with even previously thriving convenience stores experiencing a significant decline in operating profits.
Shoppers pass the rice section of a supermarket in Seoul on April 16.
A government policy designed to protect traditional markets by forcing large discount retailers to shut down twice a month may be backfiring, accelerating the decline of both traditional markets and brick-and-mortar stores, a new study suggests.
Homeplus and Lotte cite old laws for layoffs as e-commerce poses fierce competition.
Several companies halted supply to Homeplus after the company entered corporate rehabilitation on Thursday.
Homeplus entered corporate rehabilitation in a bid to get ahead of liquidity concerns, particularly those pertaining to short-term cash flow, in the wake of a cut to its credit rating.
Homeplus has entered rehabilitation due to liquidity issues.
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