Korea, Republic of (ROK) - Domestic trade



The small family store, traditional in Korea, is giving way to chain stores and supermarkets. Large, modern department stores now operate in Seoul, Pusan and other major urban centers, although some trade in rural areas is still carried on by itinerant peddlers, mobile sidewalk stands, and periodic market fairs. Black markets offering all manner of foreign goods are much in use; haggling over prices is common. Seoul is the nation's wholesaling center. Franchising has a firm ground in the restaurant and retail markets. Direct marketing, particular door- to-door sales, is still fairly popular as well.

Most private offices are open from 8:30 AM to 6:00 PM weekdays and from 9:00 AM to 12:00 PM on Saturdays. Korean government offices keep similar hours, except for a 5:00 PM closing from November through February. Banking hours are 9:30 AM to 4:30 PM , Monday through Friday and 9:30 AM to 1:30 PM Saturdays.

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