Most Popular
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Pyongyang erects blockades along inter-Korean railways
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Blackpink's Rose and Bruno Mars' 'APT' sparks surge in related stocks
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FT Island's Choi Min-hwan under investigation for allegedly soliciting prostitution
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[From the Scene] How robotics reflect shift in S. Korea's food industry
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Opposition slams Yoon's suggestion to send offensive weapons to Ukraine
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[Exclusive] Korean adoptee sisters meet for the first time in 39 years
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Yoon calls for measures to protect Koreans amid escalating Iran-Israel conflicts
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Korea to regulate cross-border trading of crypto
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N. Korea says troop dispatch to Russia, if true, falls in line with int'l law
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N. Korea slams Seoul-Washington joint air exercise
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CJ's Tous Les Jours debuts in Cambodia
CJ Foodville said Monday it has opened two new Tous Les Jours branches in Cambodia, as part of efforts to broaden its foothold in Southeast Asia. The two new branches, which opened Friday in Kam Puchea Kroum and Toul Tom Poung in the country’s capital, Phnom Penh, mark the first locations for CJ Foodville to showcase the Tous Les Jours brand in the country. According to the company, both of the new branches feature a hybrid concept of cafe and bakery elements, boasting a selection of over
April 29, 2024
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SK Innovation's Q1 net loss widens on FX losses
SK Innovation Co., South Korea's leading refiner by sales, said Monday its net losses widened in the first quarter from a year earlier due mainly to foreign-exchange losses. Net losses deepened to 97.62 billion won ($71 million) in the first quarter from 51.95 billion won in the year-ago period, the company said in a statement. "A weak won, which drove up import prices of crude oil and decreased equity gains from SK On, weighed on the quarterly bottom line," a company spokesperson
April 29, 2024
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KT&G CEO highlights Indonesia as new global production hub
KT&G’s newly-appointed CEO Bang Kyung-man recently embarked on a business trip to Indonesia, a nation the company projects as a new production hub on the global stage, according to the South Korean cigarette manufacturer on Sunday. The business trip is Bang's first since assuming the role of CEO last month. Following shareholder approval during the company's annual general meeting on March 28, Bang, formerly the company's vice president, ascended to his new leadership
April 28, 2024
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Hyundai Mobis breaks ground for W170b Spain plant
Hyundai Mobis, the auto parts manufacturer under Hyundai Motor Group, said Wednesday it held a ground-breaking ceremony for its first factory in Western Europe, which will manufacture battery systems, particularly focusing on supplying the Volkswagen Group. The new factory in Navarre, Spain, will cover an area of 150,000 square meters, with a floor space of 50,000 square meters, and it will have the capacity to produce up to 360,000 battery system assemblies annually. In line with its goal to
April 24, 2024
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HD Hyundai teams up with Norway's Philly Shipyard for US footing
HD Hyundai Heavy Industries and Norway's Philly Shipyard signed a memorandum of understanding to collaborate on manufacturing, maintaining, repairing, and overhauling vessels and ships ordered by the US government, the South Korean shipbuilder said Wednesday. The signing ceremony was held at Philly's shipyard in Philadelphia, Pennsylvania, on April 12 -- with key officials from both companies in attendance, including Joo Won-ho, head of HD Hyundai Heavy Industries’ special ship b
April 24, 2024
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SC Bank Korea offers special rate for new customers
Standard Chartered Bank Korea said Tuesday it will offer special interest rates of up to 3.5 percent for as long as 60 days to first-time SC customers who deposit 30 million won ($21,800) or more, up to 2 billion won, in money market deposit accounts. Money market deposit accounts pay interest based on the daily account balance. The bigger the deposit, the higher the interest. The promotional rate is offered to first-time customers of SC Bank Korea who open accounts by April 30. The promotion wi
April 24, 2024
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KGC eyes Indonesian market, riding high on volleyball fame
Korea Ginseng Corp., the country’s leading manufacturer of ginseng products, said Monday it plans to prioritize its marketing efforts in the Indonesian market, particularly leveraging the growing popularity of the Indonesian volleyball player under its sponsorship. Currently, the KGC sponsors the Red Sparks women’s volleyball team under its premium ginseng product brand, JungKwanJang. In 2023, the volleyball team was joined by Megawati Pertiwi, a 24-year-old volleyball player from In
April 22, 2024
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S-Oil donates W560m to support firefighters
S-Oil, one of major refineries in South Korea, made a donation of 560 million won ($405,000) to the Korea National Council On Social Welfare to support its ongoing program assisting firefighters and their families, the company said on Friday. According to the refinery company, the KNCSW, a charity organization under the Ministry of Health and Welfare, will allocate the fund to the Heroic Firefighter Protection program. This program covers the medical expenses of injured firefighters, provides sc
April 19, 2024
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Sungsimdang outperforms bakery giants to log sales over W100b
Sungsimdang, a local bakery brand based in Daejeon, outperformed the country's top bakery franchise giants, Paris Baguette and Tous les Jours, logging record sales last year, a regulatory filing showed Friday. Rosso, Sungsimdang's holding company, said the bakery recorded sales figure of 124.3 billion won ($89.7 million) in 2023, a 52.1 percent increase from the previous year’s 81.7 billion won. It is the first time a local bakery has achieved more than 100 billion won in sales w
April 19, 2024
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CJ Olive Young offers real-time translators for foreign visitors
CJ Olive Young said Thursday it has introduced portable translators supporting 16 languages in its outlets nationwide to enhance the shopping experience for foreign visitors and the work efficiency of its employees. The handheld device supports 16 languages for real-time translation, including English, Chinese, Japanese, Vietnamese, Russian and Mongolian. In addition, they offer sight translation through an attached camera, allowing users to take a picture and see the translated text on the scre
April 18, 2024
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Paris Baguette debuts in the Philippines
SPC Group said Thursday its bakery chain Paris Baguette had launched its first store in the Philippines. The new Paris Baguette branch in Manila features wooden interiors, designed to create a premium European bakery ambiance, and is located on the first floor of the SM Mall of Asia, the largest shopping center in the Philippines, with a total of 90 seats available. In August, SPG Group signed a franchise agreement with a local retailer Berjaya Food Berhad. This deal falls under the so-called &q
April 18, 2024
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Burger King reveals New Whopper following buzz marketing campaign
The fast-food chain Burger King unveiled the New Whopper, a revamped version of its signature item on Monday, one week after announcing the discontinuation of sales of the original Whopper. According to an announcement on the fast-food chain's Korean website Monday, the reinvention was focused on intensifying the smokey flavor in the burger patties. Compared with the original Whopper, the new version has a thicker patty to enhance its juiciness and texture, along with additional salt and pe
April 15, 2024
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Coupang shares hit 18-month high on membership fee hike
The stock price of New York-listed e-commerce giant Coupang surpassed $20 a share on Friday for the first time in 18 months, following the company's announcement it would raise membership fees by nearly 60 percent. Coupang's stock price closed trading at $21.25 on Friday, marking an 11.49 percent increase from the previous day's closing price of $19.06. Its market capitalization recorded $38.1 billion. The surge in the stock price coincided with the company's announcement ear
April 14, 2024
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Nongshim brings Chapagetti to the fore for global market
South Korea's leading ramyeon manufacturer Nongshim plans to prioritize the promotion of Chapagetti, its black bean-flavored ramyeon product, to diversify its overseas marketing appeal. Following Shin Ramyun, its top-selling instant noodle product, the company will now focus on promoting its 40-year-old Chapagetti as the next major brand targeting the global market, a Nongshim official said during a press conference held in eastern Seoul on Friday. "We have previously concentrated on a
April 14, 2024
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[Photo News] Mental health for athletes
LG Electronics, the South Korean home appliance giant, said Wednesday it donated $100,000 to the National Collegiate Athletic Association, a US-based organization overseeing intercollegiate athletics. The contribution aims to support the NCAA's program dedicated to promoting mental health within collegiate athletics. “We hope this contribution fosters the mental well-being of young athletes, enabling them to pursue successful careers," said Jung Kyu-hwang (center), head of LG Ele
April 10, 2024
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BAT unveils special McLaren design for F1 Japanese Grand Prix
BAT Rothmans, the Korean unit of British American Tobacco, said Tuesday it unveiled a special McLaren livery design inspired by its e-cigarette products for the 2024 F1 Japanese Grand Prix. According to BAT, the unveiling of the livery is part of the "Driven by Change" project, a collaboration campaign between the tobacco company and the McLaren Formula 1 Team. Launched in 2021, this collaborative initiative aims to provide emerging talents worldwide with the opportunity to design li
April 9, 2024
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Big companies increase R&D investment in 2023
Big companies in South Korea increased their investments in research and development activities last year despite decreased earnings, a corporate data tracker said Tuesday. Their combined R&D investments rose 9.4 percent to 73.42 trillion won ($54 billion) in 2023 from 67.14 trillion won a year earlier, according to a recent survey of 224 firms by the data tracker CEO Score. They suffered declines in sales and operating profit due to an economic slowdown but they executed their planned R&
April 9, 2024
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Goodbye to Whopper? Burger King’s marketing stunt stirs confusion
The announcement from Burger King's South Korean operator that it would stop selling its popular Whopper lineup has stirred up controversy and mixed opinions over whether it is merely a marketing stunt or not. Early Monday morning, Burger King informed customers through its website and mobile messenger KakaoTalk about the end of Whopper sales. "Whopper sales will end after 40 years," the announcement read. "We thank everyone who has loved the Whopper all this time." Acco
April 8, 2024
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CJ's Tous Les Jours to set up franchisee training center in US
CJ Foodville, the operator of the South Korean bakery chain Tous Les Jours, said Monday it plans to establish a training center in the US aimed at enhancing the service and operational expertise of its local franchisees there. This initiative comes as CJ Foodville has recently experienced an increasing number of inquiries from Americans interested in operating Tous Les Jours franchise outlets in the US, the company added. According to CJ Foodville, contracts for new franchise openings have alrea
April 8, 2024
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LG chairman loses suit filed to recoup part of massive inheritance taxes
LG Group Chairman Koo Kwang-mo on Thursday lost a lawsuit he filed together with his family members to recoup part of the near 1 trillion won ($735.7 billion) in inheritance taxes imposed following the death of former Chairman Koo Bon-moon. After the former chairman's death in 2018, a combined 990 billion won in taxes were imposed on Koo Kwang-mo and other members of the owning family for their inheritance worth about 2 trillion won that included an 11.28 percent share in LG Corp., the hold
April 4, 2024