Revenue, income and jobs all declined

South Korean supermarket chain Homeplus has appointed former CEO of McDonald’s Korea Cho Ju-yeon as its new chief marketing officer, in an executive reshuffle announced on Thursday. Cho made headlines in 2016 when she became the first female CEO at the South Korean unit of the fast food restaurant. Hwang Jeong-wook, who formerly served as the chief financial officer at the Korean unit of AstraZ...

BAT Korea unveiled a new study on Monday that showed its tobacco heating product Glo was able to “significantly” reduce harmful exposure to toxic substances. The recent study published in the Journal of Internal and Emergency Medicine offers the “first real-world evidence” that switching from cigarettes to exclusive use of Glo, the company’s flagship product, has a similar impact on indicators o...

South Korea’s antitrust watchdog has launched a probe into e-commerce giant Coupang over the accusation that the company has meddled with algorithms to prioritize its own products, according to multiple reports on Sunday. According to the reports, the Korea Fair Trade Commission conducted an on-the-spot inspection at Coupang’s headquarters office in Seoul late last month following accusations th...

Shin Dong-won, the eldest son of the late founder and chairman of Nongshim Group Shin Choon-ho, has been inaugurated as the new chairman of Nongshim Group, the South Korean food company said Thursday. The promotion of Shin, who was formerly Nongshim’s vice chairman, was decided at a temporary board of directors meeting, the company said, to allow him to succeed to the post of his late father who...

GS Group’s retail units merged to combine online and offline strengths

Leisure platform to brand itself as “leading global tech company”

In a further sign of the growing popularity, sales in March were up nearly 300 percent compared to the same period a year prior. Enhypen is a multinational group consisting of Heeseun, Jay, Jake, Sunghoon, Sunoo, Jungwon and Ni-ki. The group was formed after the bandmates appeared on Mnet K-pop competition show “I-Land.” Managed by Belift Lab, a joint record label between CJ ENM and Hybe, the ...

Coway, a South Korean home appliance rental firm, has been named one of the “Best Korea Brands 2021” by global management consulting firm Interbrand. This year’s recognition marks the seventh year running that the company has been named among the 50 best brands that represent South Korea. Coming in the 27th place, Coway’s brand value enjoyed a 8.1 percent year-on-year increase and was estimated...

Once dominated by mass-produced best-sellers, beer industry is shifting towards more independent, smaller breweries

Shinsegae Department Store will build a new department store in the envisioned Suseo Station Transit Center Complex, the company said Friday. According to the retail giant, a consortium led by Hanwha Engineering and Construction and participated in by Shinsegae has been chosen as the preferred candidate for the Suseo Station Transit Center Complex Development Project, which is worth about 1.2 tr...

E-Land Group’s fast fashion brand SPAO said Thursday it would launch a casual hanbok collection ranging from robes, pajamas to accessories. Ten items featuring patterns inspired by plum blossoms and bamboo will be released as part of the collection, which will go on sale online on the brand’s official website and fashion e-commerce platform Musinsa on Friday. The collection, which is a collabor...

BAT Korea has unveiled a new “Eco Package” for its tobacco heating product Glo in its latest effort to embrace environmental, social and corporate governance values. To minimize carbon emissions and resources during the product distribution process, the size of the package has been reduced 30 percent, the South Korean unit of the British multinational company said. In addition, the product inst...

Death of restaurant owner after dealing with Coupang Eats customer marks latest controversy surrounding the company

Coway, a South Korean home appliance rental firm, will gradually reduce its greenhouse gas emissions and go net-zero by 2050, the company said Monday. Reiterating its commitment to its environmental, social and corporate governance initiative, the firm said it aimed to cut its emissions in half by 2030. By 2050, the company plans to operate entirely on renewable energy sources. To that end, Cow...