Most Popular
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Korea enters full election mode
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Immigrant woman stabbed to death by Korean husband
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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Official campaigning kicks off for April 10 elections
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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Nongshim Group inaugurates heir Shin Dong-won as new chairman
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 died of chronic illness in March at the age of 92. Under the second-generation leader, Non
July 1, 2021
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Merged GS Retail aims to challenge online, offline rivals
The new GS Retail is kicking off in July as GS Group’s retail business unit, the company said Wednesday. The new entity was created by the marriage of two GS retail arms -- the old GS Retail and GS Home Shopping. The purpose of the merger, decided at the end of 2020, is to integrate the group’s presence in online and offline commerce platforms and boost its competitiveness in the overall retail sector. The new GS Retail, which officially launches Thursday, will be in charge of op
June 30, 2021
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Yanolja announces plans to increase R&D investment
Global leisure platform Yanolja said Monday it will hire some 300 personnel for research and development during the second half of this year. Under the “Tech All-In” vision, the company, which offers various holiday bookings including for hotels and trains, plans to increase its R&D staff by a total of 1,000. The move comes as Yanolja seeks to solidify its position as a leading global tech company. It currently offers business-to-business solutions to hotels in over 170 countri
June 28, 2021
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Fashion brand Ami taps K-pop group Enhypen as global ambassador
French designer brand Ami has tapped K-pop group Enhypen as its first global ambassadors. The septet, with previous hit singles including “Fever” and “Drunk-Dazed,” will help the brand expand its presence at home and abroad, Samsung C&T said Monday. Founder and creative director Alexandre Mattiussi said the energy, authenticity and message of inclusivity from the group resembles that of Ami, as he welcomed the decision. Famous for its signature logo featuring the l
June 28, 2021
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Coway named “Best Korea Brand” by Interbrand
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 at 1.12 trillion won. Leading the global environmental home appliances with
June 27, 2021
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South Korea’s growing craft beer boom
Craft beers are enjoying a surge in popularity as more beer drinkers in South Korea seek to broaden their choices, bucking the years-long trend of sticking to major mass-produced beers which have dominated the country. According to data from convenience store chain CU, sales of craft beer are growing exponentially, up nearly 500 percent in 2020 compared to the previous year. The upward trend appears to be continuing this year as sales have risen by 239.2 percent as of June 21, compared to the
June 27, 2021
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Shinsegae Department Store to build new landmark in Suseo
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 trillion won. The Suseo Station Transit Center Complex Development Project aims to develop a 115,927
June 25, 2021
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SPAO launches daywear hanbok collection
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 collaboration project with hanbok brand Leesle, garnered attention before its official release ov
June 24, 2021
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BAT unveils eco-friendly package for Glo
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 instructions have been simplified while the charging adapter, which was mainly made of plast
June 24, 2021
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Coupang faces biggest backlash yet as criticism mounts over working conditions
In March, Coupang made history as the first South Korean startup to make its debut on the New York Stock Exchange in the US, becoming a subject of both awe and envy among entrepreneurs here. But a few months later, it now faces growing criticism, with many suggesting the company achieved stellar growth by sacrificing the safety and well-being of its workers. A series of deaths among its workers and a fire at one of its distribution centers last week seem to have reinforced that view. Outside
June 22, 2021
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Coway aims to go net-zero by 2050
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, Coway is using solar power at its three factories and one distribution center, with plans to invest f
June 21, 2021
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Naver and CJ Logistics push for next day delivery
Naver and CJ Logistics said on Sunday its “all-round” fulfillment center in Gunpo, Gyeonggi Province, had begun operation in a further push for next day delivery. The five-story warehouse, boasting a floor space of 38,400 square meters -- an equivalent of five soccer stadiums -- can store, manage, pack and ship items using the latest logistics technology including MPS and eFLEXS. Another center with a cold chain system focusing on chilled and frozen products is set to open in Yongi
June 20, 2021
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Shinsegae-Naver consortium likely winner of eBay Korea takeover bid: report
A consortium of South Korean retail giant Shinsegae Group and internet behemoth Naver is expected to win a bid to take over eBay Korea, local media reported Wednesday. If materialized, the deal would set off a major shake-up in the country’s e-commerce retail segment. No official announcement had been made as of Wednesday afternoon. In a regulatory filing Wednesday afternoon, E-mart, Shinsegae Group’s retail affiliate, said it was participating in the tender and in discussions
June 16, 2021
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CU rolls out third collaboration beer
A new craft beer inspired by white sheep, a symbol of a local underwear brand, will hit CU convenience store shelves on Thursday. The Baik Yang BYC Vienna Lager is the third collaboration beer launched by CU, according to BGF Retail, the firm behind the convenience store chain. BYC is an underwear brand, established in 1946. The company is well known for its white undershirts, and it has used an image of a white sheep as its symbol from 1957, according to CU. The name of the beer and symbo
June 15, 2021
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[Herald Interview] Eve: making inclusive condoms for everyone
It is not so often that companies in South Korea go out of their way to cater to the LGBTQ community. Eve, however, is not afraid to embrace everyone. With its gender-neutral models and simple product packaging, the sexual health brand is a far cry from the heteronormative narrative that has dominated the condom industry for years. “While everyone who is sexually active is our potential target, it is true that the condom industry has heavily relied on sex appeal and focused on heterosexu
June 14, 2021
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GS25 to expand AI robot delivery service
South Korean convenience store GS25 said Sunday that it has recently launched a delivery service using an artificial intelligence-based robot at a second location in southern Seoul. The second AI-powered robot dispatched at its GS Tower branch in Yeoksam-dong in the Gangnam area comes after the company first unveiled the service last year. Customers can place an order via KakaoTalk to have staff load the items onto the robot, which then brings it to the customer’s doorstep using wireles
June 13, 2021
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Race to take over eBay nears end, as delivery app Yogiyo seeks buyer
The new owner of eBay Korea, the third-largest e-commerce operator in the country, is expected to be announced this week after a monthslong bidding process draws to a close, industry sources said. The race is between two retail giants Shinsegae and Lotte Shopping. Both operate a wide range of businesses in the retail sector, including supermarkets and department stores, and have submitted their letters of intent for the Korean unit of eBay during the final round of bidding on June 7. Whoever w
June 13, 2021
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Domestic demand extends improving momentum: ministry
South Korea's domestic demand is extending an improving trend as retail sales and consumer sentiment gained ground amid an economic recovery, the finance ministry said Friday. In its monthly economic assessment report, the ministry presented a positive assessment of private consumption for the second straight month. Last month, the government said domestic demand is "gradually" improving. "Exports and investment have continued to maintain solid recovery momentum, and domestic de
June 11, 2021
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First Paris Baguette store opens in Cambodia
SPC Group is launching the Paris Baguette bakery franchise in Cambodia, opening the first branch in the country‘s capital city, the company said Wednesday. According to SPC Group, the Korean firm behind bakery brand Paris Baguette, it forged ties with Cambodia’s HSC Group to open the first Paris Baguette store in Phnom Penh. Cambodia is the sixth country in which Paris Baguette has launched, and it is the first time the bakery operator has formed a joint venture for its overseas
June 9, 2021
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Duty-free sales surge by 50% on-year in April
South Korea’s duty-free industry in April marked its steepest expansion in three years, signaling a gradual recovery toward pre-coronavirus levels, government data showed Tuesday. According to Korean Statistical Information Service, the duty-free sales index climbed 51.6 percent on-year in April, marking the steepest growth since the 54.6 percent observed in May 2018. The given indicator comprises the combined monthly sales of all duty-free shops here. Sales for shoes and bags skyrocket
June 8, 2021