EBay Japan chief vows to advance K-beauty growth in Japan

The future of Korean beauty in Japan looks promising to Koo Ja-hyun, CEO and vice president of eBay Japan, who announced at a beauty conference on Friday the company's initiative to help 20 K-beauty brands exceed one trillion won ($690 million) in value within the next three years. In an interview on the sidelines of the 2025 Qoo10 Japan K-Beauty Mega Conference, co-hosted by eBay’s e-commerce platform Qoo10 Japan and Korean cosmetics manufacturer Cosmax, Koo expanded on his vision of K-beauty b

March 14, 2025

Homeplus downplays bankruptcy fears, commits to full debt repayment

South Korean supermarket chain Homeplus has pledged to fully repay its vendors, prioritizing small businesses, while apologizing for heightened concerns over its financial stability following a court's approval of its entry into a corporate rehabilitation program earlier this month. At a press conference on Friday, Homeplus CEO Joh Ju-yeon announced the company had repaid 340 billion Korean won ($234 million) in commercial receivables and assured that most debts to small business owners would so

March 14, 2025

Homeplus’ financial crunch explained in 2 minutes

The Seoul Bankruptcy Court approved South Korea's No. 2 supermarket chain Homeplus' corporate rehabilitation request just 11 hours after filing on March 4. The company called it a preemptive move to manage short-term debt after a credit downgrade. On Feb. 28, Korea Investors Service downgraded Homeplus’s credit rating from A3 to A3- due to weak profitability and high debt. After court-approved rehabilitation, it dropped to D on March 4. However, concerns over Homeplus' financial health have deep

March 14, 2025

Hanwoo industry says 'No' to lifting ban on beef from older US cattle

The Hanwoo Association, a nonprofit overseeing Korea’s beef industry, has strongly opposed lifting the 2008 ban on imports of US beef from cattle over 30 months old, citing potential public unease over mad cow disease. In a statement released Wednesday, the association warned on behalf of Korean livestock farmers that scrapping the 30-month restriction could lead to the spread of bovine spongiform encephalopathy, or mad cow disease, which in turn could dampen the consumption of both US and Korea

March 13, 2025

7 in 10 Koreans suffer restless sleep, many neglect care: Philips

Philips Korea advises patients with sleep disorders to seek active treatment such as CPAP therapy to manage conditions like sleep apnea Philips Korea, the local unit of multinational health technology company Philips, announced Wednesday the findings of a survey revealing that many Koreans struggle with poor sleep quality but do not seek active treatment for sleep disorders, particularly for breathing-related conditions like sleep apnea. The survey conducted by Hankook Research on behalf of Phil

March 12, 2025

LX Pantos expands footprint in US with $120m Georgia logistics hub

Korean logistics company LX Pantos, in collaboration with the state-run Korea Ocean Business Corporation, has acquired a large-scale logistics center in Georgia, US, to anchor a key export hub for Korean firms while bolstering its supply chain competitiveness, the company said Tuesday. According to the logistics company, a signing ceremony was held last Friday in Dalton, Georgia, to formalize the deal. Attendees included LX Pantos CEO Lee Yong-ho, KOBC Director of Business Operations Yoon Sang-h

March 11, 2025

Korea’s economic freedom declines, labor market lags

South Korea’s overall economic freedom ranking fell to 17th from 14th in this year’s Heritage Foundation Index of Economic Freedom, with its lowest score in the labor market category, where it ranked 100th. According to the Korea Enterprises Federation on Monday, the 2025 Index of Economic Freedom, published by the conservative US think tank the Heritage Foundation, gave South Korea an overall score of 74 out of 100 — an increase from 73.1 the previous year. However, the country dropped three sp

March 10, 2025

KGC awarded for ginseng research at US expo

Korea Ginseng Corp., the country’s leading ginseng manufacturer, announced Monday that it received the Varro E. Tyler Award at the 2025 Natural Products Expo West, held last week in Anaheim, US, for its phytomedicinal research on ginseng. According to the company, the award, presented by the American Botanical Council in recognition of outstanding contributions to the field of herbal medicine and pharmacognosy, honors its commitment to proving the health benefits of ginseng through clinical rese

March 10, 2025

Choco Pie’s global success explained in 2 minutes

Choco Pie, a round cake-like snack with a marshmallow filling and chocolate coating, is the brainchild of South Korean confectionery maker Orion. Branded with the Chinese character for "jeong" — a deep sense of affection and hospitality — the proiduct carries a distinct Korean essence that embodies the core value of sharing love. Now, far beyond its homeland, the treat has won over more non-Koreans, selling more overseas than in the birthplace of jeong. History of marshmallow cookie 1956: Lee Ya

March 10, 2025

Convenience stores propel K-food’s global reach

Top two chains CU, GS25 target $10 million in exports this year South Korea’s convenience store chains, led by industry frontrunners CU and GS25, are making bigger waves globally, riding the K-food boom with their exclusive products. GS25, the country's largest convenience store brand by sales, is solidifying its presence in overseas markets with its YouUs private-label products and exclusive offerings at the forefront. Strategic partnerships — most notably a collaboration with Netflix to create

March 7, 2025