Temu expands data sharing overseas amid lingering privacy concerns

With its recent plan to directly enter the Korean market, Chinese e-commerce platform Temu has moved to share Korean users' personal information overseas while broadening its network of external data handlers. According to Temu’s latest privacy policy update on Friday, the personal information of Korean customers will be entrusted to both domestic and international third-party companies for “efficient service provision.” Users who refuse to consent to this transfer will be unable to use the plat

Feb. 21, 2025

Daewoo E&C chair to lead KFCC as new president

South Korean builder Daewoo Engineering & Construction Chairman Jung Won-ju has taken the helm as president of the Korea Federation of Construction Contractors, stepping in to guide Korea's construction industry through uncertain times. The KFCC announced Wednesday that Jung was unanimously elected during its regular general meeting in Seoul. His three-year term runs through February 2028. "I feel a heavy responsibility taking on this role at a time when the construction industry is struggling d

Feb. 19, 2025

CJ CheilJedang debuts K-food at US military bases in Guam

South Korean food giant CJ CheilJedang has begun selling its Korean food products at US military bases in Guam, marking a strategic expansion to bring Korean food to the broader US military community. According to the company on Wednesday, a variety of K-food items have hit the shelves at commissaries within US military bases in Guam. The lineup includes 14 products across four categories: three types of dumplings, six varieties of tteokbokki, or spicy Korean rice cakes, three types of instant r

Feb. 19, 2025

Imports of Korean powdered milk soar in Southeast Asia

Korean powdered milk products have surged in popularity across Southeast Asia, with exports nearly tripling over the past decade as demand for Korean formula remains on the rise, data showed Tuesday. According to data from the Korea Agro-Fisheries & Food Trade Corp., or aT, powdered milk exports to the 10 member nations of the Association of Southeast Asian Nations hit a record high of $30.7 million last year, up from $10.5 million in 2014. The export volume also saw a sharp rise, reaching 2,465

Feb. 18, 2025

Pungent pride? Certification for Hongeo paves way for exports

Fermented skate, Korea’s pungent delicacy known as hongeo, may soon be designated as a traditional seafood product, South Korea’s Ministry of Oceans and Fisheries announced Monday. According to the National Fishery Products Quality Management Service under the ministry, research has determined that fermented skate meets the criteria for designation as a traditional seafood product. Once the final review is complete, it will join the official roster. The designation would open doors for fermented

Feb. 17, 2025

Secondhand market app Karrot hits 2 million users in Canada

Korean service provider Danggeun Market announced Monday that its marketplace app, Karrot, has reached 2 million accumulated users in Canada -- an achievement that advances the company's push into the broader North American market. According to the company, Karrot doubled its Canadian user base to 2 million in just nine months, after taking two years to reach its first million users in May last year. The rapid growth is attributed to strengthened local strategies and expanded service coverage ac

Feb. 17, 2025

Starbucks Korea's dominance explained in 2 minutes

Starbucks made history in Korea last year as the first coffee chain to surpass 3 trillion won ($2.06 billion) in annual sales. This milestone, which leaves its coffee competitors in the dust, highlights the dramatic ascent of the US coffee chain in Korea -- from its first store in 1999 to becoming the brand’s third-largest market worldwide. Management history September 1997: Starbucks Korea began as a 50-50 joint venture between E-Mart and Starbucks International. July 2021: Starbucks Internatio

Feb. 13, 2025

Hyundai E&C lands W1tr contract to redevelop Hilton Seoul

Hyundai Engineering & Construction announced Thursday it has secured a 1 trillion won ($687 million) contract to redevelop the former Millennium Hilton Seoul site into a premier mixed-use landmark in the capital. The redevelopment, estimated at 1.18 trillion won in total construction costs, will transform the site near Namsan and Seoul Station into a large-scale mixed-use complex spanning 349,000 square meters, featuring high-end office towers and a six-star hotel, with 40 percent of the total l

Feb. 13, 2025

KMI celebrates launch of health care center for global patients

The Korea Medical Institute announced Wednesday that it held a commemorative event to mark the opening of its new health care center, aimed at enhancing medical services for foreign visitors. The event, titled Global Partners Day, took place last Friday and celebrated the Jan. 20 opening of the International Healthcare Center at the institute’s newly expanded Gwanghwamun Center. The new international unit aims to provide international visitors with customized medical checkups and improved access

Feb. 12, 2025

Hanwha Hotels to acquire Ourhome in W870b deal

Hanwha Hotels & Resorts announced on Tuesday that it has signed a stock purchase agreement to acquire a 59 percent stake in Ourhome, a leading Korean food catering company. In a regulatory filing, the company stated that it plans to acquire a 58.62 percent stake in Ourhome for 869.5 billion won ($598 million). Ourhome's market value is estimated at about 1.5 trillion won. This decision was made in a board meeting Tuesday morning in which discussions on the acquisition deal were finalized. The sh

Feb. 11, 2025