AliExpress, Temu surge in Korea, topping W4tr in transactions

Chinese e-commerce platforms AliExpress and Temu have been rapidly gaining traction in South Korea, reportedly generating over 4 trillion won ($2.7 billion) in transactions last year -- an 85 percent increase from the previous year. According to data released on Tuesday by market research firm WiseApp Retail Goods, the combined transaction volume for both platforms was estimated at 4.28 trillion won, with AliExpress accounting for 3.69 trillion won and Temu for 600 billion won. The combined figu

Feb. 11, 2025

CJ chief backs mobile live commerce on site visit

CJ Group Chair Lee Jae-hyun conducted his first workplace visit of the year to the group's live commerce unit, showing his commitment to fostering growth in the mobile commerce sector, the group said Monday. According to the group, Lee visited the headquarters of CJ OnStyle, the commerce division of CJ ENM, in Seoul on Friday to inspect operations and commend employees for the division's significant advancement in mobile live commerce last year. "I highly commend CJ OnStyle for driving market ch

Feb. 10, 2025

How Starbucks stays unrivaled on Korean turf

Coffee chain on track for record sales of W3tr; Korea boasts higher Starbucks store density than US or China In the capital of South Korea, where Starbucks' green glow beckons from what can seem like nearly every corner, the brand is deeply embedded in the local coffee scene -- and the lifestyle that brews with it. Through the whirlwind of Korea's ever-shifting coffee economy, Starbucks Korea has not just survived but dominated, with both sales and store numbers steadily climbing. One might rais

Feb. 10, 2025

IUFRO chief lauds Korea's rehabilitated forests, advises on future management

From postwar desolation to reforestation excellence, South Korea has been planting seeds of a green future both in Korea and beyond. Examining this transformative path is Daniela Kleinschmit, president of the International Union of Forest Research Organizations and chair of Forest and Environmental Policy at the University of Freiburg, Germany, who recently visited Seoul. In an interview with The Korea Herald, Kleinschmit, as the head of a global network for forest science cooperation, examined

Feb. 9, 2025

Korea, IUFRO open new horizons in forest science cooperation

Daniela Kleinschmit, president of the International Union of Forest Research Organizations, paid her first official visit to Korea in mid-December since assuming leadership, marking a step toward bolstering international cooperation in forest research and sustainable forest management. IUFRO, established in 1892 and headquartered in Vienna, Austria, stands as a nonprofit and nongovernmental organization that leads the global network for forest science cooperation. Through its extensive network,

Feb. 9, 2025

Korean Air revenue soars to record high on travel recovery, e-commerce boom

Korean Air said Friday it had logged its highest-ever annual revenue in 2024, with operating profit in the fourth quarter increasing by nearly 160 percent on the heels of an ongoing recovery in air travel demand and increased cargo demand fueled by foreign e-commerce deliveries. According to the national flag carrier, on a nonconsolidated basis revenue last year hit all-time high of 16.1 trillion won ($10.9 billion), up 10.6 percent year-on-year from 14.5 trillion won. While its operating profit

Feb. 7, 2025

AmCham chief joins promotion committee for APEC CEO Summit

The American Chamber of Commerce in Korea announced Wednesday that Chair and CEO James Kim has been appointed as a member of the promotion committee for this year’s Asia-Pacific Economic Cooperation CEO Summit. The 2025 APEC CEO Summit, set for Oct. 28-31 in Gyeongju, North Gyeongsang Province, will serve as a key platform for global business leaders, policymakers and thought leaders to exchange insights on pressing economic challenges and emerging industries such as energy transition, digital i

Feb. 5, 2025

Philip Morris debuts Iqos Iluma i series in Korea

Philip Morris Korea, the Korean branch of US tobacco giant Philip Morris International, announced Wednesday the launch of the "Iqos Iluma i" series, its latest flagship heated tobacco product expected to advance the company’s vision of a smoke-free future. With this new two-model lineup, the company aims to strengthen its presence in Korea’s competitive tobacco market and expand its range of smoke-free alternatives, eight years after introducing its first Iqos product in the country in 2017. "Iq

Feb. 5, 2025

AmCham reaffirms Korea-US ties at Trump’s inauguration

The American Chamber of Commerce in Korea said Tuesday that it has engaged in meaningful dialogue with key US figures during its visit to Washington for President Donald Trump’s inauguration on Jan. 20, reaffirming the enduring strength of the Korea-US alliance. According to AmCham, a series of high-level meetings with US policymakers, business leaders and think tanks centered on the importance of continued collaboration between the two nations in addressing global challenges such as supply chai

Feb. 4, 2025

LX Pantos, Japan's ONE form joint venture for US expansion

Korean logistics company LX Pantos announced Tuesday the establishment of a US-based joint venture with Japanese shipping company Ocean Network Express, aiming to expand inland transportation services across the American market. The venture, named Boxlinks and owned 51 percent by LX Pantos and 49 percent by ONE, will enable the two entities to fully enter the intermodal transportation sector in the US, providing integrated logistics services that combine rail and truck transportation. Since 2023

Feb. 4, 2025