Incheon Airport tops 1 billion passengers, fastest among global hubs

Incheon International Airport Corp. said Tuesday that Incheon Airport has surpassed 1 billion cumulative passengers just over 25 years after opening, reaching the milestone faster than any other major international airport. The airport, which opened in March 2001, reached 100 million cumulative passengers in 2005 and 500 million in 2016 before surpassing the 1 billion mark this month, a trajectory that mirrors the country's rise as a major aviation hub. Other major airports took years longer to

2026-07-07 14:33:34:00

Paik's Coffee rebrands ahead of Japan debut

South Korean budget coffee chain Paik's Coffee unveiled a new global brand identity Tuesday, laying the groundwork for the opening of its first Japanese store next month. Theborn Korea, the chain's operator led by celebrity chef Paik Jong-won, said it had adopted the English-language logo "Paik's Dabang" to replace its Korean-centric branding, aiming to make the name more recognizable abroad while preserving "dabang," a traditional Korean word for coffeehouse. The rebranding comes as Paik's Coff

2026-07-07 13:04:15:00

The battle for basics: Musinsa vs. Uniqlo

Musinsa reclaimed the lead in card payments among South Korea's fashion retailers in June, overtaking Uniqlo just a month after the Japanese giant briefly held the top spot, in the latest sign of an intensifying rivalry. Data from WiseApp Retail shows Monday that Musinsa recorded an estimated 347.3 billion won ($228 million) in card payments in June, up 27.3 percent from a year earlier and representing a 30.9 percent share among the country's 10 largest fashion retailers, including Uniqlo, Zara,

2026-07-06 14:09:00:00

How Spain's one-network model helps Malaga take off

Korea Herald correspondent MALAGA, Spain — At Malaga-Costa del Sol Airport in southern Spain, travelers move with the ease of commuters passing through a well-run railway station — local in character despite the constant stream of international arrivals. The gateway to the Costa del Sol ranks as Spain's fourth-busiest airport, after Madrid, Barcelona and Palma de Mallorca, with passenger traffic more than doubling over the past decade to top 25 million travelers in 2025. Airport officials trace

2026-07-06 08:08:14:00

Capital Group lifts KT&G ownership to 8.2%

KT&G said Friday that Capital Research and Management Company has raised its stake in the cigarette maker to 8.22 percent, extending a run of purchases that signal growing foreign confidence in its overseas growth. The US asset manager now holds about 8.53 million KT&G shares, up from 7.21 percent in June and 5.61 percent in May, according to regulatory filings. The latest disclosure shows Capital Group has added roughly 1 million shares since its previous filing. "The steady stake increases fro

2026-07-03 15:59:28:00

K-beauty giants post record Amazon sales in US, Europe

Amazon's biggest shopping event of the summer offered fresh proof of South Korea's staying power in beauty, as K-beauty's new and old guard, APR and Amorepacific, posted their strongest US and European sales yet. APR said Friday its flagship brand, Medicube, recorded its highest-ever sales during Amazon Prime Day, which ran from June 23-26, becoming the most-searched brand across all product categories in the US. Several Medicube products ranked among Amazon's top beauty and personal care seller

2026-07-03 14:48:09:00

Homeplus nears liquidation as court ends rehabilitation process

The Seoul Bankruptcy Court terminated Homeplus's rehabilitation proceedings Friday, pushing the retailer closer to liquidation and leaving it a narrow 14-day window to secure fresh funding and appeal the ruling. The court found that Homeplus's revised rehabilitation plan, submitted Tuesday and calling for the closure of unprofitable stores, business transfers, and mergers and acquisitions, lacked a realistic prospect of success. "At least 200 billion won in operating funds is needed to continue

2026-07-03 14:25:22:00

Daewoo E&C makes US comeback with New Jersey housing project

Daewoo Engineering & Construction is committing nearly $300 million to a residential housing project in New Jersey, marking its return to the US property market after nearly two decades as it works to build a long-term development platform in North America. The builder said Friday it will invest $291 million to build an 18-story, 540-unit apartment complex in Palisades Park, a Bergen County borough that is home to a large Korean American community. The complex will also have retail space and par

2026-07-03 11:44:50:00

Van Leeuwen scoops New York flavors into Gangnam

US ice cream brand Van Leeuwen is making its debut in South Korea, opening its first store near Gangnam Station on Friday as the Brooklyn-born company looks to tap into one of Asia's most influential food markets. The 32-seat shop, operated by franchise partner A Twosome Place, pays homage to the brand's origins through a display of the yellow ice cream truck from which founders Ben Van Leeuwen, his brother Peter and their partner Laura O'Neill launched the business in New York in 2008. "We beli

2026-07-02 14:30:58:00

Seoul rejects US House claims of bias against American firms

South Korea on Thursday rejected allegations by the US House Judiciary Committee that it systematically discriminates against American companies, calling the claims factually inaccurate and saying Korean authorities enforce regulations fairly regardless of nationality. "We regret that the report released by the House Judiciary Committee on Wednesday appears to unilaterally reflect only Coupang's arguments," Foreign Ministry spokesperson Park Il said during a regular briefing. Park said investiga

2026-07-02 14:29:52:00