Olive Young’s growth spills over to nearby shops

New Olive Young stores are lifting sales at nearby traditional markets and restaurants, according to a study led by Hanbat National University professor Lee Sung-ho. The study found that sales at traditional markets within 1 kilometer of new branches rose 7.9-18.3 percent. Restaurant sales increased 8.8-18.3 percent, while bakeries, coffee shops and fast-food outlets posted gains of 8.3-17.3 percent. The researchers described Olive Young as an anchor retailer that draws shoppers to surrounding b

2026-09-30 13:08:08:00

Cosmax develops AI model to predict hair loss risk

Cosmax, a South Korean cosmetics manufacturer that develops and produces products for global beauty brands, is expanding into personalized hair care using artificial intelligence and research into scalp differences across ethnic groups. The company said Wednesday it has filed a patent application for an AI model that predicts the risk of alopecia areata, a condition causing patchy hair loss. Trained on about 22 million health screening records from South Korea and Japan, the model analyzes 33 ph

2026-09-30 13:08:00:00

Shinhan deepens Canton ties in digital asset push

Shinhan Financial Group is exploring ways to connect its payment systems and tokenized asset services to the Canton Network, aiming to improve global investors’ access to Korean financial products. The group discussed the plans with Digital Asset co-founder and CEO Yubal Rooz and Canton Foundation President Viv Dhiwakar at its headquarters in Jung-gu, Seoul, on Tuesday. Digital Asset develops the Canton Network, an institutional blockchain supported by the Canton Foundation. The network links fi

2026-09-29 17:28:05:00

Celltrion seeks new partners, clients at CPHI

Celltrion will seek drug development partners, supply agreements and contract manufacturing clients at the Convention on Pharmaceutical Ingredients Worldwide in Milan from Oct. 6 to 8, as it expands beyond biosimilars. The company will focus on potential partners in cancer, obesity and metabolic disorders and autoimmune diseases, aiming to broaden its pipeline and strengthen development capabilities through collaboration with global drugmakers and biotech firms. It will also seek additional raw

2026-09-29 14:27:25:00

KB Kookmin, Kakao explore future of digital assets

KB Kookmin Bank sees a growing role for banks in digital assets, with executives highlighting reserve management and anti-money laundering controls as foundations for trust at a conference co-hosted with Kakao Group on Monday. Next Finance Korea 2026, held at The Westin Seoul Parnas as part of East Point: Seoul 2026, brought together about 150 financial and digital asset industry representatives to discuss market development and the role of financial institutions. In a keynote address, Seo Ki-wo

2026-09-29 14:27:24:00

Meta AI glasses tap Naver Map for hands-free navigation

Meta and Naver will bring voice-guided walking directions to Ray-Ban Meta and Oakley Meta AI glasses by year-end, allowing users to navigate via Naver Map without glancing down at their phones. Naver said it is the first Korean internet company to partner with Meta on artificial intelligence glasses. The collaboration connects the devices to Naver Map’s real-time walking navigation service, launched in June. Users will pair the glasses with the Naver Map app to hear directions through built-in o

2026-09-29 11:26:23:00

Musinsa helps Korean fashion labels break into China

Musinsa is helping 15 Korean fashion brands enter China through a Shanghai pop-up store, offering support from product certification to in-store sales. Backed by the Ministry of Trade, Industry and Resource and the Korea Trade-Investment Promotion Agency, the Musinsa Shanghai Pop-up Store 2026 aims to reduce the costs and practical hurdles small and midsize brands face when entering the market. The store opened Aug. 21 and runs through Nov. 30 at Jing An Kerry Centre on Nanjing West Road, a majo

2026-09-28 13:58:24:00

Hana Financial brings private 5G to new Cheongna headquarters

Hana Financial TI, Hana Financial Group’s information technology services arm, has built a private 5G network at the group’s new Cheongna headquarters in Incheon to support flexible workspaces for about 3,000 employees. Developed with SK Telecom and Samsung Electronics, the network covers 16 floors. Hana Financial TI led the installation, with SK Telecom providing network design and technical support, while Samsung supplied key communications equipment. The headquarters completes the group’s Han

2026-09-28 13:58:18:00

Korean Air’s unused mileage hits W3tr as redemptions decline

Korean Air’s deferred revenue related to unused mileage stood at 3.1 trillion won ($2.3 billion) at the end of the first half of this year, according to the Ministry of Land, Infrastructure and Transport on Sunday, The figure was up 9.7 percent from 2.8 trillion won at the end of last year. Deferred mileage revenue refers to the accounting value of services that an airline is obligated to provide in the future in connection with unused customer mileage. Asiana Airlines had 936.1 billion won in d

2026-09-28 11:03:31:00

Korea's regional districts turn local culture into tourism destinations

From local food traditions to historic streets and cultural landmarks, regional cities across South Korea are turning their distinctive assets into tourism destinations as the government seeks to draw international visitors beyond Seoul and revitalize local economies. The two-year initiative, led by the Small Enterprise and Market Service, will support about six commercial districts outside Seoul. Each one can receive up to 5 billion won ($3.68 million) through the end of 2027. The program cente

2026-09-27 13:57:46:00