French aviation authorities have rejected opening flight routes to Paris to T'way Air, the South Korean budget carrier, dealing a blow Korean Air's efforts to acquire Asiana Airlines, according to industry sources on Friday. The industry sources said the French aviation authorities delivered their opposition to T’way Air’s operations in Paris to both the South Korean government and Korean Air, citing "a violation of a mutual agreement between the two countries," m

Industry April 19, 2024

S-Oil, one of major refineries in South Korea, made a donation of 560 million won ($405,000) on Friday to the Korea National Council On Social Welfare to support its ongoing program assisting firefighters and their families, the company said. The KNCSW, a charity organization under the Ministry of Health and Welfare, will allocate the fund to the Heroic Firefighter Protection program. The program covers the medical expenses of injured firefighters, provides scholarships for the children of firef

Companies April 19, 2024

Sungsimdang, a local bakery brand based in Daejeon, outperformed the country's top bakery franchise giants, Paris Baguette and Tous les Jours, logging record sales last year, a regulatory filing showed Friday. Rosso, Sungsimdang's holding company, said the bakery recorded sales figure of 124.3 billion won ($89.7 million) in 2023, a 52.1 percent increase from the previous year’s 81.7 billion won. It is the first time a local bakery has achieved more than 100 billion won in sales w

Companies April 19, 2024

Small business owners are now required to wear a second hat as an online content creator to increase engagement with young consumers, the head of Seoul Business Agency, a business support institution run by the Seoul Metropolitan Government, said at the Global Biz Forum held in Seoul, Wednesday. The GBF, organized by The Korea Herald, is an association of experts from various fields such as business leaders, scholars, diplomats and celebrities, who come together to provide comprehensive views on

Industry April 18, 2024

CJ Olive Young said Thursday it has introduced portable translators supporting 16 languages in its outlets nationwide to enhance the shopping experience for foreign visitors and the work efficiency of its employees. The handheld device supports 16 languages for real-time translation, including English, Chinese, Japanese, Vietnamese, Russian and Mongolian. In addition, they offer sight translation through an attached camera, allowing users to take a picture and see the translated text on the scre

Companies April 18, 2024

SPC Group said Thursday its bakery chain Paris Baguette had launched its first store in the Philippines. The new Paris Baguette branch in Manila features wooden interiors, designed to create a premium European bakery ambiance, and is located on the first floor of the SM Mall of Asia, the largest shopping center in the Philippines, with a total of 90 seats available. In August, SPG Group signed a franchise agreement with a local retailer Berjaya Food Berhad. This deal falls under the so-called &q

Companies April 18, 2024

South Korea witnessed its highest-ever import figures for pineapples and mangoes in March, largely driven by the government’s recent efforts to address the soaring prices of homegrown apples by diversifying demand toward alternative options. According to the Korea Customs Service on Tuesday, the import volume of pineapples reached 8,686 tons, worth $8.68 million, in March, up 44.7 percent from the previous year, marking a record high. Imports of mangoes also more than doubled to 6,264 tons

Industry April 16, 2024

The fast-food chain Burger King unveiled the New Whopper, a revamped version of its signature item on Monday, one week after announcing the discontinuation of sales of the original Whopper. According to an announcement on the fast-food chain's Korean website Monday, the reinvention was focused on intensifying the smokey flavor in the burger patties. Compared with the original Whopper, the new version has a thicker patty to enhance its juiciness and texture, along with additional salt and pe

Companies April 15, 2024

The stock price of New York-listed e-commerce giant Coupang surpassed $20 a share on Friday for the first time in 18 months, following the company's announcement it would raise membership fees by nearly 60 percent. Coupang's stock price closed trading at $21.25 on Friday, marking an 11.49 percent increase from the previous day's closing price of $19.06. Its market capitalization recorded $38.1 billion. The surge in the stock price coincided with the company's announcement ear

Companies April 14, 2024

South Korea's leading ramyeon manufacturer Nongshim plans to prioritize the promotion of Chapagetti, its black bean-flavored ramyeon product, to diversify its overseas marketing appeal. Following Shin Ramyun, its top-selling instant noodle product, the company will now focus on promoting its 40-year-old Chapagetti as the next major brand targeting the global market, a Nongshim official said during a press conference held in eastern Seoul on Friday. "We have previously concentrated on a

Companies April 14, 2024

Chinese e-commerce platforms, including the big three AliExpress, Temu and Shein, saw their Korean sales more than double over the past six months, while their Korean rivals suffered lukewarm sales performance during the same period, according to payment transaction data released Wednesday. According to an analysis report by BC Card, the nation’s largest payment processing company, payments made on Chinese e-commerce platforms soared more than 130 percent from October last year to March th

Industry April 10, 2024

LG Electronics, the South Korean home appliance giant, said Wednesday it donated $100,000 to the National Collegiate Athletic Association, a US-based organization overseeing intercollegiate athletics. The contribution aims to support the NCAA's program dedicated to promoting mental health within collegiate athletics. “We hope this contribution fosters the mental well-being of young athletes, enabling them to pursue successful careers," said Jung Kyu-hwang (center), head of LG Ele

Companies April 10, 2024

Cities with large populations of older residents show greater vulnerability to climate change due to inadequate investment in green infrastructure and spaces such as parks and forests, according to a study conducted by the Korea Advanced Institute of Science and Technology on Tuesday. A research team led by Kim Seung-kyum, professor at the Moon Soul Graduate School of Future Strategy at Daejeon-based KAIST, discovered the correlation between an aging population and its impact on vulnerability to

Industry April 9, 2024

BAT Rothmans, the Korean unit of British American Tobacco, said Tuesday it unveiled a special McLaren livery design inspired by its e-cigarette products for the 2024 F1 Japanese Grand Prix. According to BAT, the unveiling of the livery is part of the "Driven by Change" project, a collaboration campaign between the tobacco company and the McLaren Formula 1 Team. Launched in 2021, this collaborative initiative aims to provide emerging talents worldwide with the opportunity to design li

Companies April 9, 2024

The announcement from Burger King's South Korean operator that it would stop selling its popular Whopper lineup has stirred up controversy and mixed opinions over whether it is merely a marketing stunt or not. Early Monday morning, Burger King informed customers through its website and mobile messenger KakaoTalk about the end of Whopper sales. "Whopper sales will end after 40 years," the announcement read. "We thank everyone who has loved the Whopper all this time." Acco

Companies April 8, 2024