Articles by Hwang Joo-young
Hwang Joo-young
flylikekite@heraldcorp.com-
Coupang denies speculations of buying Homeplus Express
South Korean e-commerce giant Coupang said Friday it is not considering acquiring a part of Homeplus, a supermarket chain grappling with poor performance in recent years. The announcement was made in response to local media reports suggesting that Coupang plans to acquire Homeplus Express from MBK Partners, the private equity fund that owns Homeplus. Homeplus' supermarket business comes in two types: Homeplus, a large discount store, and Homeplus Express, a smaller hypermarket. Homeplus o
Companies July 12, 2024
-
Starbucks Korea vows to donate W1b for cultural preservation
Starbucks Korea said Thursday it has partnered with the country’s heritage service organizations to intensify its contribution to cultural preservation efforts. Starbucks Korea, the Korea Heritage Service and the National Trust for Cultural Heritage agreed to establish a national heritage protection fund during a ceremony held at the Starbucks Hwangudan branch in Seoul on Thursday. The event was attended by Starbucks Korea CEO Sohn Jeong-hyun, Korea Heritage Service Administrator Choi Eung
Companies July 11, 2024
-
McDonald’s unveils new Taste of Korea items
McDonald's Korea has introduced new items under its "Taste of Korea" lineup -- including a cheeseburger and a chicken muffin featuring locally sourced peppers -- highlighting its commitment to collaborating with rural areas across the country. In its fourth edition since 2021, this year’s Taste of Korea lineup focuses on peppers produced in Jinju, South Gyeongsang Province, in the Jinju Pepper Cream Cheese Burger and Jinju Pepper Cream Cheese Muffin. “McDonald’s
Companies July 11, 2024
-
Korean builders association explores new opportunities in Vietnam
The Korea Housing Builders Association said Wednesday that its special delegation is visiting Vietnam this week to explore new opportunities in the Southeast Asian country where diverse development projects are underway to boost the vibrant economy. The delegation consists of 13 members, led by Chairman Jung Won-ju, who doubles as chairman of Daewoo Engineering & Construction. They departed for the seven-day trip on Saturday, during which they plan to meet with government and business leader
Industry July 10, 2024
-
Coupang to raise membership fee from Aug. 7
Korean e-commerce giant Coupang said Monday it will raise its membership fee for existing members from 4,990 won ($3.60) to 7,890 won starting Aug. 7, prompting mixed expectations about the impact of the fee hike. This move follows Coupang’s decision to increase its membership fees for new members to the same price of 7,890 won starting on April 13. Coupang counted approximately 14 million members as of last year, more than double the 6 million in 2020 when it launched the membership servi
Companies July 8, 2024
-
Hyosung wins W330b transformer order from Norway
South Korea’s Hyosung Heavy Industries said Monday it secured a 330 billion won ($240 million) deal to supply 420-kilovolt high-voltage transformers to Norway’s electricity agency Statnett. The project aims to expand infrastructure for renewable energy and replace aging facilities in phases by 2029. Out of the total order, Hyosung signed a deal for the first batch, valued at 304 billion won, Friday. Hyosung attributed the latest deal to its expertise spanning from design to installat
Companies July 8, 2024
-
Ex-TV journalist nominated as new broadcasting regulator chief
Lee Jin-sook, former president of Munhwa Broadcasting Corporation’s Daejeon unit, has been nominated as the new chairperson of the Korea Communications Commission, the presidential office announced Thursday. The 63-year-old started her career at Munhwa Broadcasting Corporation, also known as MBC, as a news reporter in 1987. Lee was South Korea's first female war correspondent, covering the Gulf War in 1991 and the Iraq War in 2003. In recognition of her contributions, she received the
Politics July 4, 2024
-
Starbucks Korea launches campaign to celebrate 25th anniversary
Starbucks Korea is launching the Festival for All promotional event to celebrate the 25th anniversary of its operations in the nation, the coffee giant announced Thursday. This seven-day event kicks off Friday and features new food and beverage products from overseas branches. For beverages, the company will showcase its French vanilla latte and "The Melon Of Melon Frappuccino," initially launched in the US and Japan, respectively. The French vanilla latte includes two shots of blonde
Companies July 4, 2024
-
Policy veteran tapped as forest service minister
Lim Sang-seop, former deputy minister of the Korea Forest Service, has been nominated as the new minister of the agency, the presidential office announced Thursday. The 54-year-old is a seasoned forest expert with extensive experience in both policy and fieldwork. He joined the forestry agency in 1998 after passing the higher technical civil service examination and has held various positions within the organization. The presidential office praised Lim as an expert who has contributed to enhancin
Politics July 4, 2024
-
GS launches AI-driven hackathon to spur DX innovation
Korean energy, retail and construction conglomerate GS Group launched its annual hackathon on Wednesday, running to Thursday, centered on artificial intelligence to drive digital transformation across the company. GS Group has hosted such hackathon events since 2020, but this marks the first year participants are allowed to use generative AI, including ChatGPT, with the aim of enhancing AI utility capabilities among employees. "With the advent of generative AI, we've entered a peri
Companies July 3, 2024
-
Posco chief vows W200tr market cap by 2030
Posco Group Chairman Chang In-hwa announced that the group plans to integrate advanced materials into its core operations, alongside steelmaking and secondary battery materials, aiming to double sales to 5 trillion won ($3.6 billion) by 2030. "Let’s restore our core competitiveness and trust across our business, management and organizational culture, boldly innovate beyond our limits, and strive toward the future," Chang said during a meeting in Pohang, North Gyeongsang Province,
Companies July 2, 2024
-
Antitrust watchdog to sanction AliExpress for violating e-commerce laws
The Fair Trade Commission has launched formal proceedings to sanction Chinese e-commerce giant AliExpress for alleged violations of e-commerce laws. According to industry sources on Monday, the FTC recently issued a review report outlining sanctions against AliExpress for failing to report its basic business information to the government. Under the Act on the Consumer Protection in E-Commerce, operators of e-commerce platforms must report their business name, email address, internet domain name
Industry July 1, 2024
-
[From the Scene] Amazon courts K-beauty sellers on robust sales
US-based e-commerce giant Amazon is increasingly reaching out to Korean beauty product makers to join its sprawling online platform, where demand for “K-beauty” products is soaring globally. Amazon Global Selling Korea, the Korean unit, held the Amazon K-Beauty Conference -- the first exclusively dedicated to Korean beauty products -- at a Seoul hotel on Thursday. Co-hosted by Kolmar Korea, Korea's leading original design manufacturer for global beauty brands, the event attrac
Companies June 30, 2024
-
Kumho's EV tire wins acclaim in Europe
South Korean tire maker Kumho Tire said Wednesday its electric vehicle tire product, Ecsta HS52, has been recognized for its high-quality technology by the European automotive magazines ADAC and Auto Bild. ADAC and Auto Bild are two of the most influential automotive magazines in Europe and globally, known for their content on cars and related products, as well as their extensive performance testing. Kumho Tire’s Ecsta HS52 received a "good" rating from ADAC in their summer tire
Companies June 26, 2024
-
Posco boasts full value chain for secondary batteries
GYWANGYANG, South Jeolla Province -- South Korean steel giant Posco announced Tuesday that it has successfully established a full value chain for secondary battery materials and components. “We anticipate that as the (electric vehicle) market grows, the value of raw materials within the battery supply chain will increase, and thus we plan to accelerate investments focused on high-profit raw materials,” said Baung Jin-chul, vice president of Posco Holdings, during a press conference h
Companies June 26, 2024
Most Popular
-
1
Assembly vote on Yoon Suk Yeol's impeachment set for 4 p.m. Saturday
-
2
Two Korean business leaders make Forbes list of 'most powerful women'
-
3
Assembly ejects Yoon from power after 12-day political turmoil
-
4
[Breaking] South Korea's parliament votes to impeach Yoon Suk Yeol
-
5
[From the Scene] College students hold joint rally to urge Yoon’s impeachment
-
6
Opposition leader urges ruling party lawmakers to vote for Yoon Suk Yeol impeachment
-
7
'When the Phone Rings' sparks renewed interest in original web novel
-
8
Courts condemn arrest order for judge as threat to judicial independence
-
9
Yoon suspended amid impeachment. What’s next?
-
10
Small minority of young 'shy Yoon supporters' emerge in Korea's polarized politics