Confusion ensues over preliminary designation of ‘monopolistic’ platform operators

Korean instant noodle boom puts decades-old industry dilemma under renewed spotlight

Hyundai Motor Group is highly likely to surpass the 100-million-vehicle sales mark this year, 56 years after it started selling cars in Korea in 1968. According to the carmaker on Monday, it has sold close to 97 million vehicles around the world as of last year. Of these, about 24 million were sold in Korea's domestic market, accounting for approximately 25 percent of total sales, while the remaining 73 million, or 75 percent, were sold internationally. To achieve the 100 million milestone,

South Korea secured its place among the world's top 10 defense exporters for the second consecutive year in 2023 with approximately $14 billion in exports, anticipating continued demand this year bolstered by substantial deals already in place. Data from the Korean Ministry of National Defense and domestic defense companies published on Monday show that Korea, ranking ninth globally behind Spain, expanded its export markets to 12 countries last year, including new partners like the United A

South Korea ranked fourth in the world in terms of the number of Starbucks stores in the country, following the United States, China and Japan, with an increase of over 100 new stores in 2023. According to the Starbucks global website on Sunday, the number of stores in Korea at the end of last year stood at 1,893, marking an increase of 116 from the previous year. There are 38,587 Starbucks stores worldwide, with the US hosting the largest number at 16,466, followed by China with 6,975 stores. T

CJ Logistics, the nation’s largest logistic firm, affiliated with retail giant CJ Group, is speeding up its overseas expansion this year, according to industry sources on Monday. Its Indian subsidiary, CJ Darcl Logistics, aims to make its stock debut in the first half of the year, while the company plans to start construction of three massive distribution centers in the US later this year. CJ Logistics, commanding 45 percent of the domestic parcel delivery market, has been steadily expandi

Samsung Electronics Chairman Lee Jae-yong last week renewed his will to continue bold investments despite business uncertainties upon his visit to the construction site of a new 1.7 trillion won ($1.2 billion) battery plant in Malaysia. According to the tech giant on Monday, the Samsung chief on Friday visited the Malaysian city of Seremban where Samsung SDI, the battery-making arm of Samsung Group, is building its second plant with its completion set for 2025. Samsung SDI aims to bolster its re

Electric cars accounted for 9.3 percent of newly purchased cars in South Korea last year, data showed Monday, hovering above that of other major counterparts, including the United States and Japan. The electric vehicles (EVs) took up 162,507 of 1.74 million cars sold in South Korea in 2023, according to the data compiled by the Ministry of Land, Infrastructure and Transport. The ratio marked a significant rise from just 1.9 percent tallied in 2019. The figure, however, fell slightly from 9.7 per

South Korean whiskey providers are searching for new import markets like those in Taiwan, India, Spain and Australia, as consumers here crave new varieties at reasonable prices. “Local demands for affordable whiskey products are increasing with the surge of people consuming highball cocktails. Yet, whiskey products from major whiskey producers such as the UK, the US and Japan are expensive and less available to local consumers,” an industry source said. “Whiskey products from A

An artificial intelligence chatbot developed by Thingsflow, a South Korean startup, has been selected as Global Featured on Google Play for the first time as a Korean chatbot service, according to the company Sunday. Thingsflow's Hellobot is a first-generation AI chatbot platform where anyone can easily create and distribute chatbots with unique expertise, such as love tarot, personality and psychological analysis, fortune telling and others. With the selection as Global Featured on Google

South Korea's imports of coffee topped $1 billion for two straight years on its growing popularity here, customs data showed Sunday. The combined value of imported green and roasted coffee beans reached $1.11 billion in 2023, compared with $1.3 billion a year ago, according to the data from the Korea Customs Service. Last year, the country imported 193,000 tons of coffee, down from 205,000 tons a year ago. South Korea's coffee imports had been on a steady rise since 2018 as an increasi

Rolls-Royce Motor Cars is commemorating the year 2024 ahead of the Lunar New Year with limited Year of the Dragon Bespoke Commissions, featuring four distinctively designed vehicles, exactly 12 years after its first dragon-themed Phantom in 2012, which sold out in China within two months of release. Introduced last Friday, the 2024 exclusive collection includes three extended versions of the Phantom and one Cullinan sport utility vehicle, each adorned with design elements inspired by the dragon,

Exports of soju, distilled Korean liquor, topped $100 million for the first time in 10 years in 2023, data showed Saturday. According to the Korea Customs Service, outbound shipments of soju reached $101.4 million in 2023, an increase of 8.7 percent from 2022. The last time soju exports surpassed $100 million was in 2013. Soju is a distilled liquor made of ethyl alcohol and water, with the addition of sweeteners. An industry source said soju sold overseas had been mostly consumed by South Korean

A better-than-expected inflation report for January bolstered hopes that price hikes is near its end -- but consumers are still wary as the cost for some food items for Lunar New Year ceremonies continues to soar. “I have visited two different discount stores and searched online shopping platforms to compare prices and buy cheaper fruits and other food items that I need for family gatherings during the Lunar New Year holiday,” Lee, 63, a woman living in Gyeonggi Province said. Among

The top 10 percent of content creators accounted for 76 percent of all creators’ total income in 2022, according to data released Thursday. The National Tax Service data, obtained and released by Rep. Yang Kyung-sook of the Democratic Party of Korea, put the number of people who reported income as individual media creators at 39,366 in 2022 and their total aggregated income at 1.14 trillion won ($859 million). The data showed that the majority of the income is concentrated among some highl