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

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

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

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

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

Big companies in South Korea increased their investments in research and development activities last year despite decreased earnings, a corporate data tracker said Tuesday. Their combined R&D investments rose 9.4 percent to 73.42 trillion won ($54 billion) in 2023 from 67.14 trillion won a year earlier, according to a recent survey of 224 firms by the data tracker CEO Score. They suffered declines in sales and operating profit due to an economic slowdown but they executed their planned R&

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

CJ Foodville, the operator of the South Korean bakery chain Tous Les Jours, said Monday it plans to establish a training center in the US aimed at enhancing the service and operational expertise of its local franchisees there. This initiative comes as CJ Foodville has recently experienced an increasing number of inquiries from Americans interested in operating Tous Les Jours franchise outlets in the US, the company added. According to CJ Foodville, contracts for new franchise openings have alrea

LG Group Chairman Koo Kwang-mo on Thursday lost a lawsuit he filed together with his family members to recoup part of the near 1 trillion won ($735.7 billion) in inheritance taxes imposed following the death of former Chairman Koo Bon-moon. After the former chairman's death in 2018, a combined 990 billion won in taxes were imposed on Koo Kwang-mo and other members of the owning family for their inheritance worth about 2 trillion won that included an 11.28 percent share in LG Corp., the hold

Hyosung TNC, the fiber production unit of South Korean industrial giant Hyosung Group, said Wednesday it will invest 1 trillion won ($740 million) in Vietnam to establish a new spandex material plant. Hyosung TNC secured approval for the investment from the Vietnamese government during a city development conference for Ba Ria-Vung Tau, a local province of the Southeast Asian country, held Saturday. With the approval, the company will commence construction of a facility in Ba Ria-Vung Tau capable

South Korean cosmetics giant Amorepacific said Tuesday that its premium skincare brand Sulwhasoo has released its 2023 Sustainability Report, detailing the brand's sustainability initiatives and achievements. Sulwhasoo published the first standalone sustainability report by a brand under Amorepacific. The report comprises three chapters: ginseng, the environment and culture. The first chapter explores Sulwhasoo's journey with ginseng, transitioning from its use in food to beauty produc

South Korean liquor giant HiteJinro said Tuesday that its beer brand Kelly had exceeded 360 million bottles in sales as of March 26, a significant milestone within one year of its launch in April 2023. This achievement is equivalent to selling 11.5 bottles every second, the company said. Kelly's performance has propelled HiteJinro's sales growth. Last year, the liquor manufacturer posted 823.3 billion won ($607.6 million) in beer sales, marking a 5 percent increase from the previous ye

South Korean financial groups have undergone a transition in their board composition, indicating governance changes centering on gender diversity and internal control. Given that a financial holding company’s board is the ultimate decision-making body engaging in establishing management strategies and budget planning for itself and its affiliated banking and securities units, the changes give a glimpse of the future direction that the groups are pursuing. Here are the key takeaways from

Korea Ginseng Corp., the country's leading ginseng manufacturer, said Monday that it has appointed An Bin, the company's former global business chief, as its new CEO. “In order to transition into a global top-tier comprehensive health company, we must adopt a 'Global One Market' approach that combines both domestic and overseas markets," An, 51, said in his inauguration remarks. “We will aim to maximize profits in overseas markets while at home we will take a

South Korean food giant CJ CheilJedang said Monday it has started selling plant-based dumplings at grocery stores within US military bases in Korea. These Bibigo dumpling products come in three varieties -- original, japchae and kimchi -- all featuring the company’s special vegetable protein based on beans, which provides a taste and texture similar to meat. Starting with dumplings, CJ said it plans to expand its product lineup to include frozen rice balls and gimbap. They added it aims