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Seoul defense chief seeks US congress support for defense-related science cooperation
China says 'difficult' to attend Ukraine peace talks without Russia
10 countries, EU voice 'resolute' opposition to NK-Russia arms transfers
Filmmaker Park Chan-wook among winners of inaugural Musan Cultural Awards
S. Korea warns of 'unendurable' actions against N. Korea unless it stops provocations
Eagles' Ryu Hyun-jin scratched from start due to arm discomfort
NPS targets 5.4% return from fund operations over next 5 years
[Today’s K-pop] NewJeans pop-up store to open in Seoul
Ador CEO Min offers to reconcile with Hybe
Politicians split over revival of controversial party district chapters
Chubb unites Korean insurance arms under 'Lina' brand
[Photo News] Series of butane explosions destroys cars in Busan parking lot
Posco breaks ground for W1.5t nickel and precursor plants
LG Chem inks biggest corporate purchase of wind power in Korea
English version of Korean original musical ‘Marie Curie’ hits London’s West End
Seoul shares end almost flat ahead of key US inflation data
How will Chey’s W1.3tr divorce settlement affect SK’s shareholding structure?
How can South Korea leverage its UN Security Council seat?
Lotte Biologics forges partnership with Merck for raw materials supply
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When gummies, Coke and ice cream become art
Nov 22, 2022
Haribo, Coca-Cola, Haagen-Dazs play host to art exhibitions in Seoul
Losing on home turf: Korea’s kimchi trade deficit returns
Nov 16, 2022
South Korea’s imports of kimchi, a staple of almost every meal, reached an all-time high last month, with soaring ingredient costs driving up prices of domestically made kimchi amid inflation fears. In October, kimchi shipments from overseas surged by 50.9 percent compared to a year earlier to $17.02 million, according to data from the Korea Customs Service. The figure showed a 16.2 percent increase from the previous month. It is the first time monthly imports surpassed the $17 million m
Medicube operator eyes IPO on upbeat sales
Nov 15, 2022
APR, operator of Korean street fashion brand Nerdy and dermocosmetics brand Medicube, said Tuesday it posted record-high sales in the third quarter this year. The company’s sales surged on-year by 306 percent to 95 billion won ($72 million) while its net income jumped 81 percent to 12 billion won from July to September. Accumulated sales and income through the third quarter were 269 billion won and 18 billion won, respectively, surpassing last year’s performance. The company attrib
Milk inflation accelerates
Nov 13, 2022
Local dairy companies suffer double whammy of slowing demand, soaring costs
Dairy company Purmil reverses course on business termination
Nov 10, 2022
South Korean dairy company Purmil's announcement of its business termination, which stirred nationwide controversy for unilaterally firing its employees, had been upended as of Thursday. According to a statement from Purmil, the company will be normalizing its business operations but will still downsize 30 percent of its workforce to increase management efficiency. The announcement was made after an agreement was reached between management and labor, it added. The company intends to continu
Coupang turns profitable 8 years after launch of Rocket Delivery
Nov 10, 2022
New York-listed shares soar on upbeat earnings
Homeplus to expand home meal replacement products
Nov 10, 2022
South Korean discount chain Homeplus said Thursday it will combine its home meal replacement and meal kit product lines for the launch of a new brand called “Homeplus Signature Home Meal” to satisfy consumers’ demand for easy-to-prepare, nutritious meals. The new brand will offer high-quality products at reasonable prices, according to the retailer. The product lineup offers hansik, or Korean food, meal kits for at-home diners, as well as meals suitable for camping and as drink
KT&G debuts all-new heated cigarettes geared with AI
Nov 9, 2022
South Korean tobacco company KT&G unveiled its series of new heat-not-burn tobacco devices equipped with artificial intelligence on Wednesday, with aims to maintain its leading position in the growing domestic electronic cigarette market. The new HNB cigarettes, or electronic devices which heat processed tobacco instead of combusting it to deliver aerosol with fewer toxicants, come in two models each named Lil Aible and Lil Aible Premium. Lil Aible comes in four colors 'Ultra Blue
Popeyes to come back after 2-year hiatus
Nov 9, 2022
Popeyes, a US fried chicken fast food chain, said Wednesday it is returning to the South Korean market in the coming weeks after a nearly two-year hiatus. The chain had ceased operations here in December 2020, citing business difficulties and poor sales as key reasons. Popeyes is set to open its first new location near Gangnam Station in southern Seoul, with employee training starting on Monday. Meanwhile, South Korea's fast food market is experiencing a heated "burger race," as c
KT&G to buy back shares worth W350b to boost shareholder returns
Nov 4, 2022
South Korean tobacco company KT&G said Friday it plans to buy back 350 billion won ($245.1 million) of its own shares in a bid to boost shareholder returns. The firm is also considering increasing dividends per share by more than 200 won compared to last year. It is the second share buyback since last year when the company bought back 350 billion won of its shares and paid dividends of some 576 billion won to shareholders. In November 2021, the company announced it would carry out a shareh
Lotte to inject W1tr to expand online grocery business
Nov 2, 2022
Lotte Shopping, the e-commerce arm under retail giant Lotte, said Wednesday it plans to inject some 1 trillion won ($705 million) to boost its online grocery business. In partnership with Ocado, UK’s retail solutions provider, the company will adopt the Ocado Smart Platform, which uses artificial intelligence, big data and machine learning technologies to offer fast delivery service of fresh groceries. The platform operates automated fulfillment centers where hundreds of robots sort and pi
Chanel raises prices in Korea to 'ensure fairness'
Nov 2, 2022
While consumer prices inched up 3% from 2019 to 2021, signature Chanel bag spiked 84%
Luxury resort brand Capella to land in S. Korea
Oct 31, 2022
Global resort brand Capella announced its South Korean debut in Yangyang, Gangwon Province, some 107 kilometers from Seoul. Under the 830 billion won ($584 million) project, the luxury beach resort will be constructed near Songjeon beach by the second half of 2025. The company said Capella Yangyang aims to become the largest wellness resort here with a total of 261 rooms. There will be restaurants, convention halls and a total of five swimming pools, a mixture of indoor and outdoor. The resort
Retailers cancel Halloween-themed events
Oct 30, 2022
Retailers called off a series of Halloween-themed marketing events following an overnight crowd surge that killed at least 153 people, among some 100,000 who turned up for Halloween festivities in Itaewon, a popular nightlife district in central Seoul, late Saturday. Many retail companies here had planned to use Halloween to promote their products catering to young consumers, but events have quickly been canceled following the government’s announcement of a national mourning period throu
Coupang launches cross-border e-commerce service in Taiwan
Oct 26, 2022
South Korean e-commerce giant Coupang said Wednesday it has launched a cross-border online shopping service in the burgeoning Taiwanese market, saying it would help small and medium-sized Korean companies expand their businesses overseas. Through the Taiwanese version of Coupang's mobile app, consumers in Taiwan can use the company’s ultrafast Rocket Delivery service. Customers can order millions of groceries, daily necessities and other products from South Korea, and receive them i
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Govt. to hire 1,000 med professors for national universities by 2027
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Samsung's new chip head urges collective efforts to stay top
SM founder Lee Soo-man urges K-pop industry's quick adoption of AI, blockchain technology
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