Reporting and analysis on retail, e-commerce, and consumer trends in Korea, updated continuously by our newsroom.
SK Innovation is supplying electric car batteries to Volkswagen Group along with existing suppliers LG Chem and Samsung SDI, the Korean battery maker said Wednesday. The Volkswagen Group brands plan to launch 50 new fully electric models by 2025, and the…
Hyundai Motor, Korea’s largest carmaker by sales, said Thursday it has invested in a U.S. unmanned aerial vehicle (UAV) company to jointly develop new products. In the investment, Hyundai Motor and Top Flight Technologies will jointly seek business…
Streetwear label Palace and Polo Ralph Lauren, the luxury fashion brand, have brought their recent collaboration to Seoul after a show in London. The hotly anticipated crossover saw queues forming from the night before its Saturday morning release at the RL…
Shares in Asian suppliers and assemblers for Apple fell on Tuesday after several component makers warned of weaker than expected results, leading some market watchers to call the peak for iPhones in several key markets. Following a poor forecast earlier this…
Local banks have invested an additional 345 billion won ($303.8 million) into start-up support. Based on past results, the latest funding could yield 11,000 jobs, D.Camp said on Wednesday. In 2012, 18 local banks teamed up to create and invest 500 billion won…
Hyundai Motor is introducing its connected-car system in Europe in partnership with Vodafone next year. The carmaker and affiliate Kia Motors signed a memorandum of understanding with Vodafone at the company’s British headquarters on Monday to roll out the…
Representatives of Korea’s major automakers and parts makers and industry officials gathered in Seoul Wednesday to discuss ways to breathe new life into the sluggish sector. The chief executives of the big five automakers — Hyundai Motor, Kia Motors, GM…
Nineteen Nongshim snacks, including its famous Shrimp Crackers, will cost more beginning tomorrow, the company announced on Tuesday. “We have decided to raise prices in the face of accumulated pressure from rising production, labor and management costs,” said…
Samsung Electronics will make its foldable smartphone available by the first half of 2019, with initial shipments estimated at least at 1 million units, according to Koh Dong-jin, president of the IT and Mobile Communications division at the company. The…
JD.com, China’s largest retailer, will purchase nearly RMB 100 billion worth of products from overseas brands. As disposable incomes in China rise, consumers increasingly demand high-quality products, especially imported products. E-commerce has rapidly…
Korean Air’s net profit in the third quarter more than tripled in comparison to last year largely due to increased sales of long-haul flight tickets and a business recovery in China, the company said in an earnings report on Tuesday. The company posted 267.8…
LG Chem has partnered with U.S. bio company Cue Biopharma to develop immunotherapy drugs to treat cancer, the local company announced Monday. Immunotherapy drugs help patients fight diseases like cancer by enhancing their immune system. It is a relatively…
LG Chem said Friday it nominated Shin Hak-cheol, vice chair and executive vice president of 3M, as its new head. It is the first time the chemical company hired a chief executive from outside the company since its foundation in 1947. Current LG Chem CEO Park…
Park Jong-hwan is a Korean start-up success story. Twenty years ago, he was living in a basement room with a friend. In 2015, he became a legendary figure after selling his Kim Gisa navigation service to Kakao for 62.6 billion won ($56.0 million). The co-CEO…
China’s massive Singles’ Day shopping spree provided a huge boost to Korean retailers, with some companies posting their highest sales figures ever. Since 2009, Chinese retail giant Alibaba Group has transformed Singles’ Day, which falls on Nov. 11, into an…
SK Chairman Chey Tae-won met with Vietnam Prime Minister Nguyen Xuan Phuc in Hanoi Thursday to discuss the conglomerate’s plans to invest more in both private and public companies and introduce measures to ease environmental problems there. They met for the…
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