Reporting and analysis on retail, e-commerce, and consumer trends in Korea, updated continuously by our newsroom.
Samsung Electronics is expected to post a record operating profit of 17.2 trillion won ($15.4 billion) in the third quarter, backed by firm demand for memory chips, market sources said Tuesday. The consensus by major brokerage firms marks an 18.5 percent…
Spanish luxury designer brand Delpozo has entered into a partnership with South Korean firm KLH International to open six locations in South Korea. Two of the Delpozo South Korea stores have already begun trading, with the third opening shortly. The remaining…
South Korean fast-food chain Goobne Chicken has expanded into Malaysia, opening its first outlet in My Town Shopping Center. The brand plans to test the market under a franchise agreement with a local partner and has chosen its first location at one of the…
Hyundai Motor’s hydrogen-powered truck will take to the streets of Europe, where the hydrogen infrastructure is better than in Korea and subsidies for hydrogen cars more generous. The nation’s No.1 carmaker announced Thursday that it signed a memorandum of…
Seoul is promoting itself as Asia’s leading design hub with a series of design-related events. Hosted by the Seoul Design Foundation, Seoul Design Cloud, a mega design event comprising Seoul Design Week, Seoul Upcycling Week and Seoul Fashion Week – different…
Hyundai Mobis said Thursday that it developed its own short-range radar system for use in autonomous cars and plans to offer the system to local automakers from 2020. Radar can be used as an object detection system to help self-driving cars avoid collisions.…
Kia Motors will directly hire 1,300 employees at its contractors by next year in response to the Moon Jae-in administration’s goal of reducing the number of contract workers, the carmaker announced on Thursday. If it completes the transition, Kia Motors will…
SK Group will acquire a 9.5 percent stake in Vietnamese food and beverage company Masan Group to become its largest foreign shareholder. The Korean conglomerate announced Wednesday that it has agreed to acquire the stake at $470 million. The two companies…
KT said Tuesday that it inked a partnership with Vietnam’s largest construction company, Hoa Binh Construction Group, to build artificial intelligence-equipped hotels and smart cities. Based on the partnership, the two companies plan to install AI services in…
Naver is contributing 99 billion won ($88 million) to a 100 billion won venture capital fund devoted to fostering and investing in start-ups, the top internet portal announced Tuesday. The fund is being launched by TBT, a venture capital firm founded by Lee…
Korea’s top navigation apps have released their projections on the best and worst times to travel from Seoul to the provinces for the Chuseok harvest holiday. The three-day Chuseok holiday starts on Sunday, but the government granted a substitute holiday on…
South Korean beauty platform, Beautytap, has opened its first fully fledged retail location in California. Located at South Coast Plaza in Costa Mesa, the store is a one-stop destination for Korean beauty education, advice, content, community engagement and…
Convenience store chain GS25 has opened up a cashier-less store in Seoul that uses face-recognizing cameras to handle payments. The company’s first Smart GS25 started operation at LG CNS’ headquarters in Gangseo District, western Seoul, on Monday. LG CNS is a…
SK Telecom said Monday it commercialized a next-generation WiFi service that is four times faster than existing services at key areas with dense traffic, including COEX in southern Seoul. The new technology offers a maximum of 4.8 gigabits per second (Gbps)…
G.U, a casual clothing retailer owned by the parent company of Uniqlo, opened its first Korea store in the Lotte World Mall in southern Seoul on September 14 with the promise of bolder patterns and slightly lower prices that can’t be found at its better-known…
Korean beauty and tech company Memebox continues its U.S. repositioning with the launch of Kaja Beauty, the first complete K-Beauty color cosmetics line in the States. Created exclusively in partnership with Sephora, the new brand is launching with a 47-item…
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