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Reporter : Kim Jae-heun
Fri, June 2, 2023 | 23:49
'Boycott Japan' becomes thing of past
The once-fervent “boycott Japan” campaign, which started among Korean consumers to protest Japan's economic retaliation in 2019, appears to have become a thing of the past as sales of Japanese brand goods have gained growing popularity over the past few months, according to retail industry officials, Friday.
Companies | 2023-05-13 09:30
LS Cable & System to receive $8.77 million in damages from Boskalis
LS Cable & System (LS C&S) has won a lawsuit against Dutch construction company Boskalis over its unilateral cancellation of a contract and will receive 11.7 billion won ($8.77 million) in compensation, the company said Friday. According to LS Holdings' report filed to the Financial Supervisory Service's Data Analysis, Retrieval and Transfer System, the Singapore Internationa...
Companies | 2023-05-12 17:01
Seegene hit hard by end of COVID-19 pandemic
Seegene slipped into the red in the first quarter of this year due to a drop in the number of people testing for the virus as it is shifting to an endemic phase in much of the world, company officials said Friday. The COVID-19 PCR test kit maker posted a 13.8 billion won ($10.35 million) operating loss for the first three months of 2023, while sales plunged to 90.1 billion wo...
Companies | 2023-05-12 16:39
AmorePacific to sell cosmetics on KakaoTalk
AmorePacific signed a joint business planning agreement with Kakao to sell cosmetics products on the KakaoTalk mobile messenger, company officials said Monday. The two agreed to cooperate closely to create business opportunities and conduct advanced data-driven marketing activities utilizing advertising and commerce platforms during a signing ceremony at AmorePacific's headqu...
Companies | 2023-05-12 09:24
Home-shopping channels struggle with falling profits
Domestic home-shopping channels are grappling with a prolonged business slump as the number of people watching television decreases and middle-class consumers spend less due to soaring inflation and rising interest rates, industry officials said Thursday. According to the Korea Communications Commission, Koreans' average TV usage time on a daily basis increased briefly to 3 h...
Companies | 2023-05-12 09:23
CJ Logistics to build e-commerce global distribution center in Saudi Arabia
CJ Logistics plans to establish a Global Distribution Center (GDC) in Saudi Arabia by 2024, in an effort to expand its business in the Middle East, the country's largest logistics firm said Thursday.
Companies | 2023-05-12 08:30
Retailers stung by economic slump in Q1
Department stores and other retailers saw their profitability decline in the first quarter of this year as consumers kept their wallets shut amid soaring inflation and rising interest rates, according to industry officials, Thursday.
Companies | 2023-05-11 16:43
Hanwha chairman's 3rd son flips burgers in Hong Kong
Kim Dong-sun, head of strategic management at Hanwha Galleria and the third son of Hanwha Group Chairman Kim Seung-youn, visited a Five Guys restaurant in Hong Kong recently to try making burgers himself a month prior to the launch of the fast food franchise in Seoul, the company said Tuesday.
Companies | 2023-05-09 17:05
Food delivery firms offer hefty discounts as online orders drop
Food delivery platforms are offering more discounts to encourage consumers to order food online as more people choose to visit restaurants after the end of COVID-19 lockdowns, according to company officials, Monday. Soaring food prices and higher delivery fees have also dampened demand for food delivery.
Companies | 2023-05-08 16:39
Discount stores expand bakery sections to attract more shoppers
Emart and other discount store chains are enhancing their in-store bakeries by introducing more cost-effective products under private brands to attract more customers amid continued high inflation, according to company officials, Sunday.
Companies | 2023-05-08 08:36
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