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South Korea ranked fourth in the world in terms of the number of Starbucks stores in the country, following the United States, China and Japan, with an increase of over 100 new stores in 2023. According to the Starbucks global website on Sunday, the number of stores in Korea at the end of last yea...
CJ Logistics, the nation’s largest logistic firm, affiliated with retail giant CJ Group, is speeding up its overseas expansion this year, according to industry sources on Monday. Its Indian subsidiary, CJ Darcl Logistics, aims to make its stock debut in the first half of the year, while the compa...
Samsung Electronics Chairman Lee Jae-yong last week renewed his will to continue bold investments despite business uncertainties upon his visit to the construction site of a new 1.7 trillion won ($1.2 billion) battery plant in Malaysia. According to the tech giant on Monday, the Samsung chief on F...
South Korea secured its place among the world's top 10 defense exporters for the second consecutive year in 2023 with approximately $14 billion in exports, anticipating continued demand this year bolstered by substantial deals already in place. Data from the Korean Ministry of National Defense and...
Hyundai Motor Group is highly likely to surpass the 100-million-vehicle sales mark this year, 56 years after it started selling cars in Korea in 1968. According to the carmaker on Monday, it has sold close to 97 million vehicles around the world as of last year. Of these, about 24 million were sol...
Posco Holdings said Thursday it has named Chang In-hwa, former CEO of steelmaker Posco, to lead the nation's fifth-largest business group as its next chairman. The result was announced after seven members of the CEO Candidate Recommendation Committee of Posco Group interviewed six candidates in th...
South Korean conglomerates are becoming more reluctant to finalize their hiring plans this year or downsize the number of new employees as their business prospects are shrouded in uncertainty, a poll on job recruiters showed on Thursday. Some 67 percent of conglomerates with over 1,000 employees c...
Amid soaring exports of Korean instant noodles in recent years, a renewed spotlight has been cast on a decadeslong dilemma among local food companies -- whether or not the word "ramen" should be ditched from their marketing strategy. Ramen, rooted in Japanese culinary tradition, has become a house...
Citibank Korea and its sister firm Citigroup Global Markets Korea won six awards in the Korean market from a leading financial magazine in recognition of their endeavor in sustainable finance, the Korean unit of US banking giant Citigroup said Thursday. At the Asset magazine’s 2024 Triple A Award...
As the legal charges have been cleared for Samsung Electronics Chairman Lee Jae-yong in a recent ruling, anticipation is growing that the tech giant will now go in search for mega mergers and acquisitions to secure future growth engines at full throttle. The Seoul Central District Court this week ...
Skepticism has grown over the platform act, as the nation’s antitrust watchdog hints at a thorough review of the most contentious aspect of the bill: the preliminary designation of “monopolistic” online platform operators. The Fair Trade Commission on Wednesday announced its decision to review ...
Daewoo Engineering & Construction's Chairman Jung Won-ju, who doubles as vice chairman of Jungheung Group, met with India’s top government officials to tap into new infrastructure project opportunities in the country, the South Korean builder said Thursday. On Friday, Jung met with Dammu Lavi, th...
The US auto safety authorities have closed a probe into engine fire risks on Hyundai Motor and Kia vehicles as the South Korean automakers’ recalls have lowered fire rates, according to Reuters Thursday. The National Highway Traffic Safety Administration said the majority of the recalled Hyundai ...
Foreign investors have been racking up “underperforming shares” on the Kospi, Korea’s main bourse, backed by increased expectations of the government’s initiative to boost the local stock market. Since the government late last month vowed to come up with new measures to tackle the "Korea disco...
The top 10 percent of content creators accounted for 76 percent of all creators’ total income in 2022, according to data released Thursday. The National Tax Service data, obtained and released by Rep. Yang Kyung-sook of the Democratic Party of Korea, put the number of people who reported income a...
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