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Once overshadowed by mainstream choices like soju and beer, traditional Korean alcohol has experienced a resurgence since the early 2020s. The market for traditional drinks in Korea grew from 62.7 billion won ($43.8 million) in 2020 to 147.5 billion won in 2023, and the trend appears to be continuing, with major department stores reporting double-digit on-year increases in their traditional alcohol sales in 2024. This rapid growth is largely driven by younger generations seeking flavors beyond t
Daewoo Engineering & Construction has signed a framework agreement with Turkmenhimiya, Turkmenistan’s state-owned chemical company, for the construction of a mineral fertilizer plant, the company said Friday. The agreement, signed at a ceremony in Seoul, represents a significant milestone toward finalizing the contract, following Daewoo's selection as the preferred bidder in October 2023. The signing event was attended by Daewoo E&C CEO Kim Bo-hyun, Turkmenhimiya Chairman Dovrangeldi Sapbayev as
South Korean cosmetics giant Amorepacific announced Thursday that its luxury skincare brand Sulwhasoo is accelerating its push into the US market by entering Macy’s, the largest department store chain in the country. Following its debut on Macys.com in February, Sulwhasoo expanded its physical footprint in March with store openings at Macy's locations in Flushing, New York; Santa Anita in Los Angeles, and South Coast Plaza, California's largest shopping center. The brand will showcase its signat
A Korea-led consortium has signed a contract to work on a research reactor project in the United States, marking the country’s first-ever export of reactor technology to the US. According to the Ministry of Science and ICT on Thursday, the consortium comprising the Korea Atomic Energy Research Institute, Hyundai Engineering and American engineering company MPR Associates will work with the University of Missouri on the initial design phase of a project to build a new research reactor — the Next
Hyundai Motor Company's Casper Electric and Kia's EV3 on Thursday won World EV of the Year and World Car of the Year, respectively, at the 2025 World Car Awards, marking four consecutive years of recognition for the brands’ EV fleet. With this achievement, Hyundai Motor Group has won the top honor, World Car of the Year, five times over the past six years, starting with the Kia Telluride SUV in 2020. The automaker’s electric vehicles then went on to claim the title for four years straight with t
Amid the US government's tariff-fueled standoff with the rest of the world, some Americans appear to be stockpiling imported goods in anticipation of looming price hikes. Among the more unlikely items flying off the shelves are Korean-made sunscreen brands, which have quietly built a cult following in the United States. According to a report last week by The Washington Post, Korean sunscreen ranks among the most hoarded consumer goods amid tariff fears, based on data gleaned from social media po
Coway, a leading South Korean appliance company, announced Thursday that it ranked high in key brand evaluations for 2025, demonstrating strong market trust. In Brandstock’s "Korea's Top 100 Brands” for the first quarter this year, Coway ranked 32nd, climbing three spots from the previous quarter. The rankings are based on the evaluation company’s Brand Stock Top Index, which consults over 1,000 brands across 230 industries through consumer surveys and market data. Coway also dominated the 2025
GM Korea on Wednesday unveiled the all-new Cadillac Escalade, the latest model from the US carmaker, amid persistent rumors of its possible withdrawal from a market that has been hit hard by US tariffs. “We do not intend to respond to rumors about the company’s exit from Korea,” said Gustavo Colossi, vice president of the sales, service and marketing division at GM Korea, during a press conference held in Gwangmyeong, Gyeonggi Province. “We plan to move forward with our sales strategies in Korea
LS Electric will invest $240 million to expand its production facility in Bastrop, Texas, as the Korean power equipment company looks to bolster its presence in the US market, the company said Wednesday. “The US market and the Bastrop Campus will serve as a solid stepping stone for LS Electric to become a global enterprise,” said LS Electric CEO and Chairman Koo Ja-kyun during the completion ceremony of LS Electric Bastrop Campus on Tuesday. “We will invest an additional $240 million by 2030 to
South Korean oil refiner S-Oil announced Wednesday it donated 100 million won ($73,000) to the non-profit Heart to Heart Foundation ahead of the 45th Day of People with Disabilities on April 20. The funds will support an orchestra of musicians with developmental disabilities and help run disability awareness education for students and the public. The Heart to Heart Foundation established Korea’s first developmental disabilities orchestra in 2006. S-Oil has supported the foundation since 2009, ma
Naver signs licensing deal with Universal Music to elevate creators’ content
Alaska governor, DOE official call for stronger Korea-US LNG cooperation
Korea scores 1st nuclear research reactor project from US
Apple Intelligence review: Smooth start for Korean support, with room to grow
Low-cost, high-margin: How Mega Coffee is outperforming Starbucks Korea
Wealthy Koreans shift focus from real estate to gold, bonds and crypto
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