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Korean Air announced on Sept. 17 it was injecting 1.1 trillion won into its subsidiary company Hanjin International to help pay off its debts and keep the latter’s hotel business afloat. The decisi...
“I’m very excited about this year, which will be the first year our beverage has truly made a foray into the US market,” Jo Un-ho, CEO of Hite Jinro Beverage, said in a recent interview. Hite Jinro ...
South Korean food companies scored massive sales growth in the wake of the COVID-19 pandemic, as the demands increased for products that can be consumed at homes, in both domestic and overseas market...
Big Hit Entertainment, the label-management agency of K-pop giants BTS, announced on August 14 that its estimated sales revenue during the first half of 2020 reached a record 294 billion won (US$244....
Seven Korean companies, including Coupang and LG Chem, have narrowed their revenue gap with global No. 1 companies over the past five years, data showed on August 5. Local corporate tracker CEOScor...
Korea’s antitrust watchdog has decided to impose a fine of 64.7 billion won ($54.1 million) on food giant SPC for violation of antitrust laws, officials said on July 29. The Fair Trade Commission i...
The National Tax Service has launched a special probe into allegations of tax evasion by Starbucks Korea, according to local media outlets on June 4. The Seoul office of the NTS has conducted an ir...
Apple will reopen its Seoul store on April 18, the company said on April 16. The branch, located in Garosugil in Gangnam-gu, will be the first store outside of China to reopen. Apple previously clo...
SM Entertainment and Naver are teaming up to launch a new concert streaming service, Beyond Live. The premiere, featuring SuperM, is to air April 26. The two companies have signed a memorandum o...
British American Tobacco, the world’s second-largest tobacco maker, unveiled on March 30 a new corporate strategy and 1 billion pounds ($1.24 billion) cost-saving and investment plan. The announceme...
The Oscar-winning Korean film “Parasite” has topped 300 billion won (US$245 million) in worldwide ticket sales, industry data showed on March 13. According to the data by Box Office Mojo, a U.S. fi...
Cosmetics giant Amorepacific will sell its office building in Nonhyun-dong, within Seoul’s Gangnam district, for 160 billion won ($131.25 million), according to the company’s regulatory filing Wednes...
California-based coffee chain Blue Bottle Coffee will open its fifth store in South Korea near Gwanghwamun Square in central Seoul, according to industry sources on Jan. 22. After making a hit in o...
Sales at South Korean duty-free stores hit a new monthly high in November, industry data showed Dec. 30. The combined sales of local duty-free shops reached 2.29 trillion won ($1.98 billion) last...
Korean beauty giant Amorepacific announced on Dec. 17 that it has signed a strategic partnership deal with US-based cosmetics company Milk Makeup. Established in 2015, Milk Makeup is known for its “...
E-commerce giant launches video streaming service Coupang Play
Vice minister warns against market overheating during crisis management
Posco International invests in local laser cutting application firm
SK sets up hydrogen business group
Naver Cloud, GS Global join hands for overseas market
S. Korea invests $9.8m in World Bank green trust fund
Korean Air to sell Incheon yacht marina
Apple to make harder push in Korea with 2nd Apple Store
January 20, 2021
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