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McDonald’s Korea Stops Selling French Fries Over ‘Substandard’ Frozen Potato Concerns

McDonald’s Korea Stops Selling French Fries Over ‘Substandard’ Frozen Potato Concerns

SEOUL, June 20 (Korea Bizwire) – McDonald’s Korea, the local unit of fast food giant McDonald’s Corp., said Thursday it has been forced to halt sales of french fries because of concerns about “substandard” frozen potato. In a statement, McDonald’s Korea said, “Due to an unexpected issue within our supply chain, we are temporarily unavailable [...]

Homeplus Tenants Fume as Store Closures Upend Their Livelihoods

Homeplus Tenants Fume as Store Closures Upend Their Livelihoods

SEOUL, Jun. 19 (Korea Bizwire) – As the banner announcing a “50-80% Clearance Sale” hung over the H Optical shop at the Homeplus store in Anyang, the mood among the tenants was a mix of anger and resignation. In late April, these small business owners, operating rental shops within the Homeplus outlet, received abrupt notice to [...]

Data Breach at Luxury Watch Brand Stokes Concerns Over Overseas Data Protection

Data Breach at Luxury Watch Brand Stokes Concerns Over Overseas Data Protection

SEOUL, Jun. 17 (Korea Bizwire) – In a delayed disclosure, the French luxury conglomerate LVMH revealed that nearly 2,900 South Korean customers’ personal data was compromised in a cyberattack on its high-end watch brand Tag Heuer in late 2019 and 2020. The breach, which also affected customers globally, has reignited concerns over the protection of personal [...]

Coupang’s Defiant Threat to Halt ‘Rocket Delivery’ Service Raises Eyebrows

Coupang’s Defiant Threat to Halt ‘Rocket Delivery’ Service Raises Eyebrows

SEOUL, Jun. 17 (Korea Bizwire) – In a bold move that has sparked speculation in South Korea’s e-commerce industry, Coupang, the country’s largest online retailer, has hinted at the possibility of suspending its much-lauded “Rocket Delivery” service. This threat comes in the wake of the company being slapped with a record 140 billion won fine by [...]

Lotte Home Shopping Finds Success with ’300 Second Bargain’ TV Segment

Lotte Home Shopping Finds Success with ’300 Second Bargain’ TV Segment

SEOUL, June 14 (Korea Bizwire) –  Lotte Home Shopping, a major South Korean home shopping channel, has achieved remarkable sales through its innovative “300 Second Bargain” TV segment, marking a first for the industry. In a pioneering move, Lotte Home Shopping introduced the “short-form” format to its live TV broadcasts in March, offering daily essentials at [...]

South Korean Regulator Imposes Record 140 Billion Won Penalty on Coupang

South Korean Regulator Imposes Record 140 Billion Won Penalty on Coupang

SEOUL, Jun. 13 (Korea Bizwire) – In an unprecedented move, South Korea’s antitrust regulator, the Fair Trade Commission, has levied a record fine of 140 billion won against Coupang, the country’s largest e-commerce company, on allegations of unfairly favoring its own products over those of third-party sellers.   The staggering penalty, the highest ever imposed [...]

Coupang Fined 140 Bln Won for Alleged Manipulation of Search Algorithm, Product Reviews

Coupang Fined 140 Bln Won for Alleged Manipulation of Search Algorithm, Product Reviews

SEOUL, Jun. 13 (Korea Bizwire) — The antitrust regulator said Thursday it has decided to fine e-commerce giant Coupang Inc. 140 billion won (US$12.44 million) for using unfair search algorithms and uploading false product reviews to boost sales of its own private-label items. The Fair Trade Commission (FTC) also referred the company, as well as [...]

GS Caltex to Supply Cosmetics Material to Sumitomo’s Affiliate

GS Caltex to Supply Cosmetics Material to Sumitomo’s Affiliate

SEOUL, Jun. 13 (Korea Bizwire) — GS Caltex Corp., South Korea’s second-biggest refiner by sales, said Thursday it has signed an initial pact to supply a cosmetics ingredient to a Japanese company in its business diversification strategy. GS Caltex has signed a memorandum of understanding (MOU) with Summit Cosmetics Corp. to provide 2,3-Butanediol under the [...]

South Korea Moves to Revive Struggling Home Shopping Industry

South Korea Moves to Revive Struggling Home Shopping Industry

SEOUL, Jun. 12 (Korea Bizwire) – The South Korean Ministry of Science and ICT has convened a special task force to bolster the flagging competitiveness of the nation’s home shopping industry, it announced on June 11. The move comes as the industry has stagnated amid the rapid growth of domestic and international e-commerce platforms and shifts [...]