SEOUL, Nov. 29 (Korea Bizwire) – Lotte Group announced a sweeping set of initiatives on November 28 to address liquidity concerns and improve financial stability. The measures include revaluing land assets, divesting underperforming properties, and scaling back investments. As part of its strategy, Lotte is also considering exiting poorly performing overseas duty-free locations. During an [...]
SEOUL, Nov. 28 (Korea Bizwire) – South Korean food giant CJ Cheiljedang Corp. said Thursday it has begun selling an instant fried rice product for the first time in the United States. Korean barbecue-flavored fried rice under CJ Cheiljedang’s bibigo brand is now available at major grocery shops, including Walmart and Publix, and will be [...]
SEOUL, Nov. 21 (Korea Bizwire) – Lotte Department Store announced the launch of its European-style Christmas Market, running from November 20 to January 5 at the Lotte World Mall’s Lawn Plaza in Jamsil, Seoul. This year’s market, themed “Wonderful Showtime,” represents the largest iteration to date, featuring collaboration with luxury brand Chanel and integration with an [...]
SEOUL, Nov. 20 (Korea Bizwire) – Costco Korea, the South Korean arm of the American wholesale giant, plans to distribute more than half of its annual net profits as dividends to its parent company, according to regulatory filings released on November 19. The company reported operating profits of 218.6 billion won for the fiscal year ending [...]
SEOUL, Nov. 19 (Korea Bizwire) — A Seoul court again rejected an arrest warrant for Qoo10 CEO Ku Young-bae on Tuesday on fraud and embezzlement charges related to his e-commerce group’s large-scale payment delays to vendors. The Seoul Central District Court made the decision following a hearing Monday, saying there was “room for dispute” over [...]
SEJONG, Nov. 15 (Korea Bizwire) – The mandatory closing day for large supermarkets in a major tourist district in Seoul will be changed from weekends to weekdays, the industry ministry said Friday, adding to the convenience of its residents and foreign tourists alike. Starting later this month, large supermarkets in Seoul’s central district of Jung [...]
SEOUL, Nov. 14 (Korea Bizwire) – CJ CheilJedang’s Bibigo brand is set to launch a global collaboration with Netflix’s hit series “Squid Game” Season 2, marking a significant partnership between South Korea’s leading food brand and entertainment content. The food giant announced on November 14 that the collaborative campaign will roll out across 14 countries, including [...]
SEOUL, Nov. 12 (Korea Bizwire) – A new report suggests that South Korean companies should proactively secure logistics infrastructure in the southeastern United States and along the U.S. borders with Canada and Mexico, anticipating these regions’ emergence as key global supply chain hubs under a potential second Trump administration. The Korea Chamber of Commerce and Industry [...]
SEOUL, Nov. 12 (Korea Bizwire) – Controversy has erupted after Eric, a member of K-pop group The Boyz, mistakenly shared photos of condoms packaged to look like Pepero snacks on social media, prompting an apology from the condom manufacturer Bareun Saenggak. The incident occurred on November 11 when Eric posted a handwritten letter to fans for [...]
SEOUL, Nov. 11 (Korea Bizwire) – South Korean domestic beer is poised to reclaim its position as the best-selling alcoholic beverage at major retailers this year, overtaking wine as consumers adapt to persistent inflation, according to recent market data. An analysis by Emart, one of South Korea’s largest retailers, shows that through November 6, domestic beer [...]