Business
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Korean beauty brand Amuse aims to triple US revenue after Shinsegae acquisition
SEOUL, August 05 (AJU PRESS) - Amuse, a Korean beauty brand known for its official model Jang Won-young of the K-pop girl band IVE, aims to boost its U.S. revenue by 200 percent by 2025 by leveraging the marketing network and expertise of Shinsegae International, which is set to become its parent company. Shinsegae International said Friday that it will acquire 100 percent of the shares in Amuse for 71.3 billion won ($51.9 million). Currently, Amuse's largest shareholder is Snow
August 5, 2024 -
Korean coffee franchises expand overseas amid K-food popularity
SEOUL, August 5 (AJU PRESS) - As "K-food" gains global traction, domestic coffee chains are accelerating their international expansion, leveraging diverse menus and localized offerings to capture new markets. In May, Hollys opened its first overseas store in Osaka, Japan, targeting the country's youth with Korean-style cafes and desserts. The shop features unique items like Yakgwa Cream Latte, which has become a bestseller. Ediya Coffee launched its first franchise
August 5, 2024 -
Seoul stocks plunge the most in 16 years amid US recession fears
SEOUL, August 5 (AJU PRESS) - Korea's benchmark KOSPI index plummeted 8.77 percent, marking the largest single-day drop in 16 years, on Monday amid growing fears of a U.S. economic recession. The KOSPI closed at 2,441.55, down 234.64 points from the previous trading day. It was the largest percentage drop since Oct. 24, 2008, when the index fell 10.57 percent amid the global financial crisis. The point drop was the biggest in history, surpassing the previous record of 133.
August 5, 2024 -
Korean kimchi exports hit record high in the first half
SEOUL, August 5 (AJU PRESS) - Korea's kimchi exports reached a record high in the first half of 2024, led by the United States and other Western markets, according to data from the Korea Agro-Fisheries & Food Trade Corp. (aT). Industry experts attribute the surge to the growing popularity of Korean pop culture and increased awareness of kimchi as a health food following the COVID-19 pandemic. Kimchi exports totaled 23,900 tons from January to June, marking a 4.8 percent i
August 5, 2024 -
SK C&C partners with Vietnamese firm to expand digital ESG business
SEOUL, August 5 (AJU PRESS) - SK C&C, a Korean IT services provider, has signed a memorandum of understanding (MOU) with FPT IS, a leading Vietnamese ICT company, to cooperate on global digital ESG (environmental, social and governance) business expansion, the company announced on Monday. The agreement, signed during the Vietnam-Korea Digital Forum 2024 in Seoul, aims to address growing ESG demands in Korea, Vietnam, and European markets. The partnership will focus on developing
August 5, 2024 -
Seoul shares plunge on US slowdown woes, triggering circuit breakers
SEOUL, August 5 (AJU PRESS) - Korean stock markets plummeted more than 8 percent on Monday, triggering circuit breakers for the first time in over four years. Market analysts attribute the drop to growing fears of a U.S. economic slowdown, exacerbated by weak manufacturing and employment data released last week. As of 3:02 p.m. the KOSPI was down 231.43 points, or 8.65 percent, to 2,444.76. The Korea Exchange activated a circuit breaker on the benchmark KOSPI market at 2:14:30
August 5, 2024 -
LS Cable starts construction on bus ducts, battery parts plants in Mexico
SEOUL, August 5 (AJU PRESS) - LS Cable & Systems, a Korean power cable maker, has commenced construction of factories in Mexico to produce bus ducts, a new type of electricity distribution system, and electric vehicle battery components. LS Cable said Sunday that it is building two plants in an industrial complex in Querétaro, Mexico. The facilities, covering 126,000 square meters, are scheduled to begin mass production in the second half of 2025. The cable maker aims to
August 5, 2024 -
Korea launches antidumping probe into Chinese, Taiwanese petroleum resin
SEOUL, August 5 (AJU PRESS) - Korea has recently initiated an anti-dumping investigation into petroleum resin imports from China and Taiwan, following a complaint from a domestic manufacturer, according to officials on Sunday. The probe targets four Chinese and three Taiwanese companies accused of selling the product at unfairly low prices in the Korean market. The Korea Trade Commission, under the Ministry of Trade, Industry and Energy, launched the investigation after Kolon Indust
August 5, 2024 -
Seoul shares plunge on US slowdown fears, triggering program trading curb
SEOUL, August 5 (AJU PRESS) - Korea's benchmark KOSPI index plummeted more than 5 percent below the 2,600 level on Monday morning, triggering a sidecar curb that temporarily halted program selling for the first time in more than four years. Market analysts attribute the drop to growing fears of a U.S. economic slowdown, exacerbated by weak manufacturing and employment data released last week. According to the Korea Exchange, the KOSPI was down 5.08 percent to 2,540.36 as o
August 5, 2024 -
Yogiyo cuts delivery commission, undercutting bigger rivals
SEOUL, Aug. 2 (AJU PRESS) — Korean food delivery app Yogiyo announced Thursday it will reduce its delivery commission fee to 9.7 percent from 12.5 percent, offering the lowest rate among major delivery platforms in the country. The move makes Yogiyo more competitive against market leaders Baedal Minjok (Baemin) and Coupang Eats, both of which charge 9.8 percent. Yogiyo said the decision was made to "reduce the burden on restaurant owners and maintain a sustainable eco
August 2, 2024
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PHOTOS: National Folk Museum showcases traditional funeral dolls
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PHOTOS: Seoul holds sign language cultural festival
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PHOTOS: KES 2024 opens at COEX, highlighting AI innovations
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BLACKPINK's Jennie makes Billboard Hot 100 debut with latest single
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British Embassy's roundtable meeting raises awareness of climate change
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Workers over 60 become largest employed age group in Korea for first time
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South Korea mulls sending inspectors to Ukraine to monitor North Korean troops in Russia
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U.S. stealth fighter completes maiden landing on Japanese vessel
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5.8 magnitude earthquake strikes Indonesia's Molucca Sea region
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North Korea dismisses allegations of troop deployment to Russia as 'groundless'