Chinese e-commerce platforms, including the big three -- AliExpress, Temu and Shein -- suffered a more than 40 percent fall in sales in April, possibly hit hard by consumer concerns over product safety. According to a Monday report by BC Card, the nation’s largest payment processing company, payments on Chinese e-commerce platforms dropped more than 40 percent last month compared to the previous month. The transaction volume also decreased by 38.1 percent over the same period. Payments for

South Korean builder Daewoo Engineering & Construction Chairman Jung Won-ju met Cambodian Prime Minister Hun Manet, who was visiting South Korea for a bilateral summit, to seek support for the builder's expansion plans in Cambodia, the company said Friday. During the meeting, Jung requested support for Korean companies making inroads investments into the Cambodian market and discussed ways to enhance economic cooperation between the two nations, the firm said. "Daewoo E&C, as o

CJ Group's health and beauty drugstore CJ Olive Young showed stronger year-on-year performance in the first quarter, largely driven by robust sales in foreign markets and an increasing number of foreign visitors to Korea. According to its regulatory filing Thursday, the company reported 1.08 trillion won ($797 billion) in sales for the first quarter of the year, up 30 percent increase compared to the same period last year. The profit figures were not immediately disclosed. The company first

South Korean logistics company LX Pantos said Thursday it has signed a memorandum of understanding with Sinotrans, the Chinese logistics giant, as part of efforts to facilitate maritime and aerial transportation for deliveries to the US and Europe, as well as between the two Asian countries. The signing event was held Monday at Sinotrans’ headquarters in Beijing, with the attendance of LX Pantos CEO Lee Yong-ho, Sinotrans President Song Rong and other relevant officials. Under the agreemen

Korean food giant CJ CheilJedang beat earnings estimates in the first quarter of this year, largely driven by increased overseas sales. According to its regulatory filing Tuesday, the company posted 4.44 trillion won ($3.24 billion) in sales and 267 billion won in operating profits in the first months of the year. Its profits alone surged 77.5 percent from the same period last year. Its flagship food business reported 2.83 trillion won in sales and 184.5 billion won in operating profits, up 2.6

In the realm of materials science, diamonds have long held a prestigious status for their unparalleled hardness and brilliance. Traditionally, the synthesis of these coveted gems has relied on high-pressure, high-temperature methods, representing a significant barrier to large-scale production. However, recent research by Rodney S. Ruoff and his team at the Center for Multidimensional Carbon Materials within the Institute for Basic Science has opened a new chapter in diamond synthesis -- growing

Samyang Roundsquare shares rallied Monday, driven by investor expectations of the growing popularity of its spicy ramyeon brand, the Buldak series, especially in the US market. The shares soared to a record high of 353,000 won ($258) at one point in the morning before closing at 329,000 won. Over the past three months alone, the shares jumped more than 70 percent. Samyang's upward trajectory began in August 2023 when it posted record exports of its Buldak products in the second quarter. E

Kwon, an office worker in her 30s residing in Seoul raises a small white Maltese called Seolgi. She says that she is increasingly feeling the pinch from prolonged inflation that has also hit the prices of her dog's food. A 20-kilogram bag of dog food, equivalent to about a month's worth of food for Seolgi, was priced at 38,000 won ($28) last year, but now the price has reached more than 44,000 won. However, Kwon said she has no intention of reducing her spending on her beloved companio

Daewoo Engineering and Construction has been showcasing its engineering prowess not only domestically but also internationally, winning a series of large-scale bridge construction projects. On home soil, Daewoo E&C constructed the Dongjak Bridge, the first combined railway and roadway bridge in South Korea in 1984. Since then, they have successfully completed numerous bridges, including the Gwangan Bridge, Cheonsa Bridge, and the Geoga Bridge, which features the country’s first underwa

HD Hyundai Marine Solution, a ship maintenance unit affiliated with Korean shipbuilding giant HD Hyundai, made its stock debut Wednesday, with the stock price soaring on the first day of trading. Listed on Kospi, the nation’s main bourse, its stock opened at 119,900 won ($88), a 48.8 percent surge from the initial public offering price of 84,300 won. It hit a high of 166,100 won before closing at 163,900 won. During its book-building period earlier in April, the company managed to amass

B-Robotics, a subsidiary of the delivery app Baemin's operator Woowa Brothers, said Friday it has signed a memorandum of agreement with Hanwha Robotics to strengthen its focus on the restaurant automation market. The signing ceremony was held at B-Robotics' headquarters in Seoul on Thursday with B-Robotics CEO Kim Min-soo and Hanwha Robotics CEO Seo Jong-hwi in attendance. Under the agreement, B-Robotics and Hanwha Robotics will establish a joint strategy for further developing restaur

Korean defense firm Hyundai Rotem said Thursday that it has been chosen as the preferred bidder for a Peru military project for wheeled armored vehicles. The company will deliver 30 units of its K808 White Tiger wheeled armored vehicle to Peruvian military authorities in the first batch, valued at approximately $60 million. This deal was facilitated by Korean trading company STX. This deal signifies not only the first export of Hyundai Rotem’s wheeled armored vehicles, but also the first t

LG Uplus, one of the nation's top telecom carriers, said Wednesday it plans to build a large-scale data center in response to the growing demand for such facilities, largely driven by the widespread adoption of artificial intelligence and cloud servers across industries. To build the new data center, the company is set to acquire land and buildings located in Paju, Gyeonggi Province, from LG Display, a panel manufacturing arm of LG Group. The exact investment amount and construction timelin

Yoon Yoon-soo, chairman of the Fila Holdings Corp. and Acushnet Holdings Corp., has been named this year's winner of the General James A. Van Fleet Award in recognition of his contributions to Korean-US relations, according to the Korea Society on Wednesday. The Korea Society highlighted Yoon's involvement in founding and advising the Korea-US Alliance Foundation and the Korea Defense Veterans Association in 2017, both of which honor the bravery and sacrifice of Korean War veterans, as

The Ministry of Agriculture, Food and Rural Affairs on Tuesday launched a special commission dedicated to ending dog meat consumption in the country by 2027. Earlier on Jan. 22, the ministry had introduced a task force to iron out the details of implementing a government plan to end the practice, with a revision to the related law taking effect Tuesday. The task force has become an official entity under the ministry, comprising 13 members, including officials from the Ministry of Interior and S

Korean food and beverage companies are increasingly entering the Japanese market in pursuit of broader opportunities, largely driven by a saturated market at home and to capitalize on the rising popularity of Korean cuisine in the neighboring country. As of 2023, Japan saw a total of 19 Korean food franchises operating a combined 133 branches nationwide. According to the state-run Korea Agro-Fisheries & Food Trade Corp. (aT), Japan was the fourth most popular destination for Korean franchise

Renowned for its signature spicy thigh patty burgers, Mom’s Touch has established itself as a dominant player in South Korea’s fast-food landscape, with the highest number of branches here, despite its relatively late entry to the market. Celebrating its 20th anniversary this year, the fast-food chain has ventured into the Japanese market with the opening of its inaugural branch in Tokyo's Shibuya district on April 16. Mom’s Touch CEO Kim Dong-jeon revealed that the decisi

CJ Foodville said Monday it has opened two new Tous Les Jours branches in Cambodia, as part of efforts to broaden its foothold in Southeast Asia. The two new branches, which opened Friday in Kam Puchea Kroum and Toul Tom Poung in the country’s capital, Phnom Penh, mark the first locations for CJ Foodville to showcase the Tous Les Jours brand in the country. According to the company, both of the new branches feature a hybrid concept of cafe and bakery elements, boasting a selection of over

KT&G’s newly-appointed CEO Bang Kyung-man recently embarked on a business trip to Indonesia, a nation the company projects as a new production hub on the global stage, according to the South Korean cigarette manufacturer on Sunday. The business trip is Bang's first since assuming the role of CEO last month. Following shareholder approval during the company's annual general meeting on March 28, Bang, formerly the company's vice president, ascended to his new leadership

Hyundai Mobis, the auto parts manufacturer under Hyundai Motor Group, said Wednesday it held a ground-breaking ceremony for its first factory in Western Europe, which will manufacture battery systems, particularly focusing on supplying the Volkswagen Group. The new factory in Navarre, Spain, will cover an area of 150,000 square meters, with a floor space of 50,000 square meters, and it will have the capacity to produce up to 360,000 battery system assemblies annually. In line with its goal to