Stepping into Olive Young N Seongsu, just a minute’s walk from Seongsu Station’s Exit 4, visitors are immediately greeted by a vibrant and spacious interior filled with colorful cosmetics. The cheerful atmosphere is enhanced by classic and upbeat music playing softly in the background. “Welcome to our new chapter of the store, Olive Young N Seongsu,” said Kim Soo-ju, Olive Young's cross-functional team leader, during a guided press tour on Thursday. "The speci

In a step toward sustainable agriculture, Canadian fertilizer company Genesis Fertilizers has signed a $35 million front-end engineering design, or FEED, contract with South Korea's DL Engineering & Construction to develop a low-carbon nitrogen fertilizer plant in Saskatchewan. Genesis Fertilizers CEO Jason Mann highlighted the plant’s innovative approach, emphasizing its role in global food security. “We capture 95 percent of the CO2 emissions, making this one of the world&

South Korean pizza chain Gopizza is strengthening its foothold in the Indian market by blending food technology with the distinct flavors of Korean cuisine, offering a fresh take on the classic pizza experience. Founded in 2016 as a single-serving pizza concept aimed at making pizza more accessible, Gopizza entered the Indian market in 2019, tailoring its approach to meet the distinct preferences of Indian consumers. "We currently operate 60 stores across southern India and plan to expand

The appointment of Lee Han-woo, head of Hyundai Engineering & Construction's housing business division, as its new executive vice president and CEO marks a generational shift as Lee becomes the company's first CEO born in the 1970s. Born in 1970, Lee joined the company in 1994 and has held a range of leadership roles over the past 30 years, including head of the strategic planning division. As the incoming CEO, he is expected to enhance Hyundai E&C's global portfolio in ci

South Korean food giant CJ CheilJedang has reportedly decided to sell its industry-leading bio division, which had been a key pillar alongside its food business, signaling a shift in its strategic growth priorities. According to investment banking sources Tuesday, CJ CheilJedang is believed to have appointed Morgan Stanley as the lead manager for the sale and is engaging with potential buyers. The main auction is expected to take place as early as next month, with the division estimated to value

Jefferson’s Bourbon Founder and Chief Strategist Trey Zoeller explores experimenting in Korea by pairing its bourbon with local culinary practices and pursuing partnerships with cultural industries as his brand establishes its foothold here. Ahead of the first anniversary of Kentucky-born Jefferson's Bourbon’s debut in Korea, Zoeller visited Seoul for the first time to introduce and share the allure of the brand to a growing number of bourbon enthusiasts in the country. He said

Daewoo E&C is making significant strides in its global expansion efforts, securing major projects across Central and Southeast Asia under the leadership of Chairman Jung Won-ju, the company announced Friday. Celebrating its 51st anniversary this year, Daewoo E&C has reaffirmed its vision of evolving into a company moving into the next century by tapping broader overseas markets and addressing challenges in the sluggish domestic construction industry. A prime example is the Turkmenistan M

Trade specialists agreed that Donald Trump’s second term could be both a boon and bane for Korean businesses as they discussed the outlook for policy changes under the upcoming US president during The Korea Herald Security Forum held in Seoul on Wednesday. Over 200 foreign affairs and trade specialists, lawmakers and ambassadors joined the inaugural event, titled “Alliance after US Election 2024: A Seoul Perspective.” The second economic and technological security session was m

South Korea’s leading cosmetics original design manufacturer Kolmar Korea said Wednesday it recently won a lawsuit against Intercos Korea, the Korean subsidiary of Italian cosmetic firm Intercos that was accused of transferring trade secrets of Kolmar’s sun care technology. On Oct. 18, the Suwon District Court imposed a 5 million won ($3,700) fine on Intercos Korea for violating the trade secret protection law. The ruling was finalized after the company chose not to appeal. The all

After years of record exports, especially to the US, Korea’s food industry is now keen to gauge the impact of Donald Trump’s second presidency. The outspoken leader declared during this campaign that he could impose blanket tariffs of 10 to 20 percent on all US imports, raising concerns for Korea’s key export items such as computer chips and cars. But it is often overlooked that the US remains the largest export destination for Korea’s agricultural and seafood products. I

As Korea’s foreign workforce nears the 1 million mark, JobKorea, the nation’s leading online recruitment platform, has launched the spinoff Klik, or Kickstart Life in Korea, to bring quality jobs and community to foreign national job seekers. Chris Heo, a 33-year-old Canadian national who leads the Klik team, said that the platform’s birth was largely inspired by his own experiences and challenges as a foreign national living in Korea. “I’ve struggled with complex a

South Korean top tobacco company KT&G has rejected a recent proposal from the Singapore-based activist private equity fund Flashlight Capital Partners to acquire Korea Ginseng Corporation, a KT&G affiliate. In a move to turn down Flashlight Capital Partners' bid, KT&G issued a statement Friday and reiterated its commitment to a long-term growth strategy focused on three core businesses, including health functional foods -- the segment Korea Ginseng Corporation falls under. KT&am

Posco Group is reportedly considering selling its stainless steel plant in Zhangjiagang, China, as part of a broader restructuring initiative led by Chairman Chang In-hwa to streamline 125 low-profit and non-core assets. According to industry sources Friday, Posco is in the process of selecting an advisory firm to aid in decision-making regarding the sale of Zhangjiagang Pohang Stainless Steel. With an annual production capacity of 110,000 metric tons, the plant was constructed near the Yangtze

KT&G, the nation’s largest tobacco company, said Thursday its cigarette sales hit a new record in the third quarter, largely buoyed by overseas sales. In the July-September period, the company reported 1.04 trillion won ($780 million) in cigarette sales, up 7.7 percent from a year ago and the highest-ever quarterly figure. Operating profit in cigarette sales also soared 23.6 percent to 333 billion won. Overseas sales made up about one-third of its total cigarette sales, worth 419.7 bil

Coupang founder and CEO Bom Kim announced on Thursday plans to sell 15 million shares valued at some $360 million — his first sale since Coupang’s New York Stock Exchange debut on March 15, 2021. He also plans to donate an additional 2 million shares to charity. Kim currently owns 174,802,990 Class B shares and the shares he plans to sell represent almost 9.7 percent of the total holding. The Class B shares, exclusively owned by Kim, have 29 times the voting power of regular shares.

New York-listed e-commerce giant Coupang set another quarterly record in the July-September period of this year on enhanced user engagement, with its revenue reaching $7.86 billion, a 32 percent jump from a year ago. The company also returned to profitability in the quarter after posting operating losses in the previous quarter largely from the UK luxury shopping platform Farfetch it acquired last year and antitrust fines in Korea. "The improvements we saw this quarter are most notably driv

Beijing's visa exemption for South Korean tourists will take effect on Friday this week, but expectations are mixed about the impact, as it comes after years of waning popularity of China as a travel destination here. China announced Friday that it would allow passport holders of Korea and eight other countries to enter China without visas for up to 15 days for tourism, business, family visits, and transit purposes. Chinese nationals are still required to apply for a visa to enter Korea. Lo

Celltrion has launched Steqeyma, a biosimilar of Stelara (ustekinumab) for autoimmune disease treatment, across Europe, broadening its product portfolio to further strengthen its position in the European biopharmaceutical market. On Friday, Celltrion introduced Steqeyma in Germany, one of Europe’s top five pharmaceutical markets, and in the Netherlands. To expedite the product launch, Celltrion’s German subsidiary completed essential preliminary steps, including drug price listing an

HS Hyosung Vice Chairman Cho Hyun-sang has officially begun his role as the member and incoming chair of the APEC Business Advisory Council (ABAC) for 2025, Hyosung Group announced on Friday. Appointed the ABAC chair in August this year, Cho recently met with Foreign Minister Cho Tae-yul and Second Vice Foreign Minister Kang In-sun. On Thursday, he also met with Trade Minister Jeong In-kyo to discuss the ABAC's role and vision for next year’s APEC meeting, which will primarily take pl

SK Group Chairman Chey Tae-won delivers his closing remarks during the 2024 CEO Seminar held at SKMS Research Institute in Icheon, Gyeonggi Province, on Saturday. Some 30 top executives across SK companies participated in the three-day annual event. The SK chief stressed to spur growth centering on artificial intelligence amid the ongoing efforts for portfolio rebalancing and operational improvements. (SK Group)