The Seoul Bankruptcy Court approved South Korea's No. 2 supermarket chain Homeplus' corporate rehabilitation request just 11 hours after filing on March 4. The company called it a preemptive move to manage short-term debt after a credit downgrade. On Feb. 28, Korea Investors Service downgraded Homeplus’s credit rating from A3 to A3- due to weak profitability and high debt. After court-approved rehabilitation, it dropped to D on March 4. However, concerns over Homeplus' financial health have deep

Choco Pie, a round cake-like snack with a marshmallow filling and chocolate coating, is the brainchild of South Korean confectionery maker Orion. Branded with the Chinese character for "jeong" — a deep sense of affection and hospitality — the proiduct carries a distinct Korean essence that embodies the core value of sharing love. Now, far beyond its homeland, the treat has won over more non-Koreans, selling more overseas than in the birthplace of jeong. History of marshmallow cookie 1956: Lee Ya

At Hyundai Motor Group, plans have been in the works for over a decade to build the Global Business Complex -- a set of skyscrapers that would serve as the global auto conglomerate’s new headquarters -- in southern Seoul’s wealthy Gangnam district. But that dream has not yet been realized as the Seoul Metropolitan Government and Hyundai Motor have been unable to reach an agreement on the GBC construction plan, repeatedly going back and forth with new proposals and demands. Here’s how the tug-of-

Samyang Foods, South Korea’s pioneer in instant ramyeon, found itself tasting defeat in the 1980s, when Nongshim stirred up the market and expanded into the nation’s dominant noodle maker. Yet, with overseas appetites for K-food growing, Samyang appears to be cooking up a comeback -- last year it served up twice the operating profit from only half the revenue pie of its larger rival Nongshim. Decadeslong ramyeon rivalry August 1961: Samyang Foods was founded by Jeon Jung-yoon. The company introd

While most major South Korean companies are cautiously monitoring the Trump administration’s America-first trade policies and tariff announcements, Korean firms specialized in producing high voltage cables and large transformers are primed to make the best of a golden opportunity for their businesses. Need for more electricity The Stargate Project, which intends to invest $500 billion over the next four years to build new AI infrastructure in the United States such as data centers, will require

Starbucks made history in Korea last year as the first coffee chain to surpass 3 trillion won ($2.06 billion) in annual sales. This milestone, which leaves its coffee competitors in the dust, highlights the dramatic ascent of the US coffee chain in Korea -- from its first store in 1999 to becoming the brand’s third-largest market worldwide. Management history September 1997: Starbucks Korea began as a 50-50 joint venture between E-Mart and Starbucks International. July 2021: Starbucks Internatio

Samsung Electronics Chair Lee Jae-yong walked free from years of legal battles on Monday, after an appellate court cleared him of stock-rigging and accounting fraud charges related to the 2015 merger of Samsung affiliates. With his legal troubles behind him, Lee is expected to focus on spearheading the tech giant through its various business challenges. Conflict origins Lee’s legal troubles trace back to the contentious merger of two Samsung affiliates: Samsung C&T and Cheil Industries. The deal

Korea Zinc, the world’s largest refined zinc producer, valued at $12 billion, is locked in a high-stakes battle for managerial control that could impact South Korea’s economy and global supply chains. Key players Korea Zinc (Choi family): Founded in 1974 and managed by the Choi family, Korea Zinc has diversified under CEO Choi Yoon-beom, moving into battery materials and renewable energy.Young Poong Group (Chang family): The company's largest shareholder, operating the Seokpo smelter and facing

A joint investigation between Korea and the United States has been underway to figure out what caused the deadly Jeju Air Boeing 737-800 crash that killed 179 passengers and crew at Muan International Airport in South Jeolla Province on Dec. 29 with only two survivors on board. Joint investigative team The two countries have put together a joint probe team of 12 investigators from Korea’s Aviation and Railway Accident Investigation Board, one official from the US Federal Aviation Administration,