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Food delivery app owner Woowa Brothers posted a 84 percent on-year jump in net profit last year, allowing over 400 billion won ($297 million) in dividends to its German parent, Delivery Hero. Woowa Brothers' net profit soared to 506.2 billion won in 2023 from 275.8 billion won a year earlier helpe...
South Korean e-commerce firm Coupang on Wednesday pledged to invest 3 trillion won ($2.23 billion) over the next three years to expand its signature Rocket Delivery service nationwide by 2027. The company's logistics network is expected to be drastically expanded, with eight new fulfillment center...
Coupang, South Korea's leading e-commerce company, said Wednesday it will invest 3 trillion won ($2.23 billion) for the next three years to expand its renowned "rocket delivery" nationwide in a bid to solidify its dominance in the competitive market. The plan includes the establishment of over eig...
Lotte Chilsung Beverage Co., the beverage arm of the South Korean conglomerate Lotte Group, said Tuesday its flagship product, Chilsung Cider, has received global recognition for its high-quality taste. Chilsung Cider was honored with the superior taste award, receiving three stars, the highest di...
The futuristic-themed branch could serve as a model for the Korean company's ambitions for the Italian market when it launches stores there, according to SPC Group. "Paris Baguette, a global brand operating over 7,000 stores across 11 countries, is poised to resonate with Italian tastes. We are de...
Chinese e-commerce giant AliExpress has chosen to solicit open competitive bids in Korea instead of extending its delivery contract with CJ Logistics, set to expire in April. According to industry sources Thursday, AliExpress recently submitted bid proposals to major logistics firms here to handle...
Galleria Department Store, one of the nation’s leading luxury goods retailers, said Thursday that its sales to customers of foreign nationality soared to all-time highs in the first two months of this year, surpassing pre-pandemic levels. Its luxury brand stores posted 10 billion won ($8.4 millio...
Emart24, a South Korean convenience store chain, said Thursday all three of its outlets in Singapore have been temporarily suspended for preparations to better serve customers in the Asian country. A statement released by Emart24 Singapore Pte. Ltd., Emart24's master franchisor partner firm, said ...
French cosmetics retailer Sephora, owned by LVMH Group, on Tuesday declared its withdrawal from the Korean market, following years of financial losses. "With heavy hearts, we have decided to cease operations in Korea. From May 6, we will gradually wind down our presence across online platforms, mo...
French cosmetics brand Sephora has said it will gradually exit from South Korea after failing to gain a share in competition with dominant local rival CJ Olive Young. In a statement posted on its social media accounts Tuesday, Sephora's Korean unit announced its plan for a phased withdrawal starti...
CJ CheilJedang said Tuesday it participated in the 2024 Natural Products Expo West, the world's largest trade event in the food industry, to showcase its key products and K-food innovation overall. Held in Anaheim, California, the expo marked its 42nd anniversary, attracting around 3,000 companies...
Ingka Group, the owner of most IKEA stores, aims to bring prices back to "inflation-adjusted" pre-pandemic levels by the end of next year. Ingka Group has 379 stores in 31 countries. The total number of IKEA stores, including Ingka's, around the world reaches 471 in 63 markets. Globally, the unli...
Other new features include the “pause detect” mode, which senses when the device is put down and automatically turns off the heat and motor to save energy. When the user picks up the device again, it turns back on to full operation. Dyson also included attachment learning technology for its upgr...
The sales and operating profit of South Korea's top ramyeon maker Nongshim hit all-time highs last year thanks to the popularity of ramyeon products in foreign markets, the company said Friday. The company’s operating profit in 2023 jumped by 89.1 percent from a year earlier to reach 212 billion ...
Alibaba Group, the company of Chinese e-commerce giant AliExpress, renowned for its budget-friendly offerings, plans to invest more than $1 billion in Korea over the next three years, with a massive distribution center being built within the year. According to industry sources on Thursday, Alibaba...
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