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A consortium led by Mirae Asset Global Investments, South Korea’s largest asset management firm, has signed a contract with Southeast Asian companies Jollibee Foods and Viet Thai to sell California-based The Coffee Bean & Tea Leaf for $350 million, according to industry sources on July 25. Jollib...
Cash-strapped Woongjin, which recently decided to resell its stake in water purifier rental firm Woongjin Coway, announced on July 24 that it will offer staple financing to the buyer. Staple financing is a prearranged financing package offered to potential bidders for an acquisition. This is offer...
Korean e-commerce rookie Blank is further expanding by injecting money into its new businesses before its initial public offering, according to industry sources on July 22. “We are planning to file for preliminary screening at the Korea Exchange during the second quarter next year,” a Blank spok...
South Korean retailers are likely to deliver disappointing earnings for the second quarter on stiff competition with online operators, with industry leader E-mart expected to post the first deficit in its history, industry data showed July 22. E-mart, the country’s largest hypermarket chain, o...
South Korea’s catering and foodservice firm CJ Foodville announced on July 18 that it has secured 87.5 billion won ($74.3 million) from Chinese private equity firm Hosen Capital to further expand its bakery business in China. The Korean company received the funds through establishing a joint vent...
Two South Korean duty-free operators have cemented their positions in the world’s top five travel retailers in 2018, an industry report showed on July 18. Lotte Duty Free maintained its second spot with 6.09 billion euros ($6.84 billion) in sales last year, due largely to the Chinese resellers...
The chief executive officers of South Korean cosmetics firm Too Cool for School have decided to sell their stakes, according to industry sources July 17. Shim Jin-ho and Jo Hye-shin, the two co-CEOs, respectively hold stakes in the company of 75.76 percent and 18.18 percent. Nomura Securities has ...
Sales at South Korean duty-free stores hit a new half-year high, industry data showed July 17, on the back of the opening of new downtown shops and on-arrival duty-free shops here. The combined sales of local duty-free shops reached 11.66 trillion won ($9.90 billion) during the January-June per...
South Korean e-commerce platform builder cafe24 announced on July 16 that it has started providing Vietnamese language service to its online shopping platform operators. “The Vietnamese e-commerce market is growing fast. Also due to Hallyu, more Vietnamese customers are demanding Korean products,...
South Korea’s e-commerce platform builder cafe24 said on July 11 that it has launched an artificial intelligence-powered one-stop solution for online store management. Even those engaged in a one-person business can create and design a website, sell products online, catch up with the market tre...
South Korea was the world’s No. 2 heat-not-burn tobacco market last year, and its growth will gather pace down the road, an industry tracker said on July 9. The size of Korea’s HNB cigarette market reached $1.67 billion last year, rising sharply from $453 million tallied in 2017, according to...
Blue Bottle Coffee said on July 9 that it will increase the number of its outlets in South Korea to four this year. The California-based coffee company advanced to Korea in May by opening its first store in Seongsu, eastern Seoul. It opened a second shop in Samcheong, central Seoul, last week. ...
The total value of online shopping in South Korea hit a record high in May, government data showed pn July 3, in the latest sign that a growing number of people are using computers and mobile devices to buy things ranging from clothes to electronic goods. Total online transactions reached 11.26...
Hyundai Home Shopping Network said on July 3 that it will launch the business in Australia next month. The 24-hour shop-at-home television channel called Open Shop will officially launch on Aug. 1, offering products ranging from household products to fashion brands, officials said. It will ...
Global trend forecasting agency World’s Global Style Network’s country director Lee Chang-wook on July 2 presented “sustainable value” as one of the key future trends during the 2020 Mega Trend seminar held in Seoul. In particular, he emphasized recognizing the importance of markets for con...
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[HIT Forum] 'Government, companies should team up to brace for US policy changes'
[HIT Forum] Korean CEOs urged to adopt long-term perspective on lobbying
[HIT Forum] Strategic lobbying critical for Corporate Korea: top Washington lobbyist