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Korean e-commerce firm Coupang on July 1 unveiled the price list of products supplied by LG Household & Health Care , saying it was almost a third higher than the average of its other suppliers. According to the data that Coupang provided to lawmakers, LG H&H supplied its baby milk product Bebie...
Hyundai Card and Costco have become partners. As of May 24, customers have started to pay with their Hyundai credit cards at all of the 16 Costco stores and online mall in South Korea. “This is not just a partnership for payments, we plan on building a full-blown partnership to create synergies t...
Cash-strapped Woongjin Group announced on June 27 that it has decided to resell its stake in water purifier rental firm Woongjin Coway, which it just acquired in March this year. “We will sell Woongjin Coway within a year,” Woongjin said in a statement. “As a pioneer of the local rental busines...
Retail sales in South Korea increased in May from a year earlier as online malls continued to attract more customers with faster delivery services and wider selections, data showed on June 27. The combined sales of 26 major offline and online retailers reached 11.43 trillion won ($9.87 billion)...
South Korea’s antitrust regulator said on June 25 that it has fined McDonald’s Korea 52 million won ($45,000) for violating the law on franchise business. McDonald’s Korea is accused of accepting franchise fees worth 544 million won from 22 prospective franchisees between September 2013 and ...
Rawrow on June 20 announced that it had signed a contract to get funding from Shinsegae International , a fashion arm of Korean conglomerate Shinsegae. According to Rawrow, it handed some of its shares to the Shinsegae affiliate but declined to disclose the specific figures. “Securing the mana...
Investors in YG Entertainment including the National Pension Service have suffered losses of around 200 billion won ($169.2 million) over the past six months, according to Korea Exchange data. Broken down, the NPS lost around 20 billion won, while some 20,000 minority shareholders lost about 182...
Korea Investment Value Asset Management announced on June 10 that it had bought 440,000 additional shares of Korean entertainment powerhouse JYP Entertainment. With the purchase, KIVAM, the second-biggest shareholder of JYP, owns a 6.69 percent stake in the entertainment company. Korea’s first as...
Liquor prices are continuing to increase across South Korea, the latest being those from Lotte Liquor, industry sources said on June 1. Starting this month, prices of liquor from Lotte Chilsung Beverage’s distiller unit will increase by up to 10 percent. Soju brand Chum-Churum, Chungha rice wine...
Faced with mounting criticism from shareholders, South Korean entertainment powerhouse S.M. Entertainment announced on May 31 that it will consider handing out dividends for the first time since it went public in 2000. The agency’s decision came after its third- and fourth-largest stakeholders KB...
“Parasite,” the winner of the Palme d’Or at the 2019 Cannes Film Festival, has not only become a source of national pride but also a boon for its investors. The movie, the seventh from director Bong Joon-ho, is expected to hit screens May 30 and the attention surrounding the award -- a first fo...
South Korea’s leading e-commerce platform cafe24 announced on May 27 that it has signed a partnership deal with short video mobile app TikTok. TikTok is a popular video platform which allows users to create and share 15-second videos. The service is currently available in 150 different countrie...
Kurly, operator of grocery delivery platform Market Kurly, on May 24 announced that it has secured an additional 35 billion won investment from China-based Hillhouse Capital in its series D round. In April, 100 billion won funding was provided by Kurly’s existing investors including Sequoia Capit...
GS Home Shopping, a leading home shopping channel operator here, said May 26 that it has invested $1.2 million in Luxstay, a Vietnamese home-sharing platform that targets the Southeast Asian market. The deal marks GS Home Shopping’s second such investment in an e-commerce startup based in Viet...
The ubiquitous toys of domestic toy seller Sonokong range from the megahit transformation car-robots “Turning Mecard” to “Sofy Ruby” (also spelled Sophie Ruby), an ordinary girl on an adventure to save a prince stuck inside a sketchbook. To buy the latest item in the Hello Carbot or Turning M...
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