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South Korean cosmetic giant Amorepacific hosted its yearly marathon in Busan on March 24, seeking to raise public awareness on breast cancer. With some 5,000 participants, the event consisted of a three-kilometer course and a 10-kilometer course, as well as breast cancer tests, clinical consulting...
E-Land Retail, subsidiary of South Korean retail conglomerate E-Land Group, said on March 21 it has decided to delay its plan to go public this year and repurchased its own shares to return investments. “Due to the greater volatility of the stock market recently, we‘ve decided to delay the li...
South Korean e-commerce company WeMakePrice will start operating a food delivery platform from April, according to sources on March 22. The company aims to take around 5 percent sales as commission, which is lower than the 7 percent charged by top operator Woowa Brothers. Advertising fees will be ...
Shares of YG Entertainment , the former management company of Seungri who is at the center of a sex bribery and corruption scandal, took a toll on March 21 one day after the National Tax Service raided it over alleged tax evasion. On March 20 after the stock market closed, the tax agency dis...
Hotel Shilla CEO Lee Boo-jin has been embroiled in a scandal involving the illegal use of propofol, a highly addictive anesthetic drug which could be lethal when overdosed. The latest scandal involving the eldest daughter of bedridden Samsung Group Chairman Lee Kun-hee is likely to become a g...
Two local small and medium-sized duty-free operators have been chosen to operate the country’s first arrival duty-free shops at Incheon International Airport, west of Seoul. Incheon International Airport Corp., the airport’s operator, said on March 20 that the two firms -- Entas Duty Free and...
South Korean retail conglomerate Shinsegae Group said on March 19 its luxury concept store BoonTheShop will open at an upscale US department store. The launch of BoonTheShop at Bergdorf Goodman -- a luxury department store chain based in New York City -- is the Korean retailer’s third overseas...
Former Uber CEO Travis Kalanick, who currently heads Los Angeles-based shared service provider City Storage Systems, will enter South Korea with Cloud Kitchens next month, according to industry sources on March 18. The shared kitchen service offers cooking facilities and space for anyone who wants...
Korean e-commerce firm Coupang announced on March 15 that is has appointed Jay Jorgensen as its new Chief Compliance Officer. Jorgensen worked as global retail giant Walmart’s Chief Compliance Officer for seven years and established ethics programs for its over 2 million employees, before joining...
Amid a sex and drug scandal involving talent agency YG Entertainment , its main rival saw its market capitalization soar past others. On March 12, JYP Entertainment’s market value reached 1.6 trillion won ($1.41 billion) on the rising popularity of its girl group Twice and boy band Got7. The ...
Samyang Group on March 12 announced that it would invest up to 2.4 trillion won ($2.12 billion) in new businesses including chemicals and biotechnology to achieve annual sales revenue of 5.5 trillion won by 2020. “Although we have not yet laid out the details, we are aiming to invest more for big...
Cash-strapped E-Land Group has decided to sell around 30 percent stake in its subsidiary China E-land Wish, according to industry sources on March 6. According to sources, the company is currently discussing with some Chinese strategic investors to sell its stake. E-Land is hoping to sell its stak...
K-pop powerhouse YG Entertainment’s stock price plunged following a major scandal that broke last month involving its boy band Big Bang member Lee Seung-hyun, who is better known as Seungri. Executives of local night club Burning Sun, including Seungri who was an inside board director, are bein...
Korean retail giant Shinsegae Group said on March 5 it will introduce electronic voting at this year’s shareholder meetings for its seven listed firms to help boost shareholder interests. The seven subsidiaries, including Korea’s biggest discount store chain E-mart decided to adopt e-voting a...
South Korea logged a record-high balance of payments surplus for Hallyu-related products and services last year, owing to the global success of Korea-made video games and K-pop, statistics from the Bank of Korea showed Sunday. Hallyu, or the Korean Wave, refers to the proliferation of Korean cult...
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