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CJ Cheiljedang said on May 23 that the US private equity fund Bain Capital has invested $320 million in its American unit. Bain Capital will acquire a 27 percent stake in CJ Cheiljedang’s wholly owned subsidiary CJ Food America, an affiliate of the South Korean food and entertainment conglomer...
Hot Toys, a maker of collectible figures from popular movies, has voluntarily revised its pricing policy on its figures after being probed by South Korea’s antitrust regulator, an official said on May 9. The Hong Kong-based company was accused of forcing Korean retailers not to sell their figu...
The number of personal mugs and tumblers used at Starbucks stores nationwide has nearly tripled since the coffee franchise introduced a discount program for users of reusable cups a year ago in accordance with a government-initiated environmental campaign, officials said on May 7. Starbucks and...
Shinsegae International on May 3 announced that it has launched new coworking space “Scale Up” for startups in the lifestyle-related industry in Cheongdam-dong, southern Seoul. In April, the company decided to establish this coworking space for startups along the lines of its business model bas...
Blue Bottle Coffee will officially debut in Seoul later this week, a South Korean affiliate of the upscale US coffee chain operator said on April 30. The new cafe will open in Seoul’s eastern Seongsu neighborhood -- a trendy hangout spot where young artists and designers renovated existing bui...
South Korean massage chair maker Bodyfriend announced on April 26 that it has decided to officially drop its recent plans to go public. The decision came after it failed to get preliminary screening approval by the Korea Exchange, which the massage chair maker filed for in November last year as pa...
South Korean cosmetics giant Amorepacific said on April 29 that its first-quarter net profit dipped 31 percent from a year earlier on increased costs. Net profit reached 122 billion won ($106 million) on a consolidated basis during the January-March period, compared with 177 billion won for the...
Hera, a luxury beauty brand under Korean cosmetics giant Amorepacific, has launched a limited-edition collection in collaboration with Italian fashion brand Au Jour Le Jour, the firm said on April 28. The collection features an urban-chic concept that reanalyzes the retro trend, according to the c...
Branded pop-up stores play an increasingly important role in South Korea’s retail scene as a source of creativity, innovation and brand new consumer experience. Many customers associate pop-ups with an experience different from what they expect from conventional brick-and-mortar stores. “If t...
The Ministry of Food and Drug Safety said Apirl 26 it will look into some 20 imported drinks for glyphosate residue. The US Public Interest Research Group Education Fund revealed in a report in February that glyphosate had been found in 19 out of 20 brands of 15 popular beers and five wines te...
Hong Kong-based global private equity firm Anchor Equity Partners, which owns Burger King Korea, has acquired Burger King Japan from Lotte GRS, according to industry sources on April 24. Although the PEF did not disclose the acquisition price, industry sources estimate the amount to be around 10 b...
CJ is shutting down its loss-making Korean restaurant chain Bibigo in China, with a plan to dissolve the unit by August this year, according to an industry source. The move is part of restructuring of its food and beverage business due to poor profitability. It follows the closure of VIPS, the gro...
With growing consumer interest in healthy super food and enhancing immunity levels, South Korean red ginseng product maker CheongKwanJang has launched a special edition of Korean Red Ginseng Extract Everytime -- a 6-year-old Korean red ginseng extract that comes in a portable stick-type pouch. Wit...
More than 13 foreign and domestic investors have handed in letters of intent to acquire South Korean cosmetics firm Skinfood, which is under court receivership, according to sources on April 19. Although the company has around 44.5 billion won ($39.14 million) debt, investors appear to be keen to ...
LG Electronics said on April 18 it has partnered with CJ Foodville to deploy robots at selected restaurants. The robots will be deployed at few CJ Foodville’s restaurants later this year to serve customers and create futuristic experiences, LG said. CJ Foodville is a subsidiary of food and...
HS Hyosung to showcase advanced carbon fiber in US
US’ new export controls to have little impact on Korean businesses: ministry
[HIT Forum] AmCham chief highlights Korea-US ties in shifting dynamics
[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