Undersized bidders stoke doubts over Homeplus buyout

After months of courting buyers under court supervision, Homeplus finally drew two would-be suitors by the Oct. 31 preliminary bidding deadline, only to prompt immediate questions over whether either is capable of rescuing Korea’s No. 2 hypermarket chain. The letters of intent came from two little-known firms: Harex InfoTech, a domestic AI-based retail platform provider, and Snomad, a real-estate developer. Samil PwC is managing the sale, with both bidders now conducting due diligence through No

Nov. 16, 2025

CJ Logistics powers 95-year legacy with tech innovation

CJ Logistics, South Korea’s largest logistics company, is building on its 95-year legacy to transform into a next-generation global leader within the next five years, with advanced technological innovation at its core. At the company’s 95th anniversary ceremony on Thursday, CEO Shin Young-soo outlined CJ Logistics’ broader global ambitions focused on delivering consumer value. “Our mission as a logistics company is to deliver anything, anytime, anywhere consumers demand,” Shin said. “As we appro

Nov. 14, 2025

CU opens first US store in Hawaii as K-culture hub

CU, South Korea’s largest convenience store chain run by BGF Retail, has opened its first US store in Honolulu, Hawaii, aiming to serve as a K-culture platform abroad, the company said Thursday. It is the first Korean convenience store brand to enter the American market. The launch follows a master franchise agreement signed in May with CU Hawaii LLC, a newly formed entity established by local firm WKF. Under the agreement, BGF Retail grants its local partner the authority to use the CU brand, e

Nov. 13, 2025

Shinsegae chief takes Alibaba JV board to jumpstart online revival

Shinsegae Group announced Tuesday that Chair Chung Yong-jin has been named to lead the board of Grand Opus Holdings, a joint venture between Shinsegae’s Gmarket and Alibaba Group’s AliExpress Korea, in a bid to boost synergy in both domestic and global e-commerce markets. The 50-50 joint venture between the two groups’ e-commerce units officially launched in September, subject to Fair Trade Commission conditions such as limits on consumer data sharing in the online cross-border market. “Chung’s

Nov. 12, 2025

Korean fried chicken was flying abroad before Kkanbu took flight

The week of the 2025 Asia-Pacific Economic Cooperation summit in Korea centered around culture as diplomacy, but it was Korean fried chicken that stole the show. The biggest beneficiary was arguably Kkanbu Chicken. The aptly named franchise — “kkanbu” means “close friend” in Korean — was host to Nvidia founder Jensen Huang, Samsung Electronics Chair Lee Jae-yong and Hyundai Motor Executive Chair Chung Euisun on Oct. 30 on the sidelines of the APEC summit. Over chicken and beer, the three leaders

Nov. 11, 2025

Korean food exports to Africa jump 72% on seafood demand

Korean food exports to Africa surged more than 70 percent in the first nine months of the year, emerging as one of the fastest-growing markets for K-food globally, data showed Monday. K-food exports to African countries reached $174.3 million in the January-September period, up 72 percent from a year earlier. Export volume also rose 45 percent to around 183,000 metric tons, according to data from the Korea Agro-Fisheries & Food Trade Corp. Seafood accounted for more than 70 percent of total ship

Nov. 10, 2025

Wooriwa plans to triple sales as K-pet food goes global

Wooriwa, barely seven years old, is making a case that the next wave of K-culture will be pet food. Spun off from Daehan Feed in 2018 and merged with US brand ANF the following year, the nation’s top pet food maker has since clawed its way to the top of the domestic market — and it is thinking far beyond it. Wooriwa currently generates revenue in the 100 billion won ($68.8 million) range and aims to triple that to 300 billion won by 2030, under CEO Choi Kwang-yong’s push to scale the business gl

Nov. 10, 2025

KT&G lifts outlook after best quarter in 5 years

South Korean tobacco manufacturer KT&G said Thursday it posted record third-quarter revenue of over 1.8 trillion won ($1.24 billion), buoyed by solid growth in its core overseas operations. Consolidated revenue rose 11.6 percent on-year to 1.83 trillion won, while operating profit increased 11.4 percent to 465.3 billion won, marking the highest quarterly level in five years. The record-breaking performance led the company to raise its full-year guidance for both revenue and operating profit to d

Nov. 6, 2025

Why are beauty retailers rushing to festivals?

As Korea’s beauty market picks up steam, festivals are emerging as a major battle ground for brands, especially among digital-first players expanding into beauty. Once known for online-only sales playbooks and algorithm-driven marketing, these companies are now pouring resources into large-scale, in-person events to build emotional connection and brand stickiness with customers. “We’re in an era where brands and consumers need to meet in the same space,” said one industry insider. "Beauty festiv

Nov. 6, 2025

APR profit more than triples on robust US sales

South Korean beauty tech firm APR saw third-quarter profit jump over 250 percent from a year earlier, driven by surging demand in the US market, where sales are now more than twice those in Korea. According to the beauty firm on Thursday, consolidated revenue for the July-September period rose 122 percent on-year to 385.9 billion won ($266 million), while operating profit soared 253 percent to 96.1 billion won. Its strongest-ever quarterly performance puts the company on track to hit its 1 trill

Nov. 6, 2025