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Reporter : Kim Jae-heun
Sat, August 20, 2022 | 00:12
Hyundai Motor's Ioniq 5 named best EV of 2022 by Car and Driver
Hyundai Motor's Ioniq 5 has been selected as the 2022 Electric Vehicle of the Year by the U.S. auto magazine, Car and Driver, the automaker said Friday. Like its slogan, “The new horizon of EV,” the Ioniq 5 is breaking new ground for electric cars (EVs) and is now recognized as a leading eco-friendly vehicle.
Saengong offers new standard in household specialty stores
Saengong is a local household specialty firm that started in 2014. The company only sells 60 items, these include: kitchen utensils, cleaning supplies and hygiene products and yet, it is already one of the most flourishing young brands in the market. Its sales have been rising every year from 7 billion won ($5.3 million) in 2018 to 15 billion won in 2019 and 30 billion won in...
Shinsegae to open integrated shopping mall in Gwangju
Shinsegae will build an integrated shopping mall, Starfield, in Gwangju, the first of its kind in the southwestern part of the country, the company said Wednesday. In addition, the retailer will expand its department store in the city to create Gwangju Shinsegae Art & Culture Park with an aim to turn it into a landmark shopping center.
Nongshim lags behind Ottogi, Samyang in Q2
Nongshim, Korea's largest instant noodle producer, was found to have lagged behind its smaller rivals in the second quarter of the year as it failed to effectively deal with soaring raw material and logistics costs as well as higher wages, according to industry officials, Wednesday.
Department stores enjoy handsome sales growth in 2nd quarter
Since the country eased COVID-19 social distancing measures putting limits on private gatherings and multi-use facility operating hours at the end of April, Korea's “big three” local department stores have enjoyed notable sales growth over the past three months, thanks to higher demand for luxury fashion goods and other high-end items. Their outlook for the second half of the...
Consumers angered by luxury fashion platforms' return policies
Consumer complaints are growing over luxury shopping platforms' poor return policies, as most of them charge fees to return items and some even refuse to allow returns, according to industry watchers, Sunday
Samsung promotes Korea's bid to host World Expo 2030
Samsung Electronics Vice Chairman Han Jong-hee recently visited southern Africa to check on the company's business there and meet with local government officials to ask for their support for Korea's southern port city of Busan hosting the World Expo 2030, the company said, Sunday. Han met South African Minister of Trade, Industry and Competition Ebrahim Patel and Minister of ...
Lotte Chilsung Beverage CEO's leadership questioned over numerous scandals
Lotte Chilsung Beverage CEO Park Yun-gie's leadership has been put under the microscope as the company has been involved in several scandals recently. In June, a Lotte Chilsung employee quit her job after revealing that she had been sexually harassed and verbally abused by a colleague
POSCO International to merge with POSCO Energy
POSCO Group is combining its trading arm, POSCO International, with its power generation unit, POSCO Energy. The merger was authorized at a board meeting on Friday. The steel-making conglomerate plans to finalize the merger deal on Jan. 1, 2023, after obtaining approval at a general shareholders' meeting scheduled for Nov. 4. When POSCO International and POSCO Energy are comb...
Disney beats Netflix in streaming subscribers
The Walt Disney Company's over-the-top (OTT) services surpassed that of Netflix, the company's earnings announcement showed on Wednesday, local time. In the third quarter of fiscal year 2022, Disney Plus saw its number of subscribers increase by 14.4 million to reach 152.1 million in total. The figure is far over the market consensus of 147.7 million
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