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Articles by Lee Yong-ik
Coupang’s October card payments hit record 6.2 tn won
South Korean e-commerce giant Coupang saw estimated customer card payments reach a record 6.2 trillion won ($4.61 billion) in October, surpassing its previous peak set just three months earlier as spending continued to recover from a major personal data breach. According to retail analytics firm Wiseapp Retail, estimated payments made through credit and debit cards totaled 6.2 trillion won in October, up 5.1 percent from 5.9 trillion won a year earlier.
Lotte Hotels tops three service quality categories for third year
Lotte Hotels & Resorts ranked No. 1 in the hotel, business hotel, and resort categories in the 2026 Korean Standard Service Quality Index (KS-SQI) survey, conducted by the Korean Standards Association. The company said Thursday that the latest recognition marks the third consecutive year the company has topped all three categories simultaneously.
LG Chem profit falls 17% while GS gains 46% in Q3
South Korean companies reported mixed third-quarter earnings Thursday, with LG Chem posting lower operating profit amid weakness in its petrochemical business, while GS benefited from strong oil refining margins. LG Chem reported consolidated revenue of 15.49 trillion won ($11.52 billion) for the July-September period, up 34 percent from a year earlier, according to a regulatory filing.
Lotte Mall Hanoi tops 1 tn won in cumulative sales
Lotte Mall West Lake Hanoi (Lotte Department Store) Lotte Mall West Lake Hanoi, operated by South Korea’s Lotte Department Store, has surpassed 1 trillion won ($750 million) in cumulative sales since opening in 2023, becoming the first overseas shopping complex operated by a South Korean department store brand to reach the milestone. Lotte Department Store said Monday that the shopping mall in Vietnam’s capital crossed the threshold in October, less than three years after opening.
Shinsegae chief set to return as Emart CEO ahead of group split
Shinsegae Group is expected to appoint Chairman Chung Yong-jin as a co-chief executive officer (CEO) of Emart Inc. in its annual executive reshuffle on Friday, as the South Korean retail conglomerate prepares to strengthen independent management ahead of a potential separation of its department store and retail businesses.
CJ OnStyle targets 50% creator commerce share by 2030
CJ OnStyle aims to turn creator-led shopping into a major growth engine, targeting a 50 percent share of mobile content commerce revenue by 2030. Seong Dong-hoon, head of the platform division at CJ ENM’s commerce business, said at the Creator Commerce Festival Korea in Seoul on Thursday, that the company plans to cultivate 100,000 commerce-focused creators and increase creator commerce transaction value 35-fold from last year.
Emart launches Wow Shop to tap low-cost household goods market
South Korean retailer Emart Inc. is entering the ultra-low-cost household goods market dominated by Daiso, launching Wow Shop with products priced at 5,000 won ($3.8) or less. Emart said Wednesday that it will open the first 100-pyong ($330.1 square meters) outlet at its Wolgye store on Thursday and plans to expand to at least five major stores nationwide by the end of the year. Wow Shop will offer about 12,000 specially developed products, including kitchenware, beauty items, and small appliances.
K-pop merchandise emerges as sales driver for convenience stores
K-pop idol merchandise is becoming a major sales driver for South Korean convenience stores as retailers increasingly tap into the fandom market to attract younger consumers. Albums and products featuring K-pop intellectual property (IP) have gained popularity, turning what began as an effort to engage younger shoppers into a growing source of revenue.
The Hyundai Seoul launches luggage delivery service for foreign visitors
(Hyundai Department Store) Hyundai Department Store has introduced a luggage delivery service for international visitors at The Hyundai Seoul, allowing shoppers to send their purchases and suitcases directly to airports or hotels. The South Korean retailer said Thursday that it has partnered with global travel logistics startup Goodlugg Company to launch the new concierge service, designed to help foreign customers enjoy shopping without carrying heavy bags.
Baemin expands quick commerce to neighborhood markets
Baedal Minjok (Baemin), South Korea’s leading food delivery platform, is expanding its quick commerce service to neighborhood supermarkets, aiming to extend rapid delivery to smaller cities and areas with limited access to large retailers.
Four Shilla Seoul restaurants make La Liste’s top 1,000 for fifth year
Four restaurants at The Shilla Seoul have been named among the world’s top 1,000 restaurants for the fifth consecutive year. Shilla Seoul said Tuesday that La Yeon, Palseon, Ariake and Continental, representing Korean, Chinese, Japanese, and French cuisine, respectively, were included in La Liste 2027’s global ranking. La Liste, a French restaurant ranking organization, evaluates restaurants and hotels across more than 200 countries.
Shinsegae invests $1 bn in Warner Bros. takeover
Shinsegae Group will invest $1 billion through subsidiary Shinsegae Property in Paramount Skydance’s acquisition of Warner Bros. Discovery, seeking to expand into a platform spanning retail and entertainment. Shinsegae said Tuesday that Shinsegae Property will participate in the acquisition alongside Skydance Chairman and co-CEO David Ellison, U.S. investment firm RedBird Capital Partners and other investors.
Maeil Business Newspaper Korea's No. 1 Economic Media
It was found that there are many high schools in Seoul that poorly managed school violence counseling and action records and treated the same by repeatedly writing the same in the school life record book. The Board of Audit and Inspection pointed out that the Seoul Metropolitan Office of Education has formally inspected and managed the schools. On the 20th, the Board of Audit and Inspection released the results of regular audits by the Seoul Metropolitan Office of Education.
Maeil Business Newspaper Korea's No. 1 Economic Media
As of 2024, Korea's university enrollment rate reached 73.6%, far exceeding the average of 48% by the Organization for Economic Cooperation and Development (OECD). However, the employment index after young people graduate from college is the opposite. The employment rate of higher education graduates aged 25 to 34 in Korea is 80% as of 2024, 7 percentage points lower than the OECD average (87%).
Maeil Business Newspaper Korea's No. 1 Economic Media
Pusan National University is the first national university in its base to hold an admission briefing session in Gangnam, Seoul, and is eager to recruit students. It is the contract department that can attract attention even though it is far from Seoul. Pusan National University will establish a smart major department with LG Electronics and operate it from next year.
Maeil Business Newspaper Korea's No. 1 Economic Media
Critics point out that the supply of professional manpower is far short compared to the rapid growth of the semiconductor and artificial intelligence (AI) industries. In other words, young people are complaining of employment difficulties, and the industry is intensifying the "Miss Match" of not finding professional manpower.
Maeil Business Newspaper Korea's No. 1 Economic Media
According to the results of the exit polls such as Jeong Geun-sik and Ahn Min-seok, up to 13 wins The turbulent change in the electoral district that was tense four years ago The 'blind' election controversy Daegu, North Gyeongsang, and North Chungcheong only showed good performance On the 3rd, when the 9th National Simultaneous Local Election was held, Seoul Superintendent of Education candidate Chung Geun-sik is delighted with his supporters while watching the broadcast of the results of...
Korea to expand overseas dispatch of Korean-language teachers
South Korea’s Ministry of Education plans to increase the number of Korean-language teachers dispatched to schools abroad this year, as global demand for the Korean language continues to surge alongside the popularity of Korean culture. The ministry announced on Tuesday that it plans to send a total of 93 Korean-language teachers to more than 200 elementary and secondary schools across 13 countries this year.
School meal robots debut in Seoul's middle school
Automation is changing school cafeterias in Seoul by addressing labor shortages and improving worker health. On Wednesday, the Seoul Metropolitan Office of Education introduced Korea's first school meal robots at Soonggok Middle School in northern Seoul, where four school meal robots have been preparing students' lunches since August 2024.
School meal robots debut in Seoul’s middle school
Automation is changing school cafeterias in Seoul by addressing labor shortages and improving worker health. On Wednesday, the Seoul Metropolitan Office of Education introduced Korea’s first school meal robots at Soonggok Middle School in northern Seoul, where four school meal robots have been preparing students’ lunches since August 2024.
Korean game publishers go after massive-invested AAA games for bigger market - Pulse by Maeil Business News Korea
Korean game publishers go after massive-invested AAA games for bigger market Receiver Sender title message [Photo provided by Pearl Abyss Corp.] South Korean game developers are actively seeking to develop AAA or Triple-A games, worldwide blockbuster games developed by massive investment to appeal to broader audiences that can be played on personal computers and video game consoles.
SK Telecom¡¯s IDQ to supply QKD solutions to EU-led QKD network infrastructure project - Pulse by Maeil Business News Korea
SK Telecom¡¯s IDQ to supply QKD solutions to EU-led QKD network infrastructure project Receiver Sender title message South Korea¡¯s top wireless carrier SK Telecom Co. will take part in the European Union (EU)-led quantum communication network building project through its quantum-safe crypto solution developing subsidiary ID Quantique SA (IDQ), which it took over a year ago.
Korea opens its first AR zoo in Seoul
[Photo by SK Telecom] South Korea is set to open its first augmented reality (AR) zoo, bringing the immersive technology closer to the real-life environment. Korea¡¯s leading mobile carrier SK Telecom said the country¡¯s first AR zoo would open Tuesday at Olympic Park and Yeoido Park in Seoul.
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