Musinsa'high-end concept store sees 60 percent surge in foreign customer sales in first half

SEOUL, June 27 (AJP) - Foreign customer transactions at Musinsa Empty Seongsu, the high-end fashion concept store operated by South Korean fashion platform Musinsa, surged 61 percent in the first half of 2025 compared to the same period last year, the company announced on Friday. International visitors now account for approximately 56 percent of total offline sales at the Seongsu location, Seoul's iconic hipster district, highlighting the store as a must-visit fashion destinati

June 27, 2025

AI dispatch system helps food deliverymen avoid motor accidents: Study

SEOUL, June 27 (AJP) - A study has found that an artificial intelligence-based logistics system developed by Woowa Youths, the logistics unit of food delivery giant Woowa Brothers, has significantly reduced motor accident rates among its delivery workers. The findings were presented this week at an international academic conference in Cyprus, the company said Friday. The research was unveiled on Wednesday at Statistical Challenges in E-Commerce Research (SCER 2025), a major global

June 27, 2025

Samsung heir Lee Jae-yong awaits Supreme Court ruling on merger case next month

SEOUL, June 27 (AJP) - Samsung Electronics Chairman Lee Jae-yong will receive a Supreme Court ruling on Jul. 17 regarding charges related to the 2015 merger between Samsung C&T and Cheil Industries. Lee was acquitted of all 19 charges in an appeals court ruling in February, maintaining his innocence in a case that has lasted nearly five years since prosecutors first filed charges in September 2020. The case centers on the 2015 merger that combined Samsung C&T and Cheil I

June 27, 2025

Hanwha Aerospace secures full-supply engine contract for KF-21 fighter jet

SEOUL, June 27 (AJP) - Hanwha Aerospace announced on Jun. 26 that it has signed an additional contract worth 623.2 billion won ($458 million) with South Korea's Defense Acquisition Program Administration (DAPA) to supply engines for South Korea’s next-generation KF-21 “Boramae” fighter jet. This latest deal follows a 556.2 billion won agreement signed in June last year, bringing the total value of engine supply contracts for the first mass-production batch to

June 27, 2025

IFA chief expects Samsung and LG appliance subscription services to spread across Europe

SEOUL, June 27 (AJP) - Home appliance subscription services offered by Samsung Electronics and LG Electronics represent a win-win solution for both consumers and companies that will likely expand to European markets including Germany, according to the head of the Internationale Funkausstellung Berlin (IFA), a major consumer electronics show, on Thursday. Leif Lindner, CEO of IFA, told reporters at a press briefing in Seoul's COEX that subscription models reduce upfront costs f

June 27, 2025

Seoul logistics pipeline shrinks amid cautious market sentiment

SEOUL, June 26 (AJP) - South Korea’s logistics market is pulling back. After years of rapid expansion, the Seoul metropolitan area is now seeing a marked slowdown in new warehouse development, as rising costs, limited access to project financing, and a shifting demand landscape prompt developers to reassess their strategies. According to the 2025 Korea Logistics Market Report from Cushman & Wakefield Korea, about 3.92 million square meters of logistics space were complet

June 26, 2025

Shinsegae launches flagship Chicor beauty store in Seoul's Gangnam

SEOUL, June 26 (AJP) - Shinsegae Department Store debuted its revamped beauty concept store Chicor in the heart of Seoul’s Gangnam district on Thursday, seeking to redefine luxury beauty shopping through high-tech personalization and curated brand offerings. The new flagship is the first in what the company says will be a wider expansion of the Chicor brand, positioning it as a specialized destination for both global luxury and trending Korean beauty products. Touting wha

June 26, 2025

Hyundai, Kia exports to US plunge as Trump tariffs take toll

SEOUL, June 26 (AJP) - Exports of Hyundai Motor and Kia vehicles to the United States plunged 21.5 percent in May compared with the same month a year ago, as the Trump administration’s 25 percent tariff on imported automobiles begins to significantly alter trade flows. The two South Korean automakers, part of the Hyundai Motor Group, shipped 77,892 vehicles to the U.S. last month, down from 99,172 in May 2024, according to figures released Thursday by the Korea Automobile &a

June 26, 2025

Starbucks brings back plastic straws in South Korea

SEOUL, June 26 (AJP) - Starbucks has reintroduced plastic straws to its stores in South Korea for the first time in seven years — though this time, they come with a green upgrade. The coffee chain has begun piloting new straws made from sugarcane-based bioplastics at approximately 200 stores nationwide. Starbucks was among the first major coffee chains in South Korea to eliminate conventional plastic straws in 2018, replacing them with paper versions as part of a sweeping

June 26, 2025

Korean regulator claims Novo Nordisk cut needle supply to boost obesity drug sales

SEOUL, June 26 (AJP) - South Korea’s antitrust regulator has issued a formal warning to Danish pharmaceutical giant Novo Nordisk for cutting off supplies of specialized insulin pen needles used by children with diabetes, in order to prioritize the production of its blockbuster obesity drug, Ozempic, government officials said on Thursday. The Korea Fair Trade Commission (KFTC) concluded that Novo Nordisk violated competition laws when it unilaterally terminated supply contracts

June 26, 2025