Korean convenience store chains accelerate global push with growth stalling at home SEOUL, July 01 (AJP) - Faced with a saturated market and declining sales at home, South Korea’s leading convenience store brands are racing to expand overseas in a bid to secure new sources of growth. Major players GS25, CU, and Emart24 are intensifying their international efforts as the domestic retail environment shows signs of fatigue. According to a May 2025 retail sales report from the Ministry of Trade, Industry and Energy, sales in South Korea’s convenience store sector fell 0.2 percent year-on-year — the second straight month of decline following a 0.6 percent drop in April. Adding to concerns, the combined number of outlets operated by CU, GS25, and 7-Eleven fell to 48,315 as of May — the first time the total store count has decreased since data tracking began. The drop underscores what analysts say is a clear turning point: South Korea’s convenience store market, once a driver of rapid retail expansion, has reached the limits of its domestic footprint. In response, retailers are accelerating efforts abroad. GS25, operated by GS Retail, currently runs 355 stores in Vietnam and 274 in Mongolia. In Japan, the company has introduced its private-label brand “YouUs” to more than 400 Don Quijote stores through a cross-border product partnership. CU, under BGF Retail, operates about 480 stores in Mongolia, over 160 in Malaysia, and around 40 in Kazakhstan. The company is also preparing its U.S. debut, with plans to open its first store in Hawaii by October. A local subsidiary has already been established to manage operations. Emart24, a Shinsegae Group subsidiary, has surpassed 100 stores in Malaysia and recently expanded into Cambodia. On June 30, it announced plans to open South Korea’s first convenience store in India, through a licensing agreement with Jung Brothers Hospitality and the Solitaire Group. The first location is scheduled to open in August in Pune, Maharashtra. GS25 is in the process of setting up a legal entity in Saudi Arabia, marking its first foray into the Middle East. These moves reflect a broader industry pivot toward international expansion as domestic opportunities dwindle. Once reliant on the densely populated South Korean market — where convenience stores are ubiquitous and often found just blocks apart — the sector is now looking abroad for long-term sustainability. “The domestic market has matured, and the competitive landscape has become increasingly intense,” said a retail analyst at Seoul-based Hana Securities. “Overseas expansion is no longer just an option — it’s a strategic imperative.” 2025-07-01 15:15:42

HYBE, Kakao bet on India's media, entertainment markets SEOUL, July 01 (AJP) - South Korean entertainment companies are ramping up efforts to gain a foothold in India’s fast-expanding media and entertainment sector, a market projected to reach 46 trillion won ($33 billion) by 2025, according to the Korea International Trade Association. From K-pop powerhouses to digital comics and gaming giants, Korean firms are tailoring strategies to navigate one of the world’s most diverse and dynamic content ecosystems. At the forefront is HYBE, the music label behind global sensation BTS, which is preparing to launch a wholly owned Indian subsidiary as early as this fall. The new unit aims to replicate HYBE’s proven K-pop development model for India’s burgeoning music scene. “The K-pop business model must be applied to and exported to other music genres to survive,” said HYBE Chairman Bang Si-hyuk in a statement last month, signaling a shift toward localized artist development. The company is scouting major cities such as Mumbai as a potential base, amid a rising wave of Indian K-pop fandom and concert attendance. HYBE’s move marks one of the latest in a series of Korean investments in India’s cultural sector. Kakao Entertainment, a subsidiary of tech conglomerate Kakao, entered the market earlier through its 2020 acquisition of Cross Pictures, a film and drama production company that had operated in India since 2015. The studio gained local prominence with Oh! Baby, the 2019 Indian remake of the Korean hit Miss Granny, which topped domestic box office charts. Kakao has also extended its reach through webtoons, launching Kross Komics in 2019 to serve India’s growing mobile reading audience with Korean digital comics translated into English, Hindi, and Telugu. Its global webtoon platform Tapas, which also distributes content to Indian readers, surpassed 200 million won in daily transaction volume last year. Meanwhile, gaming company Krafton, best known for PUBG: Battlegrounds, is expanding its Indian footprint through acquisition. In March, the firm purchased a 75 percent stake in Nautilus Mobile — the Indian studio behind the popular Real Cricket franchise — for $14 million, signaling a move into locally resonant genres and a broader shift toward narrative-driven gameplay, long a staple of Korean exports. The Korea Webtoon Industry Association (KWIA) is also making inroads through partnerships. In 2024, it teamed up with Bengaluru-based AI startup Dashtoon to launch a creator-focused platform that helps local artists and Korean webtoonists co-produce India-specific digital comics. The platform uses artificial intelligence for translation and layout automation, enabling streamlined adaptation across India’s many languages and visual storytelling traditions. 2025-07-01 13:48:30

Emart24 to launch first Korean convenience store in India this August SEOUL, June 30 (AJP) - Convenience store chain Emart24 will open its first store in India this August, marking the brand’s debut in one of the world’s fastest-growing consumer markets. The company has signed a brand licensing agreement with Jung Brothers Hospitality and the Indian real estate developer Solitaire Group. The flagship store will be located in Pune, Maharashtra, a major urban center and educational hub. The agreement was formalized at Emart24’s headquarters in Seoul’s Seongsu-dong, with CEO Choi Jin-il, Jung Brothers founder Peter Jung, and Rakesh Jaipathak, leasing director at Solitaire Group, in attendance. Spread across two floors in the Solitaire Business Hub, the Pune store will offer Emart24’s signature No Brand line, along with curated Korean products including prepared meals, cosmetics, and lifestyle goods. The upper floor will house a beauty section and a Korean-style self-service photo booth aimed at younger consumers seeking cultural experiences. The ground floor will feature a dining area with 68 seats — 36 indoors and 32 outdoors — and a counter-food zone serving popular Korean street foods such as tteokbokki, gimbap, and Korean-style hot dogs. Emart24 noted that these offerings reflect growing enthusiasm for Korean cuisine and pop culture among India’s Gen Z and millennial demographics. “This is the first time a Korean convenience store is entering the Indian market,” the company said in a statement. “We believe Emart24’s differentiated offerings and curated design will resonate with young Indian consumers.” Unlike a master franchise, the brand licensing model gives Jung Brothers and its partners the right to operate Emart24-branded stores without the authority to sub-franchise. The company said the model allows for greater operational focus and control in the early phase of market entry. While India’s retail sector is still dominated by small, family-run kirana stores — estimated to account for 75 percent of the market — Emart24 believes there is untapped demand for convenience-focused, youth-oriented retail concepts. According to the company, 47 percent of India’s population is under the age of 25, making it the youngest consumer market in the world. 2025-06-30 16:56:55

'Squid Game' Season 3 spurs retail frenzy in South Korea SEOUL, June 30 (AJP) - As Squid Game returns to screens for its third season, South Korea’s retail sector is turning the Netflix juggernaut into a merchandising powerhouse, deploying immersive pop-ups, collectible goods, and brand collaborations to capture the momentum of the global hit. From convenience store chains to luxury department stores, businesses are rushing to stake their claim in what has become one of the year’s most aggressively commercialized entertainment franchises. GS25, a major Korean convenience store operator, has partnered with Netflix to release a series of exclusive products tied to the new season. The lineup includes a lenticular T-Money transit card featuring the show’s returning mascot Younghee and newcomer Cheolsu, a jump rope-shaped jelly candy nearly two meters long, and chewy dalgona cookies that pay homage to the viral “dalgona challenge” from Season 1. The products are on display at Netflix’s official Squid Game pop-up at Gwanghwamun Plaza, which runs through July 6. According to GS Retail, its various collaborations with Netflix have sold more than 30 million items to date, including 6.3 million Squid Game-branded products. The franchise alone has generated more than 12 billion won, or about $8.6 million, in revenue. “We aim to go beyond the boundaries of a traditional convenience store and position ourselves as a cultural platform through collaborations with world-renowned Korean content,” said Lee Jeong-pyo, head of marketing at GS Retail. At the high end of the retail spectrum, Shinsegae — South Korea’s premier department store group — has launched its own multi-city pop-up initiative as the only official Korean merchandising partner for Squid Game Season 3. The first leg of the pop-up spans Shinsegae’s flagship Gangnam store and its Centum City location in Busan, where visitors are greeted by life-sized pink guards, mascot statues, and experiential zones designed to attract crowds. The displays will run through July 10 before relocating to Daegu and Seoul’s Times Square Mall from July 18 to 31. The department store’s retail program includes over 200 officially licensed items, ranging from apparel and lifestyle accessories to reimagined Korean game kits. Participating brands include J.Lindeberg, Odd Sox, CAPL, and Breezefi. Purchases made with Shinsegae credit cards qualify for additional discounts, reinforcing the commercial pull of the collaboration. The retail push underscores a broader evolution of Squid Game — from a dystopian drama to a full-fledged global brand platform. With immersive marketing, collectible merchandise, and high-profile partnerships, the show’s off-screen presence is now nearly as elaborate as its on-screen world. 2025-06-30 14:27:03

Technocrat-turned-executive to guide Korea's energy policy SEOUL, June 30 (AJP) - In a move signaling South Korea’s deepening commitment to pragmatic industrial policy, President Lee Jae-myung on Sunday nominated Kim Jung-kwan, a technocrat-turned-corporate strategist, as the next Minister of Trade, Industry and Energy. The choice of Kim, currently president of Doosan Enerbility, places a seasoned public servant with cross-sector experience at the helm of a ministry central to Korea’s energy transition and industrial competitiveness. Born in 1968 in the southwestern county of Jangseong, Kim's path reflects South Korea’s archetypal elite technocrat. He graduated from Seoul National University with a degree in economics before earning a doctorate in the same field from the University of Missouri in 2002. After passing the nation’s civil service exam in 1993, he embarked on a public career shaped by fiscal planning and economic strategy. Over nearly two decades in government, Kim rotated through pivotal roles at what is now the Ministry of Strategy and Finance. He worked on service-sector policy, government bond markets, and long-term economic planning, steadily gaining a reputation as a behind-the-scenes thinker who bridged detail with big-picture policy. He also served abroad, including a stint at the International Bank for Reconstruction and Development, where he focused on concessional finance for developing countries. Back home, he held key posts at the Bank of Korea, steering conversations on capital markets and global macroeconomics. But it was his pivot to the private sector in late 2018 that distinguished him from many of his technocratic peers. Joining the Doosan Group — one of South Korea’s leading conglomerates— he became a high-ranking strategist and later moved to Doosan Enerbility, a core player in the country’s push into next-generation nuclear and renewable energy. There, he oversaw global marketing efforts and worked directly with foreign governments to tailor energy solutions to local policy environments — an approach his colleagues said combined government savvy with business pragmatism. In announcing his nomination as the trade minister, Presidential Chief of Staff Kang Hoon-sik described Kim as “a practical talent” uniquely positioned to translate policy vision into execution. “He understands both the intent behind government decisions and the realities industries face,” Kang said during a press briefing. Kim’s nomination comes as South Korea seeks to recalibrate its energy strategy amid intensifying global competition in advanced manufacturing and growing urgency around decarbonization. The country has pledged to expand its nuclear energy capacity while investing in hydrogen and wind power. Analysts say Kim’s appointment signals a focus on technocratic continuity and market-aligned policymaking — a blend that may help the Lee administration navigate a complex industrial future. 2025-06-30 11:28:23

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 forum focused on data science and digital platform research. It was led by Professor Kyung Na-kyung of the National University of Singapore and examined the effectiveness of Woowa’s AI-assisted dispatch system, which was introduced in 2020. The system has since become a central tool for assigning delivery orders. Unlike the previous “battle call” method, in which delivery workers had to compete for orders via their phones, the AI-based system now recommends deliveries based on each worker’s location, route, and real-time conditions. This allows workers to concentrate more on the road and reduces the need to check their phones while driving. The study compared delivery performance data from before and after the system's introduction. It found that overall accident rates dropped by more than 64 percent, while accidents caused by driver error fell by nearly 86 percent. The impact was particularly pronounced among new delivery workers with less than six months of experience. In this group, total accidents decreased by over 93 percent, and at-fault accidents were reduced by 130 percent. In addition to safety gains, the study found that average monthly earnings rose by 7.4 percent overall, and by 9.3 percent among new delivery workers, suggesting the system also contributes to improved income levels. "This is a solid example of how AI can make gig work not just more efficient, but also safer," Professor Kyung said in a press release. "And since new delivery workers saw the biggest benefits, it also shows how digital tools can help build stronger support systems in today’s platform economy." Woowa Youths said the results align with what the company has observed in practice and reaffirm its commitment to building smarter, safer systems. "Delivery worker safety is our top priority," company spokesperson told AJP on Friday. "With these results in hand, we’re more committed than ever to improving the delivery environment." 2025-06-27 15:37:08

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 approximately 1.1794 trillion won. Under the full-supply agreement, Hanwha will deliver more than 80 engines by December 2028. The contract also includes comprehensive logistics support such as maintenance parts, engine service manuals, and on-site technical assistance for the Republic of Korea Air Force. The F414 engine, known for its high thrust and compact design, incorporates advanced lightweight and heat-resistant materials that ensure stable performance in extreme operating environments. These technical specifications reflect the engine's critical role in modern air combat, where maximum power-to-weight efficiency and high reliability are essential. Fighter jet engines are widely regarded as the pinnacle of propulsion engineering, as they must be compact and lightweight, deliver high thrust, and maintain long-term durability and reliability even under extreme thermal stress. Hanwha Aerospace brings decades of experience to the KF-21 program. Since beginning production of engines for the F-4 Phantom in 1979, the company has manufactured over 10,000 aircraft engines—including models for the KF-5, KF-16, F-15K, and T-50—and developed 11 types of engines in-house. To support this latest project and future initiatives, Hanwha Aerospace completed a 16,529-square-meter smart aerospace engine facility in April 2025. The new plant integrates IT-based quality control and logistics systems, and was designed not only for F414 production but also to support the future development of South Korea’s indigenous next-generation fighter jet engines. A company official said, “As Korea’s sole aerospace engine manufacturer, we are committed to delivering the KF-21 engines on schedule and advancing domestic engine technology to support national defense self-reliance.” 2025-06-27 13:48:36

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 push toward sustainability. Yet the paper alternative has remained controversial, with customers citing complaints ranging from sogginess to altered drink flavors. The new straws are available alongside existing paper options and are being offered for use with standard-sized beverages. The latest move comes as South Korea’s plastic policy enters a more relaxed phase. In 2019, under then-President Moon Jae-in, the Ministry of Environment announced a national roadmap to phase out single-use plastics, including a ban on plastic straws in cafes and restaurants by 2022. However, in late 2022, the ministry suspended penalties for non-compliance, and by November 2023, it officially shifted from mandatory enforcement to a “voluntary participation” model — effectively rolling back the ban. Many coffee chains responded by quietly reintroducing plastic straws. Starbucks, until now, had remained one of the few holdouts. Now, under pressure from both customers and a more permissive regulatory environment, the company is cautiously testing a return to plastic — albeit in a form it hopes will be both sustainable and palatable. “We are committed to finding solutions that meet our environmental goals while addressing the real-life needs of our customers,” a Starbucks Korea spokesperson said. 2025-06-26 13:51:11

Neople workers launch Korea's first game industry strike SEOUL, June 26 (AJP) - Employees at Neople, a key subsidiary of gaming giant Nexon and the developer of the popular Dungeon & Fighter franchise, have begun a strike, marking the nation’s first labor walkout in the gaming sector. The strike, which began on Wednesday, June 25, involves unionized workers from Neople’s Seoul office, who stopped reporting to work immediately. Employees at the company’s Jeju headquarters are joining on a staggered schedule — June 26, 27, and 30 — as part of a phased escalation. At the heart of the dispute is the company’s decision to significantly reduce its “GI” bonus, a performance-based incentive historically tied to the success of new game launches. The labor union contends that Neople cut this bonus without worker consultation, despite reporting a record 1.3783 trillion won (about $990 million) in revenue in 2024. Much of that revenue came from the strong performance of Dungeon & Fighter Mobile in China. Under longstanding practice, GI bonuses were calculated based on two years of post-launch performance. However, the most recent bonus was roughly two-thirds of the typical payout, prompting the union to demand the reinstatement of full bonuses and greater transparency. Specifically, workers are asking for a profit-sharing bonus equal to 4 percent of Neople’s 2023 operating profit — approximately 39.3 billion won — to be equitably distributed among employees. The strike follows weeks of stalled dialogue between the union and management. Initially, workers pursued a legal protest in order to avoid disrupting live game operations. But after receiving no formal response from company leadership, the union moved forward with a full-scale walkout. Neople was reported to have offered the highest average annual salary in the Korean game industry last year, at 220 million won (about $158,000). But the union pushed back on that figure, noting that many workers have base salaries closer to 60 million won, and that the company’s headline figures were inflated by irregular bonuses awarded to a small segment of staff. In a statement, Neople said the bonus adjustments were a one-time decision reflecting delays in overseas game launches. The company emphasized that Dungeon & Fighter Mobile was the only Nexon title to qualify for the GI bonus in 2024, and that total performance-based pay amounted to 15 percent of its operating profit. Neople also cited its proposal during this year’s wage negotiations of a one-time “spot bonus” of up to 33 million won per employee, which the union ultimately rejected. Union representatives said the offer failed to address what they described as deeper, structural issues surrounding compensation equity and workload distribution. 2025-06-26 10:44:32

Korea, Saudi Arabia launch joint initiative to help small companies SEOUL, June 25 (AJP) - South Korea’s Ministry of SMEs and Startups (MSS) announced on Wednesday a new initiative aimed at helping small and medium-sized enterprises break into the rapidly evolving Saudi Arabian market. Starting July 7, the ministry will begin accepting applications from Korean companies interested in launching operations in Saudi Arabia under a government-backed program designed to overcome longstanding regulatory, cultural, and religious barriers. Despite Saudi Arabia’s emergence as a high-potential market under its Vision 2030 economic diversification plan, Korean SMEs have struggled to establish a foothold due to complex administrative systems and deep-rooted differences in business norms. In response, the ministry and the South Korean Embassy in Riyadh have partnered with Saudi authorities to craft a demand-driven entry model. Under the program, Saudi government institutions will take the lead in selecting Korean companies they wish to support — ensuring alignment with local priorities and minimizing friction. Four strategic sectors have been targeted: artificial intelligence, bio-health, tourism and entertainment, and smart cities and construction. A total of 27 companies will be selected, with eligibility for the AI category limited to startups founded within the past decade. SMEs in other sectors may apply regardless of their age. Applications will be accepted through July 24, followed by document screening later in the month. In-person evaluations — featuring Saudi experts — are scheduled for August, with final selections expected soon after. Chosen companies will travel to Saudi Arabia at the end of September for a series of business meetings, investment presentations, and networking sessions with local stakeholders. 2025-06-25 16:55:04