Journalist
Candice Kim, Lim Jaeho
candicekim1121@ajupress.com, ajupresswogh@ajupress.com
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Shinsegae scion to debut in K-pop group SEOUL, June 09 (AJP) - Moon Seo-yoon, the eldest daughter of Shinsegae International President Chung Yoo-kyung and a scion of one of South Korea’s most prominent retail dynasties, is set to debut as a K-pop idol later this month. Moon, 22, will perform under the stage name Annie as a member of ALLDAY PROJECT, a five-member co-ed group managed by The Black Label, a prominent music agency known for representing artists such as Taeyang of Big Bang and Rose of Blackpink. The group is scheduled to debut on June 23, the company announced via social media. The move marks a rare entry of a high-profile business heir into South Korea’s intensely competitive entertainment industry. Moon is the granddaughter of Lee Myung-hee, the chairwoman of Shinsegae Group, one of South Korea’s largest retail conglomerates, and the niece of Shinsegae Vice Chairman Chung Yong-jin. Her father, Moon Sung-wook, holds several executive posts within Shinsegae affiliates. ALLDAY PROJECT is The Black Label’s second group following the recent debut of the boy band MEOVV. Alongside Annie, the lineup includes members known by the stage names Tarzan, Bailey, Woochan, and Youngseo. The group’s music is being produced by Teddy, a former member of 1TYM and the producer behind numerous hits for Big Bang and Blackpink. Born in 2002, Moon is currently a student at Columbia University in New York and does not presently hold equity in Shinsegae Group. Prior to her entertainment debut, she had already cultivated a modest public profile as an influencer, with more than 70,000 followers on Instagram. Speculation about Moon’s potential debut had circulated for months, fueled in part by images posted online showing her training alongside aspiring idols affiliated with The Black Label. Some of those trainees would go on to debut in MEOVV, leading to rumors that Moon’s own debut plans had been postponed or shelved. 2025-06-09 17:12:26 -
Daiso's budget cosmetics find devoted following Editor's Note: This is the fourth article in our series exploring the evolving landscape of the Korean beauty industry and the products that captivate international visitors. SEOUL, June 09 (AJP) - In South Korea’s bustling beauty market, a surprising contender has quietly become a cultural force: Daiso, the ultra-low-cost retailer known more for household goods than cosmetics. The chain, beloved by locals and tourists alike, is defying expectations — and industry norms — by offering a range of beauty products that are not only accessible but, in some cases, rival pricier competitors. While Daiso may not carry the prestige of luxury beauty brands, its appeal lies in affordability and experimentation. “Daiso products may not have the brand power of famous companies, but the price allows you to try multiple items without feeling burdened,” said Jeong Kim, a customer in her twenties. “Not every product is a hit, but I often discover items that outperform name brands.” Among the store’s top sellers is the TAG Slim Brow Pencil, retailing for just 3,000 won (about $2.20) — a fraction of the cost of high-end alternatives like Shu Uemura’s Hard Formula Eyebrow Pencil, which sells for $29. Despite the price disparity, the Daiso pencil has earned praise for its smooth color payoff and ability to mimic individual brow hairs with precision. Still, the limited shade range excludes those with blonde or auburn tones. The TAG Mood Blush Beam in shade 02 Fair Move has developed a loyal following for its versatility as both a blush and highlighter. The soft pink hue and pearl shimmer are ideal for enhancing features such as the bridge of the nose, under-eye area, and brow bone — staples of contemporary Korean beauty aesthetics. However, the blush, like many Daiso products, is formulated with lighter skin tones in mind, making it most suitable for those matching shade 21 or lighter in Korean foundation scales. One of Daiso’s most sought-after complexion products, the IPKN Personal Tone Correcting Blur Pact in Lavender, has sold out multiple times. The finely milled powder, designed to counteract sallowness, helps brighten and set makeup without caking. Users apply it selectively for dimension or all over for a subtle lift in overall tone. Daiso’s appeal also extends to skincare. The Real Barrier Sera Base Moisturizing Cream Toner, popular among customers during Korea’s hot and humid summer months, strikes a balance between hydration and wearability — a challenge in a climate where heavy skincare routines can undermine makeup longevity. A richer, more expensive version, the Real Barrier Extreme Essence Toner, is available at Olive Young, but has been out of stock in recent weeks. For international visitors navigating Korea’s beauty scene, Daiso offers a low-risk introduction to K-beauty trends. The mix of budget-friendly pricing and surprisingly high quality has turned casual shoppers into loyal fans — and positioned Daiso as an unlikely player in the global beauty conversation. 2025-06-09 16:31:53 -
Samsung maintains lead in European microwave market for 10th straight year SEOUL, June 09 (AJP) - Samsung Electronics retained its position as the top-selling microwave brand in Europe for the 10th consecutive year in 2024, according to data from market research firm Euromonitor. The South Korean electronics maker captured a 12.8 percent share of the European market by sales volume, cementing its lead in a region it has dominated since 2015. The Euromonitor survey covered 19 European countries. Samsung attributed its continued success to a combination of proprietary technologies and consumer-oriented design. Its microwave ovens feature ceramic interior coatings certified as 99.9 percent antibacterial by Hohenstein, a German institute specializing in antimicrobial testing. The coatings were found to be 99.93 percent effective against Staphylococcus and 99.99 percent effective against pneumonia-causing bacteria following 18-hour lab tests. To appeal to design-conscious European consumers, the company launched a line of Bespoke microwaves available in seven colors and glass finishes designed to match contemporary kitchen interiors. It has also rolled out Wi-Fi-enabled models integrated with its SmartThings ecosystem, allowing users to control appliances via Bixby voice assistant and access cooking recommendations through its Samsung Food platform. As part of its broader sustainability efforts, Samsung collaborated with steelmaker Posco to develop enamel steel sheets with a higher proportion of recycled content. 2025-06-09 14:29:12 -
Korean economy shrinks in early 2025 SEOUL, June 05 (AJP) - South Korea’s economy contracted in the first quarter of 2025, ending two consecutive quarters of modest growth. This reflects ongoing weakness in domestic demand and construction investment, according to revised figures released Thursday by the Bank of Korea. Gross domestic product fell 0.2 percent from the previous quarter, matching preliminary estimates. The decline followed 0.1 percent expansions in both the third and fourth quarters of 2024. The central bank said the revised data incorporated updated information unavailable during the initial calculation. Some components were adjusted upward, including equipment investment, which was revised up by 1.7 percentage points, and exports, which increased by 0.5 percentage points. Imports were also revised upward by 0.9 percentage points. Despite the revisions, domestic demand remained a drag on growth. Construction investment alone subtracted 0.4 percentage points from GDP and has now declined for four consecutive quarters, underscoring persistent fragility in the sector. Private consumption also fell, shaving 0.1 percentage points off overall growth. In total, domestic demand reduced GDP by 0.5 percentage points for the quarter. Still, the broader income picture showed modest improvement. Real gross national income (GNI) rose 0.1 percent quarter-on-quarter, buoyed by increased earnings from overseas investments. Net factor income from abroad — the difference between income earned by South Koreans from foreign sources and that paid to foreign investors — rose sharply to 13 trillion won ($9.5 billion), up from 8.9 trillion won in the final quarter of 2024. It was the third consecutive quarter of GNI growth. For the full year 2024, per capita GNI reached $36,745, a 1.5 percent increase from the previous year and the third straight annual rise since 2022. The GDP deflator — a broad measure of inflation — rose 2.4 percent year-on-year in the first quarter, while the gross savings rate fell to 34.9 percent, down 0.4 percentage points from the previous quarter. The data suggest that while external income streams have helped cushion the economy, structural weaknesses in construction and tepid domestic consumption continue to weigh on South Korea’s post-pandemic recovery. 2025-06-05 15:39:15 -
Korea's ETF market surges past 200 trillion won milestone SEOUL, June 05 (AJP) - South Korea’s exchange-traded fund market surged past a major milestone this week, with total net assets reaching a record 201.28 trillion won (approximately $150 billion) on Thursday, according to data released by the Korea Exchange. This marks the first time the fast-growing sector has crossed the 200 trillion won threshold. The achievement underscores the ETF market’s rapid ascent in the country. Net assets have nearly doubled since June 2023, when the figure first topped 100 trillion won, and have more than tripled since May 2020, when assets stood at just 61.95 trillion won. Long favored for their low fees and ease of access, ETFs have cemented their status as a mainstream investment vehicle among South Korean retail investors. The number of listed ETF products reached 989 as of the end of May. The market’s expansion is striking, considering that Korea’s first ETF — the KODEX 200 — launched only 23 years ago. Domestic equity ETFs have been among the standout performers in 2024, buoyed by investor enthusiasm for local policy-driven themes amid a sluggish U.S. stock market. Sectors such as defense, aerospace, and conglomerates like Hanwha Group have drawn significant inflows. The top five performers through May were all focused on domestic themes. Leading the pack was the PLUS K-Defense ETF, which returned 116 percent from January through May. It was followed by TIGER K-Defense & Space (106 percent), PLUS Hanwha Group (99 percent), SOL K-Defense (86 percent), and PLUS Global Defense (62 percent). Retail investors have been central to the market’s expansion, with net purchases totaling 10.32 trillion won through May 29. Two fund managers dominate the space: Samsung Asset Management’s KODEX brand commands 38.81 percent of the market, while Mirae Asset Global Investments’ TIGER brand holds 33.41 percent — effectively creating a duopoly. The market’s growth has also sparked innovation, with a proliferation of products extending beyond traditional passive index funds. New offerings include actively managed ETFs, thematic funds tied to specific industries or government policies, monthly dividend ETFs, downside buffer ETFs, and strategies employing covered calls. Still, analysts caution that the rapid expansion carries risks. A flood of similarly themed products could oversaturate the market, while “zombie ETFs” — funds with low assets and trading volume — may undermine investor confidence if left unchecked. 2025-06-05 15:34:33 -
Samsung showcases AI-powered home appliances in Mexico City SEOUL, June 04 (AJP) - Samsung Electronics unveiled its latest line of artificial intelligence-powered home appliances at a regional tech event in Mexico City, as the South Korean tech giant ramps up efforts to expand its footprint in the Latin American market. The “2025 Latin America Tech Seminar” brought together about 60 media representatives and industry professionals from 13 countries, including Brazil, Chile, Colombia and Mexico. The event marked the regional debut of Samsung’s 2025 Bespoke AI home appliance lineup, which includes next-generation refrigerators, washing machines, dryers, cordless vacuum cleaners and air conditioners. Part of a broader global outreach campaign, the seminar is the first in a series of planned promotional events aimed at showcasing Samsung’s vision for connected living. The company plans to host similar events across Southeast Asia, Southwest Asia, and other key international markets later this year. At the event, Samsung demonstrated how its Bespoke AI products leverage artificial intelligence to enhance energy efficiency, user convenience, and security. Features included integrated display screens, Bixby voice controls, and seamless connectivity with SmartThings, Samsung’s smart home ecosystem. Attendees toured a model apartment dubbed “Sam’s House,” a conceptual living space designed to illustrate how AI-driven appliances can optimize everyday routines — automating tasks, adjusting energy usage, and syncing across multiple devices. The Bespoke brand, known for its customizable designs and smart capabilities, has been a central part of Samsung’s strategy to redefine the modern home. The company is now positioning its AI appliances as a key growth engine in international markets, particularly as consumers increasingly seek connected, sustainable home solutions. 2025-06-04 15:37:11 -
SK hynix overtakes Samsung to claim top spot in global DRAM market SEOUL, June 04 (AJP) - SK hynix surpassed Samsung Electronics in the first quarter of 2025 to become the world’s largest supplier of DRAM chips, according to data released Tuesday by market research firm TrendForce. It marks the first time the memory chipmaker has claimed the top position in the global DRAM market, long dominated by its larger domestic rival. The global DRAM industry recorded $27.01 billion in revenue for the quarter ending in March, a 5.5 percent decline from the previous quarter, amid falling contract prices and weakened shipments of high-bandwidth memory (HBM) products. SK hynix captured 36 percent of the market during the quarter, overtaking Samsung, which fell to 33.7 percent. Just three months earlier, Samsung had held a commanding lead with a 39.3 percent share, compared to SK hynix’s 36.6 percent. The reversal underscores a sharp shift in industry dynamics, particularly given that Samsung held a 43.9 percent share as recently as the first quarter of 2024. Despite a 7.1 percent decline in quarterly revenue to $9.72 billion, SK hynix gained ground on the strength of shipments of its high-value HBM3E chips, a key component in advanced computing systems. Samsung, by contrast, reported a steeper 19.1 percent drop in DRAM revenue, to $9.1 billion — an outcome attributed to restricted HBM sales to China and delays stemming from product redesigns. Micron Technology, the American memory maker, maintained its position in third place with $6.58 billion in revenue and a 24.3 percent market share. Separate figures from Counterpoint Research echoed the TrendForce findings, placing SK hynix at a 36 percent share, narrowly ahead of Samsung at 34 percent. TrendForce projected a rebound in DRAM shipments in the second quarter, as PC and smartphone manufacturers complete inventory adjustments and scale up production. The firm also pointed to a temporary 90-day suspension of mutual tariffs between the United States and China as a catalyst for renewed demand. With inventory levels expected to stabilize, analysts anticipate a more favorable pricing environment that could lift revenues across the memory sector in the coming months. 2025-06-04 13:34:16 -
INTERVIEW: Beauty brand Moumou founder turning tutorials into sales SEOUL, June 02 (AJP) - For Yu Hyeon-gyeong, a veteran makeup artist with two decades of experience, the path from the broadcast studio to beauty entrepreneurship was anything but planned. Yet since launching her cosmetics brand, Moumou, in December 2023, she has quietly built a devoted following — driven largely by a steady stream of tutorial-focused Instagram content. “The secret to our success? Merely Instagram,” she said in a recent interview at her Cheongdam-dong salon, The Class Monarch. Yu, who spent more than a decade working with leading Korean broadcasters such as SBS and MBC, became a familiar name in media circles as the artist behind the polished looks of high-profile news anchors like Park Sun-young and Bae Hyun-jin. “I wasn’t someone who set out to start a business,” Yu said. “My parents were entrepreneurs, so I knew it wasn’t always a happy path.” Still, her move into cosmetics was a natural evolution, particularly as social media reshaped the beauty industry. Her salon began gaining traction on Instagram as early as 2016, well before the platform became mainstream in South Korea. “Every makeup artist dreams of creating their own brand,” she said. “We have a deeper love for cosmetics — and unique styles we want to express.” With Moumou, Yu aimed to break from the image of professional makeup brands she found too “sophisticated and difficult,” and instead positioned her products with an emphasis on usability. Her brand is built on what she calls a “friendship artist” philosophy. “I wanted cosmetics that not only looked pretty but also came with instructions on how to use them to look pretty,” she explained. “Like an appliance manual — but for makeup.” Naming the brand proved to be an unexpectedly complex process. She wanted a name that began with “M” to echo her salon, Monarch. After facing a series of trademark rejections, she settled on “Moumou” — a simple, visually intuitive name that she said even elementary schoolers could recognize online. “People don’t discover products by sound anymore. It’s all visual.” Yu’s business model eschews traditional advertising in favor of educational content. “If we release a grapefruit-colored product, we focus on showing people how to use it, not just how it looks in a photo,” she said. Her tutorials regularly attract between 800,000 and 1 million views, with demonstrative content far outperforming static imagery in generating sales. The strategy appears to be working. The brand has gained a particularly strong following in Japan, where consumers are drawn to Moumou’s soft, princess-inspired aesthetic. Japanese customers now represent roughly 80 percent of Moumou’s overseas clientele. “Distributors even asked if we created the brand specifically for Japan,” she said with a laugh. “We didn’t — but apparently the style resonates.” In April, Moumou entered the Japanese market through Bihibi, a distributor known for bringing Korean brands such as Skin Angel and AOU to local shelves. The company plans to expand into Loft stores by the second half of 2025. Yu attributes her trend sensitivity to her salon’s location in Seoul’s upscale Cheongdam-dong neighborhood, where beauty-savvy clients arrive with highly specific requests. “They won’t just ask for a pink lipstick,” she said. “They'll ask for detailed under-eye techniques or specific lip-overlining styles.” Despite close working relationships with her team — many of whom followed her from her broadcast days — Yu maintains clear boundaries. “Even though my deputy director and I have worked together for 17 years, we’ve only had two meals together,” she said. “I don’t message staff after hours unless it’s urgent. That distance keeps the relationship healthy.” As her employees began building social media followings of their own, Yu restructured the salon’s employment model, shifting from salaried positions to freelance contracts. “When they started receiving brand deals, I encouraged them to go freelance,” she said. “They can keep their outside income and still earn incentives through salon work.” Yu has turned down offers to expand through major platforms such as Amazon, preferring a deliberate, incremental approach to growth. “We’re a small brand, and I believe in doing each step right, rather than rushing.” While international markets beckon, her immediate focus remains on deepening Moumou’s presence at home. “My goal isn’t just to sell makeup — it’s to teach people how to enjoy it,” she said. “I want to help solve the concerns that clients bring to me every day.” 2025-06-02 16:10:20 -
Fans flock to Incheon for K-pop's global gathering SEOUL, June 02 (AJP) - Thousands of K-pop fans from across the globe converged on Incheon’s Inspire Entertainment Resort over the weekend for the 2025 Weverse Con Festival, the fourth installment of Hybe’s annual music celebration. Spanning two days, the event drew such a surge of international visitors that local restaurants within the sprawling resort struggled to accommodate the influx. The festival has evolved into a global pilgrimage for fans of Korean pop music, with attendees traveling from as far as Australia, China, and Japan. One fan from Sydney described herself as having become a “K-pop fanatic” during the early days of the pandemic. “It started with BTS in 2020,” she said. Since 2022, she has returned to Korea four times, initially for BTS tours and now, she noted, “on another tour for different artists with the BTS Australian ARMY.” The opening day was headlined by ENHYPEN, whose hour-long set featured 15 tracks performed with live band accompaniment. The seven-member boy group delivered an eclectic mix of songs, from the tender “Loose” and “XO (Only If You Say Yes)” to the darker, fantasy-infused “Bite Me.” They also premiered the unreleased “Far” from their forthcoming mini-album Orange Blood and previewed choreography from their new single “Bad Desire (With or Without You),” slated for release Thursday. Sunday’s lineup reflected the breadth of Hybe’s talent roster. Girl group LE SSERAFIM performed without member Huh Yunjin, who is recovering from a back injury, but the remaining members carried the set with high-energy renditions of “CRAZY,” “HOT,” “UNFORGIVEN,” and “ANTIFRAGILE.” Rising boy group TWS drew loud cheers as they returned to the festival for a second year. They performed fan favorites and surprised the crowd by joining a dance tutorial segment, an unscheduled but warmly received interlude. TOMORROW X TOGETHER closed out the festival for the third consecutive year, offering a 17-song set that included their recent digital single “Love Language” and several solo tracks. Veteran performer BoA took the stage as the festival’s tribute artist, marking her 25th anniversary with a nostalgic medley of early-2000s hits. The audience joined in for “Atlantis Princess” and “No. 1,” and the singer — long considered one of K-pop’s formative figures — announced a new album scheduled for August. The weekend also offered a glimpse into the next generation of K-pop. Newcomers such as P1Harmony and the Dreamcatcher subunit UAU rounded out the bill, offering performances that underscored Hybe’s efforts to cultivate emerging talent alongside its more established acts. 2025-06-02 13:52:16 -
Samsung Pay outage disrupts morning transactions across country SEOUL, June 02 (AJP) - A three-hour outage of Samsung Pay, the popular mobile payment service, disrupted morning routines across South Korea on Monday, leaving customers unable to complete transactions and prompting widespread frustration among users and retailers. The disruption began around 7 a.m. and was resolved by 10:22 a.m., according to Samsung officials. During the outage, users attempting to make purchases with their smartphones reported failures at convenience stores, cafes and other retailers, with some customers reportedly abandoning transactions altogether. Online forums and social media quickly filled with complaints. “Samsung Pay isn't working, so make sure to carry your physical card,” one user wrote. Another added, “I was trying to pay at a convenience store and was flustered because Samsung Pay didn't work.” In a statement posted to its community page, Samsung’s Wallet operation team said, “The issue causing errors when attempting card payments and registrations has been resolved, and normal usage is now possible.” The company said it is still investigating the precise cause of the malfunction. This is not the first technical issue to affect the service. On May 16, Samsung Pay experienced a brief disruption due to what the company described as a “temporary network equipment problem.” That incident was resolved within minutes. Samsung Pay, launched in 2015, is widely used in South Korea, where mobile payment adoption is among the highest in the world. 2025-06-02 11:22:22