Journalist

Cho Jae Hyung
  • 11st Launches Happy Family Week Discounts for May Gift Shopping
    11st Launches 'Happy Family Week' Discounts for May Gift Shopping With high prices persisting, South Korean e-commerce platform 11st is rolling out a large-scale discount campaign aimed at shoppers feeling the pinch as they prepare gifts for May, a month marked by family holidays. 11st said Monday it will run its “Happy Family Week” promotion through May 8, offering special deals on gifts spanning all ages, from Children’s Day toys to Parents’ Day home appliances and budget-friendly health supplements. The event, held in collaboration with popular domestic and global brands, features price cuts, live-stream sales and exclusive free gifts, the company said. Among the headline deals, 11st will offer steep discounts on massage devices, a common gift for parents. On April 28, it will sell Bodyfriend’s healthcare robot “Legnum Robot” at a discount of more than 540,000 won off the list price. It will also bundle popular lines and official refurbished products from brands including “New Falcon” and “Da Vinci AI,” with discounts of up to 61%. For value-focused shoppers, 11st is also promoting health supplements priced in the 20,000- to 30,000-won range, including premium deer antler, black ginseng and black goat extract. Orders placed before midnight on weekdays will be delivered free the next day via its “Shooting Delivery” service, it said. Other discounted items include anti-aging cosmetics such as Sulwhasoo, luxury accessories including Louis Vuitton, and seasonal staples such as carnations and cash envelopes. For Children’s Day, 11st is partnering with Lego. It will host a Lego-themed live broadcast at noon on April 22, followed by a “Lego One-Day Big Deal” on April 23 offering up to 30% off selected sets, including Lego Harry Potter, City, Duplo and Super Mario Game Boy series products. The company is also issuing a daily first-come, first-served 4,000-won cart coupon for customers who spend at least 50,000 won in the toy category through the end of this month. During the event period running through April 26, the top spender on participating Lego items will receive a free gift valued at 250,000 won: a “Lego Technic McLaren Formula 1 Race Car.” “We will target the April-May gift market with ample inventory and benefits so customers can prepare gifts economically even amid high prices,” said Ko Kwang-il, head of 11st’s sales group. 2026-04-21 15:46:43
  • Lotte Chilsung Marks 20 Years of Chum Churum Soju With Original 2006 Design
    Lotte Chilsung Marks 20 Years of Chum Churum Soju With Original 2006 Design Lotte Chilsung Beverage is rolling out a commemorative version of its Chum Churum soju to mark the brand’s 20th anniversary, reviving the original design used at its 2006 launch as it seeks to strengthen its position in the market. The company said Tuesday the refreshed packaging applies the early label to reinforce the brand’s heritage and to revisit the meaning of “first,” reflected in the product name. The updated label restores early visual elements such as a young bird and sprout. It also depicts the brand’s key ingredient — bedrock water from the slopes near Daegwallyeong — as a water droplet, underscoring its “smooth soju” identity. A neck label reading “20th ANNIVERSARY” has been added, and the front highlights the 16-degree alcohol mark. Lotte Chilsung Beverage lowered the alcohol content in July last year to 16 degrees from 16.5, a 0.5-degree cut, citing growing consumer demand for smoother soju. The company said it was the first change since a 2021 reduction. The product uses 100% bedrock water, adds rice-distilled spirits and blends in allulose, a natural sweetener. The company also pointed to strong results from hands-on marketing aimed at promoting its “100% bedrock water” message. The Chum Churum Brand Experience Center at its Gangneung plant has drawn more than 35,000 cumulative visitors since opening in April 2023, a company official said, with activities such as making personalized glasses and mixing soju cocktails gaining popularity through word of mouth. “Going forward, we will continue active marketing to promote the differentiated smoothness made with 100% bedrock water from Daegwallyeong,” a Lotte Chilsung Beverage official said. 2026-04-21 15:45:08
  • CU Stores Hit by Delivery Strike as Kimbap, Lunch Boxes Vanish and Sales Slide
    CU Stores Hit by Delivery Strike as Kimbap, Lunch Boxes Vanish and Sales Slide “Dozens of customers ask for kimbap or lunch boxes every day. When the shelves are empty, they don’t buy anything else and just leave. Why do only franchise owners have to bleed because headquarters and drivers are fighting?” A CU convenience store near a middle school in Goyang, Gyeonggi Province, was quieter than usual on Monday afternoon. Students who came looking for triangle kimbap turned away empty-handed, and the store owner sighed as he spoke. CU franchisees say they are facing mounting losses as a strike and blockades by the Cargo Truckers Solidarity CU branch, affiliated with the Korean Confederation of Trade Unions, have effectively halted deliveries of ready-to-eat foods, a key sales driver. The dispute has also raised broader concerns in the convenience store industry after a fatal accident involving a replacement truck during a rally near a logistics center. Industry officials said the KCTU held a rally Monday in front of BGF Retail’s headquarters in Seoul’s Gangnam district, blaming the company and the government and vowing an all-out fight. The truckers’ union has been on an all-out strike since April 5, demanding better treatment for delivery drivers and blocking major logistics centers. From April 17, it also blocked a plant in Jincheon, North Chungcheong Province, that produces 150,000 ready-to-eat items a day. The disruption has hit more than 3,000 CU stores nationwide. BGF Retail began operating an alternative logistics system and resumed ready-to-eat deliveries to some stores in the Seoul metropolitan area from Monday morning, but many outlets are still struggling with shortages, the industry said. On Sunday, during a rally in front of CU’s Jinju logistics center, union members trying to stop trucks from leaving collided with a cargo truck, leaving one person dead and two injured. A BGF Retail official said the company offered “deep condolences” and was working to resolve the situation. BGF Retail has said it has no reason to negotiate directly because delivery drivers sign individual contracts with outside transport companies. The union, citing the revised so-called Yellow Envelope Act, is demanding direct talks with BGF Retail as the principal company it says effectively controls the work. Franchise owners say they are bearing the brunt. Ready-to-eat foods draw customers and drive add-on purchases, they said. The CU Franchise Owners Association said some stores have seen daily sales fall an average of 20% to 30% due to out-of-stocks, amounting to losses of 500,000 to 600,000 won per store each day. Kim Mi-yeon, head of the CU Franchise Owners Association, said “about 30% of store sales have already disappeared” because of shortages and delayed deliveries. “Where in the Yellow Envelope Act does it say unrelated small business owners can be harmed?” she said. Kim has been holding a one-person protest in front of the National Assembly calling for the strike to end. Industry watchers said they are closely monitoring the risk of a prolonged dispute and a domino effect. If CU, the market leader, recognizes employer responsibility and enters direct talks, it could ripple through logistics networks across other convenience stores, supermarkets and e-commerce, an industry official said. “The moment BGF backs down, strikes could spread like wildfire, so the entire sector is holding its breath,” the official said. 2026-04-21 15:38:02
  • Shinsegae signs deal with US AI startup to build huge data center in South Korea
    Shinsegae signs deal with US AI startup to build huge data center in South Korea SEOUL, March 17 (AJP) - Shinsegae said Tuesday it has agreed to build a mega data center for artificial intelligence (AI) in South Korea in partnership with a U.S. AI company. The retail giant's chairman Chung Yong-jin met Reflection AI CEO Misha Laskin in San Francisco last Sunday and signed a memorandum of understanding (MOU) to form a strategic partnership to build the 250-megawatt data center. The AI startup's co-founder Laskin, along with Ioannis Antonoglou - a key developer of AlphaGo - both previously worked at Google DeepMind. U.S. Secretary of Commerce Howard Lutnick also joined their meeting and pledged to "actively support" the project's successful progress, according to Shinsegae. The partnership between the two companies is expected to become the first project under the American AI Exports Program, launched in 2025 under an executive order by U.S. President Donald Trump to promote "the export of full-stack American AI technology packages to allies and partners worldwide." Once completed, it would also be the largest data center built or planned in the country, according to Shinsegae. Shinsegae said it plans to make AI its core future business, accelerating efforts to apply it across shopping, logistics, and payment. Graphics processing units (GPUs) for the data center will be supplied by Nvidia through Reflection AI, which raised US$2 billion from investors including Nvidia in October last year after being valued at US$8 billion. "AI will wholly transform every field, making it impossible to survive without it," Chung said, adding that the data center will "serve as a foundation for Shinsegae's future growth and help foster South Korea's broader AI ecosystem." Touting South Korea as a global IT powerhouse and a strong U.S. ally, Laskin said the partnership with Shinsegae will establish AI infrastructure that South Korea can develop on its own. Shinsegae said the project under the MOU will proceed swiftly in phases, with the two companies planning to establish a joint venture within this year. 2026-03-17 10:30:09
  • The Man Who Lives With the King Tops 10 Million Moviegoers in South Korea
    'The Man Who Lives With the King' Tops 10 Million Moviegoers in South Korea The film 'The Man Who Lives With the King' has surpassed 10 million admissions. Distributor Showbox said the movie’s cumulative audience topped 10 million as of 6:30 p.m. on its 31st day in theaters. It is the 34th domestic release in South Korea to reach the milestone. The achievement comes as overall theater attendance has fallen sharply. It is the first domestic release in two years to draw 10 million moviegoers. The period drama follows the deposed King Danjong, Yi Hong-wi (Park Ji-hoon), during his final days in exile in Gwangcheonggol, Yeongwol, Gangwon Province, where he mixes with local residents. The story centers on village chief Eom Heung-do (Yoo Hae-jin), tasked with protecting and monitoring the exile, as he forms a bond with Yi that transcends status and age. The film reached 1 million admissions on its fifth day, 2 million on its 12th, and 3 million on Lunar New Year’s Day on Feb. 17, its 14th day in release. It passed 4 million the next day. On March 1, it drew about 817,000 viewers in a single day, its biggest daily total since opening, and went on to exceed 10 million in 31 days. It is the fourth period film to reach 10 million admissions, following 'The King and the Clown' (2005), 'Masquerade' (2012) and 'The Admiral: Roaring Currents' (2014). * This article has been translated by AI. 2026-03-06 18:51:19
  • Coupang expresses regret amid US House probe
    Coupang expresses regret amid US House probe SEOUL, February 24 (AJP) - Coupang has expressed "regret" that a dispute over alleged unfair treatment in South Korea prompted a U.S. House investigation. In a statement on Monday, "We regret the circumstances in Congressional deposition, and we remain committed to seeking a constructive resolution," said Robert Porter, Coupang's chief global affairs officer. "More broadly, Coupang hopes to be able to serve as a bridge between the United States and Korea, helping improve the bilateral economic relationship, strengthen the security alliance, and accelerate trade and investment that benefits both countries," he added. The statement came a few hours after Harold Rogers, Coupang's interim chief in South Korea, appeared for a closed-door session before the U.S. House Judiciary Committee in Washington, D.C., where he reportedly testified for about seven hours. His appearance followed an order earlier this month from the U.S. House Judiciary Committee to testify about whether South Korea is "targeting" the Seattle-based company with discriminatory actions, as part of a broader investigation into alleged unfair treatment of American businesses here. Coupang is under police investigation in South Korea over multiple allegations and suspected offenses related to a massive data leak detected last November, which is now believed to have affected about 33.67 million users and exposed their sensitive personal information, far more than the roughly 3,000 users initially reported. 2026-02-24 11:03:57
  • Auction to Shut Down Secondhand Marketplace Service After 25 Years
    Auction to Shut Down Secondhand Marketplace Service After 25 Years Auction’s secondhand marketplace, a service credited with helping shape South Korea’s online used-goods trade, will shut down after 25 years as mobile-first rivals dominate the market. According to the industry on Wednesday, Auction will end both the used-goods section on its website and its used-goods marketplace app starting March 31. New item listings in the app will stop first, on Feb. 26. An Auction official said the company decided to close the service to reassign staff and resources to “more efficient services.” The used-goods marketplace was closely tied to Auction’s origins. The company launched in 1998 as South Korea’s first auction-focused site, introducing a model in which individuals sold used items through open bidding. Auction opened the used-goods marketplace section in 2001. The service was also seen as helping standardize escrow-style payments — releasing funds only after a buyer confirms a purchase — as a way to reduce fraud that was common in community-based trading forums such as Joonggonara. Listings ranged from rare collectibles to home appliances and clothing, drawing sellers and buyers nationwide. Auction introduced an app in 2013. Auction’s position weakened in the late 2010s as mobile-optimized platforms such as Karrot, which is built around local neighborhoods, and Bunjang, which targets interest-based trading, gained ground. Users moved to specialized apps offering simple chat functions and GPS-based in-person transactions. Data from app and retail analytics service Wiseapp Retail showed that last month the number of unique users on major secondhand platforms was 23.4 million for Karrot, 4.73 million for Bunjang and 1.95 million for Joonggonara. Over the same period, app usage rates — the share of installers who actually used the app — were 69% for Karrot, 39% for Bunjang and 27% for Joonggonara. Wiseapp Retail said Auction’s used-goods marketplace was not included because its user base was not large. Industry observers said the shutdown reflects a push by Shinsegae Group’s e-commerce unit, which operates Gmarket and Auction, to improve efficiency. One industry official said a general e-commerce platform’s secondhand section can be less efficient in a market dominated by specialized apps, calling the move a strategic choice to drop inefficient services and focus on core open-market competitiveness.* This article has been translated by AI. 2026-01-29 08:58:05
  • Foreign shoppers make cash registers ring at department stores amid weak won
    Foreign shoppers make cash registers ring at department stores amid weak won SEOUL, January 23 (AJP) - Amid concerns over soaring consumer prices due to the weaking won against the greenback, South Korea has become a destination for luxury goods among many overseas shoppers. Foreign tourists have been lining up outside department stores in central Seoul even before they open for days' business. According to industry data released on Friday, foreign sales at Shinsegae's main branch in downtown Seoul jumped 82 percent last year, while its Gangnam branch saw a 52 percent increase. Sales at Lotte and Hyundai department stores also showed a similar trend, as purchases of luxury goods by foreign shoppers are rising fastest. In particular, foreign sales at Hyundai accounted for about 20 percent of its total sales. The main draw is price. With the weakening won, luxury goods in South Korea are nearly 10 percent cheaper for foreigners, and tax refunds for tourists can reduce prices even further. To capitalize on the trend, department stores are stepping up efforts to attract more overseas shoppers. Hyundai is preparing a tailored shopping program for foreign travelers, picking them up at Incheon International Airport upon arrival, while Shinsegae plans to expand promotions targeting short-term visitors and cruise passengers in the southern port city of Busan. Lotte introduced a foreigner-only membership credit card in December, offering a 5-percent discount and other benefits. Around 13,000 people have already signed up in just a month. Department stores anticipate strong sales as foreign arrivals are on the rise. According to the Korea Tourism Organization, some 17.42 million foreign tourists visited South Korea during the first 11 months of last year, up 15.4 percent from 15.10 million a year earlier. With December's figure included, the total is expected to surpass the previous record of 17.50 million set in 2019. "Foreign spending has become a key factor in ringing department store registers," an industry insider said. 2026-01-23 17:32:28
  • Lotte chair calls for quality-growth pivot as petrochemicals and retail falter
    Lotte chair calls for quality-growth pivot as petrochemicals and retail falter SEOUL, January 16 (AJP)-Lotte Group Chairman Shin Dong-bin on Thursday called for a decisive shift toward “quality growth” centered on profitability and efficiency, as the South Korean conglomerate’s flagship petrochemicals and retail businesses both posted weak performance last year, underscoring mounting pressure on the group’s traditional growth engines. The message came at Lotte’s first Value Creation Meeting (VCM) since a sweeping leadership overhaul late last year, with the C-suite gathering taking place against the backdrop of deteriorating business conditions across key affiliates and coinciding with the sixth anniversary of the death of founder Shin Kyuk-ho. The meeting, held at Lotte World Tower in Seoul, brought together Shin and about 80 CEOs and senior executives from the holding company and major affiliates. It marked the group’s first top-level strategy session following what Lotte described as its largest-ever generational reset, as the conglomerate confronts rising uncertainty at home and abroad. The VCM is held twice a year to align affiliates around the group’s mid- to long-term strategy. This year’s first-half meeting unfolded in a notably somber atmosphere, reflecting concerns over slowing growth and structural imbalances within Lotte’s business portfolio. Shin warned that the group’s recent growth momentum has weakened and said this year’s business environment is unlikely to be favorable. Strengthening fundamental competitiveness, he said, must take precedence if Lotte is to overcome headwinds and return to sustainable growth. The sense of urgency was reinforced by the group’s recent financial performance. Lotte’s two core pillars — chemicals and retail — both struggled last year, eroding the “twin-engine” model that has long underpinned the conglomerate’s earnings. According to estimates by financial data provider FnGuide, Lotte Chemical is projected to have posted an operating loss of 719.4 billion won ($520 million) last year amid prolonged weakness in the global petrochemical cycle. Lotte Wellfood’s operating profit is estimated to have declined 11.64 percent from a year earlier to 138.8 billion won, reflecting rising costs and slowing demand. Lotte Shopping was seen as a relative bright spot, supported by solid department store performance, though overall retail conditions remained challenging. In November, Lotte moved to reset its leadership structure, replacing around 20 affiliate CEOs in its regular 2026 executive reshuffle. All existing vice chairmen stepped back from frontline management roles, and the group abolished its business headquarters system introduced in 2022, shifting greater accountability and decision-making authority to individual affiliates. Reflecting the tense environment, most executives declined to comment to reporters as they entered the venue, though a few offered brief remarks. Lee Won-taek, CEO of Lotte GRS, said only that the company would “strengthen food tech” when asked about its artificial intelligence strategy, declining to elaborate on management priorities for the year. Lotte GRS, which operates Lotteria, has been accelerating kitchen automation and digital transformation since 2024, introducing cooking robots such as Alpha Grill and Boglebot. Kim Jong-yeol, CEO of Lotte Cultureworks, said the company would “read trends and lead the world in advance.” Lotte Cultureworks is pursuing a merger with Megabox JoongAng and is shifting its focus from theater operations toward content investment and distribution. During the closed-door session, executives held in-depth discussions on rebalancing strategies by business line to restore competitiveness. For food, the agenda included raising the value of core brands. In retail, executives discussed tailoring store strategies to specific commercial districts to maximize customer satisfaction. In chemicals, the focus was on swift restructuring aligned with government policy and upgrading the portfolio around specialty, high value-added products. Participants also discussed strengthening groupwide risk management to prevent information-security breaches and safety incidents before they occur. Shin laid out management principles he said must underpin the turnaround: a shift to profitability-based management, faster and more proactive decision-making, and vigilance against complacency rooted in past success. He urged executives to adopt return on invested capital (ROIC) as a core benchmark, stressing efficient investment and sustainable profitability over sales-driven expansion. All investments, he said, should be guided by clear principles and continuously reviewed for feasibility, including projects already underway. Following governance changes, Shin also called for quicker decision-making at the affiliate level. He asked CEOs to balance mid- to long-term vision with immediate operational challenges while fostering a culture in which employees can innovate and grow autonomously. Shin warned against the arrogance of believing the group is immune to structural change. “Innovation means continuously improving products and services to meet customer needs,” he said. “Small, customer-centered innovations can come together to create big innovation. Leaders must think seriously about what it takes to understand customers and resolve their inconveniences.” In closing, Shin delivered a blunt message. “If we do not change by breaking away from what is familiar, we cannot solve the problems we are facing now,” he said. “We must move quickly to innovate and strengthen our fundamental competitiveness by moving beyond past ways of succeeding.” Earlier in the day, Lotte held a memorial ceremony marking the sixth anniversary of the death of founder Shin Kyuk-ho. Attendees included Shin; his eldest son, Shin Yoo-yeol, vice president of Lotte Holdings and CEO of Lotte Biologics; and Lotte Holdings co-CEOs Ko Jung-wook and Noh Joon-hyung. * This article, published by Aju Business Daily, was edited by AJP. 2026-01-16 07:38:51
  • Koreas No.2 retailer Shinsegae loses data on 80,000 employees and subcontractors
    Korea's No.2 retailer Shinsegae loses data on 80,000 employees and subcontractors SEOUL, December 26 (AJP) -Shinsegae Group has become another South Korean major retailer to report data breach involving 80,000 employees and workers at partner companies, although no customer data was compromised. Shinsegae I&C, the group’s information technology arm, said Friday it had detected signs of unauthorized access to its internal intranet and confirmed that employee-related data had been leaked. The exposed information includes corporate ID numbers, names, departmental affiliations and IP addresses of Shinsegae Group employees as well as staff working for subcontractors, the company said. “No customer information was leaked,” Shinsegae I&C said in a statement. The company said it first detected the breach on Wednesday and reported the incident to the Korea Internet & Security Agency on Friday afternoon. Upon discovery, it conducted an emergency inspection, blocked affected systems and accounts, and took protective measures to prevent further damage. A malware infection is suspected to be behind the breach, although the exact cause has yet to be determined, according to the company. “We are currently investigating the precise cause and the full scope of the incident,” a Shinsegae official said, adding that the firm will actively cooperate with authorities. In an internal notice, Shinsegae I&C advised employees to immediately change their work-system passwords and remain vigilant against suspicious emails or phishing attempts. The company also said it plans to strengthen its security management systems to prevent a recurrence. Shinsegae Group is one of South Korea’s largest retail conglomerates, operating department stores, duty-free shops, the E-Mart discount chain and the Starbucks franchise in Korea. Its department store unit ranked second nationwide in 2024, operating 13 outlets and posting sales of 12.3 trillion won, accounting for 31.3 percent of the market. The incident comes amid heightened scrutiny over data security, following a major breach at e-commerce giant Coupang that exposed personal information of nearly 34 million customers and remains under investigation. 2025-12-26 21:17:49