Journalist

Cho Jae-hyung
  • Kolmar Group Reaffirms Commitment to Compliance Management on 36th Anniversary
    Kolmar Group Reaffirms Commitment to Compliance Management on 36th Anniversary Starting with just four employees, Kolmar Group has reached the status of a large business group after 36 years, reaffirming its commitment to compliance management on its anniversary. The event served as a reminder for all employees of the increased social responsibilities that come with the company's growth. According to Kolmar Group, Kolmar Holdings and Korea Kolmar held their '4th Compliance Day' events on May 14 at the Korea Kolmar Comprehensive Technology Center in Seocho-gu, Seoul, and at the Sejong plant in Jeonui-myeon, Sejong City, respectively. They designated May 15, their founding anniversary, as 'Compliance Day' and have held annual commemorative events since 2023. This year's event aimed to establish a culture of compliance programs (CP) within the group and enhance employees' awareness of legal compliance. Prior to the event, both companies conducted an ethics management pledge campaign involving all employees across their business sites. Notably, this year featured various experiential programs. Kolmar Holdings organized a 'CP Contest' for employees, inviting them to create slogans centered on compliance culture. This contest was held for the first time this year, with Vice Chairman Yoon Sang-hyun personally presenting awards to the winners. Korea Kolmar designated May 11 to 14 as 'Compliance Week,' offering both online and offline programs. Events such as 'Compliance MBTI' and 'Compliance Case Judgment Challenge' encouraged employee participation, and five employees recognized for their exemplary compliance practices received awards. On April 29, Kolmar Group became the first cosmetics original design manufacturer (ODM) to be designated as a large business group by the Fair Trade Commission, marking a significant milestone since its founding by Chairman Yoon Dong-han with four employees in 1990. As of the end of last year, Kolmar Group's total assets amounted to 5.2428 trillion won, meeting the asset criteria for large business groups. By subsidiary, Korea Kolmar reported 1.529 trillion won, HK Inno.N 2.0969 trillion won, Kolmar Holdings 546.1 billion won, and Kolmar B&H 520.6 billion won. Kolmar Group has diversified its business from cosmetics into pharmaceuticals, biotechnology, and health supplements, achieving growth through global expansion. Last year, Korea Kolmar recorded consolidated sales of 2.7224 trillion won and an operating profit of 239.6 billion won, marking double-digit growth and the highest performance in its history. Vice Chairman Yoon stated, "The compliance program is a core competitiveness that influences corporate value and trust. We will continue to enhance our compliance system at the group level to meet the heightened social responsibilities and expectations following our designation as a large business group." * This article has been translated by AI. 2026-05-18 14:44:13
  • Lotte Home Shopping Launches First Dedicated App for ChatGPT Shopping
    Lotte Home Shopping Launches First Dedicated App for ChatGPT Shopping Lotte Home Shopping has launched the first dedicated shopping application within the generative AI platform ChatGPT, allowing users to search and purchase products in one seamless experience. The company has accelerated its transition to AI commerce by introducing a virtual human host named 'Lucy' and an in-house AI chatbot called 'Belly Gunggeumi.' This new app leverages the convenience of conversational AI. On May 18, Lotte Home Shopping announced the release of its dedicated app that can be accessed directly within ChatGPT. The key feature is that users can utilize Lotte Home Shopping's services through conversation without needing to install a separate app or visit a website. Using the app is straightforward. Users simply select 'Apps' from the ChatGPT menu, search for Lotte Home Shopping, and start chatting. They can ask everyday questions such as, "What are today's broadcast programs?" "When is the kitchenware broadcast?" or "What discounts are available this month?" to receive immediate responses. The app is linked to Lotte Home Shopping's actual shopping data, providing personalized product recommendations and broadcast information, with suggested items directly connected to purchase links. Previously, users had to navigate categories or input search terms to find desired products in existing home shopping apps. This new service replaces that process with conversational queries, reducing search time and allowing users to compare products and check benefits all on one screen, enhancing convenience. Earlier, several Lotte affiliates, including Lotte Department Store and Lotte On, had also launched dedicated apps connecting their services to ChatGPT.* This article has been translated by AI. 2026-05-18 14:41:17
  • Emart Plans 500 Billion Won Capital Increase for Shinsegae Construction
    Emart Plans 500 Billion Won Capital Increase for Shinsegae Construction Emart is moving forward with a capital increase of 500 billion won for its subsidiary, Shinsegae Construction. According to a filing with the Financial Supervisory Service on May 14, Emart will participate in the capital increase through cash and asset contributions. The cash contribution will amount to 240 billion won (48%), while the asset contribution will be 260 billion won (52%). The assets being contributed include land and buildings owned by Emart at the Myungil branch. Emart will provide these assets in exchange for newly issued shares from Shinsegae Construction. Shinsegae Construction plans to issue 10 million common shares at a price of 50,000 won per share. Emart, as the major shareholder, will fully subscribe to the new shares. The payment deadline for the new shares is set for June 25. An Emart representative stated, "This decision aims to enhance financial structure and secure management stability through increased construction capital, thereby boosting market confidence and enabling stable business operations in the future." In related news, Emart reported a consolidated operating profit of 178.3 billion won for the first quarter, an 11.9% increase compared to the same period last year. Although net sales decreased by 1.3% to 7.1234 trillion won, profitability showed significant improvement. This marks the highest first-quarter operating profit since 2012. On a standalone basis, operating profit also rose by 9.7% to 146.3 billion won, achieving the highest first-quarter figure in eight years since 2018. Standalone total sales increased by 1.9% to 4.7152 trillion won.* This article has been translated by AI. 2026-05-14 20:13:58
  • Lotte Home Shopping Shareholders Reject Motion to Dismiss CEO Kim Jae-gyeom
    Lotte Home Shopping Shareholders Reject Motion to Dismiss CEO Kim Jae-gyeom A motion to dismiss Kim Jae-gyeom as CEO of Lotte Home Shopping was rejected at an extraordinary shareholders' meeting held on May 14. Taekwang Industrial, the company's second-largest shareholder, had proposed the dismissal. A representative from Lotte Home Shopping stated after the meeting, "The motion to dismiss the CEO was rejected at the extraordinary shareholders' meeting convened at the request of some shareholders. The company respects the exercise of shareholder rights. We hope shareholders will accept the outcome responsibly and work together for the company's growth." The representative added, "Lotte Home Shopping's management will do its utmost to be a company trusted and loved by shareholders, customers, partners, and employees through responsible management." As a result, Kim will continue in his role as CEO. Taekwang Industrial has criticized Kim's management, citing the approval of internal transactions between Lotte Home Shopping and its affiliate, Lotte Shopping, which was rejected by the board in January but continued nonetheless. In March, Taekwang also opposed Kim's reappointment for similar reasons. The rejection of the dismissal motion reflects the influence of Lotte Shopping, the largest shareholder, which holds a 53% stake in Lotte Home Shopping, while Taekwang holds 45%. The two companies have been in conflict over management rights since acquiring the predecessor of Lotte Home Shopping, Woori Home Shopping, in 2006. Taekwang Industrial is reportedly considering filing for an injunction against Kim's duties and pursuing a lawsuit for his dismissal in court. * This article has been translated by AI. 2026-05-14 18:42:59
  • CJ Olive Youngs Olive Better Marks 100 Days of Success, Plans 10 New Stores
    CJ Olive Young's 'Olive Better' Marks 100 Days of Success, Plans 10 New Stores CJ Olive Young's wellness curation platform, 'Olive Better,' is set to expand its offline presence following a successful 100 days since its launch. The company plans to open 10 new stores in key areas of Seoul, including Myeongdong and Seongsu, capitalizing on strong demand from foreign tourists and the 2030 demographic to take the lead in the K-wellness market. On May 14, Olive Young announced its intention to expand the number of Olive Better stores to 10 by the end of the year. Launched on January 30, Olive Better extends the health category into a broader wellness platform under the value of 'healthy beauty.' It redefined the abstract concept of wellness into intuitive categories such as 'eating well' and 'filling well,' introducing related products to the market. According to a report published by Olive Young at the end of last year titled '2026 Trend Keywords,' consumers in the U.S., U.K., and China all prioritize wellness as a top daily concern. Customers aged 15 to 24 purchasing wellness products at Olive Young have also shown double-digit growth annually since 2022. Data analyzed by Olive Young on the 100-day anniversary of Olive Better indicates that 1.8 million members made their first wellness product purchase since the launch. Demand from foreign customers exceeded expectations, with the share of foreign sales at the Gwanghwamun store surging from 7% in the first week of February to nearly 50% by the end of April. Notably, the top five products purchased by foreign customers were all domestic brands, including Rejuran, B.B.Lab, and Nothing Barrel. The product lineup has also proven effective. By selling wellness shots and gummy health products individually, Olive Better lowered the entry barrier, resulting in these two categories accounting for more than half of the top 30 products sold in stores as of the end of last month. The in-house brand 'All the Better' has created a positive cycle, with over 50 products, including gummies, olive oil, and water sticks, offered at competitive prices, leading customers to purchase an average of 3 to 4 additional products from other brands. The initiative has also fostered the growth of small brands. Protein shake brand 'Flymeal' and tea bag brand 'Nothing Barrel' have successfully introduced new product lines, 'Witch Soup' and 'Wellness Shot,' respectively, through Olive Better. Over the 100 days since its launch, more than 560 domestic and international wellness brands and over 13,000 products have been newly introduced. Following the 100-day milestone, Olive Young plans to enhance the curation of Olive Better both online and offline. The online mall will be reorganized to create a tailored shopping environment by categorizing existing items based on specific purposes and functions. An Olive Young representative stated, "We will continue to discover emerging domestic wellness brands and drive market innovation to strengthen the competitiveness of K-wellness."* This article has been translated by AI. 2026-05-14 16:54:26
  • Shinsegae Launches Premium Rice Subscription Service
    Shinsegae Launches Premium Rice Subscription Service Despite a yearly decline in per capita rice consumption, interest in the quality of rice has been rising. In response to this demand, Shinsegae Department Store has launched a premium rice subscription service. On May 14, Shinsegae announced that it began its "Fermentation: Store" brand's "Online Rice Subscription Service" at the end of last month. The service delivers top-quality rice, curated by rice sommeliers and Korean chefs, directly to customers' doorsteps. Based on the philosophy that freshness is key to taste, the service ensures that freshly milled rice is delivered every two weeks. The subscription model was developed in response to changing consumer preferences for premium products. According to research by the Korea Rural Economic Institute, the percentage of consumers checking rice varieties when purchasing rose from 12.3% in 2021 to 16.4% in 2024. The service was inspired by positive customer feedback. Rice from the "Fermentation: Store" was supplied to Shinsegae's Korean dining venue, "Jaju Hansang," where diners praised the quality, leading to the development of the subscription service. The flagship product is "Okro," a blend of domestic rice varieties Samgwang, Baekjinju, and Yeori-hyang. It has been noted for its chewy texture and harmonious aroma. This blend is the result of years of collaboration between rice sommeliers and chefs from the Korean Food Research Institute. Since its launch in 2024, Okro has seen steady growth, with sales increasing by 15% from January to April this year compared to the same period last year. The service also offers various packaging sizes to accommodate different household needs, ranging from 450 grams to 1 kilogram for smaller packages, and larger options of 4 kilograms and 10 kilograms. The 10-kilogram option is available exclusively through the subscription service. Online, customers can choose from four sample rice blends and four mixed subscription options, with one-month and three-month subscription plans available. A promotional discount of up to 23% is offered throughout May, and subscriptions can be made through Beyond Shinsegae and SSG.com. This rice subscription service is part of Shinsegae's ongoing expansion of subscription services in the food category. In 2020, Shinsegae pioneered the "Bread Subscription Service," becoming the first department store to offer such a service, allowing customers to pick up one bread item daily for a monthly fee of 50,000 won. Additionally, Shinsegae offers a seasonal fruit subscription service for VIP customers (Emerald grade and above), with options for deliveries twice a month (120,000 won) or four times a month (240,000 won), allowing customers to choose their preferred delivery days from Tuesday to Friday, excluding Mondays. Han Hee-jung, head of the Korean Food Research Institute at Shinsegae, stated, "We will continue to discover and present high-quality food products from Korean artisans, adhering to the philosophy of Fermentation: Store, which seeks to preserve traditional methods while pursuing refined Korean cuisine."* This article has been translated by AI. 2026-05-14 12:38:54
  • Shinsegaes E-Mart Reports Highest First-Quarter Operating Profit in 14 Years
    Shinsegae's E-Mart Reports Highest First-Quarter Operating Profit in 14 Years Shinsegae Group Chairman Jeong Yong-jin's declaration of a "year of renewed growth" at the start of the year has been validated by impressive first-quarter results. E-Mart reported an operating profit of 178.3 billion won, marking its highest first-quarter performance in 14 years. Traders also achieved record quarterly sales, and the impact of the Starfield Market renovation is evident in the numbers. E-Mart announced on May 13 that its consolidated operating profit rose 11.9% year-on-year to 178.3 billion won. Although net sales decreased by 1.3% to 7.1234 trillion won, profitability showed significant improvement. This consolidated operating profit is the highest for the first quarter since 2012. The standalone operating profit also increased by 9.7% to 146.3 billion won, the highest for the first quarter in eight years since 2018. Standalone total sales rose by 1.9% to 4.7152 trillion won. In his New Year’s address, Chairman Jeong stated, "The innovative decisions made by Shinsegae Group over the past two to three years have been meticulous preparations for renewed growth, and in 2026, we will soar high." He emphasized the need to restore the "top nature" befitting a leading company and to establish a new market paradigm shift. In the first quarter alone, Jeong visited key locations, including Starfield Market in Jukjeon and Traders in Guwol, four times to assess operational effectiveness. The paradigm shift Jeong announced in his New Year’s address has been demonstrated in the first quarter, serving as a catalyst for E-Mart's transformation. The primary driver behind this performance improvement is the "customer-oriented space innovation." Stores that have been renovated into experience-focused Starfield Markets have achieved remarkable results. For instance, the first-quarter sales at the renovated Ilsan store increased by 75.1% compared to the same period last year, and the number of visitors surged by 104.3%. The Dongtan and Gyeongsan stores also recorded double-digit sales growth of 12.1% and 18.5%, respectively. Notably, the proportion of customers staying for over three hours increased by an average of 87.1% across the three renovated stores. The company explained that the focus on experiential content and the design of stay-oriented spaces have extended customer dwell time and shifted consumption patterns toward experience-driven shopping, enhancing offline competitiveness. Price innovations that pass on cost improvements to customers also contributed to the success. E-Mart's flagship discount event, the "Whale It Festa," saw sales and customer numbers grow by 3.5% and 6.0%, respectively, compared to the previous year. The growth of the warehouse-style discount store Traders also bolstered overall performance. Traders reported total sales of 1.0601 trillion won in the first quarter, a 9.7% increase year-on-year, setting a new quarterly record. Operating profit rose by 12.4% to 47.8 billion won. Sales of the private brand "T-Standard" increased by 40% year-on-year, while the dining corner "T-Cafe" grew by 24%. The company plans to continue product innovation by replacing over 50% of its operating products this year. Key subsidiaries also contributed to the growth. Chosun Hotel & Resort achieved a 116.7% increase in operating profit to 3.9 billion won, driven by improved average spending per guest. SCK Company, which operates Starbucks, maintained stable growth with a 7.3% increase in net sales to 817.9 billion won compared to the previous year. Gmarket rebounded in gross merchandise volume (GMV) growth after four years since launching its joint venture with AliExpress, despite continuing operating losses. The company explained that this planned investment prioritizes market share and customer base expansion. In March, GMV and average spending per customer increased by 12% and 10%, respectively, with similar trends continuing into April. E-Mart stated, "The innovative paradigm shift emphasized by Chairman Jeong in his New Year’s address is already showing visible results in the first quarter, and we will accelerate future new business initiatives, including the construction of an artificial intelligence (AI) data center, based on the growth of our existing operations."* This article has been translated by AI. 2026-05-13 22:04:56
  • Lotte Department Store Expands VIP Experience with Culinary Tours and Luxury Content
    Lotte Department Store Expands VIP Experience with Culinary Tours and Luxury Content Lotte Department Store is evolving its VIP membership program from a focus on point accumulation to a "lifestyle curation" model. The revamped AvenueL program aims to enhance the experiences of its top-tier customers by expanding exclusive travel, fine dining, and unique cultural events. On May 13, Lotte Department Store announced the transition from the existing "AvenueL Points" system to "AvenueL Curation," which will strengthen content-focused VIP services. AvenueL Curation allows customers to utilize tiered points to experience luxury lifestyle content at over 100 partner locations across six categories: luxury hotels, fine dining, golf and leisure, stay, cuisine, wellness, store, and charity. A highlight of the program is an exclusive tour of Ulleungdo scheduled for next month, featuring a private dining experience with Chef Jeong Ho-young and wine pairings by Lotte Department Store's sommelier Han Hee-soo, set against the backdrop of the luxury resort "Cosmos Villasome." The tour will also include a scenic drive along the Ulleungdo coastline in a BMW 7 Series and visits to local attractions, combining nature, gastronomy, and mobility into a single experience. Customer response to AvenueL's exclusive content has already been positive. Last month, Lotte Department Store hosted a gala dinner with Michelin three-star chef Yannick Alléno, which sold out quickly due to limited seating. Previously, a private wedding showcase held at the high-end Hanok resort "The Hanok Heritage" in Yeongwol, Gangwon Province, was also a success. Directed by renowned wedding planner Moon Jeong-kyung, the event included accommodations, a dress and hanbok runway, and an after-party, and despite a high package price of 1 million won for two, it received rave reviews and sold out early. Park Sang-woo, head of marketing at Lotte Department Store, stated, "We plan to continuously expand differentiated content for our AvenueL customers, offering experiences that are more finely tailored to their tastes and lifestyles."* This article has been translated by AI. 2026-05-13 19:09:32
  • Adult Consumers Drive 75% Surge in CU Toy Sales for Childrens Day
    Adult Consumers Drive 75% Surge in CU Toy Sales for Children's Day Convenience store CU has reported a significant boost in sales due to character collaboration products aimed at Children’s Day, appealing to adult consumers, or "grown-up kids." Character merchandise has evolved from simple toys to essential items for collectors and fandoms. CU announced that from May 1 to May 11, toy sales surged by 75.1% compared to the same period last year. The character collaboration products launched for the family month have sparked interest not only among children but also among the 2030 age group, becoming a key sales category. The adult consumer segment has been the driving force behind the success of character products. An analysis of customer demographics from May 1 to May 11 revealed that buyers in their 20s accounted for 33.1% of purchases, followed by those in their 30s at 28.3%, teenagers at 23.5%, those in their 40s at 12.4%, and individuals over 50 at 2.7%. This indicates that the 2030 age group represents over 60% of total buyers. As a result, CU's sales from character intellectual property (IP) collaboration products have shown a steep upward trend. The sales growth rate was 320.0% in 2023, 82.2% in 2024, and 105.7% this year, maintaining a strong growth trajectory. The number of related product items has also expanded significantly, from about 280 in 2023 to over 370 last year, establishing itself as a major differentiating product line for the convenience store. This year’s limited edition products for Children’s Day have been flying off the shelves. The "Pokemon Card Pack 4 Types," containing five random Pokemon cards, sold 250,000 units within just three days of its launch on May 2. With a limited stock of approximately 265,000 packs, 96% of the available inventory has already been sold. Additionally, a planned product from the animation "Pat and Mat" saw sales of 10,000 sets, with the "Keycap Keyring" becoming a popular item, selling over 5,000 units. The character craze is also evident in CU's own commerce application, "Pocket CU," where nearly half of the top 10 search terms are related to characters, including Pokemon bread, Pokemon cards, Pat and Mat, and Pinglu Greek blueberry. Notably, the "Yozum Pinglu Greek Blueberry Yogurt," released in mid-March, has recorded sales of 200,000 units, driven by its cute character design and random figures appealing to younger collectors. The character trend is spreading across the convenience store industry. Seven-Eleven reported a 180% increase in sales of Sanrio collaboration products during this Children’s Day season, while GS25 saw a 171.1% rise in sales of travel-themed character products compared to the previous month. Analysts suggest that convenience stores are emerging as a key channel for purchasing Children’s Day gifts, surpassing toy and stationery stores. Lim Hyung-geun, head of the product division at BGF Retail, stated, "Recently, character IP has become a core content that attracts customers to stores, moving beyond simple marketing elements. In the future, CU will continue to offer products that provide customers with differentiated experiences and collectible value at convenience stores."* This article has been translated by AI. 2026-05-13 17:48:36
  • Jollibee Appoints Former Samsung Executive Myung-Joo Song as CEO of Shabu All Day
    Jollibee Appoints Former Samsung Executive Myung-Joo Song as CEO of Shabu All Day A former Samsung Electronics executive has been appointed as the new CEO of Shabu All Day, a shabu-shabu brand. This marks the first executive appointment since the global restaurant company Jollibee Foods Group acquired All Day Fresh. All Day Fresh announced on May 13 that it has appointed Myung-Joo Song, a former vice president at Samsung Electronics, as its new CEO. Song joined Samsung Electronics as part of its first female graduate recruitment program and worked there for over 30 years, overseeing the brand strategies and global operations for premium appliance brands such as 'Bespoke' and 'Grande.' He has held various positions, including head of the Sales Innovation Group and Global PM Group, and has expertise in brand and marketing. The decision to appoint someone with no prior experience in the restaurant industry reflects Jollibee Foods' strategic calculations. The company aims to develop Shabu All Day into a leading global brand representing K-food, prioritizing the new CEO's brand planning skills and global business experience. Earlier, Jollibee Foods acquired 100% of All Day Fresh's shares for approximately 130 billion won through its Korean subsidiary, Jollibee-K, and a consortium with private equity firm Elevation Equity Partners Korea. With the completion of this acquisition, All Day Fresh has fully separated from its former parent company, Myung-Ryun-Dang, and is now officially a subsidiary of Jollibee Foods Group. Song stated, "I will integrate the food and beverage operational know-how accumulated by the parent company into Shabu All Day to provide greater value to consumers while creating a sustainable growth model that benefits franchise owners. I plan to strengthen management focused on the field, keeping in mind that customer trust is the essence of this business." Shabu All Day has grown by offering unlimited shabu-shabu made with premium beef and fresh vegetables at affordable prices. Since opening its first location in July 2023, it has expanded to 172 stores nationwide in just three years.* This article has been translated by AI. 2026-05-13 17:00:14