Journalist

Cho Jae-hyung
  • BGF Logis, Cargo Truckers Union Reach Deal; Improvements to Apply to All Drivers
    BGF Logis, Cargo Truckers Union Reach Deal; Improvements to Apply to All Drivers BGF Logis, the logistics unit of BGF Retail, said it has reached a final agreement with the Cargo Truckers Union, ending a dispute that disrupted deliveries. In a statement released April 30, BGF Logis said talks with the union concluded that day and that the resulting improvements in working conditions will apply equally to all transport workers who work with the company, regardless of affiliation or union membership. The company said blockades at its logistics centers and ready-to-eat food plants will be lifted immediately once the agreement is signed, and deliveries will resume in stages after each site completes internal preparations. BGF Logis said it decided to extend the terms to nonunion workers to fulfill its “duty and responsibility” to those who stayed on the job during a difficult period. It added that it will use the agreement as an opportunity to build a healthier logistics ecosystem and will continue efforts to support customer convenience and stable store operations. The agreement signed earlier April 30 includes a 7% increase in transport fees, one paid day off per quarter for truck owner-operators, guarantees for union activities, and civil and criminal immunity related to the recent rallies, along with withdrawal of injunction requests, according to reports. It also includes provisions on restoring the honor of a deceased union member and paying respects. BGF Retail, which operates the CU convenience store chain, said it will prepare support measures for franchisees. The company plans to assess damage at stores, gather feedback from the field and develop assistance plans. After internal preparations, BGF Logis plans to restart operations centered on its Jincheon logistics center and aims to normalize all logistics centers and plants within this week. * This article has been translated by AI. 2026-04-30 16:01:44
  • Subway to Raise Prices Starting May 7; 15 cm Sandwiches Up 210 Won on Average
    Subway to Raise Prices Starting May 7; 15 cm Sandwiches Up 210 Won on Average Subway will raise menu prices starting May 7, citing higher ingredient costs and rising operating burdens for franchisees. The sandwich chain said April 30 that the increases will apply to sandwiches, sides and drinks. For its best-selling 15 cm sandwiches sold a la carte, prices will rise by an average of 210 won, or about 2.8%. A la carte drinks and set menus will be adjusted by 100 won to 200 won. Among major 15 cm items, the Egg Mayo will increase to 6,200 won from 5,900 won, and the Italian BMT to 7,500 won from 7,200 won. The cookie side will rise 100 won to 1,600 won. A Subway official said the company made the changes because of “continued increases in ingredient costs and the operating burden on franchisees,” adding that it minimized the hikes through internal cost-cutting and will “provide consumers with more choices” through value-focused menu items.* This article has been translated by AI. 2026-04-30 11:12:16
  • Lotte Samdong Welfare Foundation Donates Gift Boxes to Ulsan Children, Funds Founder’s Schools
    Lotte Samdong Welfare Foundation Donates Gift Boxes to Ulsan Children, Funds Founder’s Schools The Lotte Samdong Welfare Foundation marked Family Month in May by providing support to vulnerable children in Ulsan, the hometown of the late Shin Kyuk-ho, honorary chairman of Lotte Group, and by donating to his alma maters. The foundation said April 30 it held a delivery ceremony April 29 at Dongcheon Gymnasium in Jung-gu, Ulsan, for the ‘2026 Ulsan first-half Shin Kyuk-ho Lotte Pleasure Box support program’ and provided gift sets worth 120 million won for children from disadvantaged households in the city. Working with the Ulsan Community Chest of Korea, the foundation selected 2,300 children registered at local children’s centers, orphanages and facilities for people with disabilities across Ulsan’s five districts and counties: Jung-gu, Nam-gu, Dong-gu, Buk-gu and Ulju County. The children will receive “Pleasure Box” packages that include Lotte snacks, character-themed school supplies and Bluetooth earphones. Chairwoman Jang Hye-seon said the boxes were prepared “with encouragement for children to smile more brightly, study harder and grow,” adding she hopes they will remain “a warm memory” that tells children, “Someone is cheering for me.” Also on April 29, the foundation visited Eonyang-eup in Ulju County and held a separate event for students at Shin’s alma mater. At the ‘Shin Kyuk-ho Lotte Alma Mater Love development fund’ ceremony at Eonyang Elementary School, the foundation donated 10 million won each to Eonyang Elementary and Samdong Elementary, for a total of 20 million won. The money will be used for student welfare and educational activities, the foundation said. Eonyang Elementary plans to use the funds to buy uniforms for school sports clubs, cover competition fees and support student council activities. Samdong Elementary said it plans to provide scholarships of 200,000 won per student for all 36 students, and help cover costs for school trips and experiential learning programs. At the ceremony, Jang said she believes people become “truly admirable adults” when they can share their success with others and take extra care of neighbors in need, as her maternal grandfather, the late Shin, did. She said she hopes Eonyang Elementary students will keep that meaning in mind and grow into adults who give to others. The foundation said it has provided a total of 1.54 billion won through the ‘Shin Kyuk-ho Lotte Pleasure Box’ program through this year, benefiting 62,477 people. Cumulative support under the ‘Shin Kyuk-ho Lotte Alma Mater Love’ program totals 540 million won.* This article has been translated by AI. 2026-04-30 10:19:58
  • Shinsegae Group Overhauls Strategy Office, Puts Unit Under Chairman Chung Yong-jin
    Shinsegae Group Overhauls Strategy Office, Puts Unit Under Chairman Chung Yong-jin Shinsegae Group said it is moving to overhaul its Management Strategy Office, the group’s control tower, as it seeks faster and bolder innovation amid rapid changes in the retail environment. The company said on the 29th that it has begun practical procedures for a broad reorganization of the office to turn it into an innovation unit with stronger execution and a focus on identifying future growth engines. It said the central aim is to deliver “faster and more accurate innovation.” Shinsegae said it plans to reshape the office into an organization that drives bold internal challenges while presenting a new vision to lead South Korea’s retail market, adding that the goal is ultimately to increase customer satisfaction. As part of the restructuring, Shinsegae said it has ended Lim Young-rok’s dual role as head of the Management Strategy Office and CEO of Shinsegae Property. Lim will now focus fully on his post at Shinsegae Property, where he will concentrate on major projects including Starfield Cheongna and Hwaseong Starbay City, the group said. Until the reorganization is completed and a new strategy chief is formally appointed, Shinsegae said it will run the Management Strategy Office under Chairman Chung Yong-jin and ensure the control tower carries out its core functions.* This article has been translated by AI. 2026-04-29 18:10:19
  • Philip Morris Korea Names Heated-Tobacco Specialist Lee Hong-seok as New CEO
    Philip Morris Korea Names Heated-Tobacco Specialist Lee Hong-seok as New CEO Philip Morris Korea has appointed an internal marketing and strategy executive to lead its push for a “smoke-free future,” naming Lee Hong-seok, head of its smoke-free products business, as its next chief executive. The company said Tuesday that Lee, currently director in charge of smoke-free products, will become CEO effective May 1. Lee joined Philip Morris Korea in 1999 and has spent more than 25 years across key roles, the company said, earning recognition for results in domestic commercial operations and marketing. The company also cited his overseas leadership. Lee worked in Singapore and Hong Kong before becoming head of Philip Morris’ Taiwan unit in 2018, where he led efforts to develop business models and drive organizational changes amid a rapidly shifting market. After returning to Korea in 2021, he led commercial operations and later oversaw smoke-free products. Philip Morris Korea said he expanded its lineup of smoke-free products, including heated tobacco, and strengthened customer satisfaction, supporting qualitative growth in its local business. Lee said he will deepen cooperation with the government, public health experts and other stakeholders so that efforts to shift to smoke-free products can contribute to Korea’s broader public health goals. He also pledged to play a constructive role in Korean society through “open and scientific dialogue” and continued innovation.* This article has been translated by AI. 2026-04-29 15:47:25
  • Korea FTC Names Coupang Chair Kim Beom-seok as Group Head, Raising Regulatory Stakes
    Korea FTC Names Coupang Chair Kim Beom-seok as Group Head, Raising Regulatory Stakes South Korea’s Fair Trade Commission has designated Coupang’s “same person” — the group head for oversight purposes — as Kim Beom-seok, chair of Coupang Inc., replacing the current designation of the company as a corporate entity. The FTC said its assessment that Kim’s younger brother, Kim Yu-seok, is involved in management was a decisive factor. The change is expected to tighten governance scrutiny as Coupang also faces multiple pending FTC investigations. According to industry officials on Tuesday, Kim Yu-seok’s role inside the company was widely seen as the key variable behind the shift. The FTC first designated Coupang as a large business group subject to disclosure in 2021, but named the corporation — not Kim — as the group head. While the agency viewed Kim as effectively controlling Coupang, it cited the lack of precedent for naming a foreign national as group head and concerns that enforcement tools, including curbs on self-dealing, would be less effective in such cases. In May 2024, the FTC revised and implemented an enforcement decree under the Monopoly Regulation and Fair Trade Act to set exception requirements for corporate group-head designations, and it concluded Coupang met them. However, during a National Assembly hearing last year, the FTC said it determined the company no longer satisfied the exception conditions — including the requirement that relatives not participate in management of domestic affiliates — after Kim Yu-seok was identified as holding the title of vice president. The FTC is also reported to have confirmed his status through on-site inspections, including checking compensation for other registered executives. Choi Jang-gwan, director general of the FTC’s Corporate Group Monitoring Bureau, said at a briefing that what mattered was not “formal aspects” such as title or pay, but whether the person’s involvement and compensation were comparable to registered executives who substantially take part in management. He said Coupang has internal tiers for participation in major decisions and that Kim Yu-seok was “almost at the top level” by that measure. The redesignation is expected to significantly increase regulatory requirements across Coupang’s governance structure. Disclosure obligations will expand to include overseas affiliates. Once a year, Coupang must disclose general and shareholder information for foreign affiliates in which Kim and his relatives together hold at least 20% of total issued shares. Coupang must submit related materials to authorities by the end of next month. The company is also expected to fall under Article 47 of the fair trade law, which bans unfair provision of benefits to related parties, often described as restrictions on self-dealing. When the corporation was designated as group head, Coupang was not subject to that provision. With Kim designated as the individual group head, regulators are expected to closely monitor whether group companies provide business opportunities or improper benefits on favorable terms to firms controlled by relatives. Analysts also said pressure could rise on Kim to shoulder social responsibility as the group’s de facto controller. They said that in the event of major issues such as serious safety accidents or labor disputes, it would be harder to justify refusing requests to appear before the National Assembly, and scrutiny could intensify. With the designation process completed, the FTC may also accelerate deliberations on sanctions in major pending cases involving Coupang. Those include allegations of tying related to the Wow membership program and allegations that Coupang Eats demanded most-favored treatment. 2026-04-29 15:45:29
  • Coupang to Challenge FTC Move Naming Kim Beom-seok as Group’s Controlling Person
    Coupang to Challenge FTC Move Naming Kim Beom-seok as Group’s Controlling Person Coupang said Tuesday it will pursue an administrative lawsuit after South Korea’s Fair Trade Commission changed Coupang’s designated “same person,” or controlling person, from a corporate entity to Coupang Inc. Chairman Kim Beom-seok, calling the move “double regulation.” In a statement, Coupang said Coupang Inc. owns 100% of its Korean unit, and the Korean unit in turn owns 100% of its subsidiaries and sub-subsidiaries, describing the structure as transparent. It said Kim and his relatives do not hold shares in the Korean affiliates, leaving “no concern at all” about private benefit or self-dealing. Coupang added that as a U.S.-listed company, Coupang Inc. is under strict oversight, including compliance with U.S. Securities and Exchange Commission related-party disclosure requirements. It said the Korean unit has continued to meet the conditions that allow a corporation to be designated as the controlling person, and argued that tougher regulation amounts to double regulation. The company also said Kim’s younger brother is not an “executive” as defined under South Korea’s fair trade law — such as a CEO, director, auditor or manager — and holds no stake in the Korean affiliates. “Coupang will faithfully explain its position through an administrative lawsuit,” it said. Coupang plans to file an objection with the FTC within seven days and, if it is not accepted, proceed with litigation. Earlier, as it pushed back against claims by civic groups that Kim should be designated as the controlling person, Coupang said the vice president named in those claims was seconded from Coupang Inc. and works on improving global logistics efficiency. It said he is not an executive under the fair trade law and holds only some Coupang Inc. listed shares, like employees at a similar level. Under the controlling-person designation rules, the principle is to treat the natural person who effectively controls a business group as the controlling person. However, a corporation may be designated if “exception conditions” are met. Those conditions include: the scope of the business group is the same whether the controlling person is treated as an individual or a corporation; the individual who effectively controls the group does not invest in domestic affiliates other than the top company; the individual’s relatives do not invest in domestic affiliates or participate in management by serving as executives; and there are no debt guarantees or loans between the individual and relatives and the domestic affiliates. The designation is also expected to have broader repercussions. In U.S. politics, where lawmakers are sensitive to perceived discrimination against American companies, Republican members of the U.S. House of Representatives have already increased pressure, including sending a letter of protest. The issue has also raised debate over whether it could violate the Korea-U.S. free trade agreement’s most-favored-nation obligation by treating the United States less favorably than third countries, and even the possibility of an investor-state dispute (ISD) has been mentioned.* This article has been translated by AI. 2026-04-29 15:29:00
  • Amorepacific Group Q1 Operating Profit Rises 6.9% on Derma Beauty, Overseas Growth
    Amorepacific Group Q1 Operating Profit Rises 6.9% on Derma Beauty, Overseas Growth Amorepacific Group said it posted solid first-quarter results, helped by momentum in its derma beauty brands and a broader mix of global channels including North America and Japan. The company said consolidated first-quarter revenue rose 5.0% from a year earlier to 1.2227 trillion won, while operating profit increased 6.9% to 137.8 billion won. Flagship affiliate Amorepacific also reported gains, with revenue up 6.4% and operating profit up 7.6%, supporting the group’s overall improvement. In South Korea, revenue climbed 9% to 626.4 billion won and operating profit surged 65% to 81.5 billion won, the company said, citing a sharp improvement in profitability. Sulwhasoo posted higher sales across both online and offline channels on the back of Lunar New Year gift demand. Hera logged double-digit growth in multibrand stores and online channels, led by its cushion and lip categories. Aestura recorded its highest-ever sales at Olive Young, reinforcing its position as the top derma brand in the domestic market. Mise-en-scene entered cross-border channels through TikTok Shop, opening a new sales route. Overseas revenue rose 6% to 497.1 billion won. The company said it achieved double-digit sales growth in Western markets, Japan and the Asia-Pacific region, but operating profit fell 18% to 56.7 billion won due to aggressive marketing investment to expand newer brands globally. In Greater China, where efficiency measures are underway, revenue declined as offline channels were scaled back, though the company said it maintained a focus on protecting profitability. The group highlighted Aestura, Cosrx and Laneige as key performers abroad. In North America, Cosrx returned to sales growth on expanded sales of its RX line and PDRN line and strong Amazon promotions. Aestura posted triple-digit growth led by its A-Cica line, and IOPE entered Sephora in North America as it stepped up efforts in premium, high-performance skin care. Aestura also expanded into 17 European countries, while Cosrx posted strong growth in major U.K. channels. Premium brand Laneige strengthened its presence in Japan and other major Asian markets with new products including the Neo Cushion and the Juice Pop Box lip tint. Osulloc said it improved sales and profitability by reinforcing its position as a luxury tea brand and expanding product offerings that reflect current dessert trends. By contrast, other beauty subsidiaries — including Innisfree, Etude, Espoir and Amos Professional — saw results slip somewhat amid offline channel restructuring, the company said. An Amorepacific Group official said the company will focus companywide capabilities on delivering its mid- to long-term vision, “Create New Beauty.” To execute that vision, the group said it will accelerate five core strategic initiatives: 집중 육성 of key global markets, strengthening integrated beauty solutions, developing anti-aging offerings based on biotechnology, agile organizational innovation, and an AI-based shift in work processes. * This article has been translated by AI. 2026-04-29 10:55:51
  • CJ OnStyle Speeds Up Content Commerce With Devil Wears Prada 2 Campaign, KBO Goods
    CJ OnStyle Speeds Up Content Commerce With 'Devil Wears Prada 2' Campaign, KBO Goods CJ OnStyle is strengthening its content-commerce business by turning fandom-based intellectual property tied to film and sports into shopping experiences. Industry officials said CJ OnStyle has partnered with The Walt Disney Company Korea to run a large branding campaign inspired by the film ‘The Devil Wears Prada 2,’ which is set to open on the 29th. The campaign runs through May 14. CJ OnStyle said it is the only commerce platform in South Korea running the campaign. The slogan is “This summer, OnStyle wears the devil.” The company is combining film content with its retail platform, targeting overlap between its core customers — women in their 30s and 40s — and the movie’s fan base. The main concept is “Runway to Realway,” aiming to bring the film’s fashion into everyday wear. CJ OnStyle curated about 2,500 style items, from office looks to resort wear, reflecting the storylines of the two main characters. To extend the film theme across the shopping experience, CJ OnStyle redesigned its mobile app interface, circular launcher logo and live-streaming studio around the movie concept. CJ OnStyle is also expanding its approach to Korea Baseball Organization, or KBO, goods, saying baseball fans’ spending has moved beyond stadium cheering to everyday self-expression. Instead of simply printing team logos, it planned merchandise focused on fashion accessories that can be used naturally for commuting, outings and travel. Based on CJ OnStyle’s analysis of KBO goods sales data from April 9 to 25, fashion accessories such as bandana scarves, lightweight folding umbrellas and stadium-bag key rings ranked among top sellers. Cumulative sales reached 35,000 items in about 10 days after launch, and fashion accounted for 52.8% of total sales. A CJ OnStyle official said the company will continue to strengthen content-commerce competitiveness through differentiated IP that gives customers more reasons to visit and more to enjoy on the platform.* This article has been translated by AI. 2026-04-28 18:11:36
  • Korean Retailers Roll Out Payment Perks, Pop-Ups to Lure Foreign Shoppers for May Holidays
    Korean Retailers Roll Out Payment Perks, Pop-Ups to Lure Foreign Shoppers for May Holidays Korea’s retail industry is mounting an all-out push to attract foreign tourists and spur domestic spending as holiday periods in South Korea, China and Japan overlap into a major early-May shopping peak. With more travelers visiting independently, retailers are emphasizing easier payments and pairing promotions with K-content experiences. According to the industry on April 28, Lotte Department Store will run a “Shopping Week” promotion for foreign customers timed to Japan’s Golden Week (April 29-May 6) and Labor Day holidays in China and Taiwan (May 1-5). Through May 10, foreign customers who spend at least 1,200 yuan via WeChat Pay will receive an immediately usable 50-yuan discount coupon. Customers who pay 200,000 won or more with Line Pay Taiwan at all branches will earn 10% back in Line points. From May 1-6, shoppers paying with UnionPay at the company’s main store and Jamsil store will get an immediate 10% discount and an additional 10% of their tax refund amount. Lotte is also leaning on theme marketing tied to global character intellectual property. From May 1-17, it will hold “Star Wars Day 2026” around the Jamsil Lotte World Tower area, including a large parade. Through May 6, Lotte World Mall will host Bandai Namco’s “Fancy Festa,” described as Japan’s “Disney.” Shinsegae Department Store will run its largest-ever “Global Shopping Festa” through May 10 at its main store, Gangnam, Times Square and Centum City locations, with more than 100 brands participating. It will offer 10% gift certificates by purchase tier and, in cooperation with UnionPay and WeChat Pay, up to 10% instant discounts and cash-back benefits. Working with Global Tax Free (GTF), it will also provide an additional 10% of the refund amount to accelerate visits from greater China. Shinsegae is also expanding its airport outreach. It is taking part in the “Korea Welcome Week” event at Incheon International Airport, distributing vouchers that include discount coupons of up to 10%. At its Busan Centum City store, customers who spend 300,000 won or more will receive a “K-snack package” featuring seven popular ramen varieties. At its Gangnam and main stores, it will roll out a series of K-fashion pop-ups aimed at trend-conscious foreign shoppers. Hyundai Department Store is strengthening digital convenience and fandom marketing. In February, it partnered with UnionPay to introduce a China-only Apple Pay payment service at department stores and outlets nationwide, offering discounts of up to 12% for mobile payments without a physical card. For Japanese customers, it will give mask packs to those who pay with JCB cards at five key stores, including its Apgujeong flagship. The Hyundai Seoul is running an NCT WISH pop-up store through May 3 to capture demand for merchandise. Later in May, it plans to open a foreigner-only space called “Live Seoul” offering K-beauty experiences. Lotte Mart is putting “K-food” front and center. Working with the Japanese platform Konest, it is issuing advance discount coupons, and at key stores such as Zettaplex Seoul Station it will give luggage tags or travel shopping bags to customers who spend 70,000 won or more. It has secured supplies of its exclusive snack “Cheongwoo Chewy Choco Chip Strawberry,” which previously sold out, and is expanding buy-one-get-one promotions on steady sellers such as ramen and mask packs to meet foreign demand. Shinsegae Duty Free has also strengthened tie-in benefits such as mileage accrual by partnering with global airline and hotel chains. “Because holiday periods in Korea, China and Japan overlap, the retail industry has effectively entered a battle to win foreign customers,” an industry official said. “The payment perks and the level of content differentiation each company prepared will determine sales.” * This article has been translated by AI. 2026-04-28 17:53:41