Journalist

Hong Seung-wan
  • Sunday Forecast: Mostly Sunny Nationwide; Showers for Jeju and Parts of the South
    Sunday Forecast: Mostly Sunny Nationwide; Showers for Jeju and Parts of the South Sunday the 26th is expected to be mostly sunny nationwide. The Korea Meteorological Administration said Jeollanam-do, the Gyeongsang region and Jeju Island will see more clouds at times. Jeju is forecast to get 5 to 10 millimeters (0.2 to 0.4 inches) of rain from dawn through daytime hours. Showers are also expected from afternoon into evening in southern Jeollanam-do; inland areas of Busan, Ulsan and South Gyeongsang; and the southern East Sea coast of North Gyeongsang. Forecast rainfall is 5 to 10 millimeters in southern Jeollanam-do and inland areas of Busan, Ulsan and South Gyeongsang, and around 5 millimeters along the southern East Sea coast of North Gyeongsang. Morning lows will range from 6 to 15 C (43 to 59 F), similar to or slightly higher than usual. Daytime highs will be 20 to 26 C (68 to 79 F). With day-to-night temperature swings near 20 C (36 F), the agency urged caution for health. Dry weather advisories are in effect for central regions, North Gyeongsang and parts of North Jeolla, and could expand to other areas. Authorities urged caution to prevent wildfires. Fine dust levels are expected to range from good to moderate nationwide due to favorable atmospheric dispersion. Waves are forecast at 0.5 to 1.0 meters (1.6 to 3.3 feet) in nearshore waters of the East and South seas and 0.5 meters (1.6 feet) in the West Sea. In offshore waters about 200 kilometers (124 miles) from the coast, wave heights are expected at 0.5 to 1.5 meters (1.6 to 4.9 feet) in the East and South seas and 0.5 to 1.0 meters (1.6 to 3.3 feet) in the West Sea. * This article has been translated by AI. 2026-04-25 09:36:17
  • Iran’s Revolutionary Guard Seizes Ship It Says Visited U.S. Ports, Citing Maritime Violations
    Iran’s Revolutionary Guard Seizes Ship It Says Visited U.S. Ports, Citing Maritime Violations Iran’s Islamic Revolutionary Guard Corps Navy has seized a vessel it said was suspected of cooperating with the U.S. military. According to Yonhap News Agency, Iran’s Tasnim news agency reported that the Guard on Thursday (local time) seized the EPAMINODES, citing violations of maritime regulations. The Guard’s navy said it had monitored the ship for the past six months and confirmed it had visited U.S. ports several times. It said the vessel was seized after it ignored repeated warnings and continued to violate maritime rules. The seizure comes as tensions rise amid Iran’s threat to block the Strait of Hormuz and what the report described as a U.S. maritime blockade of Iran. The Revolutionary Guard seized three vessels on April 22, saying they tried to transit the Strait of Hormuz without authorization from Iran’s military. The United States previously seized two ships in the Indo-Pacific that were part of what the report called Iran’s “dark fleet” — vessels such as tankers involved in illegal shipments of crude oil and other cargo to evade international sanctions — after they departed Iranian ports and before the maritime blockade began. * This article has been translated by AI. 2026-04-25 09:04:20
  • South Korea Forecast: Clear Skies Nationwide, Highs Up to 27C
    South Korea Forecast: Clear Skies Nationwide, Highs Up to 27C Saturday will be sunny nationwide, with daytime highs rising to as much as 27 degrees Celsius. The Korea Meteorological Administration said daytime temperatures will range from 20 to 27C, higher than usual. In inland areas, the day-to-night temperature gap will be around 20 degrees, and people should take care with their health. Dry weather advisories are in effect for the central region, North Gyeongsang Province and parts of North Jeolla Province, and the advisories could expand to other areas. Authorities urged caution to prevent fires. Fine dust levels are expected to be "good" to "moderate" nationwide due to smooth atmospheric circulation. Waves are forecast at 0.5 to 1.5 meters in the East and South seas and about 0.5 meters in the West Sea. In offshore waters (within about 200 kilometers of the coastline), wave heights are expected at 0.5 to 2.0 meters in the East and South seas and 0.5 to 1.0 meters in the West Sea.* This article has been translated by AI. 2026-04-25 08:33:17
  • Hotel Shilla Returns to Profit in Q1 With 20.4 Billion Won Operating Gain
    Hotel Shilla Returns to Profit in Q1 With 20.4 Billion Won Operating Gain Hotel Shilla said Thursday it swung to an operating profit in the first quarter (January-March), as it focused on profitability despite a weak duty-free market and pressure from a strong exchange rate. The company reported first-quarter revenue of 1.0535 trillion won, up 8.4% from a year earlier. Operating profit totaled 20.4 billion won, reversing a year-earlier loss. Hotel Shilla said the results reflected efforts to secure a stable earnings base in a difficult business environment. In its travel retail, or TR, business, the company said the industry remained under strain from the strong exchange rate and a weakening global economy, but it concentrated on strengthening fundamentals with a profitability-first approach. Its hotel and leisure business maintained steady performance despite the seasonal off-peak period, helped by the opening of new hotels and an increase in foreign tourists. A company official said Hotel Shilla will continue its focus on improving fundamentals as operations stabilize. “The TR division will secure stable profitability through ongoing improvements to its business structure and respond proactively to changes in the external environment and the duty-free market,” the official said. “The hotel and leisure division will strengthen brand competitiveness based on its three-brand system to build a foundation for continued growth,” the official added.* This article has been translated by AI. 2026-04-24 17:01:10
  • Coupang Denies Reports It Lobbied U.S. to Pressure South Korea
    Coupang Denies Reports It Lobbied U.S. to Pressure South Korea Coupang on Thursday denied recent reports that it was pressuring the South Korean government through lobbying of the U.S. administration and Congress, calling the claims untrue. In a reference note, the company said assertions that there were discussions related to security were "clearly false." It said its lobbying has covered economic cooperation between the two countries, including expanding investment and trade involving South Korea, Taiwan and Japan, and broadening professional visa opportunities for South Koreans, and that it did not include any security-related issues. Coupang added that it is focused on communication with the United States and other countries to promote AI innovation, investment and job creation, and to expand cross-border commerce. Separately, a filing under the U.S. Lobbying Disclosure Act showed Coupang Inc. spent $1.09 million on lobbying in the first quarter (January to March) this year. Coupang said companies in the United States and major South Korean firms conduct legal lobbying, adding that major U.S. companies spend three to four times more than Coupang and that its spending is also lower than that of major South Korean conglomerates. * This article has been translated by AI. 2026-04-24 15:22:46
  • Lotte, Shinsegae expand Vietnam export channels for South Korean small businesses
    Lotte, Shinsegae expand Vietnam export channels for South Korean small businesses With President Lee Jae-myung on a state visit to Vietnam, Lotte and Shinsegae moved to help South Korean small and midsize companies enter the Vietnamese market, widening overseas sales channels for K-brands. According to the industry on April 24, the Korea Trade-Investment Promotion Agency, known as KOTRA, held a Korea-Vietnam Business Partnership event the previous day at the National Convention Center in Hanoi. The event, arranged to coincide with Lee’s visit, featured consultations between South Korean companies and Vietnamese buyers, along with product showcases. Lotte Home Shopping hosted a showcase and export consultations aimed at helping South Korean small businesses expand into Vietnam. Using its home-shopping model, the company produced a mobile live broadcast from the showcase studio in collaboration with a local influencer. The broadcast featured products from small businesses including Gravity, a functional anti-hair-loss shampoo brand, and Romams, a premium diaper brand. Lotte Home Shopping streamed the program on Southeast Asian e-commerce platform Shopee and TikTok Live, while also selling products in real time. Viewership reached 52,000. Lotte Home Shopping said on-site meetings with distribution buyers led to talks on placement in local retail channels and export and exclusive distribution agreements. Chief Executive Kim Jae-gyeom said the company achieved “meaningful results” through the showcase and export consultations in Vietnam and pledged continued support for small businesses’ overseas expansion to strengthen the global competitiveness of K-brands. Shinsegae Department Store focused on supporting exports of K-beauty brands to Vietnam. It opened a “Shinsegae Hyper Ground” showcase at the venue, introducing South Korean beauty brands to local businesspeople and buyers. Eight K-beauty companies, including Kundal and Ire Recipe, took part. Shinsegae said it selected brands it viewed as competitive in Vietnam, considering local climate, consumer preferences and product functions. Participants also discussed market-entry strategies and the possibility of jointly planning products. Shinsegae Group’s online fashion platform W Concept also joined, presenting six brands including Botero and Tonywack to promote K-fashion. Industry Minister Kim Jeong-gwan and KOTRA President Kang Kyung-sung visited the venue and toured the showcase with Shinsegae Department Store CEO Park Joo-hyung. Park said Shinsegae this year will continue supporting competitive small businesses, alongside government assistance, so K-brands can expand into global markets including the United States, Taiwan and Japan. The Korea-Vietnam Business Forum held in connection with Lee’s state visit drew about 500 people from public institutions and the business community, including 109 companies in the South Korean economic delegation. Attendees included Samsung Electronics Chairman Lee Jae-yong; SK Group Chairman Chey Tae-won, who also heads the Korea Chamber of Commerce and Industry; LG Group Chairman Koo Kwang-mo; Lotte Group Chairman Shin Dong-bin; POSCO Holdings Chairman Jang In-hwa; HD Hyundai Vice Chairman Chung Ki-sun; GS Chairman Huh Tae-soo; and Hyosung Chairman Cho Hyun-joon. * This article has been translated by AI. 2026-04-24 11:12:40
  • Musinsa Opens Seongsu Mega Store With First Permanent Beauty Shop, Taking On Olive Young
    Musinsa Opens Seongsu Mega Store With First Permanent Beauty Shop, Taking On Olive Young In Seoul’s Seongsu-dong neighborhood, where CJ Olive Young stores are clustered, fashion platform Musinsa has opened a supersized complex anchored by its first permanent offline beauty shop. The new Musinsa Mega Store Seongsu is a seven-minute walk from Olive Young N Seongsu, billed as the chain’s largest store nationwide. Musinsa is bundling beauty, food and hands-on experiences as it seeks a bigger presence in the offline beauty market. The store, shown during a media tour on April 23, a day before its opening, spans five levels from basement 1 to the fourth floor. Each floor is organized by concept — including Musinsa Girls, Musinsa Young and Musinsa Work & Formal — with separate zones for the shoe specialty area Musinsa KICKS and the bags-and-hats section Musinsa Bag & Cap Club. The layout is designed so shoppers can outfit themselves head to toe within the store. The basement includes a coin karaoke area branded “Musingsa,” built as a large glass capsule that can fit four adults at once. A camera inside allows visitors to record themselves singing. Musinsa applied for the “Musingsa” trademark in July last year and has now brought it into a physical space. The unusual addition reflects Seongsu-dong’s experience-driven retail scene. The most prominent addition is the second-floor beauty zone, a 483-square-meter (about 146-pyeong) space that serves as Musinsa’s first permanent offline beauty store. About 700 beauty brands are carried. Shelves are packed with skin care and hair products, and a dedicated mask-pack display fills an entire section. The merchandising appears to reflect rising foreign tourism in Seongsu-dong and demand for Korean mask packs among visitors. With three Olive Young stores nearby, Musinsa is also emphasizing differentiation. A section called the “Only Musinsa Beauty Zone” groups products sold exclusively through Musinsa Beauty. A Musinsa official said shoppers can find brands recently added to Musinsa Beauty, including the Chinese color cosmetics brand Flower Knows. The area is also designed in red, contrasting with Olive Young’s signature green. The top floor is a new food-and-beverage area called “Food Garden.” Past the entrance, visitors pass Norway’s coffee brand Fuglen, then find a lineup that includes a garaetteok tteokbokki specialty shop, pizza and dessert brands. The setup resembles food halls in large malls or department stores, aimed at keeping shoppers on site longer after they finish shopping. Musinsa’s mega store opening is expected to accelerate its beauty expansion and intensify competition with Olive Young in the Seongsu area. Musinsa created a beauty purchasing organization in the first quarter of this year and hired specialized staff. A Musinsa official said the company plans to continue hiring in the second quarter and expand the beauty team, adding that it aims to “cement its position as an unprecedented fashion-and-beauty hub in Seongsu.” * This article has been translated by AI. 2026-04-24 06:06:31
  • Lotte Speeds Turnaround as Jamsil Hub Tops 5 Trillion Won and Southeast Asia Grows
    Lotte Speeds Turnaround as Jamsil Hub Tops 5 Trillion Won and Southeast Asia Grows Lotte Group’s food, retail and hotel affiliates are leading a recovery in results, the company said. In South Korea, “Lotte Town Jamsil” posted a record by topping 5 trillion won in annual sales for the first time. Overseas, growth has continued mainly in food and retail operations in India, Vietnam and Indonesia. The chemicals business, which has faced a prolonged slump, is accelerating restructuring to protect profitability. Lotte said Thursday that its retail affiliates are continuing to expand in Southeast Asia. A key example is Lotte Mall West Lake Hanoi, which opened in 2023. Since opening, it has maintained double-digit sales growth and has surpassed 600 billion won in cumulative sales. Lotte Mart is also stepping up its push in Southeast Asia. It operates 63 stores in the region, including 15 in Vietnam and 48 in Indonesia. The company said it has stabilized its hypermarket business locally and is continuing to grow by focusing on groceries and daily necessities. Food affiliates are adding momentum. Lotte Wellfood has stood out in India, with the effect of launching the merged Lotte India entity reflected in results. Sales last year rose 10% from a year earlier, and the company expects growth to continue this year. Lotte Chilsung Beverage is also strengthening its push in key overseas markets to support an improving earnings trend. At home, growth at Lotte Town Jamsil has been notable. The complex, which includes Lotte Department Store, Lotte Hotel and Lotte World, exceeded 5 trillion won in annual sales last year for the first time. Lotte said seasonal large-scale events and differentiated content helped draw more than 60 million visitors over the year. A central driver has been Lotte Department Store’s Jamsil branch. The store posted more than 3 trillion won in sales last year, matching 2024 and marking a second straight year above 3 trillion won. From 2021 through last year, its average annual growth rate was about 15%. The hotel and duty-free businesses have also shown signs of recovery. Lotte Hotel said sales and operating profit improved across all regions last year, helped by a rebound in global travel demand and an increase in foreign tourists. Lotte Duty Free recorded profits for four consecutive quarters last year and returned to profitability on a full-year basis. It recently reopened its store in the DF1 zone at Incheon International Airport and expects an annual sales boost of more than 600 billion won. The chemicals business is moving faster on restructuring to improve its fundamentals. Lotte Chemical is participating in petrochemical restructuring, including integrating naphtha cracking centers at Daesan and Yeosu. It is also pursuing a spinoff of business divisions at its Daesan plant and a merger with HD Hyundai Chemical. A company official said, “We will also work to improve profitability by shifting the business toward high value-added areas.” * This article has been translated by AI. 2026-04-23 14:23:56
  • Harim skips preliminary bid, emerges as preferred bidder for Homeplus Express
    Harim skips preliminary bid, emerges as preferred bidder for Homeplus Express Harim Group has jumped into the final bidding for Homeplus Express after skipping the preliminary round and has been named the preferred bidder, industry officials said. The move is widely seen as part of a broader shift in Harim’s distribution strategy. According to the industry on the 22nd, Homeplus, which is undergoing corporate rehabilitation proceedings, selected NS Home Shopping, an affiliate of Harim Group, as the preferred negotiating partner for the sale of its corporate supermarket (SSM) unit, Homeplus Express. A preferred bidder is the candidate that offers the most favorable terms in a competitive process and is granted an exclusive period to negotiate. Homeplus has said it aims to move quickly toward a final contract, though due diligence and further reviews remain. Harim did not submit a letter of intent in last month’s preliminary bidding, appearing to step back. It entered late in the final round, however, after weighing price and business viability and concluding it had a strong chance, the officials said. If Harim completes the acquisition, it would secure a nationwide network of about 300 stores, potentially strengthening links with its existing food businesses, including meat processing, home meal replacements and fresh foods. NS Home Shopping previously operated an SSM chain, NS Mart, before selling it to E-Mart in 2012; the deal would mark its return to the SSM business after 14 years. The potential purchase also aligns with Harim Chairman Kim Hong-kuk’s emphasis on “fresh” food. At the NS Food Festa in Iksan, North Jeolla Province, in September last year, Kim said, “For consumers in the Seoul metropolitan area to experience the freshest food, we need logistics centers within the city.” Of Express’ 293 stores, 223 have quick-commerce capabilities, and 76% of all locations are seen as able to serve as urban logistics hubs, the officials said. Harim could use the network to support its fresh-food supply chain and instant-delivery infrastructure. Some in the market also expect logistics efficiency gains if the stores are linked with Harim Group’s Yangjae urban advanced logistics center being built in Seoul’s Seocho district. The market has estimated the sale price at around the 200 billion won range. Given Harim Holdings’ operating cash flow of about 1.1411 trillion won last year, the funding burden is expected to be relatively limited, the officials said. NS Home Shopping has taken a cautious stance, noting talks are still underway. “Our participation is a strategic decision to strengthen competitiveness across online and offline channels,” a company official said. “We also expect to create mutual synergies by offering existing Express tenants new growth opportunities through our online and mobile channels.” The official added, “If the acquisition is completed, we will combine the strengths of both sides to build integrated omnichannel competitiveness.” 2026-04-22 15:40:11
  • NS Home Shopping Named Preferred Bidder for Homeplus Express Acquisition
    NS Home Shopping Named Preferred Bidder for Homeplus Express Acquisition NS Home Shopping, an affiliate of Harim Group, has been named the preferred bidder in the final round to acquire Homeplus Express, the corporate supermarket business of Homeplus, which is undergoing corporate rehabilitation proceedings. Homeplus said April 21 that it designated NS Home Shopping as the preferred bidder after the public tender for Homeplus Express closed that day. It said it plans to quickly wrap up negotiations on details and sign a final contract. NS Home Shopping said it participated in the final bidding and is awaiting the result. A preferred bidder is the company that offers the most favorable terms among multiple candidates in a competitive process and receives priority negotiating rights for a set period. Selection does not guarantee the deal will be completed. A preliminary bid held March 31 was reported to have drawn interest from MGC Global, the operator of Mega MGC Coffee, among others, though it has not been confirmed whether those firms joined the final round. Multiple bidders participated in the final bidding, establishing effective competition, according to reports. Harim Group is a major conglomerate ranked around the top 30 in South Korea, with total assets nearing 17 trillion won. Homeplus is expected to move faster to secure liquidity through the sale of its Express unit. * This article has been translated by AI. 2026-04-21 19:39:17