AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

Hong Seungwan
  • Homeplus: Meritz Requires Immediate Repayment of Express Sale Proceeds
    Homeplus: Meritz Requires Immediate Repayment of Express Sale Proceeds Homeplus, which is undergoing corporate rehabilitation, announced on May 18 that Meritz Financial Group has demanded immediate repayment of the proceeds from the sale of Homeplus Express as a condition for providing a short-term operating loan (bridge loan).According to Homeplus, Meritz is considering a short-term operating loan of approximately 100 billion won ($75 million) for a duration of 2 to 3 months, with interest rates similar to those of existing emergency operating loans (DIP loans). The conditions also include personal guarantees from major shareholders MBK Partners and the management team.In response, Homeplus has proposed using a second-ranking income right on real estate as collateral instead of personal guarantees. Homeplus stated, "The contract for the sale of Express has already been signed, and considering that the transaction will be completed by the end of next month, we have already provided personal guarantees for other operating funds." However, it appears that Homeplus is reviewing Meritz's loan conditions due to pressing issues such as unpaid wages and outstanding product payments.Currently, Meritz holds collateral on 68 Homeplus stores. Proceeds from major real estate sales completed or in progress after the rehabilitation process are also being prioritized for repayment of Meritz's claims.Meanwhile, as Homeplus continues to face financial difficulties, the labor union has also requested normalization of deliveries. The Homeplus General Labor Union recently decided to forgo wages and defer salary payments, sending a formal request to suppliers for the regular supply of goods. In the letter, the union stated, "Only with a smooth supply of goods to the stores can they be normalized, and only when the stores recover can the valuable delivery payments be fully repaid."* This article has been translated by AI. 2026-05-18 16:09:00
  • CJ Logistics CEO Shin Young-soo: Building a Competitive Edge Through Small Successes
    CJ Logistics CEO Shin Young-soo: Building a Competitive Edge Through Small Successes CJ Logistics CEO Shin Young-soo presented the accumulation of "small successes" and organizational culture innovation as key strategies for future growth during a town hall meeting with employees.On May 18, CJ Logistics reported that CEO Shin stated at the meeting on May 14, "The massive innovations that will change the future of the logistics industry begin with small successes." He emphasized that these small successes are crucial for creating new growth opportunities and enhancing future competitiveness.Shin explained, "Reducing delivery delays even slightly, improving the quality of customer service responses, and minimizing safety incidents in the workplace are all small successes. When these small successes are repeated, they build individual confidence, foster team culture, and ultimately lead to transformative changes in the company's structure."He also highlighted the importance of empathy and communication within the organization. Shin noted, "Change begins with the collective understanding of the company's vision and business strategy among all members. I will expand the operation of town hall meetings and broaden communication channels to strengthen organizational empathy."Securing a competitive edge through advanced technology was also identified as a major goal. He stressed, "By combining the big data and AI technologies accumulated by CJ Logistics, we will secure future growth engines early and take the lead in the paradigm shift within the logistics industry." Last year, CJ Logistics completed field trials of AI-based humanoid logistics robots and plans to deploy these robots in major fulfillment centers this year to enhance operational efficiency and productivity.Shin stated, "We will continuously accumulate small but certain success experiences, creating a virtuous cycle where our performance-generating DNA leads to new growth engines and innovations. Based on organizational empathy, we will establish a growth system that organically connects business strategies and advanced technologies, propelling us to become a leading competitive enterprise in the domestic and international logistics markets."Meanwhile, CJ Logistics reported a 7.9% increase in consolidated operating profit for the first quarter of this year, reaching 92.1 billion won, driven by an increase in parcel volume and improved profitability in global operations. The company plans to continue its growth trajectory through global business expansion, optimizing its cold chain operations in the U.S. and expanding into adjacent industries such as consumer goods and beauty, while also enhancing local operations and contract logistics in India and Vietnam.* This article has been translated by AI. 2026-05-18 15:52:35
  • CJ Olive Young Set to Open First U.S. Store in Pasadena
    CJ Olive Young Set to Open First U.S. Store in Pasadena CJ Olive Young is on the verge of opening its first U.S. store, with CJ Group Chairman Lee Jae-hyun expected to visit the location. This move underscores the company's emergence as a key subsidiary within the group and highlights Lee's commitment to penetrating the U.S. market. According to industry sources, Lee plans to attend the PGA Tour's "The CJ Cup at Byron Nelson" in Texas on May 21, before visiting the Pasadena store, which is set to open on May 29. The flight from Dallas, where the tournament is held, to the Los Angeles area takes about three hours. This visit coincides with a major group event, allowing Lee to inspect Olive Young's first overseas store personally. The Pasadena store represents more than just a new location for CJ Olive Young. The company plans to open a total of four stores in key Los Angeles areas, including Westfield Century City and Torrance Del Amo Mall, starting with Pasadena. Given that the U.S. is the world's largest beauty market, the initial performance of this store will serve as a critical indicator for the company's expansion in North America. The Pasadena location is situated in a high-traffic area, close to an Apple store and educational institutions like the California Institute of Technology and Pasadena City College. It is also surrounded by global retail and beauty brands such as Abercrombie and Sephora, targeting both local consumers and tourists. Lee's hands-on approach with Olive Young is driven by impressive growth figures. According to CJ's business report, the company's standalone revenue reached 5.8335 trillion won last year, a 21.8% increase from the previous year. Operating profit rose by 22.5% to 744.7 billion won. With annual sales nearing 6 trillion won, Olive Young's contribution to the group's profits has significantly increased. In the first quarter of this year, standalone revenue also grew by 24.5% year-on-year to 1.5372 trillion won, indicating continued expansion. As a result, Lee has been actively managing Olive Young this year. In January, he visited the first wellness store, Olive Better, in Gwanghwamun, Seoul. In March, he inspected the Olive Young Central Myeongdong Town store, reviewing store layout and key products while making personal purchases. CJ Olive Young is also accelerating preparations to establish a foothold in the U.S. market. The company plans to launch a U.S.-exclusive e-commerce platform alongside the opening of its first store, moving away from a solely global mall-based sales model to a structure that integrates local stores and online sales. Additionally, the company has established a logistics base. In March, CJ Olive Young set up a "West Coast Center" in Bloomington, California, covering approximately 3,600 square meters (about 39,000 square feet) to support local distribution for brands entering U.S. stores. The company plans to gradually expand the center in line with increasing shipping volumes and is considering securing additional logistics hubs in the eastern region. A CJ Olive Young representative stated, "With the simultaneous opening of our first U.S. store and the U.S.-exclusive online mall, we can now offer local delivery through the West Coast Center. We aim to enhance shopping convenience for American consumers and contribute to the growth of the K-beauty industry." * This article has been translated by AI. 2026-05-18 07:49:08
  • Olive Young Reports 24.5% Revenue Increase in Q1 Driven by Foreign Customers
    Olive Young Reports 24.5% Revenue Increase in Q1 Driven by Foreign Customers CJ Olive Young achieved sales of 1.5372 trillion won in the first quarter of this year, marking a 24.5% increase compared to the same period last year. This growth was supported by an increase in foreign visitors, the expansion of specialized stores, and the launch of wellness-focused outlets.According to the Financial Supervisory Service's electronic disclosure system on May 15, the company's net profit for the quarter rose by 2.9% to 130 billion won.The surge in sales is attributed to the influx of foreign customers. At the 'Olive Young Myeongdong Town,' one of the company's top-performing stores, 95% of total sales came from foreign patrons. Additionally, the newly launched wellness-centered store, 'Olive Better,' reported that nearly 50% of its sales were generated from foreign customers.CJ Olive Young plans to invest 123.8 billion won this year to expand its presence outside the capital region, renovate existing stores, and enhance its logistics infrastructure. This strategy aims to strengthen both regional markets and logistics networks, moving away from a focus solely on the metropolitan area.A company representative stated, "We recorded solid growth through offline innovations centered on specialized stores, the launch of Olive Better, and investments in region-based retail and logistics. We will continue to invest domestically and internationally to secure future growth drivers."Meanwhile, CJ Olive Young is also intensifying its overseas operations. The company is set to open its first international store in Pasadena, California, at the end of this month, with plans for additional locations in key areas of Los Angeles, including Westfield Century City and Del Amo Fashion Center.Olive Better is also accelerating its expansion, with plans to increase the number of stores to ten by the end of the year, and there are discussions about opening hybrid stores that combine Olive Young and Olive Better offerings.* This article has been translated by AI. 2026-05-16 00:28:14
  • Orion Reports 26% Increase in Q1 Operating Profit Driven by Overseas Growth
    Orion Reports 26% Increase in Q1 Operating Profit Driven by Overseas Growth Orion has reported a double-digit improvement in performance for the first quarter of this year, driven by growth in its overseas subsidiaries.The company announced on May 15 that its consolidated operating profit for the first quarter reached 165.5 billion won, a 26% increase compared to the same period last year. Revenue rose 16% to 930.4 billion won.The growth was primarily attributed to overseas subsidiaries in China, Vietnam, and Russia. The Chinese subsidiary reported sales of 409.7 billion won, a 24.8% increase, benefiting from the peak season of the Lunar New Year and increased sales of key products such as potato snacks, pies, and jelly. Operating profit in China surged 42.7% to 79.9 billion won.In Vietnam, the subsidiary continued its growth trend, driven by seasonal demand during the Tet holiday and the impact of new products. First-quarter sales reached 151.3 billion won, with operating profit increasing by 25.2% to 26.6 billion won.The Russian subsidiary saw a 34.7% increase in sales to 90.5 billion won, with operating profit rising 66.2% to 14.2 billion won, thanks to expanded production capacity for products like Choco Pie and Fresh Pie and enhanced dedicated products for various distribution channels. The Indian subsidiary, now in its fifth year of local sales, recorded a 67% increase in revenue, reaching 9.8 billion won.Despite sluggish domestic demand, a decrease in sales partners, and rising prices of key raw materials, the Korean subsidiary achieved slight growth. First-quarter sales were 283.4 billion won, up 0.4%, while operating profit increased by 4.6% to 48.5 billion won.Orion plans to continue its growth trajectory in the second half of the year by expanding production facilities both domestically and internationally. The Korean subsidiary will enhance production lines for Poca Chips and nachos to meet summer snack demand. In China, the company aims to accelerate its efforts in key growth markets in the central and southern regions, including Guangzhou.In Vietnam, a newly established snack and candy production line at the Hanoi Yen Phong factory will begin full operations to increase product supply. In Russia, the company plans to double the production capacity of its rapidly growing Choco Pie line. India will also see additional production lines for Choco Pie and custard.An Orion official stated, "With investments in domestic and international production and logistics facilities, we expect to accelerate our growth in the second half as supply volumes increase."Additionally, due to the increase in overseas sales of confectionery, Orion's total assets reached 5.143 trillion won last year, marking its first inclusion in the Fair Trade Commission's designated large business group this year.* This article has been translated by AI. 2026-05-16 00:03:26
  • Cosmax Showcases PDRN and Sun Care Technologies at Shanghai Beauty Expo
    Cosmax Showcases PDRN and Sun Care Technologies at Shanghai Beauty Expo Cosmax, a cosmetic ODM (research, development, and manufacturing) company, announced on May 15 that it showcased local customized formulation technologies and inner beauty solutions at a B2B beauty expo in China.Cosmax revealed that its Chinese subsidiary, Cosmax China, completed its exhibition at the 30th China Shanghai Beauty Expo (CBE) held from December 12-14 at the Shanghai New International Expo Center. The CBE is an annual B2B beauty expo that attracts over 500,000 visitors from more than 120 countries.The exhibition featured three themed zones: Innovation, Global, and Value Plus, focusing on local consumer demand and showcasing global research and development (R&D) capabilities. The company noted that its locally customized sun care product line garnered significant interest from buyers. A company representative stated, "The sun care line, which improves whitening and clumping based on proprietary emulsification technology, was introduced as a product line that boosted Cosmax China's related sales by approximately 120% compared to the previous year."Cosmax also presented bio-technology-based skincare materials, including successfully commercialized bio-synthetic recombinant PDRN, enhanced absorption PDRN nanoparticle technology, and antioxidant enzyme (SOD) application technology derived from extremophile microorganisms.Additionally, the company showcased its R&D achievements, including the award-winning '1000 Trillion Moisturizer' formulation technology, which received the CosmoPack Award this year, and over 40 bestsellers and premium research outcomes, including studies on the mechanisms of gray hair development based on organoids.Cosmax's health supplement subsidiary, Cosmax Bio, also introduced inner beauty products. The company presented liquid health supplements utilizing collagen and sodium hyaluronate, as well as snack-form products featuring glutathione and vitamins, proposing solutions that encompass both cosmetics and inner beauty. A Cosmax representative stated, "We will provide differentiated integrated solutions to global clients by combining next-generation bio-formulation technology and inner beauty capabilities."Meanwhile, Cosmax reported that its consolidated revenue for the first quarter of this year reached 682 billion won, a 16% increase compared to the same period last year, marking the highest quarterly revenue to date. Operating profit for the same period rose by 3% to 53 billion won.* This article has been translated by AI. 2026-05-15 21:51:54
  • Jung Saem Mool Beauty Selected for K-Export Star 500 Amid Global Expansion Efforts
    Jung Saem Mool Beauty Selected for K-Export Star 500 Amid Global Expansion Efforts Jung Saem Mool Beauty announced on May 15 that it has been selected for the "2026 K-Export Star 500" program organized by the Ministry of Trade, Industry and Energy. According to Jung Saem Mool Beauty, the K-Export Star 500 meeting for representative companies was held on May 12 in Seongsu-dong, Seoul, with attendance from the Minister of Trade, Industry and Energy, the President of the Korea Trade-Investment Promotion Agency, and Vice President Yoo Jae-woong of Jung Saem Mool Beauty. They discussed global export strategies and shared on-site feedback from companies. The K-Export Star 500 initiative aims to identify domestic small and medium-sized enterprises with export potential and support their overseas expansion. The meeting included representatives from consumer goods, advanced technology, and key industries, with Jung Saem Mool Beauty recognized as a leading company in the cosmetics sector. With this selection, Jung Saem Mool Beauty plans to expand its exports, focusing on markets in the United States, China, Japan, Thailand, and Vietnam. This year, the company aims to accelerate its entry into the Chinese market through participation in the China Beauty Expo (CBE) and local influencer marketing. The company is also pursuing expansion in the North American market. From May 28 to June 2, Jung Saem Mool Beauty will open a pop-up store in Union Square, New York, providing local consumers with opportunities to experience the brand. A representative from Jung Saem Mool Beauty stated, "Being selected for the K-Export Star 500 is a recognition of our global growth potential and brand competitiveness. We will broaden our connections with overseas consumers and strengthen our brand influence in the global market." Meanwhile, according to the Korea Health Industry Development Institute, cosmetic exports reached $3.13 billion in the first quarter of this year, marking a 21.5% increase compared to the same period last year, the highest quarterly figure recorded. Exports of skincare products amounted to $2.43 billion, up 26.5%, while exports to the United States reached $470 million, a 49.1% increase.* This article has been translated by AI. 2026-05-15 21:46:09
  • Lotte Foundation Supports Movie Screening for 160 Individuals with Developmental Disabilities and Their Families
    Lotte Foundation Supports Movie Screening for 160 Individuals with Developmental Disabilities and Their Families The Lotte Foundation hosted a movie screening event for individuals with developmental disabilities and their families. On May 14, the Lotte Foundation announced that it held the "Shin Kyuk-ho Lotte Open Film Festival" at Lotte Cinema Cheongnyangni in Seoul. The event was attended by 160 individuals, including those with developmental disabilities, their families, and accompanying teachers, who watched two films. The Shin Kyuk-ho Lotte Open Film Festival was established this year to provide a comfortable environment for individuals with developmental disabilities and their families to enjoy movies. People with developmental disabilities can be sensitive to sudden lights and sounds, making it difficult for them to use regular movie theaters. To address this, the foundation arranged special screenings for individuals with developmental disabilities. Attendees were allowed to move freely and make noise during the screening, while sound levels were lowered and backlighting was kept on to reduce sensory overload. Jang Hye-seon, chairperson of the Lotte Foundation, stated, "Individuals with developmental disabilities and their families often worry about being restricted in their movements inside theaters and about causing inconvenience to other viewers due to unexpected behaviors. I hope that today, everyone can enjoy the movie comfortably and without concern for those around them." According to the Ministry of Health and Welfare, 71% of individuals with developmental disabilities require assistance in basic daily living activities. In response, the foundation has been supporting initiatives for individuals with disabilities, including a 100 million won program for daily living education launched in September of last year.* This article has been translated by AI. 2026-05-15 14:40:14
  • NS Home Shopping Celebrates 25th Anniversary, Aims for Food & Life Platform Growth
    NS Home Shopping Celebrates 25th Anniversary, Aims for Food & Life Platform Growth NS Home Shopping announced on May 15 that it held a vision declaration ceremony on May 8 at the Saemaul Undong Central Training Center in Seongnam, Gyeonggi Province, to celebrate its 25th anniversary. The event was attended by Kim Hong-guk, Chairman of Harim Group, along with representatives from major affiliates and NS Home Shopping employees. The company declared its new vision as the "No. 1 Food & Life Shopping Platform," aiming to provide substantial value to customers' lives across food and lifestyle sectors. The core values for realizing this vision include trust, challenge, communication, and customer focus. In his commemorative speech, Jo Hang-mok, CEO of NS Home Shopping, stated, "This vision declaration is not just an announcement of a slogan; it is a clear declaration of our direction and standards for how we should work and where we are headed." He emphasized that NS Home Shopping will grow into a Food & Life shopping platform that delivers real value to customers, adding, "When our choices centered around customers accumulate, the future of NS Home Shopping will be realized." Kim Hong-guk, in his encouraging remarks, noted, "NS Home Shopping's vision for 2050 is not merely a declaration to be number one in the market, but a commitment to provide the top value to customers." He stressed the importance of focusing on customer value as the essence of business, even in a changing market environment. He further stated, "In an era where data and AI redefine industrial competitiveness, retail competition is shifting from channel competition to experience competition. We must create a platform where customers can naturally connect their experiences across online and offline channels." Meanwhile, NS Shopping, the operator of NS Home Shopping, has acquired Homeplus Express, the supermarket division of Homeplus. This acquisition marks Harim Group's re-entry into the domestic offline retail market in the form of a corporate supermarket (SSM) after 14 years, following the sale of NS Mart to E-Mart in 2012.* This article has been translated by AI. 2026-05-15 10:42:48
  • Kim Jeong-soo Appointed Chairman of Samyang Foods Amid Global Expansion
    Kim Jeong-soo Appointed Chairman of Samyang Foods Amid Global Expansion Samyang Foods has appointed Kim Jeong-soo as chairman to accelerate its global business expansion. On May 15, the company announced that its board of directors approved Kim's promotion during a meeting held on May 12. He will officially take office on June 1. This marks a significant milestone for Kim, who was promoted from general manager to vice chairman in December 2021. The company stated that this decision aims to enhance accountability and respond to the growth of its global operations. Kim is credited with transforming Samyang Foods from a domestic-focused company into a thriving export business. Following the international success of Buldak Bokkeumyeon, which gained popularity through YouTube in 2016, the company expanded its market reach to over 80 countries within two years. As a result, the company’s financial performance has significantly improved. When Kim took office in 2021, the revenue was 642 billion won, which surged to 2.3517 trillion won last year. During the same period, the operating profit margin rose from 10% to 22%. With Kim's promotion, the transition to a global management system is expected to accelerate. Currently, overseas sales account for 80% of Samyang Foods' revenue. The company is rapidly expanding its international business by establishing sales subsidiaries and production facilities in key markets, including the United States, China, and Europe. This year, Samyang Foods plans to strengthen its business foundation to enhance regional and country-specific strategies. In addition to the ongoing construction of a factory in Jiaxing, China, the company is considering the establishment of additional regional offices. Meanwhile, Samyang Foods reported record-breaking results for the first quarter of this year. Consolidated revenue reached 714.4 billion won, and operating profit was 177.1 billion won, marking increases of 35% and 32%, respectively, compared to the same period last year. Overseas sales also grew by 38% to 585 billion won, driving overall performance.* This article has been translated by AI. 2026-05-15 10:39:27