Homeplus to permanently close 37 suspended stores, putting 3,500 jobs at risk SEOUL, June 04 (AJP) - Homeplus, South Korea's second-largest hypermarket chain, will permanently shut 37 stores it had temporarily closed last month, a move that threatens the jobs of about 3,500 workers, the company told its labour unions. According to industry sources on Thursday, the retailer sent a a notice to the Korea Mart Labor Union's Homeplus branch and a separate general union that it had decided to close the stores, which had been suspended since May 10 due to their low contribution to earnings. The 37 outlets are among 104 hypermarkets operated by Homeplus, which is undergoing court-led rehabilitation after years of mounting debt under private equity owner MBK Partners. Homeplus said it would apply an asset-securitisation support scheme to affected staff and offer voluntary redundancy to employees at managerial level and above, excluding those with less than six months until retirement. But the company cautioned that the payouts hinge on its survival. "The support scheme and voluntary redundancy can only be applied if creditors agree to emergency operating loans and an extension of the rehabilitation process," Homeplus said in the notice. According to the union, about 3,500 people work at the 37 stores, of whom about 1,500 managerial staff are eligible for voluntary redundancy. The unions have warned the closures could trigger a domino effect across the remaining 67 outlets. Homeplus filed in for court receivership in March last year, becoming the first of South Korea's big three hypermarket operators to enter rehabilitation. The crisis traces back to MBK's 2015 leveraged buyout, which saddled the chain with heavy lease and rental burdens that critics say hollowed out its finances. 2026-06-04 17:26:54

Voter turnout for local elections hits 61% SEOUL, June 04 (AJP) - Voter turnout in Wednesday's local elections reached 61 percent, the National Election Commission (NEC) said Thursday. It marked a sharp increase from 50.9 percent in the previous local elections in 2022 and was the highest turnout in any local elections since 1995, when it reached a record 68.4 percent. A total of 27.25 million voters cast ballots out of 44.65 million eligible voters including those who participated in two-day early voting last week and absentee voting. Early voting held last Friday and Saturday also saw a record turnout of 23.51 percent. Among the country's 17 major cities and provinces, South Jeolla Province recorded the highest turnout at 65.7 percent, followed by Gangwon Province at 64.5 percent, South Gyeongsang Province at 64.4 percent, and both Daegu and Ulsan at 64.2 percent. Contrary to South Jeolla Province's highest turnout, the traditional stronghold of the ruling Democratic Party (DP), the southwestern city of Gwangju in the same region recorded the lowest turnout at 54.3 percent, followed by Jeju at 56.4 percent, Incheon at 58.2 percent, and Gyeonggi Province at 58.4 percent. Seoul recorded a turnout of 63.6 percent, well above the national average. Election officials said the final count could take longer than usual to be finalized after ballot shortages caused voting delays in parts of southern Seoul including districts such as Gangnam, Gwangjin, and Songpa. 2026-06-04 17:25:00

Kim Yong-hyun's Constitutional Challenge to Insurrection Court Law Moves Forward Kim Yong-hyun's legal team has formally challenged the constitutionality of the "Special Act on Criminal Procedures for Insurrection, Foreign Exchange, and Rebellion" (Insurrection Court Law), which has now been accepted for review by the Constitutional Court. According to legal sources on June 4, the Constitutional Court has referred the case to its full bench of nine justices after a preliminary review on June 2. Typically, the court assesses whether a constitutional challenge meets legal requirements through a designated panel of three justices. If deemed valid, the case is then escalated to the full bench for further deliberation. The court has determined that Kim's challenge meets the necessary legal criteria without any grounds for dismissal. Previously, Kim's team had requested the Seoul High Court to rule on the constitutionality of the law, arguing it infringes on the right to a fair trial. However, the court dismissed the request, stating that the law designating a specific court for these cases falls within the legislative discretion. Following this rejection, Kim's team promptly filed a constitutional complaint with the Constitutional Court. In addition to Kim, former President Yoon Suk-yeol has also filed a similar constitutional challenge regarding the same law, which is already under review by the full bench. Legal experts suggest that the Constitutional Court may consider both cases together.* This article has been translated by AI. 2026-06-04 17:24:00

Elected Officials Begin Transition Preparations Following Local Elections Elected officials from the recent local elections have begun preparations for their terms. On June 4, they received their certificates of election, formalizing their status as elected officials, and some have started forming transition teams. According to the National Election Commission, local election offices began issuing certificates to elected officials on this day. Choo Mi-ae, who made history as the first female governor of Gyeonggi Province, paid her respects at the Hyeonchung Tower in Suwon during her first official schedule in the morning and received her certificate from the Gyeonggi election commission in the afternoon. Incheon Mayor-elect Park Chan-dae also attended the certificate presentation ceremony at the Incheon election commission. Choo Kyung-ho, the newly elected mayor of Daegu, and Kim Sang-wook, the newly elected mayor of Ulsan, both received their certificates from their respective local election offices, officially confirming their election. Min Hyung-bae, the first integrated mayor of Gwangju, paid respects at the May 18th National Cemetery in the morning and received his certificate from the Gwangju election commission in the afternoon. Incumbent leaders who challenged for re-election, including Lee Cheol-woo, the newly elected governor of North Gyeongsang Province, and Park Wan-soo, the newly elected governor of South Gyeongsang Province, also received their certificates and returned to their offices. Some elected officials have begun forming transition teams. Under Article 105 of the current Local Autonomy Act, governors can establish transition teams with up to 20 members. The teams can operate for 20 days after the start of the local government term, allowing them to function until July 20. Woo Sang-ho, the newly elected governor of Gangwon Province, appointed former Gangwon Vice Governor Choi Heung-jip as the head of his transition team, beginning the groundwork for his administration. Daejeon Mayor-elect Heo Tae-jung has designated Park Jeong-hyun, the head of his campaign, as the transition team leader. However, the certification for the Seoul mayoral election has been delayed due to uncounted ballots. Incumbent mayor Oh Se-hoon, the candidate from the People Power Party, staged a dramatic comeback on the morning of June 4, defeating Democratic Party candidate Jeong Won-o. After trailing by more than 10 percentage points early in the counting, Oh overtook Jeong around 7:16 a.m. and maintained his lead to secure victory. Nonetheless, the opening of two ballot boxes at the second polling station in Jamsil 7-dong, Songpa District, has been postponed, preventing the issuance of his certificate. As of 5:15 p.m. on the same day, the vote count for the Seoul mayoral election stood at 99.54%. The Seoul election commission stated, "We cannot confirm the election of the Seoul mayor as the ballots are still being counted." 2026-06-04 17:21:00

Cannes Highlights Hirokazu Kore-eda's New Film 'The Sheep in the Box' Exploring Family in the AI Era Korean filmmaker Hirokazu Kore-eda, celebrated at Cannes, questions the meaning of family through the coexistence of humans and humanoids in his latest film, 'The Sheep in the Box.' Known for exploring relationships beyond blood ties in works like 'Shoplifters' and 'Monster,' Kore-eda delves into themes of love, loss, and the complexities of living together in this new project.On June 4, a press screening and conference for 'The Sheep in the Box' took place at Megabox COEX in Gangnam, Seoul. Kore-eda and actress Rimu Kuwaki attended the event to discuss the film.'The Sheep in the Box' tells the story of a 7-year-old humanoid that enters a household to replace a deceased child, exploring the joy of becoming a family and the anxiety of potential abandonment. This film marks Kore-eda's tenth entry into the Cannes Film Festival, where it has been invited to compete in the official selection.Kore-eda cited the rise of generative artificial intelligence (AI) as a catalyst for the film's concept. He explained, "The idea for the film came about two years ago. I heard about a business in China that uses generative AI to resurrect deceased individuals. During a work trip to China, I met the founder of this business, who showed me how they create AI representations using photos and videos left on the deceased's phones. This inspired the film's narrative."Kore-eda expressed curiosity about how audiences would receive the film, stating, "This is not a story where everyone lives happily ever after. It shows the remaining children and the departing adults, who do not know how the humanoid children will live. They will have to imagine and feel what is invisible. I wanted to convey that imagination to the audience."He emphasized that the relationship between humans and humanoids should not be viewed merely as a conflict between technology and humanity. Instead, he connected it to the dynamics of marriage, noting, "I thought about how difficult and interesting it is for two different beings to coexist. Just as glass and wood can harmonize, I wanted to express the coexistence of humans, plants, and humanoids in various ways. In the film, the mother who lost her child regrets harsh words spoken to her child, while the father regrets things left unsaid. They start as a couple with different regrets but live together in the same box, imagining their lost child, Kakeru. I wanted to convey something through the relationships of these disparate beings."At the center of the film is Rimu Kuwaki, who was selected from a competitive pool of 200 candidates. Kore-eda shared that he made the casting decision based on his first impression, saying, "I had a gut feeling about this child."He added, "We held multiple auditions, and the final decision was made with the consensus of the entire staff. The pivotal moment was a scene in the bathhouse towards the end of the film, where she acted alongside Daigo, who plays Kensuke. That performance solidified my decision to cast her."Kuwaki recalled the moment she learned she got the role, saying, "My family jumped for joy together. My dad, mom, and sister cried a lot. At first, I thought, 'Why are they crying so much?' But later, after my mom explained, I was so happy that I almost cried too."Kuwaki also praised Kore-eda's directing style, stating, "He told me to act naturally, to be myself. Other directors often give specific instructions, but Kore-eda made it comfortable by saying to just be yourself. He joked that it was okay to do it casually, but I think it was more than that."Kore-eda explained that he aimed to draw out natural performances from the young actors rather than giving detailed directions. He said, "In fact, there was no directing or instruction regarding the actors' performances. We practiced while Daigo and Kuwaki were conversing and waiting. Ayase also joined in, and when the atmosphere was right, we started filming."He praised Kuwaki's quick thinking, noting, "She has a rare quality. After the first take, she had the ability to change the mood or dialogue in the second take, showing a playful sense and adaptability. She acted with great enjoyment, which made me feel she was not just a child actor."Kuwaki's improvisation impressed Kore-eda, who recalled a scene in the bathhouse where she says, 'Please keep it a secret.' He noted, "There’s a line where she asks, 'What should I do?' while teasing her dad, and that was not something I directed. I was surprised she delivered it that way."In closing, Kuwaki expressed her gratitude, saying, "Thank you for watching 'The Sheep in the Box.' I believe this film is about love. It’s a movie that makes you think and reflect multiple times. I hope you watch it thoughtfully."Kore-eda also encouraged viewers to imagine the unseen elements of the film, stating, "Movies are made from what is visible, but the unfilmed parts are also important. Just as architecture suggests that the essence lies in the unseen, I was conscious of that while making this film."He added, "While the film shows various visible elements like forests and instant noodles, I hope you also imagine what is not visible."Meanwhile, 'The Sheep in the Box' is set to be released in South Korea on June 10.* This article has been translated by AI. 2026-06-04 17:18:00

Hyundai Home Shopping Expands Offline Beauty Store 'Coasis' Hyundai Home Shopping is expanding its offline beauty business by opening new Coasis stores. This move comes as the TV home shopping market faces structural growth challenges, prompting the company to diversify its customer engagement strategies beyond broadcasting.According to industry sources, Hyundai Home Shopping will open its third Coasis location at Hyundai Outlet Garden Five in Songpa-gu, Seoul, on June 5, followed by a store in Dongdaemun on June 12. This expansion adds two new locations just two weeks after the opening of the second store at Hyundai Department Store in Gangdong-gu on May 29.Ahead of the opening of the third store, a white barrier was installed on the first floor of Hyundai Outlet Garden Five, featuring the slogan, "Making Your Beauty Journey Special," as final preparations were underway.Hyundai Home Shopping opened its first Coasis store in December 2025 at Hyundai Premium Outlet Space One in Namyangju, Gyeonggi Province. While Coasis operates similarly to beauty edit shops like CJ Olive Young, its target demographic differs. Olive Young primarily attracts customers in their teens and twenties, whereas Coasis focuses on women aged 30 to 60. As a result, the store prominently features functional skincare products addressing issues like pigmentation, wrinkles, and elasticity, with over 90% of its offerings being skincare items.The store layout is designed with middle-aged customers in mind. For instance, the height of display counters has been lowered to below 90 cm to facilitate easier browsing for customers in their 40s and 50s. Additionally, at the Cheonho store, testing products that were previously scattered throughout the store have been consolidated in one area to minimize customer movement, contrasting with the typical beauty shop layout where testing products are placed in front of each product row.The expansion of Coasis is closely linked to the slowdown in the TV home shopping market. According to the Korea TV Home Shopping Association, the total transaction amount for Hyundai Home Shopping and six other TV home shopping companies was 18.505 trillion won last year, a 5.1% decrease from the previous year. The average annual growth rate over the past five years has also been recorded at -4.2%. Additionally, due to declining TV viewership, broadcast revenue has dropped to 2.618 trillion won.In response, Hyundai Home Shopping is shifting away from a broadcasting-centric business model to diversify its channels both online and offline. Han Kwang-young, CEO of Hyundai Home Shopping, stated at a shareholders' meeting in March 2025, "We will seek to reach customers through various methods, not just broadcasting and online, by expanding our sales channels." He reiterated this commitment in March 2026, emphasizing the need to further expand offline customer engagement.With Han's vision to develop Coasis into a regional beauty landmark, Hyundai Home Shopping is expected to continue its store expansion. A company representative noted, "We will open two additional stores at Hyundai Outlet this month and are continuously reviewing future expansion directions."* This article has been translated by AI. 2026-06-04 17:18:00

Korea's K-Tech Demo Day Held in New York to Boost U.S. Market Entry for SMEs The Korea SMEs and Startups Agency is enhancing financial support for small and medium-sized enterprises (SMEs) entering the U.S. market. On June 2, the agency held the "K-Tech Demo Day" in Manhattan, New York, showcasing 12 domestic tech service SMEs. The event attracted over 200 attendees, including representatives from global venture capital firms and investment banks such as Third Prime and JPMorgan Chase, as well as officials from the New York City Economic Development Corporation, the New Jersey Economic Development Authority, and the Brooklyn Chamber of Commerce. The morning session featured investment presentations (IR pitching) from the 12 startups, along with one-on-one investment consultations. The afternoon included discussions on local government support policies for businesses, financial support programs from local banks, strategies for attracting U.S. venture capital investment, and a panel discussion featuring Korean entrepreneurs in the K-beauty, food, and tech sectors. Earlier this year, in January, the agency opened the "K-Startup Center Silicon Valley" to assist domestic startups in expanding into the U.S. market and increasing exports. Park Il-cheol, a commercial attaché at the Korean Consulate General in New York, stated in his remarks, "Our overseas missions and local public institutions are working as a united team to actively support the entry of our SMEs into the U.S. market. I will ensure that this event serves as a successful example of our government's support for the global expansion of SMEs through collaborative efforts." Park Jang-hyuk, the agency's global growth director, emphasized, "This event is focused on providing practical assistance for attracting U.S. venture capital investment for promising domestic tech service SMEs. We will continue to strengthen connections with local investors, banks, and government agencies to expand financial support for domestic companies entering the U.S. market."* This article has been translated by AI. 2026-06-04 17:18:00

Baekdabang Launches Two New Baumkuchen Flavors Filled with Cheese and Custard Cream Daebong Korea's coffee brand Baekdabang has introduced two new dessert items, the 'Cheese Holic Baumkuchen' and 'Custard Holic Baumkuchen,' filled with cheese and custard cream, respectively. On June 4, Baekdabang announced the launch of these new flavors, which follow the previously released 'Choco Holic Baumkuchen.' The 'Cheese Holic Baumkuchen' features a rich cheese cream filling that delivers a savory and sweet flavor, while the 'Custard Holic Baumkuchen' is filled with smooth and sweet custard cream, emphasizing a creamy taste. The new products will be available at Baekdabang locations nationwide, excluding some stores, as well as at Baekdabang's Bakery Research Institute. Baekdabang has been accelerating its dessert menu expansion recently. Following the launch of 'Choco Churros Chewy Balls' and 'Corn Chewy Balls' last month, the introduction of the Baumkuchen products further broadens its dessert offerings. A Baekdabang representative stated, "We introduced these new products to expand our dessert menu that pairs well with coffee. We will continue to enhance customer satisfaction through a diverse dessert lineup."* This article has been translated by AI. 2026-06-04 17:18:00

EcoPro Launches Comprehensive AI Initiative Ahead of 30th Anniversary EcoPro has announced its commitment to a company-wide initiative called "AX (AI Transformation)," aiming to integrate artificial intelligence (AI) across all sectors by its 30th anniversary in 2028. On June 4, EcoPro stated that it plans to go beyond using AI as a mere work assistant, applying it comprehensively in manufacturing and research and development (R&D) to drive significant innovation. Notably, the company's Hungarian subsidiary, EcoPro BM, aims to enhance productivity through the introduction of AI-based robotics for operational automation. EcoPro intends to implement a "three-phase roadmap" to become an AI-driven enterprise, leveraging partnerships with leading AI consulting firms. According to the AX three-phase roadmap, EcoPro will establish the foundation for AX this year through company-wide data standardization and pilot projects. Building on this, the company plans to scale up operations next year, with the goal of becoming an AI-driven company by 2028, where AI will facilitate 24/7 operations across all domestic and international subsidiaries. Initially, EcoPro will integrate AI into its R&D sector, aiming to reduce the lead time from R&D to mass production by 50%. Previously, the timeline for product planning to mass production took at least three to five years, but the company plans to cut this duration in half using AI. The introduction of "Physical AI" will also be pursued, with plans to establish autonomous manufacturing plants and laboratories. This implementation is expected to allow robots to take over hazardous tasks, creating a continuous operation and experimentation system that functions 24/7 throughout the year. The production sites will also integrate AI operational systems. The current reliance on workers' experience and intuition will shift to an "AI autonomous control environment" utilizing a manufacturing data platform and machine learning. EcoPro aims to enhance operational efficiency and manufacturing productivity by 30% through the establishment of an "AI autonomous control mother line" in precursor and cathode material calcination lines. AI is expected to analyze and predict defect causes with 95% accuracy and reduce energy consumption by approximately 15-20% through a data-driven predictive maintenance system. Lee Soo-ho, Vice President of EcoPro's AI Innovation Office, stated, "Beyond innovating traditional manufacturing methods, collaboration with AI is now essential. We plan to create an environment where employees can naturally utilize AI as a colleague, thereby improving operational efficiency across the board." Meanwhile, EcoPro BM plans to commence full-scale production at its Debrecen plant in Hungary during the first half of the year. This move aims to directly address the tightening regional regulations, such as the EU Critical Raw Materials Act (CRMA), while strengthening its supply chain and securing new clients among European original equipment manufacturers (OEMs).* This article has been translated by AI. 2026-06-04 17:12:00

Kyochon F&B Launches Summer Market Popup at Shinsegae Department Store in Daegu Kyochon F&B will host a popup store at the Shinsegae Department Store in Daegu, showcasing its food and beverage brands, including chicken, craft beer, and makgeolli. The popup store, themed 'Summer Market,' will run from June 5 to June 11 on the first basement floor of the Shinsegae Department Store's food hall. This event features a modern reinterpretation of the atmosphere of traditional markets and taverns. Visitors will have the opportunity to sample a variety of Kyochon products, including chicken, makgeolli, craft beer, sauces, and vinegars. Kyochon F&B is expanding its business beyond chicken to include traditional liquors, fermented products, craft beer, and sauces. Participating brands in this event include Kyochon Chicken, craft beer brand Moon Bear, traditional liquor and fermented products brand Fermentation Workshop 1991, sauce specialist BHNBIO, and K&P Food, which produces fermented vinegar and pickled radishes. The event will also feature a set menu that includes Kyochon Chicken's popular side dishes, such as 'Spicy Rice Cake Soup' and 'Wedge Potatoes,' along with boneless chicken. Limited-time menu items like 'Cheongyu Boneless Chicken' and 'Chili and Nacho Boneless Chicken,' which received positive feedback at the popup in April at Hyundai Department Store in Pangyo, will also be available again. Alcoholic beverages will also be offered. Moon Bear will provide craft beer packages and wine beer packages, while Fermentation Workshop 1991 will sell its 'Galaxy' series, 'Galaxy Starry Night,' and APEC set. Additionally, various products showcasing Kyochon’s food culture, including Fermentation Workshop 1991's fermented product sets, BHNBIO's sauce sets, and K&P Food's fermented vinegar, will be available for tasting and purchase at the venue. Following the success of the popup at Hyundai Department Store in Pangyo, which drew long lines, Kyochon F&B plans to further expand customer engagement through this event. The previous popup featured popular pairings like Kyochon boneless chicken with Fermentation Workshop 1991's 'Galaxy Makgeolli,' as well as limited-time menu items that sold out quickly. A Kyochon F&B representative stated, "This popup store is designed to allow customers to experience Kyochon’s diverse flavors in a unique market setting within a department store. We will continue to expand opportunities for customers to engage with various brands and food cultures."* This article has been translated by AI. 2026-06-04 17:09:00