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Senior Consumers Drive Growth in Seoul's Traditional Markets Seouls commercial landscape is undergoing a transformation. While the growth of areas once dominated by young consumers, such as Hongdae and Sinchon, has slowed, districts like Cheongnyangni, Jongno 3-ga, and Suyu Traditional Market, which have a higher proportion of consumers aged 60 and older, are expanding rapidly. Analysts suggest that the era of youth-driven consumption is giving way to a resurgence of established markets supported by the spending power of seniors.According to an analysis of data from the Seoul Metropolitan Governments commercial analysis service, areas with a high percentage of consumers aged 60 and older have shown significant revenue growth. Traditional markets, long-established businesses, and sectors such as healthcare, jewelry, and daily necessities are thriving based on senior consumer spending.A prime example is the area around Cheongnyangni Station, where the proportion of consumers aged 60 and older is 34.1%, one of the highest among major commercial districts analyzed. During the same period, revenue in this area surged by 228%. Historically recognized for its strong middle-aged and elderly consumer base, Cheongnyangni is now emerging as a key commercial hub in northeastern Seoul, bolstered by mixed-use developments and improved transportation networks.Suyu Traditional Market has also experienced rapid growth, with revenue increasing by 302% over the past five years. Similarly, the Jongno 3-ga area saw a 71% increase during the same timeframe. These regions share a commonality in their strong demand from middle-aged and older consumers for sectors such as jewelry, traditional medicine, and dining.In contrast, the growth of traditionally youthful commercial areas has not kept pace. The Hongdae area saw only a 16% increase in revenue during the same period, while Sinchon experienced an 8% decline. Although both areas continue to attract a significant number of visitors in their 20s and 30s, they are no longer driving explosive consumption growth as they once did.This shift is attributed to changes in demographic structure and consumption patterns. Over the past five years, the population of individuals in their 20s in Seoul has decreased from 1.63 million to 1.49 million, a decline of 8.6%. Additionally, as consumption shifts from offline to online, the growth of card-based spending in youth-centric areas has also slowed.Conversely, the consumer base aged 60 and older is expanding rapidly. As the baby boomer generation enters retirement, the so-called active seniors are increasingly engaging in consumption. They are proactive in dining out, health management, and leisure activities, and they exhibit strong loyalty to the offline markets they have frequented for years.Particularly in established areas like Cheongnyangni, Jongno 3-ga, and Suyu Traditional Market, the markets serve as vital consumer hubs that go beyond mere retail functions, offering a dense mix of hospitals, pharmacies, traditional markets, restaurants, and lifestyle services. This aligns with senior consumers preferences for shopping in person, frequenting familiar stores, and addressing their healthcare, food, and dining needs in one visit.Moreover, the trend of retro consumption among younger consumers is contributing to the reevaluation of older markets. Traditional markets and long-standing businesses, once considered outdated, are being reinterpreted as hip spaces among younger demographics. The stable consumer base provided by seniors, combined with the influx of younger visitors, is broadening the appeal of these markets.However, not all older markets are experiencing revitalization. For senior consumer spending to translate into commercial growth, factors such as transportation accessibility, diversity of businesses, density of lifestyle services, and residential demand must be present. Cheongnyangni benefits from transit-oriented development and enhanced transportation networks, while Jongno 3-ga thrives with specialized sectors like jewelry, healthcare, and dining. Suyu Traditional Market plays a strong role in capturing local consumer spending.Song Seung-hyun, CEO of Urban and Economy, noted, “Consumers aged 60 and older have accumulated extensive experience using traditional offline markets, maintaining a consumption pattern that emphasizes direct purchasing, dining, and enjoyment.” He added, “Old markets like Cheongnyangni and Jongno are not just retail spaces; they still evoke nostalgia for seniors through offerings like fresh produce, seafood, and traditional medicine. Markets that maintain a structure allowing for both wholesale and retail, like Cheongnyangni Market and Gwangjang Market, are regaining competitiveness.”* This article has been translated by AI. October 24, 2026 14 -
Shinsegae chairman returns to E-Mart helm amid Starbucks fallout SEOUL, October 23 (AJP) - Shinsegae Group Chairman Chung Yong-jin was named co-CEO of E-Mart on Friday as the retail conglomerate unveiled a sweeping management reshuffle aimed at strengthening accountability and internal oversight, five months after a Starbucks Korea marketing controversy sparked nationwide criticism and a consumer boycott. The appointment, part of the group's regular executive reshuffle for 2027, puts Chung on course to return to the management of E-Mart, South Korea's largest discount-store chain, 13 years after he stepped down as a registered director in March 2013. Chung will share leadership of E-Mart with Kim Hong-geuk, currently CEO of Shinsegae Casa, who has also been tapped to head the group's online shopping platform SSG.com. The appointments will require approval through the relevant corporate procedures, including a shareholders' meeting. Chung had announced plans in June to take direct responsibility for E-Mart and Shinsegae Property following criticism that he exercised substantial influence over group companies without serving as a registered director accountable to shareholders. The management overhaul also includes changes at SCK Company, the operator of Starbucks Korea, which has struggled to recover from a promotional campaign that drew accusations of trivializing two defining episodes in South Korea's democratic history. SCK Company has established a new digital management division and an information security center to strengthen oversight of marketing content, digital platforms and internal approval procedures. The company has also consolidated its operations divisions and reorganized its beverage, food and merchandise development functions to streamline decision-making. The changes follow a controversy that erupted on May 18, the anniversary of the 1980 Gwangju Democratic Uprising, when Starbucks Korea promoted a tumbler discount event using the phrase "Tank Day." The wording provoked outrage because it coincided with the commemoration of the military crackdown on pro-democracy protesters in Gwangju, during which hundreds of civilians were killed. The promotional material also featured the phrase "with a thud on the desk," which critics said evoked the police's notorious explanation for the death of student activist Park Jong-chol in 1987. Police initially claimed that Park had suddenly died after an officer struck a desk during questioning, concealing the fact that he had been tortured to death. The controversy triggered calls for a Starbucks boycott, with consumers posting videos of themselves destroying Starbucks merchandise and civic organizations in Gwangju staging protests against the company. The commercial repercussions have continued for months. According to BC Card transaction data obtained by Democratic Party lawmaker Hwang Jung-a and released on Oct. 12, Starbucks sales through the card provider fell 23.5 percent in the week immediately following the controversy compared with the preceding week. Sales declined year-on-year in 19 of the 20 weeks examined following the incident. During Oct. 1-7, transaction sales were 11.7 percent lower than in the corresponding period a year earlier and 4.9 percent below the May 11-17 period immediately preceding the controversy. The figures cover transactions processed by BC Card rather than Starbucks Korea's total revenue, and do not independently establish how much of the decline was caused by the boycott. The broader Shinsegae reshuffle extends beyond Starbucks. E-Mart and Shinsegae's hotel businesses have strengthened their information security organizations, while convenience-store chain E-Mart24 has established dedicated compliance and information security units. The group has also appointed Choi Taek-won, previously CEO of SSG.com, to oversee management support functions, including personnel and auditing, while Park Seung-hak has been named head of external relations. Hur Min-ho, a former CEO of beauty and health retailer CJ Olive Young, has been recruited to lead Shinsegae Casa. The conglomerate promoted 36 employees to executive positions, while the proportion of executives in their 40s reached a record 18 percent, reflecting a broader generational shift in management. Shinsegae said the appointments were intended to address pressing business challenges, strengthen its core retail operations and accelerate expansion into artificial intelligence, lifestyle, content and entertainment businesses. October 23, 2026 14 -
Lotte Construction Opens Model Home for Hwaseong Hyangnam Lotte Castle Signature Lotte Construction has opened a model home for the Hwaseong Hyangnam Lotte Castle Signature in the Sangsin-ri area of Hwaseong, Gyeonggi Province, marking the start of its sales campaign. This is the first Lotte Castle brand complex introduced in the Hyangnam area, comprising a total of 1,542 units.According to Lotte Construction, the Hwaseong Hyangnam Lotte Castle Signature features three basement levels and rises up to 29 stories across 17 buildings, with unit sizes ranging from 84 to 120 square meters. The breakdown includes 1,331 units of 84 square meters, 56 units of 102 square meters, 78 units of 112 square meters, and 77 units of 120 square meters. Approximately 86% of the total units will be 84 square meters.The complex will be designed around a central plaza, featuring parks, a 2.4-kilometer circular walking path, and a glamping garden to create a pleasant living environment. Each unit will include a dedicated storage space, and enhancements such as dressing rooms, pantries, optional alpha rooms, and three-sided balcony extensions will maximize space utilization.Community facilities will cover approximately 7,660 square meters, including an indoor swimming pool with four lanes, a screen golf facility, a multi-level library café, and a standalone guesthouse.Residents will also benefit from lifestyle and educational services. Through Lotte Constructions residential service platform Elyes, residents will have access to discounts on car sharing, home care, health check-ups, moving and cleaning services, and movie screenings. Additionally, a shuttle bus for students and a two-year free YBM language program are planned to enhance educational offerings.The complex is strategically located to utilize existing infrastructure in the Hyangnam 1 and 2 districts. Nearby amenities include Lotte Cinema, Hwaseong Central General Hospital, and the Manse-gu Office. It is also close to the Hyangnam Pharmaceutical Complex and the Bal-an Industrial Complex, as well as the upcoming Samsung Electronics advanced logistics hub at H Techno Valley.Transportation options include access to the Seohae Line Hyangnam Station. Projects to extend the Shin Ansan Line to Hyangnam and connect the Seohae Line with the Gyeongbu High-Speed Line via KTX are underway, which are expected to improve regional transportation accessibility in the future. However, both projects are still in the planning stages, and timelines for completion have not been confirmed.A representative from Lotte Construction stated, The Hwaseong Hyangnam Lotte Castle Signature features floor plans that enhance space utilization, along with community amenities such as an indoor swimming pool and central park. We expect it to become a landmark that leads the new residential trend in Hyangnam.The application schedule begins with special supply on November 2, followed by first priority applications on November 3 and second priority applications on November 4. Winners will be announced on November 10.The model home is located at 374 Hagil-ri, Hyangnam-eup, Hwaseong, and occupancy is expected in December 2029.* This article has been translated by AI. October 23, 2026 09
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CJ and Shinsegae Join Forces to Acquire JoongAng Ilbo, Descendants of Founder Invest CJ Group and Shinsegae are participating in the acquisition of JoongAng Ilbo, a newspaper founded by the late Lee Byung-chul, drawing attention to their ties within the Samsung family. While Lees grandson, CJ Chairman Lee Jae-hyun, and granddaughter, Shinsegae Chairwoman Jeong Yu-kyung, have teamed up, Samsung Group has opted out of the bidding.According to industry sources on October 22, Shinsegae has joined the Daou Kiwoom and CJ consortium as an equity investor, which was initially pursuing the acquisition alone before partnering with CJ ahead of the main bidding.This acquisition is noteworthy due to the historical connection between JoongAng Ilbo and the broader Samsung family. The newspaper was founded by Lee Byung-chul in 1965. His son, the late Lee Kun-hee, was appointed as a director of JoongAng Ilbo and Dongyang Broadcasting in 1968, marking the beginning of his management training. JoongAng Ilbo was part of Samsung Group until it was spun off in 1999, when management was taken over by Hong Seok-hyuns family, who is the brother-in-law of Lee Kun-hee. Following a liquidity crisis, JoongAng Ilbo is now up for sale, marking a shift in ownership after 27 years, with descendants of the founder stepping in as investors.Lee Jae-hyun is the son of the late Lee Maeng-hee, honorary chairman of CJ Group, while Jeong Yu-kyung is the daughter of Lee Myung-hee, chairwoman of Shinsegae Group and the youngest daughter of Lee Byung-chul. Lee Myung-hee has been known to have a special attachment to JoongAng Ilbo, founded by her father.CJ and Shinsegae have both established independent business domains after separating from Samsung. However, analysts suggest that the historical significance of the media company founded by their ancestor may have influenced their decision to participate in the acquisition, with some interpreting it as a family-level decision to not fully relinquish control of the newspaper.In contrast, Samsung has not participated in this acquisition process. Reports indicate that Samsung did not consider acquiring JoongAng Ilbo from the outset. Samsung Electronics Chairman Lee Jae-yong is said to be focused on core businesses such as semiconductors and smartphones. Historically, Samsung operated a video business unit but distanced itself from media and entertainment after the Asian financial crisis.CJ has cited the founding spirit of its predecessor as the official reason for its participation. A CJ representative stated, We decided to participate jointly to carry on the founding spirit of Chairman Lee Byung-chul and to consider business synergies in media content, logistics, and advertising. CJ already holds a 9.24% stake in JoongAng Ilbo through its subsidiary CJ Olive Networks. CJ, which operates in broadcasting, film, music, and online video services, sees potential collaboration with JoongAng Ilbo in news, digital content, advertising, and distribution networks.Shinsegaes approach appears to focus more on equity investment rather than securing management control. A Shinsegae representative explained, We plan to create synergies between our premium cultural platform and lifestyle content while respecting JoongAng Ilbos unique identity and expertise. Under Jeong Yu-kyungs leadership, Shinsegae is enhancing its premium content across department stores, duty-free shops, and fashion and beauty sectors, with discussions about integrating JoongAng Ilbos media brand and cultural content into existing retail platforms.The acquisition process for JoongAng Ilbo is still ongoing. The acquisition price is estimated to be around 500 billion won, and the equity ratios and management participation among consortium members are expected to be finalized through future negotiations. Ensuring the operational stability and editorial independence of JoongAng Ilbo post-acquisition is also seen as a major challenge, with CJ having previously stated that it prioritizes editorial independence.An industry insider remarked, The fact that CJ and Shinsegae are jointly pursuing the acquisition of JoongAng Ilbo without Samsungs involvement is a symbolic representation of the historical ties within the Samsung family. However, it will be crucial to balance each companys business interests while securing JoongAng Ilbos independence and competitiveness after the acquisition. October 22, 2026 18
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Apartment Prices Drop in Gangnam, But Small Units See Record Sales Apartment prices in the Gangnam Districts (Gangnam, Seocho, and Songpa) have been declining for several weeks, yet some small and ultra-small apartments are experiencing record sales. Despite concerns over tax burdens on high-priced homes and lending restrictions, demand for smaller units is rising as buyers seek to enjoy the amenities of the Gangnam area.According to the Ministry of Land, Infrastructure and Transports real transaction disclosure system, a 51㎡ unit at the Samik Daechung Apartment in Gaepo-dong sold for 2.1 billion won on October 6, setting a new record. This price is 500 million won higher than the previous peak of 1.6 billion won in 2022. Similarly, a 51㎡ unit at the Gangnam Jagok Hillstate in Jagok-dong sold for 1.385 billion won on October 15, also marking a new high.Record sales have also been reported in Songpa District. A 59㎡ unit at the Jamsil Olympic Park I-Park in Pungnap-dong sold for 2.33 billion won on October 5, setting a new record. Additionally, a 39㎡ unit at Munjeong City Young in Munjeong-dong sold for 1.25 billion won on September 21, maintaining a high price level.This trend contrasts with the overall decline in apartment prices in the Gangnam Districts. The Korea Real Estate Agency reported that as of the third week of October (as of the 19th), the sale prices in Gangnam and Seocho fell by 0.31% and 0.32%, respectively, marking the 11th consecutive week of decline. Songpa also saw a decrease of 0.13%, continuing its downward trend for seven weeks.The average transaction price for small and ultra-small apartments has also increased. Data from the Ministry of Land indicates that the average transaction price for ultra-small apartments (under 40㎡) in the Gangnam Districts rose from 661 million won in August to 899.5 million won in September, a 36.1% increase. For small apartments (over 40㎡ and up to 60㎡), the average price increased by 10.6%, from 1.939 billion won to 2.145 billion won during the same period.In contrast, large apartments (over 85㎡) saw a smaller increase of 3.5%, rising from 3.788 billion won to 3.922 billion won. However, average transaction prices can vary based on the specific complexes and their respective floors and price ranges.Analysts suggest that buyers are turning to small apartments to maintain their location in Gangnam while lowering their total purchase costs. With limited funds available for home purchases due to lending limits, many buyers prioritize accessibility to workplaces and convenience over larger living spaces, making small apartments an attractive option.Shin Bo-yeon, a professor at Sejong University’s Department of Real Estate AI Convergence, stated, Gangnam is a region where businesses and lifestyle facilities are concentrated, leading to consistent demand for residence. In a situation where funding is limited due to lending caps, people who want to enjoy the benefits of living in Gangnam are purchasing small apartments that fit their budgets.Future tax reforms will also be a variable affecting demand across different price ranges. Increased tax burdens on high-priced apartments could dampen buyer sentiment. However, the specific impact will depend on the prices of individual homes and the finalized details of the tax reforms.Professor Shin added, High-priced apartments in Gangnam are likely to continue adjusting in price until the tax reform proposals are finalized, while relatively lower-tax small homes are expected to maintain their upward trend due to ongoing demand for the location and amenities of Gangnam. October 22, 2026 16
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Lock & Lock's Tapflow Opens Popup at IGUHOME The Hyundai Seoul Lock & Locks lifestyle brand Tapflow is hosting a popup event at IGUHOME The Hyundai Seoul until November 12.According to Lock & Lock on October 22, the popup is designed for consumers to experience Tapflows brand philosophy and products, focusing on new items.Tapflow promotes a ME TIME lifestyle, encouraging individuals to enjoy personal moments amidst busy schedules. The brand features two main lines: GO FLOW for outdoor activities and STAY FLOW for relaxation, offering a variety of items including daily bags, tumblers, and home living products.The newly introduced Tapflow Flip Tumbler 530ml enhances portability and usability compared to the popular Flip Tumbler 730ml. It features a one-touch open cap and an integrated pop-up straw, allowing users to drink easily with just a button press.Notably, the tumbler incorporates a silence silicone pad to reduce noise when opening and closing the lid. It also includes a handle for a stable grip and a wide body measuring approximately 8cm, making it easy to carry and clean.The tumbler can keep beverages cold for up to 29 hours below 10°C and hot for up to 8 hours above 50°C, making it suitable for commuting, outdoor activities, and leisure time.Previously, Tapflow held a popup event in July at IGUHOME Seongsu. Lock & Lock officially launched Tapflow in January.A Tapflow representative stated, We hope visitors will experience the stylish design and practicality of our diverse products through this popup. We will continue to expand customer engagement through various brand activities that integrate online and offline channels, centered around a differentiated product lineup.* This article has been translated by AI. October 22, 2026 16
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CJ OnStyle Aims to Boost Korean Creator Commerce by 35 Times by 2030 CJ OnStyle has introduced a Korean-style creator commerce model as a new growth engine for the domestic commerce market, aiming to increase related sales by 35 times by 2030. The company plans to transform mobile content commerce through an end-to-end business model that integrates support from product planning to logistics, customer service, and global expansion, along with an AI-based matching platform.On October 22, CJ OnStyle unveiled its NEXT Content Commerce growth strategy during a media day at the Creator Commerce Festival Korea (CCFK) 2026 held at COEX in Seoul.Seong Dong-hoon, head of the commerce division at CJ ENM, stated, The customer shopping journey is shifting from a search-based, goal-oriented approach to a discovery and relationship-based shopping experience centered around social media. He added, By 2030, we aim to nurture 100,000 commerce-specialized creators and increase the share of creator commerce in mobile content commerce from 9% last year to 50%. Creator commerce refers to a model where influencers, YouTubers, webtoon artists, and TikTok creators with their own fan bases plan, recommend, and sell products. Unlike traditional shopping malls that focus on product specifications or prices, creator commerce is characterized by purchases made based on fandom and trust.While platforms like LTK and ShopMy are rapidly growing in North America and other global markets, collaboration between creators and brands in South Korea remains fragmented, lacking a sustainable commerce infrastructure. CJ OnStyle aims to overcome these market limitations by integrating its 30 years of retail and broadcasting expertise with data and AI technology.The end-to-end system established by CJ OnStyle connects the entire transaction process, from product exploration and matching to content creation, sales, settlement, delivery, and customer service. The company will deploy over 100 professional producers and mobile live commerce production capabilities to fully support high-engagement product planning tailored to fan characteristics.To enhance the accuracy of matching between brands and creators, CJ OnStyle will utilize social media user reactions, creator content analysis, and actual purchase data. The company is also advancing trend analysis and short-form content automation based on its AI content business platform. All processes will be integrated through the creator matching platform ONTNER, launched in September.During a subsequent guest talk session, academics and industry experts discussed the industrial significance of creator commerce.Professor Kim Do-hyun from Kookmin University noted, The role of trust assets, once held by door-to-door sales in the Joseon Dynasty or past brand reviews, is now being taken over by trustworthy creators. This presents a powerful opportunity for small brands and startups without massive marketing capital to enter new markets.Park Hyun-sun, CEO of the fashion and beauty brand Lavian, emphasized, Constant communication and empathy with consumers directly lead to product development and repeat purchases. For creators influence to persist, a solid distribution infrastructure, including reliable product quality and customer service, is essential.CJ OnStyle is also pursuing global expansion to assist K-beauty and K-fashion lifestyle brands in entering overseas markets, based on its validated creator commerce model in South Korea. The company plans to connect domestic and international creators with K-brands to increase global customer touchpoints.Seong stated, By combining CJ OnStyles content commerce competitiveness with data and AI capabilities, we will establish a new standard for creator commerce based on trust and expertise. We aim to support the global expansion of K-brands through content and evolve into a K-lifestyle curator that connects Korean lifestyles with the world.The first-ever Creator Commerce Festival Korea (CCFK) 2026, hosted by CJ OnStyle, will take place at COEX until October 24. The event features participation from global platforms like YouTube, Meta, and TikTok, along with major creators such as Lee Sa-bae, Itsub, Joo Eon-kyu, and Cham PD, as well as over 100 popular brands, sharing insights into the future of content business and providing hands-on experience opportunities. October 22, 2026 15
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Lotte Department Store Opens New Shopping Mall in Cheongnyangni After 15 Years Lotte Department Store is set to unveil a new shopping mall in Cheongnyangni, Seoul, marking its first new location in the city in 15 years. Unlike traditional large shopping centers, this compact shopping mall spans approximately 18,000 square meters, focusing on key brands and experiential content. The strategy aims to capitalize on the increasing demand in the northeastern Seoul market due to redevelopment efforts. On October 23, Lotte Department Store will open Lotte Mall Bellytown Cheongnyangni in the Lotte Castle SKY-L65 landmark tower in Dongdaemun District. This is the first new store in the Seoul area since the Gimpo Airport location opened in 2011. Bellytown Cheongnyangni will feature a sales area of about 18,000 square meters, spanning from the basement level to the fourth floor. It will connect to the existing Lotte Department Store in Cheongnyangni and host over 50 brands, with approximately 80% being either first-time entries for retailers or the largest stores in the northeastern market. Lotte Department Store is focusing on the redevelopment of the Cheongnyangni area and the expansion of transportation networks. More than 30,000 new households are expected to move into nearby areas, including the Cheongnyangni redevelopment district and the Imun and Hwikyung districts, by 2030, which is anticipated to increase demand from younger and family customers. A key differentiator for the shopping mall is the Lotte Group character Bellygom. A media cube displaying Bellygom videos will be installed at the entrance on the first floor, along with a 5-meter tall Bellygom sculpture in the outdoor plaza. The shopping space will feature 90 BOSE audio systems to provide different music on each floor, while signature scents from Lotte Department Store, such as Plitvice, will be used in major rest areas. This approach aims to enhance the shopping experience by engaging sight, sound, and smell to encourage longer visits. The selection of brands is also distinctive. The first floor will include a hand-drip bar from the specialty coffee brand Terarosa, the first Seoul location of the famous Busan bakery Gentz Bakery, and the first store of the liquor specialty shop Liquor Locker. On the second floor, the first bag and hat specialty store Musinsa Bag & Cap Club will open, along with a running specialty store Decathlon and a beauty store Off Beauty. The third and fourth floors will cater to family customers, featuring the largest Daiso in Dongdaemun District, the family restaurant VIPS, the largest Fun Square from Bandai Namco Korea, and the kids theme park Bounce. The global dining brand Haidilao is set to open in November. On the basement level, directly connected to Cheongnyangni Station, lifestyle stores such as Miniso and Nitori will be available. In December, a Musinsa Standard store of about 2,000 square meters is also expected to open. This opening aligns with Lotte Department Stores strategy to strengthen its competitiveness in the northeastern Seoul market. Previously, Lotte renovated about 80% of its Nowon store, which saw a 15% increase in sales in the first half of this year compared to the same period last year. In Cheongnyangni, Lotte has opted to expand its customer base by adding a shopping mall rather than completely renovating the existing department store. With the opening of Bellytown, Lotte Department Store aims to establish its third Lotte Town in Seoul, following Myeongdong and Jamsil. The fourth floor of the shopping mall will connect to the third floor of the existing department store, and the passageway to Cheongnyangni Station will also be expanded. The main building of the existing Cheongnyangni store will undergo phased renovations. Kim Si-hwan, the manager of Lotte Department Store Cheongnyangni, stated, While the scale is compact, we have worked to create Lotte Town Bellytown Cheongnyangni with content stronger than any large shopping mall. We aim to develop Lotte Mall Bellytown Cheongnyangni into the premier next-generation shopping landmark in the northeastern region, connecting current and future customers.* This article has been translated by AI. October 22, 2026 14
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Inje's Autumn Festival Features Walking, Jazz, and Traditional Farming Events The autumn festival in Inje, Gangwon Province, continues with walking, jazz, and rural experiences following the flower and local culture events held earlier this month. Over the next two weekends, various activities will take place throughout the region.According to Inje County on October 22, the 9th Inje Cheonri Walking Festival will be held on October 24-25, along with the 4th Gwandaeri Jazz Festival on October 24. The 14th Hachuri Village Dorikae Festival will take place from October 31 to November 1.This month, Inje has hosted a series of tourism festivals and community participation events. The Inje Autumn Flower Festival, which opened on September 24 at the Yongdae Tourist Site, was originally scheduled to end on October 11 but was extended by a week to October 18 due to the blooming of chrysanthemums and other flowers.From October 16 to 18, the 44th Hapgang Cultural Festival and a cultural and sports event for military personnel were held. Following that, the 12th Lifelong Learning Expo took place on October 17-18, along with a health experience event on October 18, showcasing traditional culture, performances, and health activities.The remaining events will take place along paths, lakes, and mountain villages, expanding options for autumn outings with walking, music, and traditional rural culture experiences.The walking festival, organized by the Inje Cheonri Association, will feature different routes over the two days. On October 24, participants will walk the 18.8 km Seorak Majubogil route from Manhae Village to Seohung-ri, leading to Wonheung. On October 25, the 13.1 km Hankyeong-ganeun-gil route will take walkers from Wonheung to Hankyeong Mountain Fortress.The jazz festival will kick off at 3 p.m. on October 24 at the Soyang Lake area in Gwandaeri. Performers including Sowatnolla, Harim, Batchwork Road, Artlu, Silly Tomatoes & Momo will take the stage, continuing until the evening.A special dinner prepared by Chef Kim Hyung-kyu, the village head of Gwandaeri, will also be part of the program, combining music and food against the backdrop of Soyang Lake. Details regarding ticket reservations and dining options can be found through the event organizers.During the last weekend of this month, Hachuri Village will transform into a traditional rural culture experience venue. The Dorikae Festival, held over two days starting October 31, will focus on the villages representative crops and harvest culture.On the first day, residents will participate in traditional threshing games, reenacting old farming processes such as threshing, winnowing, and rice cake pounding. Visitors can also enjoy a threshing competition, rubber shoe throwing, and fishing games, along with cultural performances, food stalls, and photo exhibitions.All these events share a common theme of utilizing local resources for experiential activities. The walking festival connects villages, the jazz festival highlights the lake scenery and cuisine, and the Hachuri festival emphasizes the cultivation of grains and the lifestyle of residents. This provides opportunities for visitors to explore different areas of the region.The county expects these ongoing events to attract visitors during the autumn season, boost the local economy, and invigorate rural communities.Inje County Tourism Director Lee Myung-kyu stated, “We hope that visitors will come to Inje with family and friends during the remaining weekends in October to enjoy the autumn atmosphere and create special memories.”* This article has been translated by AI. October 22, 2026 11
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LNG Prices Exceed $30 for First Time in Four Years Amid Supply Crisis LNG Prices Exceed $30 for First Time in Four Years Amid Supply Crisis As the global liquefied natural gas (LNG) supply crisis continues due to the ongoing conflict in the Middle East, Northeast Asias LNG futures prices have surpassed $30 per MMBtu for the first time in nearly four years. Despite predictions of a warmer winter, the seasonal demand for heating and supply disruptions from the Middle East are expected to increase South Koreas LNG procurement costs. According to relevant authorities on the 21st, the December futures price of the Japan Korea Marker (JKM), a key indicator for Northeast Asia LNG prices, reached $30.010 per MMBtu on October 19. This marks the first time the JKM futures price has exceeded $30 since December 22, 2022, when it was $31.635. Although the JKM futures price fell to $29.550 on October 20, a 1.53% decrease from the previous trading day, it remains 13.7% higher compared to $25.990 on September 21. SK hynix Faces Pressure Over Solidigms Dual Listing Regulations The push for Solidigm, a U.S. subsidiary of SK hynix, to list on Nasdaq has drawn scrutiny from financial authorities and the Korea Exchange, both asserting that it falls under dual listing regulations. Financial Supervisory Service Chairman Lee Chan-jin stated during a parliamentary audit that Solidigm qualifies as a dual listing, and the Korea Exchange has echoed this sentiment. On the 21st, materials obtained by National Assembly member Ahn Cheol-soo indicated that the Korea Exchange believes Solidigm meets the criteria outlined in Article 78-2 of the Securities Market Listing Regulations and Article 70-3 of the Implementation Rules, which pertain to subsidiaries. Consequently, even if Solidigm lists on a foreign exchange, it must comply with shareholder protection obligations applicable to its domestic parent company. Samsung Fire & Marine Plans to Expand Car Care Services to Corporate Market Samsung Fire & Marine is set to expand its car care services into the corporate vehicle market, which encompasses approximately 4 million vehicles. This strategy aims to mitigate the profitability pressures in auto insurance by targeting corporate clients as a new growth base and reducing customer churn while securing additional revenue beyond insurance. According to financial sector sources on the 21st, Samsung Fire & Marine is considering extending its car care services from individual customers to corporate clients. The car care service offers a range of vehicle management and lifestyle benefits, including inspections, repairs, refueling, parking, and car washes, separate from auto insurance. While some insurers restrict access to their auto insurance policyholders, Samsung Fire & Marine is making its services available to everyone, regardless of their insurance status, to broaden customer engagement. Samsung Electro-Mechanics Forms Strategic Partnership with NVIDIA Samsung Electro-Mechanics has entered into a strategic partnership with global AI semiconductor company NVIDIA, securing a long-term supply contract for semiconductor package substrates starting this year. On the 21st, Samsung Electro-Mechanics announced that it has formed a strategic business partnership with NVIDIA to strengthen the global AI semiconductor supply chain and accelerate the expansion of next-generation AI infrastructure. The two companies plan to jointly invest in expanding production facilities for AI semiconductor package substrates. Based on this partnership, Samsung Electro-Mechanics will supply NVIDIA with AI semiconductor package substrates for several years starting in 2026. Chinese Cosmetics Brands Target South Korean Market Amid Expansion Chinese cosmetics brands are expanding their distribution networks in South Korea, aiming to capture the domestic market. By emphasizing the design and product composition of color cosmetics, they are attracting younger consumers and also expanding their sales networks in the United States, a key export market for K-beauty. According to data from the Korea Customs Service on the 21st, the import value of Chinese cosmetics, including skincare and color cosmetics (HS3304), reached approximately $62.45 million from January to September this year, marking a 24.5% increase compared to $50.15 million during the same period last year. Every month this year, except for July, has seen imports surpassing the previous years figures, with September recording the highest monthly import value of $8.41 million.* This article has been translated by AI. October 21, 2026 22
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Dongmyung University Soccer Team Aims for Gold Medal After 34 Years Dongmyung University has advanced to the finals of the mens college soccer division at the National Sports Festival, while also achieving the highest number of top awards at the Korea Architectural Societys student exhibition.The Dongmyung University soccer team is competing for a gold medal at the 107th National Sports Festival after defeating Yonsei University, the Seoul representative, 3-1 in the quarterfinals and beating Chungnam representative Dankook University 2-0 in the semifinals.This marks the first time in 25 years that a Busan team has reached the finals in the mens college soccer division. Dongmyung University has secured a silver medal, and if they win against Kyunghee University in the finals, it will be the first gold medal for Busan college soccer in 34 years. The team also reached the finals in two national competitions held in July and August, finishing as runners-up in both.Lee Seung-jun, the head coach, expressed gratitude for the players hard work, saying, The players have done an amazing job, playing four matches in five days, starting from the round of 17. We will prepare well to ensure we can win this time. The final match is scheduled for October 22 at 2 PM at the Seogwipo Citizen Soccer Field in Jeju.In addition to the soccer teams success, Dongmyung University has also excelled in the field of architecture. Fifth-year students Park Jun-hee and Choi Jin-young were awarded the top prize, the Korea Architectural Society Presidents Award, at the 2026 Student Works Exhibition held by the Korea Architectural Society.This years exhibition featured 110 works from 59 universities nationwide, with only nine receiving the top award. Dongmyung University had both of its submitted works recognized, accounting for 22.2% of all top awards.Park Jun-hees project, Urban Introduction: Cultivating a Metabolic Habitat, proposes a self-sufficient urban space that combines residential and production facilities using the large framework of the Busan Banyeo Agricultural Wholesale Market. It explores architectural solutions for the era of population decline by integrating small residential spaces with production and circulation infrastructure.Choi Jin-youngs project, Layered Civic Commons: An Integrated Public Platform of Underground Cultural Facilities and Aboveground Plaza, envisions converting a surface parking lot between Busan City Hall and the City Hall Plaza into underground parking while creating a public plaza above ground. It aims to connect underground cultural facilities with the plaza using natural light and open spaces, improving pedestrian flow.The Dongmyung University Department of Architecture has received the highest accreditation from the Korea Architectural Accreditation Board (KAAB) in both 2017 and 2022. The department also offers specialized education in BIM, international joint classes with the Paris-Belleville School of Architecture, and an exchange program with the University of Kansas.The award-winning works will be exhibited at the Korea Architectural Societys fall academic conference at the Daejeon Convention Center from October 22 to 23 and will also be available on the student exhibition website.Support for Student Entrepreneurs Seeking Investment...Expansion of Game Development and AI EducationPrograms have been implemented to connect students entrepreneurial ideas with actual business opportunities.The Dongmyung University Local Content Focused University Project Team held the 2026 LIPS (Small Business Investment Linkage Support Project) Investment Briefing to support student entrepreneurs in securing investments. Five students, including Ko Hae-young, Kim Yang-soon, Kim Yu-jin, Kim Tae-rin, and Ryu So-hyung, who completed the local content-focused curriculum, presented their startup ideas.The students proposed wellness and food tech businesses utilizing local resources, a digital technology-based platform for revitalizing local commerce, and an eco-friendly lifestyle product brand. Investment experts, including representatives from Southeast Gyeongnam Glitch Partners, attended the event. Students received advice on refining their business models, market validation, and investment strategies through one-on-one consultations.Seo Seong-yeo, head of the entrepreneurship support team, stated, This was an opportunity for students to showcase their local content development and practical skills in the actual investment market, and emphasized the commitment to strengthening support for entrepreneurship and investment linkage.Game Development Conference to be Held...Expansion of Student-Led AI and Practical EducationA developer exchange event where students plan the program will take place in the gaming sector.The 2026 Club Union Conference GAME OVER? led by Dongmyung University game department students will be held on October 31 from 9:30 AM to 6:10 PM in Room 107 of the universitys main building.Supported by the anchor project, this event will involve game development clubs UPTRAND and GIZMO, along with clubs from universities in Busan and Ulsan, as well as industry professionals. The theme is I thought it was a failure, but it was an experience, focusing on sharing failures and challenges encountered during the development process and collaboration.In the morning session, Ha Sang-seok, CEO of Magic Cube, will speak on Surviving in the Age of AI, while Kang Hyun-woo, CEO of Next Stage, will discuss Examples of Game Development Using AI and Practical Insights.In the afternoon, students from Ulsan Universitys game development club GG, Pukyong National Universitys WAP, and Dongmyung Universitys UPTRAND will share their experiences in game production and release.Third-year student Kim Gyeom from the game graphics department remarked, While making games, projects may be halted or fail to meet expectations, but the lessons learned in that process become crucial experiences for completing future projects.The event is open to university students and aspiring developers interested in game development and AI utilization. Registration can be done via the QR code on the event poster. AI game creation education for high school students is also ongoing.The Dongmyung University game graphics department operates Game Creation Class with AI, inviting high school students to the university or visiting schools in Ulsan. Programs have been conducted for students from Busan Dong High School on July 15 and Dongnae Girls High School on October 16, with upcoming sessions planned for Busan Myungho High School on November 25 and Ulsan Ho-gye High School on December 21.In classes led by Professor Lee Jong-pyo, students plan character personalities and worldviews, create images using generative AI, and connect them with 3D models and animations.The curriculum is designed to help students learn the planning and expression processes necessary for game graphics by writing prompts for AI and modifying the generated results.Seo Mi-ra, head of the game graphics department, stated, For high school students, hearing about the major and creating their own works are two different experiences. I hope this will help them discover their interests and potential in creative activities.Central Library to Host Ribbon Book Festa from 27th to 29th...Book Sharing and PerformancesThe Dongmyung University Central Library will hold the 2026 Dongmyung University Central Library Ribbon Book Festa (TULIB Re-Born Book Festa) from October 27 to 29 in the librarys first-floor lobby and outdoor booths.Under the slogan Books, Reborn, this event is a reading culture festival involving students, international students, and local residents. The festival will feature four themes: sharing and circulation, experience and participation, exhibition and culture, and information and scholarship. Activities include Ribbon Book Dream, where duplicate and discarded books from the library are given away for free, and Overdue Escape DAY, which waives penalties for overdue books.Participants can explore their reading preferences through the Book BTI Research Institute with nine questions, create bookmarks, and take photos at a photo zone. Bookmark creation will be available for the first 600 participants.In the large screening room on the basement level, TULIB CINEMA will showcase concert footage of BTS, DAY6, and IVE. An electronic information fair featuring domestic and international e-book and academic information service providers, including Kyobo Bookstores e-books, Kyobo Scholar, DBpia, KISS, and EBSCO, will also take place.Participants in the stamp tour, who complete missions at the event booths, will receive snacks and book giveaways, as well as chances to win prizes such as Apple Watches, AirPods, Galaxy Buds, Sony headsets, and cultural gift certificates.Lee Jin-wook, the head of the Central Library, stated, This event is designed to ensure that all activities lead to reading and library usage. I hope that both students and local residents, including international students, can enjoy books and culture together this fall.The Dongmyung University Central Library provides membership and book lending services to local residents as part of its open library policy.* This article has been translated by AI. October 21, 2026 19
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Samsung Fire & Marine Insurance Plans to Expand Car Care Services to Corporate Market Samsung Fire & Marine Insurance is expected to expand its car care services to the corporate vehicle market, which encompasses approximately 4 million vehicles. This strategy aims to reduce customer attrition and secure additional revenue amid increasing profitability pressures in the auto insurance sector.According to financial industry sources on October 21, Samsung Fire & Marine is considering extending its car care services from individual customers to corporate clients.Car care services offer a range of vehicle management and lifestyle benefits, including vehicle inspections, repairs, fuel, parking, and car washes, separate from auto insurance. While some insurers limit access to their car care services to their own auto insurance policyholders, Samsung Fire & Marine is making these services available to anyone, regardless of their insurance status, thereby broadening customer engagement.The corporate vehicle market is seen as a new area for Samsung Fire & Marine to acquire customers. As companies diversify their vehicle usage through leasing and rental options, and with tax incentives for eco-friendly vehicles, corporate vehicle registrations are becoming more active.According to Kaizu Data Research Institute, the cumulative number of corporate vehicles reached 4,084,739 by September this year. The number of new registrations for corporate passenger cars increased from 421,611 in 2024 to 470,937 in 2025.The increasing profitability pressures in the auto insurance sector are also driving Samsung Fire & Marine to expand vehicle-related services. Auto insurance is a high-loss area, with the cumulative loss ratio for the five largest non-life insurers in South Korea (Samsung Fire & Marine, DB Insurance, Meritz Fire & Marine, Hyundai Marine & Fire Insurance, and KB Insurance) exceeding 80%. Under the financial authorities policy to restrain premium increases, insurers are facing greater profit and loss burdens.However, scaling back auto insurance operations is not an easy option. There are approximately 25 million auto insurance policyholders in South Korea, representing a customer base built over decades. Therefore, diversifying vehicle-related services to secure additional revenue and reduce existing customer attrition is becoming increasingly important.Since auto insurance is renewed annually, consumers often compare premiums and coverage conditions, leading them to switch to other insurers. By providing regular vehicle management services, Samsung Fire & Marine believes it can increase customer touchpoints and reduce attrition at renewal time. The company is also seen as aiming to secure new customers by expanding its car care services to corporate clients and seeking synergy with its existing auto insurance business.Other insurers are also launching differentiated services and products. KB Insurance operates KB Car Tech, which allows users to access vehicle information, maintenance history, and partnership discounts all in one mobile app. Hyundai Marine & Fire Insurance has introduced a unique policy that offers additional discounts based on monthly safe driving scores.A financial industry source stated, New initiatives are necessary to maintain the auto insurance market, which has become a burden. With cheaper auto insurance products emerging every year, vehicle-related services are a crucial means to prevent customer attrition. October 21, 2026 15
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First Private Sale in Third New Town: 1,110 Units at Kayang's 'Kive Yubora' The first private sale in Incheon’s Kayang New Town, Kive Yubora, will open its model home on the 23rd and begin full-scale sales. A total of 1,110 units with exclusive areas of 84 to 93 square meters will be offered, with special supply scheduled for November 2. According to Bando Construction on the 21st, Kive Yubora will consist of 614 units in Block AC3 and 496 units in Block AC4. Both blocks will feature two basement levels and 15 above-ground floors, with unit sizes of 84, 92, and 93 square meters. The development will showcase Bando Constructions premium residential brand, Kive Yubora. Unit types include the 84㎡A type, which features a four-bay layout with a flexible alpha room wall, pantry, and dressing room. The 84㎡D type will have a spacious entrance and an independent island, along with home bar and pantry kitchen furniture. The 93㎡B type will incorporate a corner design and a storage-type alpha room. Community facilities will include guest rooms, a coin laundry, storage rooms, and a dry car wash. Block AC3 will also feature a shared care center. Both blocks are planned to provide approximately 1.5 parking spaces per household. Nearby, there are designated sites for kindergartens, elementary schools, and middle schools. About 27% of the entire Kayang New Town area is planned as parks and green spaces, with a linear park, Kayang Byeori, connecting to the complex over a distance of approximately 1 kilometer. In addition to the apartments, a branded commercial facility named Shigan will be developed, comprising a total of 203 units. Block AC3 will have 112 commercial units, while Block AC4 will feature 91 units. Bando Construction plans to develop Block AC3 as an education and lifestyle service-centered Study Mall and Block AC4 as a medical and convenience service-centered Medical Mall. The application process will begin with special supply on November 2, followed by first priority on November 3 and second priority on November 4. Winners will be announced on November 10 for Block AC3 and November 11 for Block AC4. Contracts will be held from the 23rd to the 25th, with occupancy expected in August 2029. Kayang New Town is also the first area among the third new towns to begin occupancy this year. The Ministry of Land, Infrastructure and Transport is pushing for the initial occupancy of about 1,300 units in Incheon Kayang this year and is reviewing regional transportation measures in line with the occupancy schedule. This development marks the first private sale case implemented by a private developer in the third new town. Bando Constructions sales manager stated, “We have focused on creating premium products that reflect the diverse lifestyles of families, including spacious mid-to-large floor plans and community facilities that cater to car washing, laundry, and storage needs. The location is also advantageous for families with children, offering convenient access to commercial facilities.”* This article has been translated by AI. October 21, 2026 11
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Commons Jongam: Tailored Housing for Diverse Lifestyles From duplex homes that allow an 80-year-old mother and her 50-year-old son to maintain privacy, to small houses for single residents, residents in Jongam-dong, Seongbuk-gu, Seoul, are creating their own apartment brand and building homes tailored to their lifestyles. This initiative is part of the horizontal housing redevelopment project known as Commons Jongam.On October 1, during a meeting at the project office located at the foot of Gaewoon Mountain, Lee Won-hyung, the project leader, stated, We designed the homes considering each households lifestyle. Commons Jongam will consist of 130 units across three underground levels and up to 20 floors at the site of the former single-family homes in Jongam-dong 81-188. Construction began in September 2022, with a completion target set for June 2028, and is being carried out by Bomi Construction.Duplex Homes for Families: 11 Layouts for Diverse LivesThe design of Commons Jongam began by examining the lifestyles of existing members. Drawing on his background in architecture and experience at a design firm, Lee emphasized that they considered each households needs when planning the homes.He created detailed profiles of potential residents, envisioning how families would live together, what activities they would engage in, and how they would continue their lives in the future. This led to a variety of housing options, including duplex homes for an elderly mother and her adult son, small homes for young singles, and larger units for families spanning three generations.Unlike large apartment complexes that often repeat certain layouts for efficiency, Commons Jongam introduces 11 different housing types within its 130-unit project. Lee referred to this approach as diverse small-scale production.A notable example is the duplex home designed for the elderly mother and her son, which features a separate entrance on the upper floor to maintain privacy while allowing them to spend time together when desired.This duplex design can also accommodate other family configurations. For instance, a remote worker can use one floor as an office, while families with students can separate study areas from living spaces to minimize noise.Additionally, these duplex homes are arranged in a standalone format on the outskirts of the apartment complex, allowing direct access to individual entrances from outdoor walkways without the need for shared hallways or elevators. This design considers the lifestyles of older residents who have lived in single-family homes for many years.Lee noted that the floor plans created for specific members could also meet the needs of others. He mentioned that during a recent exhibition showcasing Commons Jongams housing types, visitors expressed interest in the unique layouts not typically found in existing apartments, indicating a desire for such lifestyles.Encouraging Community InteractionCommons Jongam is also designed to foster natural interactions among neighbors. Plans include a playground, shared kitchen, communal dining area, a local daycare, shared office space, and community gardens. The proximity of the playground and shared kitchen is intended to facilitate interactions between children at play and their caregivers.Shin Gi-soo, the public relations officer for Commons Jongam, remarked, Although apartments are communal living spaces, they often become isolated private areas. We aimed to preserve a sense of community. Shin emphasized that these facilities are not merely amenities to enhance the marketability of the apartments but are essential spaces for residents to coexist in a communal setting. He added that while existing apartments may have community facilities, Commons Jongam differentiates itself by considering spaces where residents can encounter each other in their daily lives from the design stage.Passive Construction and Wooden Apartments: Planning for LongevityCommons Jongam incorporates passive construction techniques and is set to feature the countrys first wooden apartments. The goal is to reduce long-term housing costs by enhancing insulation, airtightness, and ventilation performance through passive building technologies.External insulation will be applied to minimize heat loss, combined with airtight construction and ventilation systems to reduce energy consumption for heating and cooling while ensuring a comfortable indoor environment. Lee explained, We will apply passive construction methods, traditionally used in rural homes, to apartments by integrating various architectural technologies such as windows and ventilation. Commons Jongam will also adopt a wooden construction method for some units, using cross-laminated timber (CLT) in 18 of the 130 homes instead of reinforced concrete. Lee highlighted that wooden construction can significantly reduce carbon emissions during the building process. The project team is currently testing a prototype to verify fire resistance and sound insulation before actual construction begins.The journey to implement these new construction methods has not been without challenges. Lee noted difficulties in finding architects and contractors capable of handling the diverse layouts and specialized designs, as well as the complexities and costs associated with non-standard construction processes. Nevertheless, he stated, Considering that this is a home where residents will live for a lifetime, we made this decision by factoring in not only initial construction costs but also the heating, cooling, and maintenance expenses that residents will bear for decades to come. October 20, 2026 18
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Shinsegae Joins CJ Group in Bid for JoongAng Ilbo Acquisition Shinsegae has joined the bidding for the JoongAng Ilbo, following CJ Groups lead. This marks a collaborative effort by the broader Samsung family to acquire the newspaper founded by the late Lee Byung-chul, the founder of Samsung. CJ is highlighting synergies in media content, logistics, and advertising, while Shinsegae is focusing on integrating its premium cultural platform with lifestyle content, raising interest in the direction of business expansion post-acquisition. According to industry sources on October 20, Shinsegae will participate in the Daou Kiwoom-CJ consortium, which has been selected as the preferred bidder for acquiring management rights in JoongAng Ilbo. A Shinsegae representative stated, Shinsegae will jointly participate in the acquisition of JoongAng Ilbo with CJ, forming part of the CJ consortium. They added, We plan to create synergies by respecting JoongAng Ilbos unique identity and expertise while linking it with our premium cultural platform and lifestyle content. Shinsegae, which includes Shinsegae Department Store and duty-free shops (Shinsegae DF), is associated with Chairman Jeong Yu-kyung. As department stores evolve from mere retail spaces to experiential platforms combining exhibitions, performances, cultural content, food and beverage, and fashion and beauty, there are numerous opportunities to leverage JoongAng Ilbos content and brand. CJ also cited business synergies and the founding spirit of JoongAng Ilbo as reasons for its participation in the acquisition. A CJ Group spokesperson explained, CJ decided to participate jointly, considering the founding spirit of our late chairman Lee Byung-chul and the potential for synergies in media content, logistics, and advertising. We will proceed with specific matters through consortium discussions in the future. CJ is already a major shareholder of JoongAng Ilbo, holding 9.24% of its shares through its subsidiary CJ Olive Networks. The company is involved in broadcasting, video, music, and entertainment, and also operates an online video service (OTT). If JoongAng Ilbos news and digital content are integrated with CJs existing content business, it could broaden the scope of its media operations. The acquisition also carries symbolic significance as part of the broader Samsung family. JoongAng Ilbo was founded by Lee Byung-chul in 1965 but was separated from Samsung in 1999. CJ Group Chairman Lee Jae-hyun is the grandson of the founder, while Shinsegae Chairman Jeong Yu-kyung is his granddaughter. With both CJ and Shinsegae participating in the acquisition, it appears that the founders family is reuniting as investors. However, Shinsegae is reportedly participating as an equity investor rather than seeking management control. The final investment ratios, voting rights structure, and board composition among Daou Kiwoom, CJ, and Shinsegae have yet to be determined. The roles of each group and the extent of their management participation are expected to be clarified during the formal contract process. CJ has also emphasized the principle of editorial independence for JoongAng Ilbo. A CJ Group representative stated, We plan to prioritize editorial independence and contribute to the stable management and future competitiveness of JoongAng Ilbo. Internally, JoongAng Ilbo is demanding assurances regarding editorial independence, employment continuity, recruitment of reporting staff, and future investment plans from the new major shareholder, indicating that ensuring the independence of the media outlet will be a challenge in the pursuit of business synergies. October 20, 2026 13