Amorepacific Q3 earnings more than double on overseas sales

South Korean cosmetics giant Amorepacific said Thursday that its third-quarter operating profits nearly doubled, driven by strong overseas sales and improved operational efficiency in the domestic market. According to a regulatory filing, Amorepacific posted revenue of 1.07 trillion won ($775 million) and an operating profit of 75 billion won in the third quarter of 2024, up 11 percent and 160 percent, respectively, year-over-year. The company attributed this growth largely to its global rebal

CompaniesOct. 31, 2024

Financial watchdog puts brakes on Korea Zinc’s W2.5tr capital increase

Korea Zinc’s decision to execute a 2.5 trillion won ($1.8 billion) paid-in capital increase has come under the scrutiny of financial authorities. The country’s financial watchdog views there could be a possibility of unfair practice in a potential overlap in the period. “The Financial Supervisory Service will look into whether there had been any illegality in the execution of Korea Zinc’s tender offer and paid-increase,” Ham Yong-il, the deputy chair at the watchdog

MarketOct. 31, 2024

[Exclusive] MCM to open flagship store in Lotte’s metaverse next week

Luxury fashion and leather goods company MCM plans to launch its metaverse flagship store on a platform powered by Lotte Innovate as early as Nov. 7, joining global luxury brands tapping into the virtual world with a digital second life. MCM products can be purchased directly on the platform Caliverse once a market develops, according to sources with direct knowledge of the matter. “Initially, we will link users interested in buying to the official MCM website. We’ll see how that pan

Arts & DesignOct. 31, 2024

World Pansori Festival to celebrate unique vocal art form

The second annual World Pansori Festival will kick off at Namsangol Hanok Village in Seoul this weekend, showcasing a blend of traditional culture and modern musical innovation. Co-hosted by the World Pansori Association and Namsangol Hanok Village, the festival running from Friday to Sunday celebrates pansori, Korea’s expressive vocal art form of narrative singing of epic stories and folklore. The Main Concert will have live pansori beginning at 4 p.m. on Friday, followed by pansori buski

PerformanceOct. 31, 2024

[Today’s K-pop] Zerobaseone sets record in Japan with concert DVD

Zerobaseone claimed all three top spots on Oricon’s weekly video charts with its concert footage, said agency WakeOne Entertainment Thursday citing the Japanese tally. The band’s Blu-ray and DVD edition of its fan concert in Japan topped Oricon’s Weekly DVD, Bly-ray Disc and Music DVD/Blu-ray Disc rankings at the same time, a first for an international artist. The videos are of the nine members’ first such event held in March in Yokohama for which they put on stage 11 son

K-popOct. 31, 2024

Thai K-pop fans’ online protest against Hybe intensifies

K-pop fans in Thailand, one of the strongest K-pop fan bases globally, are protesting against Hybe following the leak of an internal document that reportedly contained unverified rumors about YG Entertainment's Blackpink and its Thai member, Lisa, as well as numerous other artists. The so-called “music industry report,” disclosed during a recent National Assembly audit in Seoul, allegedly criticized Blackpink’s achievements and suggested that Lisa’s success at the MTV Vid

K-popOct. 31, 2024

Lim Yunchan named artist in residence for 2025 TIMF

South Korean piano sensation Lim Yunchan, the youngest winner of the Van Cliburn International Piano Competition, has been named artist in residence for next year’s Tongyeong International Music Festival, one of South Korea's most celebrated music festivals which is held annually in Tongyeong, South Gyeongsang Province. The 20-year-old pianist, recently honored with the Gramophone Classical Music Awards prize in the piano category and named its young artist of the year, will join anot

CultureOct. 31, 2024

KTO names best public campgrounds of 2024

The Korea Tourism Organization unveiled a list of 20 top public campgrounds of 2024 to promote the excellence of the country’s public campsites and continue to develop sustainable camping cultures across the country. The public camping grounds were recommended by the provincial, city governments and public institutions and they were organized and evaluated in four categories -- family-friendly, pet-friendly, eco-friendly area and barrier-free. The campsites were assessed once again with th

TravelOct. 31, 2024

Samsung vows to boost AI chip sales after earnings miss

Samsung Electronics said Thursday it will focus on producing high-value chips and is ready to supply the cutting-edge AI chips high in demand after announcing disappointing quarterly earnings. The company also hinted it is making strides to supply its cutting-edge HBM3E chips to Nvidia, which controls some 80 percent of the world's AI chips, and said it aims to mass produce the next HBM4 in the second half of next year. “There was a delay in commercializing HBM3E chips, but we have ma

IndustryOct. 31, 2024

Seoul shares dip nearly 1.5% on tech, financial losses

South Korean stocks closed almost 1.5 percent lower Thursday as tech and financial shares sharply lost ground. The local currency was rising against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) lost 37.64 points, or 1.45 percent, to close at 2,556.15. Trading volume was a little slim at 396.7 million shares worth 10.7 trillion won ($7.75 billion), with winners slightly outnumbering losers 473 to 401. Overnight, Wall Street finished lower on the losses of chip companies,

MarketOct. 31, 2024

At UN, allies warn NK troops risk becoming 'cannon fodder'

South Korean and US envoys delivered a stark rebuke to Kim Jong-un’s regime in an unusually tense meeting at the UN Security Council on Wednesday, warning that North Korean soldiers deployed against Ukraine could "return in body bags." The sharp, intentionally undiplomatic rhetoric underscored the allies' deepening alarm over Pyongyang’s expanding military alliance with Moscow, which has escalated from arms transfers to the actual deployment of North Korean forces -- a

Foreign AffairsOct. 31, 2024

Opposition accuses Yoon of favoritism, election meddling

South Korea’s main opposition Democratic Party of Korea on Thursday accused President Yoon Suk Yeol of favoritism and unlawful interference in the 2022 by-election, disclosing a private call between Yoon and his former political consultant Myung Tae-kyun. The party claims the recording reveals Yoon’s involvement in election matters while serving as the incumbent president. In the May 2022 phone recording disclosed to media by the Democratic Party, Yoon, then the president-elect, told

PoliticsOct. 31, 2024

Twice to become first K-pop performer on Amazon Music Live

K-pop girl group Twice will become the first K-pop artist to perform on Amazon Music Live in the US. According to their agency, JYP Entertainment, Twice will take the stage on Amazon Music Live on Nov. 21 at 9 p.m., local time, with the performance later available on Amazon Prime Video and Twitch channels. Now in its third season, Amazon Music Live is an online streaming concert series that airs live right after the broadcast of games from the National Football League, one of the largest profess

PerformanceOct. 31, 2024

Le Sserafim to perform at 2024 MTV EMAs

Le Sserafim is set to take the stage at Europe's biggest music awards ceremony, MTV European Music Awards (EMAs), this year. The 2024 MTV EMAs take place in Manchester, UK, on Nov. 10. "There's no better feeling in the whole wide world than announcing Le Sserafim as a 2024 MTV EMA performer. See them take the stage on 10 November,” the EMAs announced on their official website on Wednesday. The ceremony, hosted by MTV Networks Europe, awards trophies to songs, music videos, a

K-popOct. 31, 2024

Posco International unveils new brand identity in global push

Posco International, the trading and energy arm of Posco Group, unveiled its first brand identity Thursday, presenting a new vision under the tagline, “We Find Answers Planet Wide.” The new identity reflects Posco International’s mission to seize the lead across diverse sectors, including steel, energy, food and emerging industries, while contributing to sustainable growth, CEO Lee Kye-in explained at the brand launch event, where he outlined the company’s ambitions for g

CompaniesOct. 31, 2024

Hyundai renews hydrogen vision with more advanced Initium SUV

Hyundai Motor on Monday introduced a concept version of Initium, a hydrogen fuel-cell sport utility vehicle, adding a new chapter to its 27-year commitment toward renewable energy solutions. “The new addition to the hydrogen-powered SUV lineup will debut next year,” said Chang Jae-hoon, president and CEO of Hyundai Motor, at a press conference at Hyundai Motor Studio in Goyang, Gyeonggi Province. “Moving beyond mobility, we have introduced our hydrogen value chain business, H

MobilityOct. 31, 2024

HDC reports clear progress in sustainable management

HDC Hyundai Development Company, a leading South Korean real estate developer, said Thursday it has recently seen progress in its ongoing efforts for sustainable growth. HDC recently received an “A” rating in environmental, social and governance management from the Korea ESG Standards Institute, the highest rating in the construction sector. This improvement marks a one-grade increase from the previous year. Key advancements in governance included appointing a female outside director

CompaniesOct. 31, 2024

Group cancels scattering leaflets in NK amid security risks

A South Korean activist group called off its plan to launch balloons carrying anti-Pyongyang leaflets to the North across the heavily fortified frontier on Thursday after facing local opposition and police prevention due to potential security risks to residents. Choi Sung-ryong, head of the Association of the Families of Those Abducted by North Korea, announced that the organization would cancel its decision to scatter propaganda leaflets in the North during a press conference held at the Nati

Social AffairsOct. 31, 2024

HD Hyundai Oilbank to launch rice lottery

HD Hyundai Oilbank, one of the nation’s top refiners, announced Thursday that its gas and charging stations will offer customers the chance to win instant rice made from freshly harvested grains. Starting Friday, customers who spend over 40,000 won ($29) at gas stations or more than 20,000 won at charging stations can enter a raffle. Only those with a Bonus Card -- a loyalty card that offers points and benefits -- are eligible. Winners will receive a bundle of three instant rice packs, mad

IndustryOct. 31, 2024

LG’s transparent OLED TV makes Time's best inventions list

The world’s first wireless and transparent OLED TV and a premium built-in appliance introduced by LG Electronics have been selected among the 200 best inventions of the year by Time magazine. The transparent OLED TV, dubbed LG Signature OLED T, was included in the consumer electronics criteria, according to industry sources on Thursday. “The TV’s always-on-display feature can display ever-changing artwork, or you can turn it off to simply look like a pane of glass,” the m

IndustryOct. 31, 2024