As the travel landscape undergoes profound transformations postpandemic, the golden era of traditional, large-scale travel agencies may be coming to an end. However, Hanatour, Korea's leading travel agency with more than three decades of experience, aims to defy the growing perception. Leveraging extensive tourism data both inbound and outbound, Hanatour CEO Song Mi-sun said the company is seeking ways to pioneer a new era of travel, defined by enhanced safety, efficiency and tailored trave

Industry May 6, 2024

진행자: 김혜연, Kevin Lee Selzer [KH Explains] No more 'Michael' at Kakao Games 기사 요약: 사내 영어이름 사용 대신 한글 본명에 '님' 호칭 도입한 카카오게임즈 Amid major reform push at Kakao, game developer affiliate moves to stop using English names in office *reform push 개혁 촉구 *affiliate 계열사 [1] Kakao Games has decided to scrap using English names among its employees, becoming the first Kakao affiliate to backtrack on the IT front-runner’s attempt to make a more bottom-up working environment with open c

Podcast May 6, 2024

진행자: 김혜연, Kevin Lee Selzer [Herald Interview] Mistakes turn into blessings in street performance, director says 기사 요약: 2024 궁중문화축전 연출 일부를 맡은 송재성 감독이 인터뷰에서 공개한 올 해 프로그램의 재미 [1] Where to draw the line separating the audience from actors in a street performance is tricky for any director. Some are wary of seeing the script derailed by indulging too much into on-the-spot impromptu interaction with spectators. *draw the line 한계를 정하다, 구분 짓다 *tricky 힘든 [까다로운], 교묘한 *indulging (특정한 욕구·관심 등을) 채우

Podcast May 2, 2024

Korean retail giant Shinsegae Group's e-commerce unit SSG.com faces mounting pressure from investors to recoup the 1 trillion won ($727 million) investment made between 2019 and 2022 amid its delayed market debut hit by lukewarm sales in recent years. According to industry sources on Tuesday, Shinsegae is in last-minute discussions with Affinity Equity Partners and BlueRun Ventures, the two private equity funds that are reportedly considering exercising a put option to sell back their stake

Industry April 30, 2024

During the bidding process among domestic low-cost carriers for the acquisition of Asiana Airlines' cargo division, Jeju Air, previously considered the front-runner, has chosen not to participate in the bidding. According to industry sources, the main bidding process, organized by financial services firm UBS for the sale of Asiana Airlines' cargo plane division on Thursday, saw the participation of three budget airlines: Eastar Jet, Air Premia and Air Incheon. Jeju Air did not submit a

Industry April 26, 2024

With the rising number of Korean restaurants abroad and the global appeal of Korean food, CJ CheilJedang's processed rice product is experiencing a surge in popularity across North America. CJ CheilJedang announced on Tuesday that sales of Bibigo Cooked Sticky White Rice amounted to 160 billion won ($116 million) last year in North America, marking a 21 percent increase from the previous year, and doubling the figures for 2021. Processed rice stands as one of CJ CheilJedang's seven key

Industry April 23, 2024

Posco Group announced Tuesday the completion of a manufacturing plant specifically designed to produce silicon battery materials, laying the groundwork for next-generation secondary battery materials venture. Its battery materials unit Posco Silicon Solution completed a silicon anode material plant in the Yeongil Bay industrial complex of Pohang, North Gyeongsang Province, on Friday. Silicon anode material is a next-generation alternative boasting four times the energy density of graphite anodes

Industry April 23, 2024

South Korea's food inflation spiked to 6.95 percent in February, the third-highest among member countries of the Organization for Economic Cooperation and Development. The OECD statistics for February announced Sunday reveal that Korea ranks third among 38 OECD member countries in terms of food and non-alcoholic beverage inflation, trailing only Turkey with 71.12 percent and Iceland with 7.52 percent. This marks the first time in over two years that Korea's food inflation has exceeded

Industry April 21, 2024

South Korean logistics company LX Pantos has opened a vast railway terminal in Tata, Hungary, with aims to bolster its competitive edge in European logistics. Situated approximately 65 kilometers southwest of Budapest, the LX Pantos Tata Terminal strategically positions itself near Europe’s largest battery production hub. Encompassing an area of around 36,000 square meters, equivalent to roughly five soccer fields, the terminal includes two dedicated rail tracks. The inauguration ceremony

Industry April 21, 2024

US e-commerce giant Amazon introduced free shipping benefits for Korean consumers as the firm strategically eyes the country's overseas direct purchase market amid the increasing competition in the e-commerce industry here. Starting Wednesday, Amazon has implemented a policy offering complimentary shipping for orders exceeding $49 worth of eligible items for delivery to South Korea, with the shipping address set within South Korea on its website. Eligible items include not only small essent

Industry April 18, 2024

SK Networks has chosen Affinity Equity Partners, a private equity fund headquartered in Hong Kong, as its preferred bidder for the sale of its ownership stake in SK Rent-a-Car, the nation's No. 2 rental car service company. SK Networks intends to divest all of its shares in an estimated deal worth some 850 billion won ($613 million). Both parties plan to conduct due diligence before finalizing the contract, SK Networks said in a regulatory filing Tuesday. Following the merger of AJ Rent-a

Industry April 17, 2024

Amidst increasing global awareness of corporate responsibilities across various sectors, South Korean fashion company ShinWon Corporation has been actively involved in extensive social initiatives at home and abroad. On International Women's Day in March, ShinWon's headquarters and its overseas subsidiaries organized various activities to commemorate advancements in women's rights and equality. In Vietnam, ShinWon's two production plants hosted a grand gala concert and a post

Industry April 16, 2024

A man in his 50s, suspected of trying to set fire to the UNESCO World Heritage-listed palace Changdeokgung, has been apprehended by law enforcement. On Tuesday, the Hyehwa Police Station reported it is investigating a man who is believed to have tried to set a fire at Changdeokgung in Jongno-gu, Seoul, on March 23 at approximately 6 p.m. Police are looking into the incident involving the man who purportedly attempted to ignite a fire using a lighter. According to local authorities, during the la

Culture April 9, 2024

Korea's leading travel agency Hanatour has been listed in the merger market with its ownership stake up for sale. Reports from the industry on Tuesday indicate that IMM Private Equity, Hanatour's largest shareholder, has recently commenced the selection process for a new stakeholder, which is anticipated to amount to up to 27.78 percent of the shares. Market sources predict that the sale price may reach around 300 billion won ($224 million), considering the management premium and mar

Industry April 9, 2024

CJ Foodville, the operator of bakery chain Tous Les Jours and a subsidiary of South Korean food giant CJ Group, achieved its highest-ever operating profit of 45.3 billion won ($33.6 million) last year. Some 60 percent of the profit stemmed from overseas ventures in key markets like the United States, Indonesia and Vietnam, showcasing the firm's commitment to advancing Korean-style baked goods worldwide. CJ Foodville announced its consolidated sales for 2023 on Wednesday, totaling 844.7 bill

Industry April 4, 2024