Foreign Card Sales Surge in South Korea, Concentrated Among Top Retailers
As the number of foreign visitors to South Korea rises, the country's foreign card sales are rapidly increasing. However, a significant portion of this spending is concentrated in specific sectors, such as dermatology and Olive Young, indicating that the benefits of foreign consumer spending are not evenly distributed across traditional markets and local businesses. On August 24, Korea Credit Data (KCD) analyzed approximately 328,000 merchants linked to Cashnote with foreign card payment histo
U.S. Warns of Economic Day of Reckoning for Iran Amid Tensions
Amid stalled negotiations over the Strait of Hormuz, the United States has announced an unprecedented economic and financial offensive against Iran. U.S. Treasury Secretary Scott Besant warned of an 'economic D-Day' aimed at fully isolating Iran's economy, stating that countries providing financial, oil, or transportation support to Iran will face significant economic consequences. In response, Iran has threatened to consider any nation that joins or supports the U.S. economic war as engaging in
Kim Se-hoon: Two Months into His Tenure as Hwacheon County Mayor
Kim Se-hoon has been in office as the mayor of Hwacheon County for nearly two months. Although this is a short period, his actions have been swift. He has been busy with meetings, events, visits to central government offices, and inspections of project sites, while also making time to meet with residents. His social media account, 'Government Diary,' is filled with daily schedules. According to those around him, this is not the entirety of his agenda. He reportedly tries to meet with residents a
Cosmax and Hyundai Home Shopping Form 'Beauty Alliance' to Target Personalized Beauty Market
Global cosmetics manufacturer Cosmax is partnering with Hyundai Home Shopping to develop personalized beauty products.On August 24, Cosmax announced that it has signed a memorandum of understanding (MOU) with Hyundai Home Shopping for the joint development of customized beauty products. The signing ceremony, held on August 20 at Hyundai Home Shopping's headquarters in Gangdong-gu, Seoul, was attended by key officials from both companies, including Cosmax CEO Lee Byeong-joo and Hyundai Home Shopp
Hanmi Pharmaceutical Signs Exclusive License Agreement with Genentech for Obesity Drug
Hanmi Pharmaceutical has signed an exclusive license agreement with Genentech, a subsidiary of Roche Group, for its innovative drug candidate HM17321 (a UCN2 analog). The deal, valued at up to approximately $2.3 billion (about 3.2 trillion won), is expected to accelerate Hanmi's entry into the global obesity treatment market.On August 24, Hanmi Pharmaceutical announced the exclusive licensing agreement for HM17321, aimed at treating metabolic diseases such as obesity, type 2 diabetes, and cardio
Short Selling Rises Amid Stock Price Surge, Investors Divided
Recent data shows that short selling balances have increased for certain stocks that have seen significant price surges. Despite rising stock prices, the expansion of short positions indicates that investors are anticipating future declines, complicating their calculations regarding these rapidly increasing stocks.According to the Korea Exchange, as of August 19, the most recent tally, the net short selling balances for some stocks that experienced price increases compared to the end of last mon
Kangjin Beer Festival to Offer Individual Ticket Sales on Thursday and Friday
The Kangjin County government will sell individual tickets for some reserved seats at the '4th Kangjin Beer Festival,' taking place from August 27 to 29 at the Kangjin Sports Complex. According to the county on August 24, this on-site sale is designed for visitors who find the six-person table reservations burdensome or missed the advance booking period. Remaining reserved seats for Thursday and Friday will be available for small groups or individual visitors. The price for the 'Beer Special S
HD Korea Shipbuilding Secures $515 Million Contract for Four LPG Carriers
HD Korea Shipbuilding, a mid-holding company of HD Hyundai, announced on August 24 that it has signed a contract with a shipping company based in Oceania for the construction of four liquefied petroleum gas (LPG) carriers. The contract is valued at 515.4 billion won, which represents 2.93% of its recent revenue.The LPG carriers will be built by HD Hyundai Heavy Industries and are scheduled for delivery by the first half of 2030.Including this latest order, HD Korea Shipbuilding has secured a tot
Gimhae Buncheong Ceramics Festival Moves to Jangyu After 30 Years
The 31st Gimhae Buncheong Ceramics Festival, a representative pottery culture festival of Gimhae, will be held from November 6 to 10 at Jangyu Lotte Garden Park. This marks the first time in 30 years that the festival, traditionally held in Jinrye-myeon, will take place outside its original location.The city of Gimhae aims to expand the festival space to Jangyu, which is more accessible for residents. However, the decision to relocate after 30 years was significantly influenced by safety concern
Aekyung Industry Ends Lunch Hour PC Use to Promote Carbon Reduction
Aekyung Industry launched an employee-driven energy conservation campaign on August 22, coinciding with 'Energy Day.' The initiative encourages employees to completely shut down their computers during lunch breaks instead of simply locking the screens, aiming to reduce carbon emissions through small daily actions. The company announced on August 24 that it conducted a five-day energy-saving practice week from August 10 to 14, featuring the 'Briefly OFF, Earth ON' activity. This initiative is par