Kim Min-seok Pays Respects at Kim Dae-jung's Grave, Draws Parallels with Lee Jae-myung
Kim Min-seok, the new leader of the Democratic Party of Korea, paid his respects on August 18 at the grave of his political mentor, the late President Kim Dae-jung. He noted that there are many similarities between Kim Dae-jung and President Lee Jae-myung.On this day, Kim was accompanied by the new leadership team, including Chief Policy Officer Choi Min-hee and Floor Leader Han Byeong-do, as they visited the National Cemetery in Dongjak-gu, Seoul, to honor Kim Dae-jung on the 17th anniversary o
Lotte Biologics Accelerates Preparations for Commercial Production in Songdo
Lotte Biologics has completed the relocation of all employees to the Songdo Bio Campus and is accelerating preparations for commercial production set to begin in 2027.On August 18, the company announced the official start of the 'Songdo Era' following the completion of the move. This relocation consolidates the previously dispersed headquarters functions and production infrastructure into the Songdo Bio Campus. As a result, collaboration among key departments, including management, production, q
China Expands Arctic Shipping Routes, Launches Regular Services This Year
China is accelerating the development of its Arctic shipping routes.This summer, 38 Chinese container ships departed from Chinese ports to utilize the Arctic route, heading towards Russia or Northern Europe, according to the South China Morning Post on August 18. Half of these vessels are expected to return to China via the Arctic route.Last year, 23 Chinese ships passed through the Arctic route, with 17 being commercial vessels. In 2024, 15 ships traversed the Arctic route.Additionally, Chinese
Counterfeit Cosmetics Flooding Social Media, Methanol Levels 484 Times Higher Than Safety Standards
Recently, counterfeit cosmetics imitating famous international brands have been circulating at low prices on social media platforms. Some of these counterfeit perfumes have been found to contain methanol levels up to 484 times higher than safety standards.The Korea Consumer Agency reported on August 14 that an investigation into 34 counterfeit cosmetics seized by the Chungnam Provincial Police revealed that 11 products contained harmful substances, including methanol and lead, exceeding safety l
Starbucks Korea Reports $14 Million Operating Loss in Q2, Revenue Drops 6.1%
SCK Company, which operates Starbucks Korea, reported an operating loss in the second quarter of this year. Following consumer backlash over the 'Tank Day' marketing controversy in May, the absence of its summer promotion, 'Summer e-Frequency,' appears to have impacted its performance.According to a report released by E-Mart on August 13, SCK Company recorded an operating loss of 18.4 billion won ($14 million) in Q2, a significant decline from an operating profit of 40.3 billion won during the s
First 'Gimgane' Location Closes Amid Rising Costs in Kimbap Market
On August 13, a visit to a snack bar in Seoul revealed that while the sign prominently displayed the word 'kimbap,' the dish was no longer on the menu. The establishment stopped selling kimbap this year, removing its dedicated preparation table and reducing kitchen staff by one. Currently, the restaurant only offers Korean dishes such as ramen, fried rice, tteokbokki, and stews. The owner, identified as A, stated, "Considering the costs of ingredients and labor, selling kimbap was no longer prof
Homeplus Reopens 67 Stores on August 13, Focuses on Customer Recovery
Homeplus is set to reopen 67 stores on August 13, marking a significant step in its efforts to regain customers after a temporary closure. Following a soft launch on August 7 and the resumption of online deliveries, the company is accelerating its return to normal operations. The speed of sales recovery will be critical as the deadline for the approval of its rehabilitation plan approaches on September 4.According to the retail industry on August 12, Homeplus will resume normal operations at the
TV Home Shopping Market Shrinks, Yet Major Companies Report Profit Growth
Amid a shrinking TV home shopping market due to viewer attrition and the rise of e-commerce, the second-quarter operating profits of four major home shopping companies have all increased. Analysts attribute this growth to a focus on high-margin products such as fashion, beauty, and health supplements, as well as a strengthened strategy in mobile live commerce and private brands (PB). According to industry reports, CJ OnStyle's second-quarter revenue rose 4.4% year-on-year to 402.8 billion won, w
Homeplus CEO Vows Full Recovery Amid Support from Lawmakers
"Homeplus has risen again with the support of the public. We will repay this with complete normalization and a new leap forward." Jo Joo-yeon, CEO of Homeplus, made this statement during a press conference and shopping campaign held on August 13 at the Homeplus Gangseo store in Seoul. He emphasized that both management and labor will concentrate all efforts for a sustainable future for Homeplus. However, he acknowledged that many challenges remain before achieving full operational normalizat
K-Food Becomes Essential for Foreign Tourists as Numbers Reach 10 Million
“I always buy ramen and seaweed when I come to Korea. This time, I also bought several snacks that my friends asked for,” said Satomi, a 34-year-old tourist from Japan, as she filled her shopping basket at Lotte Mart's Zeta Plex location near Seoul Station on August 11. “I stopped here because it’s the last place I can shop for various items before heading to the airport,” she added, noting she was looking for gifts for her colleagues back home.The presence of K-Food is i