Single-Person Households Shift Consumer Trends with Smaller Packaging
In a convenience store in Yangcheon District, Seoul, 35-year-old office worker Lee Jong-hyuk fills his basket with a pack of refrigerated pork belly, portioned at 200 grams, along with a set of peeled garlic and leafy greens, and half a block of tofu. "I live alone, and buying in bulk at a large supermarket often leads to wasted ingredients that I can't finish," he said. "Buying just the right amount for dinner at the local convenience store is much more economical." The trend of smaller packa
Food Industry Restructures Online Distribution Channels
The food industry is restructuring its online distribution channels by shutting down self-operated online malls or consolidating fragmented channels. In the past, companies focused on growing their own online malls to reduce commission costs, but rising fixed costs and intense competition with large platforms have led to a shift towards a more efficient 'selection and concentration' strategy.According to industry sources, Daesang will terminate its business-to-business (B2B) online grocery mall
K-Food Experiences Target Foreign Tourists in South Korea
On a sweltering afternoon in Seoul's Myeongdong district, the first floor of Samyang Foods' headquarters buzzed with foreign tourists seeking respite from the heat. The 'Pepper Lounge,' adorned with the English logo of 'Buldak' and its mascot, welcomed visitors with a unique atmosphere. Inside, tables shaped like oversized Buldak products and comfortable sofas provided a perfect resting spot for tourists.One wall featured an exhibition showcasing Samyang's key ramen products, including Buldak Bo
National Palace Museum Hosts Program for Intangible Cultural Heritage Practitioners
The National Palace Museum of Korea announced on August 18 that it will host a program titled 'In-Depth Investigation of Royal Heritage in the Storage Room' for holders, educators, and graduates of the national intangible heritage in the craft sector on August 19 and 20 at its open storage facility in Jongno-gu, Seoul.'In-Depth Investigation of Royal Heritage in the Storage Room' is a program first introduced in 2025 to provide national intangible heritage practitioners with an opportunity to cl
Olive Young LA Fest Attracts 100,000 Visitors, Captivating American Consumers with K-Beauty
CJ Olive Young reported that its large-scale K-Beauty event in Los Angeles attracted 100,000 visitors over three days.The "Olive Young Fest LA 2026," held from August 14 to 16, drew a total of 100,000 attendees, the company announced on August 18.The event was held in conjunction with the K-Festival "KCON LA 2026." A total of 55 K-Beauty and lifestyle brands participated in the 1422-pyeong venue.Olive Young transformed the event space to resemble a major shopping district in Seoul. Visitors were
National AI Competition Narrows to Three Finalists: Upstage, SK Telecom, LG AI Research
The final competition for the AI Foundation Model (AI FM) project has narrowed to three finalists: Upstage, SK Telecom (SKT), and LG AI Research. Motif Technologies, which joined the competition through an additional call for proposals, did not pass the second evaluation stage.On August 18, the Ministry of Science and ICT (MSIT) and the National IT Industry Promotion Agency (NIPA) released the results of the second evaluation for the AI FM project. The evaluation revealed that Motif was eliminat
Korean Government Engages Brazilian Companies to Discuss Investment Challenges
The South Korean government met with Brazilian companies operating in the country to discuss challenges they face in their business operations and explore ways to enhance trade and investment between the two nations.The Ministry of Trade, Industry and Energy announced that Park Geun-oh, Director of Trade Agreement Policy, held a communication session on August 18 with representatives from nine Brazilian companies and the Brazilian ambassador to South Korea.This meeting follows President Lee Jae-
Eight of Ten Lottery Fund Projects Shifted to Public Interest Initiatives
The government is set to revise the lottery system for the first time since the introduction of the 'Lottery and Lottery Fund Act' in 2004. The changes will allow for differential distribution of lottery funds based on the performance of various agencies, as well as adjustments to the distribution ratio of lottery revenues.According to the Lottery Commission under the Ministry of Economy and Finance, the 'Partial Amendment to the Lottery and Lottery Fund Act' was approved at a Cabinet meeting on
Nvidia Provides $105 Billion Guarantee for OpenAI Data Center Financing
Nvidia, the world's leading AI semiconductor company, has agreed to provide nearly 105 billion dollars in financial guarantees for the construction of an OpenAI data center.According to Reuters and other sources, Nvidia will invest up to 105 billion dollars (approximately 150 trillion won) to guarantee the rent and electricity payments for the OpenAI data center being built in Pike County, Ohio.Nvidia will also invest 1.5 billion dollars in SB Energy, a subsidiary of Japan's SoftBank, which is r
Debt Adjustment Process Simplified by Credit Recovery Commission
Starting August 31, individuals applying for debt adjustment through the Credit Recovery Commission will no longer need to submit separate documentation for financial assets such as deposits, insurance, and stocks.The Credit Recovery Commission, along with the Korea Credit Information Service and the Financial Settlement Agency, announced on August 18 that they signed a memorandum of understanding on August 14 to introduce financial mydata to enhance user convenience in debt adjustment.Under thi