The Korea Times

Gov't to approve Coupang's logistics business registration

Coupang's delivery vehicle makes overnight delivery on a road in Seoul, Nov. 2. / Courtesy of CoupangBy Kim Jae-heunThe government is likely to approve Coupang's application to register a logistics business by the end of this year. “Every year we evaluate candidates based on whether or not they meet our requirements to start a courier business and Coupang is said to have passed all relevant standard and quality checks,” a Ministry of Land, Infrastructure, and Transport official said. “After proceeding with the remaining procedures, we will announce the list of successful applicants later this month.” The ministry is the authority in charge of issuing business licenses. Coupang had already earned a license in 2018 but withdrew from the business last year after finding it difficult to handle the surging demand for its logistics services both internally and externally. Together with the growth of the e-commerce company, it saw an instant soaring of demand for delivery services on its own platform.To better prepare for the logistics business, Coupang has invested

Dec 15, 2020By Kim Jae-heun

Gov't to approve Coupang's logistics business registration

Tech & Science

Disney to launch OTT service here next year

Disney Plus' corporate image. / Korea times file By Kim Jae-heunDisney's over-the-top (OTT) service Disney Plus is coming to Korea next year along with Hong Kong and some Eastern European countries, the U.S. entertainment giant said Saturday. This is expected to intensify the local video streaming service market because Apple also plans to introduce its OTT service here in 2021. It has not been revealed when Disney Plus will start its service, but an industry source said it would be sometime between January and June. It can either open its OTT service on its own or through internet protocol television (IPTV) in collaboration with one or two local mobile carriers as Netflix had done in the beginning. Another option is to launch an exclusive service with local streaming service players like Wavve, tving and Seezn, which could save investment and marketing costs for Disney.Apple is preparing its OTT business here too by recruiting career staff and adding Korean subtitl

Dec 14, 2020By Kim Jae-heun

Disney to launch OTT service here next year

Companies

Chanel Korea's union starts action against workplace sex offender

Chanel Korea's union members denounce the luxury firm for neglecting the sexual harassment scandal after they filed a complaint against the suspect to the Seoul Western District Prosecutor's Office in Seoul, last Thursday. / YonhapBy Kim Jae-heunChanel Korea's union has commenced legal action against a senior executive in his forties for sexually harassing more than a dozen Chanel employees.The union filed a suit with the Seoul Western District Prosecutor's Office Thursday, accusing the suspect of sexually harassing at least 15 employees within the last decade. The union also denounced the company for not dismissing the official even two months after the allegations came to light. “It has been two months since we have notified the company of this incident of sexual harassment and requested it to take action,” a union official said at a press conference in front of the prosecutor's office in reference to one of the victims. “However, the company is neglecting the issue which could cause secondary damage and has not taken instant measures to resolve the issue.”&

Dec 13, 2020By Kim Jae-heun

Chanel Korea's union starts action against workplace sex offender

Companies

Evolution of convenience stores

By Kim Jae-heunIt has not been that long since convenience stores were seen as a crucial part of people's everyday lives here. In the past, customers would mainly visit them to buy snacks or daily necessities late at night. The stores didn't offer a wide variety of items and those they did were mostly expensive, which later led many people to shop at discount stores insteadHowever, local convenience stores have evolved in many ways more recently. Offering private brand (PB) products such as instant noodles and lunch boxes started to give people a reason to return to shop for these. The CU chain introduced the exclusive HEYROO beverage lineup including GET coffees and ICED drinks. Companies also collaborated with local mobile carriers to offer discount on most products sold in their convenience stores ― this was a huge plus in attracting younger customers.Launching a home delivery service also made convenience stores indispensable in people's lives amid the growing popularity of secondhand item trading online.

Dec 11, 2020By Kim Jae-heun

Companies

E-mart to expand into premium LA market

By Kim Jae-heunThe country's largest retailer E-mart is planning to open a new premium facility offering groceries and restaurants in Los Angeles sometime next year, as part of its U.S.-focused business strategy.For this, E-mart plans to invest 83.7 billion won. “A specific date has yet to be decided but we are planning to open a store in Los Angeles where we will sell various Asian foods,” an E-mart official said.Specifically, E-mart said it will invest 49.2 billion won and 34.5 billion won in 2021 and 2022, respectively, to establish more supermarkets in the region. The new grocery brand, temporarily called “PK Market,” will be a six-story complex commercial facility at 712 South Olive Street in the downtown area. It will offer a grocery store and restaurants, allowing customers to dine and purchase food ingredients under one roof. PK Market is the first direct outlet that E-mart will launch in the United States. Up until now, it has only acquired local food company Good Food Holdings to operate a retail business there. In December 2018, E-mart spent $275 mi

Dec 10, 2020By Kim Jae-heun

Companies

Lotte ON makes breakthrough with online luxury shopping, home appliance sale

Lotte On's L.Boutique website / Screen captured from Lotte OnBy Kim Jae-heun For over half a year, Lotte Shopping's most-anticipated online mall Lotte On was not able to prove its competitiveness against major e-commerce firms like Coupang and eBay Korea. Lotte Shopping started its online business too late in April and it failed to offer any distinguishing services to make it stand out, leaving it outside of the top five in domestic e-commerce firm rankings. Lotte Shopping President and CEO Kang Hee-tae quickly established a taskforce to concentrate all its effort to find the company's future growth engine.Kang focused on home appliance and luxury goods, demand for which skyrocketed amid the COVID-19 pandemic that has forced people to stay at home. Looking at the sales of products in the two sectors, revenue from home appliances increased by 229.1 percent in November compared to May. Sales of luxury goods on Lotte On also improved by 107.6 percent in the same period, leading to an increase in Lotte Shopping's overall revenue.The launch of Lotte On's new independent luxury store onlin

Dec 10, 2020By Kim Jae-heun

Lotte ON makes breakthrough with online luxury shopping, home appliance sale

Companies

Firefighter of the year

S-OIL CEO Hussain Al-Qahtani, left, poses with Lee Sung-ha, recipient of an award at the 2020 Hero Firefighters Award Ceremony hosted at the refiner's headquarters in Mapo District, western Seoul, Wednesday. S-OIL and the Korea National Council for Social Welfare presented awards to eight firefighters in recognition of their sacrifices in saving the lives of others. / Courtesy of S-Oil

Dec 9, 2020By Kim Jae-heun

Companies

Carlyle set to take over CJ's bakery franchise

A Tous Les Jours employee hangs the Halal food certification it received from Majelis Ulama Indonesia at its store in Indonesia in this January file photo. / Courtesy of CJ FoodvilleBy Kim Jae-heunCarlyle Group is in final discussions with CJ over a planned acquisition of CJ's bakery franchise Tous Les Jours, to iron out differences over the valuation of the affiliate, according to a source at a U.S.-based investment bank, here, Wednesday.“CJ was asking Carlyle to pay 350 billion won including a management premium, while Carlyle has offered below 300 billion won citing the negative impact of the continued spread of COVID-19 on CJ,” the source said.“Carlyle has shown great interest in acquiring Tous Les Jours since it was put on the market. However, it looks like it will take some time to adjust the price since each side has a different one in mind,” he added. Regarding Carlyle's approach to Tous Les Jours, CJ officials said; “We can say, yes, talks are underway for the sale of Tous Les Jours. But we can't make any additional comment on the matter.”

Dec 9, 2020By Kim Jae-heun

Carlyle set to take over CJ's bakery franchise

Companies

Korean Air hit for raising ticket prices

The Korean Air building in Seosomun, central Seoul. / Korea Times fileBy Kim Jae-heunWhen the country's flagship carrier Korean Air said it would take over Asiana Airlines, people were concerned about ticket price hikes, as when they were rivals, it was not easy for one to raise prices.But immediately after the government gave permission for the deal, Korean Air announced it would charge extra for first row and emergency door seats, which have more legroom. “I did not expect the price hike for plane tickets to take place this fast,” said a regular Korean Air customer. “If Asiana Airlines had merged with another firm it would not have been so easy for Korean Air to raise its prices this easily. This is even before the official acquisition contract is signed. I am worried airfares will be raised even higher in the future.”Korean Air responded that the change in it prices was planned last year and had nothing to do with the acquisition of Asiana.Hanjin KAL Chairman Cho Won-tae even said during a meeting with the press last month, “There may be concerns abou

Dec 8, 2020By Kim Jae-heun

Korean Air hit for raising ticket prices

Companies

Aeromexico and Thai Airways ticket refunds up in the air

Aeromexico's plane flies in the sky / Korea times file CHANGES IN REDBy Kim Jae-heunCustomers here of Aeromexico and Thai Airways who booked flights prior to the COVID-19 pandemic that were then canceled, have yet to receive refunds. While the two national flag carriers have since filed for bankruptcy protection amid collapsing business conditions for airlines, arguments persist over whether it should be airlines or travel agencies shouldering the bill for refundsOne married couple made a reservation for a flight to Cancun with Aeromexico though a local travel agency. But when the coronavirus broke out they decided to cancel the trip and applied for a refund in March. Aeromexico has yet to respond. “The travel agency says Aeromexico is refusing to make the refund. I think the travel agency should pay us back first because they booked the tickets with the airline company beforehand,” the couple said in an interview with a local media outlet. Aeromexico's Seoul office

Dec 8, 2020By Kim Jae-heun

Kim Jae-heun

Read more

Gov't to approve Coupang's logistics business registration

Disney to launch OTT service here next year

Chanel Korea's union starts action against workplace sex offender

Evolution of convenience stores

E-mart to expand into premium LA market

Lotte ON makes breakthrough with online luxury shopping, home appliance sale

Firefighter of the year

Carlyle set to take over CJ's bakery franchise

Korean Air hit for raising ticket prices

Aeromexico and Thai Airways ticket refunds up in the air

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