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Coupang seeks to air NBA games exclusively

Coupang's logistics center in Jecheon, North Chungcheong Province. / Korea times file By Kim Jae-heunThe country's largest e-commerce firm Coupang is said to be talking with the National Basketball Association (NBA) and Major League Baseball (MLB) to secure exclusive rights to air their games in Korea.Coupang has yet to provide any over-the-top (OTT) services. However, it is preparing to launch a platform next year. Coupang officials said the company is not in a position to comment on client-related issues. Amid the competitive local OTT market, Coupang has been exploring the possibilities of offering original content or broadcasting popular sports games live. In July, Coupang acquired Singaporean OTT service “HOOQ,” which was once one of the top three players in the Southeast Asian market. And the company recently applied for trademark rights for OTT platform names such as “Coupang Streaming” and “Coupang Play,” while registering a business for streaming music and

Dec 4, 2020By Kim Jae-heun
Coupang seeks to air NBA games exclusively
Companies

Popeyes to exit Korea

Customers eat sandwiches at a Popeyes restaurant in Seoul in this 2013 file photo. / Korea times fileBy Kim Jae-heunAmerican fried chicken restaurant chain Popeyes is closing down its operations in Korea after failing to find a buyer, the food operator said Friday.TS Food & System, a subsidiary of TS Corporation that operates Popeyes in Korea, confirmed that it will terminate the licensing contract it signed with the American headquarters within this month. Popeyes opened its first restaurant in the posh district of Apgujeong in Seoul, in 1994. By riding on the popularity of its Cajun fries, the chicken restaurant chain operator expanded its business across the country, operating over 200 branches at its heyday. However, hit by the flurry of new entrants to the market which offer products comparable to Popeyes from various points such as taste, in addition to affordable prices, the chain saw a decline in sales. The number of outlets decreased to 10 by last year.In 2019, TS Food & System's sales were 12.4 billion won and it reported a 1.2 billion won operating loss throughout

Dec 4, 2020By Kim Jae-heun
Popeyes to exit Korea
Companies

Tiffany opens brand store in Kakao e-commerce

Tiffany & Co opens brand store on Kakao platform / Courtesy of KakaoBy Kim Jae-heunAmerican luxury jewelry firm Tiffany & Co. (Tiffany) opened its very first official brand store here through Kakao's e-commerce platform, Thursday. This is a significant win for Kakao as it will be the only shopping mall selling Tiffany products online.The IT giant, which operates the nation's most popular mobile instant messaging application Kakao Talk, has been strengthening its e-commerce sector by opening in-app stores for several luxury brands.Tiffany said it decided to sell its luxury items on Kakao to help it reach younger customers and those living far away from Tiffany stores.Kakao added that in the past people only purchased daily necessities online. But shopping trends have changed and now people are increasingly comfortable buying luxury goods via digital platforms, which is why Kakao is looking to open more stores for luxury brands.“Our e-commerce business is becoming popular thanks to our gift sending function that allows people to send birthday presents on Kakao Talk,&rdquo

Dec 4, 2020By Kim Jae-heun
Tiffany opens brand store in Kakao e-commerce
Companies

Coupang late to remove controversial products

Coupang's open market sells Japanese kamikaze headband online / Yonhap By Kim Jae-heunCoupang, Korea's largest e-commerce firm, has again come under criticism for allowing the sale of controversial products on its platform. Most recently, a headband with the Japanese word “kamikaze” emblazoned across it drew the public's ire. Kamikaze refers to Japanese military aviators who flew suicide attacks against the allied nations during World War II.Apple Pie, the seller, listed the item as “Japanese flag cotton headband” and included the words “kamikaze” in English and “suicide” in Korean in the product name listing. In the product description, the seller wrote “this is a spiritual item used in Japan for mental concentration and improvement of discipline, which is a must-have item for test takers.”The online listing went viral as did the outpouring of criticism from the public towards Coupang for allowing the sale of the item.“Coupang should have screened out such a produc

Dec 4, 2020By Kim Jae-heun
Coupang late to remove controversial products
Companies

Chung reaffirms bond between Shinsegae and Starbucks Korea

By Kim Jae-heunVice Chairman of Shinsegae Group Chung Yong-jin reaffirmed the close relationship between his company and Starbucks Korea in a recent appearance on their YouTube channel.Chung, who has recently been active on social media with his popular Instagram account, agreed to appear on the channel to talk about his memories of bringing the American coffeehouse chain to Korea in 1999. “When Starbucks was first introduced, people were shocked by how you have to go order a coffee yourself and pay for it first,” Chung said. “As a first fan of Starbucks Korea, I feel great pride in the company that is much appreciated for always offering new paradigms in the coffee industry, and celebrating its 21st anniversary.”He also talked about his four favorite beverages at Starbucks while revealing his nickname “YJ” that he uses to order drinks on his mobile phone.Starbucks Korea is a joint venture launched by Shinsegae Group and Starbucks's headquarters in Seattle with each owning a 50 percent share. Starbucks Korea is currently affiliated by proxy with E-

Dec 3, 2020By Kim Jae-heun
Chung reaffirms bond between Shinsegae and Starbucks Korea
  • Starbucks helps Shinsegae boost online business
Companies

Netmarble to promote good effects of gaming

A poster for the Game in Life contest hosted by the Netmarble Cultural Foundation. / Courtesy of NetmarbleBy Kim Jae-heunLocal mobile game developer and publisher Netmarble is undertaking a series of social contribution projects focusing on spreading a healthy game culture and seeking mutual growth with the community. One event was organized by the Netmarble Cultural Foundation with the aim of celebrating the company's 20th anniversary. The “Game in Life” contest, which was held for the first time this year, gave people an opportunity to share their positive experiences with games.The contest collects people's personal stories in various forms such as in writing, on video or through photography, and aims to show society the many positive values a game can have on a person in their life. Three hundred entries were submitted and 37 won awards. The grand prize went to Kim Jung-bum, who created “BGM of My Life.”The Netmarble Cultural Foundation also holds an open forum called “Game Concert” with a different theme every year. Experts and industry people

Dec 2, 2020By Kim Jae-heun
Netmarble to promote good effects of gaming
Companies

Starbucks helps Shinsegae boost online business

SSG.com's website introduces its exclusive Starbucks store on its platform that opened on Nov. 225. / Courtesy of SSG.comBy Kim Jae-heunStarbucks Korea, which manages a joint venture with local retail giant Shinsegae, is helping its business partner improve its online business performance by opening an exclusive Starbucks store at the latter's outlets. SSG.com, an e-commerce unit of Shinsegae, saw a 10-percent increase in overnight delivery orders and a 20-percent boost in sales one week after it started selling merchandise from the American coffeehouse chain, Nov. 25Starbucks' limited edition “Green Stojo Silicon Cold Cup,” of which only 5,000 were available exclusively on SSG.com, sold out five minutes after going on sale.The silicon cold-cup is a globally popular product that Starbucks launched in collaboration with the eco-friendly tumbler maker Stojo, and when SSG.com said it would introduce the item for the first time here, customers flocked to buy it upon the opening of its sale.This helped SSG.com attract an 80 percent increase in first-time customers using its ov

Dec 2, 2020By Kim Jae-heun
Starbucks helps Shinsegae boost online business
  • Chung reaffirms bond between Shinsegae and Starbucks Korea
Companies

KITA hosts conference on global trade environment for 2021

Trade Minister Yoo Myung-hee gives a congratulatory speech for KITA's international conference on “Prospects and Challenges for 2021 Global Trade Environment,” held in Seoul, on Nov. 30 and Dec. 1. / YonhapBy Kim Jae-heunThe Korea International Trade Association (KITA) held an online conference on “Prospects and Challenges for 2021 Global Trade Environment” on Monday and Tuesday. The event was divided into two parts ― an EU session on the first day and a U.S. session on the second.Five panelists including Ignacio Garcia Bercero, a director from the European Commission's DG Trade, and Alan Winters, a professor at the University of Sussex, who participated in the very first conference talking about challenges to the rule-based international trade order and EU trade policy. KITA Chairman Kim Young-ju expressed his concerns over possible trade conflicts next year as countries adopt their own policies on digital services and environmental issues. “We should make our best effort to minimize the conflict and friction through the establishment and cooperation of

Dec 1, 2020By Kim Jae-heun
KITA hosts conference on global trade environment for 2021
Companies

KRCC to expand agricultural development business in overseas

An aerial view of a dam construction in Oromia, Ethiopia / Courtesy of the Korea Rural Community CorporationBy Kim Jae-heunThe Korea Rural Community Corporation (KRCC) has achieved significant results overseas this year after successfully signing two agricultural development agreements in Malawi and Ethiopia. According to the corporation, the size of the project to develop a farming system in Malawi is equivalent to 3.4 percent of the country's gross domestic product for a year.The other project in Ethiopia provides consultation and supervision on the construction of an underground water irrigation and agricultural system there worth 130 billion won. The KRCC's overseas business began in 1967 when it dispatched a Korean agricultural mission to Vietnam and participated in a pilot project to develop an agricultural system in the Go Cong District. As of last year, the corporation had won bids for 185 projects in 49 countries, making about 340.3 billion won. This year it is working to sign 40 deals in 19 countries. Most of the projects the KRCC has developed were concentrated in Southeas

Dec 1, 2020By Kim Jae-heun
KRCC to expand agricultural development business in overseas
Companies

Shinsegae seeks local retail paradigm shift with 'drama commerce'

Vice Chairman of Shinsegae Group Chung Yong-jin / Courtesy of Shinsegae GroupBy Kim Jae-heunVice Chairman of Shinsegae Group Chung Yong-jin will introduce a new paradigm in retailing here by combining TV shows and online shopping; a concept he calls “drama commerce.”This brings the shopping experience to another level where people can purchase products while watching dramatic content on their mobile phone.TV commercials are nothing new but Shinsegae's drama commerce will deliver TV shows that place the featured products squarely before any kind of storyline.“The idea is to break down the barrier between the shopping and television content markets. People don't have to feel like they have to buy something while watching our series. They can just enjoy the show and if they find something they like, then they can purchase it,” a Shinsegae official said. “Our rival is Netflix. What is important is how we are going to hold our customers online on our platform.” In preparation of its conversion plan, Shinsegae has been acquiring and establishing content

Nov 30, 2020By Kim Jae-heun
Shinsegae seeks local retail paradigm shift with 'drama commerce'
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