my timesThe Korea Times
jhkim

Kim Jae-heun

Korea Times Print Reporter

Go to Email

Read more

Sports

Kim to become next Park Hang-seo in Vietnamese boxing

Boxing coach Kim Sang-bum poses with a photo in his office at Cocky Buffalo gym in Ho Chi Minh, Vietnam, in March 20. / Courtesy of Kim Sang-bumBy Kim Jae-heunForty-nine year-old businessman Kim Sang-bum never thought he would become the manager of a boxer who is only one step away from becoming a world champion. However, in June, Vietnamese boxer and Asia Pacific champion Nguyen Thi Thu Nhi will have a world title shot in her homeland where over 50,000 spectators are expected to gather. Boxing is not a popular sport in Vietnam but Kim believes Nhi will create a boxing craze in the country if she wins.It has only been five years since Kim met Nhi during her professional debut. “Korean boxing champion Yuh Myung-woo hosted a pro match here in 2015 and I met Nhi then while helping Yuh. I instantly knew she was gifted,” said Kim during an interview with The Korea Times. “I wanted to sign a contract with her to train under me but she belonged to an amateur team already so I had to wait three years until she was free.”“She had bad eye sight and Yuh promised he

Mar 23, 2020By Kim Jae-heun
Kim to become next Park Hang-seo in Vietnamese boxing
Companies

Sales of luxury goods increase amid virus spread

People shop at Times Square in Yeongdeungpo-gu, western Seoul, in this 2018 file photo. / Korea Times fileBy Kim Jae-heunLotte Shopping CEO Kang Hee-taeThe new coronavirus situation here is not getting any better with more cases recorded over the weekend; but this has not stopped certain people from shopping for luxury goods. Last weekend, customers wearing face masks queued in front of almost every luxury brands outlet, including Louis Vuitton, Gucci and Cartier, at Times Square in the Yeongdeung District of western Seoul.A saleswoman said they were not allowing people in who weren't wearing face masks and everyone has to wash their hands in a sterilizing solution before entering the department store. She added that the virus had not affected sales, in fact, had become busier dealing with customers under strict guidelines due to the COVID-19 outbreak. People stopped going to most department stores for fear of contracting the virus, and some had to temporarily close after people infected with COVID-19 visited them, causing a 15 percent plunge in sales. However, this is not the case f

Mar 22, 2020By Kim Jae-heun
Sales of luxury goods increase amid virus spread
Companies

'Big three' retailers eyes on top position through M&A

By Kim Jae-heuneBay Korea CEO Byun Kwang-yunThe so-called “big three” retailers here ― Lotte Shopping, Shinsegae Group and Hyundai Department Store ― have been struggling to keep their customers who are rapidly moving to online platforms. There are several factors contributing to this with one of the biggest being the country's powerful information technology (IT) industry. The outbreak of COVID-19 in China last December which spread to Korea and saw people quarantining themselves at home accelerated the migration to online shopping causing huge falls in sales for the offline giants. The big three have launched online platforms, chasing e-commerce firms' expansionary plans for the limited market here. Korea's largest online retailer Coupang has been increasing the number of its warehouses, whose total area is equal to that of 193 soccer stadiums. An industry source said that none of the second, third and fourth largest players in the market can compete with this. To change this, the retail giants are seeking to acquire logistics companies and even one of the big e-commerc

Mar 22, 2020By Kim Jae-heun
Companies

Shin Dong-bin to lead Japanese Lotte Holding

By Kim Jae-heunLotte Group Chairman Shin Dong-binLotte Group said Thursday its chairman Shin Dong-bin has been appointed to lead its Japanese holdings firm. Shin's term will commence on April 1. Japan's Lotte Holdings was previously led by founder Shin Kyuk-ho, who died in January. The founder became honorary chairman in 2017 and the chairman position has been empty since his departure. Shin Dong-bin was serving as a CEO of Japan's Lotte Holdings until he was jailed in Korea for bribery in February 2018. He resigned from the CEO position but returned to his role in February last year.Lotte Group said Shin had Japanese executives' robust trust in him and that he has positioned himself as a dual chairman responsible for both the Korean and Japanese Lotte firms. This is also likely to boost Shin's plan for the listing of Hotel Lotte, which he has continuously been attempting to do to improve the group's governance system. “The firm will actively seek to create synergy between the two firms by strengthening collaboration and cooperation while pushing a global strategy together,&rdq

Mar 19, 2020By Kim Jae-heun
Shin Dong-bin to lead Japanese Lotte Holding
  • E-Mart will not request Ba1 rating withdrawal
Companies

E-Mart will not request Ba1 rating withdrawal

By Kim Jae-heunE-Mart CEO Lee Gap-suE-Mart will not request Moody's Investors Service withdraw its Ba1 corporate family rating (CFR). “We've not heard anything about E-Mart requesting us to withdraw their CFR and even if they did, we couldn't speak about it before a public disclosure,” a Moody's official said. An E-Mart official also said the company has no plan to request the credit rating's withdrawal. “We are not reviewing the option to raise objection to Moody's credit rating internally and we have no plan to do so in the future,” an E-mart official said.Last month, Moody's assigned a Ba1 CFR to E-Mart and withdrew its Baa3 issuer rating. It also maintained its negative outlook. A Ba1 rating is considered non-investment grade. Yoo Wan-hee, a Moody's Vice President and Senior Credit Officer, said the rating change was driven by a significant weakening in E-Mart's profitability and financial leverage last year. The credit officer added he predicts such factors will not improve in the next two years as E-Mart faces ongoing challenges in its main supermarket b

Mar 19, 2020By Kim Jae-heun
E-Mart will not request Ba1 rating withdrawal
  • Shin Dong-bin to lead Japanese Lotte Holding
Companies

Coupang's Nasdaq listing next year 'unlikely'

Coupang deliverymen pose for the picture before sending parcels from the distribution center in Seoul in this 2019 file photo. / Courtesy of CoupangBy Kim Jae-heunRumors circulated that the country's leading e-commerce operator Coupang will go public on the Nasdaq next year to raise funds as its accumulated deficit reached nearly 3 trillion won. Bloomberg also reported in January, citing an anonymous insider, that the e-commerce company has already begun revising its tax structure to prepare for its initial public offering (IPO). However, with the recent volatility of the American stock market, insiders here have doubts about Coupang's listing.“To be honest, I am not sure whether Coupang will go public or not. But one thing for sure is that the situation got worse compared to one or two years ago,” said a source in the online retailing company who asked to be cited anonymously. “The U.S. stock markets have plunged and if this trend goes on for a longer period of time, the public offering will not take place.” “Investors that invested in listed companies

Mar 18, 2020By Kim Jae-heun
Coupang's Nasdaq listing next year 'unlikely'
Companies

JTI to open internship program

JTI internship program poster / Courtesy of JTIBy Kim Jae-heunInternational tobacco and vaping company JTI will host a global internship program called “Make It Bright” to foster the talents of the next generation, said the Korean branch last week. The internship is organized by the tobacco firm's headquarters in Geneva, Switzerland, and it already began receiving applications from 33 countries around the world. JTI said it is looking for talented people with a creative and entrepreneurial mindset.JTI will receive applications until April 30 and applicants can register as individuals or as two-person teams on the website. The candidates of Make It Bright should be aged between 19 and 24, who are legally eligible to work in Korea. They also have to have less than two years of work experience and have business-level English skills. Most importantly, the applicants should have no reason to be disqualified for overseas travel. Details and additional specifics about the program are available on the Make It Bright official website at makeitbright.com or recruitment site Superoo

Mar 17, 2020By Kim Jae-heun
JTI to open internship program
Companies

Hankook Tire to strengthen premium tire market

Porsche's high-end sports vehicle model Cayenne uses Hankook tires in this file photo. / Courtesy of Hankook TireBy Kim Jae-heunHankook Tire & Technology Co. plans to strengthen its position in the tire market to satisfy customers amid intensifying competition, the company said on Tuesday. The market demands tires for safe and quiet driving, but at the same time, suitable for high-performance power trains. They also have to show quality grip force and brake performance while saving fuel to meet eco-friendly regulations. Hankook Tire has been consistently investing in research and development to ensure product quality and has formed a strategic partnership with 46 carmakers around the world where it supplies tires for 320 vehicle models. The company spends a lot of time on the development of one tire model; it takes an average of three years and the procedure involves three stages with five testing levels. First, it has to review the development of tire and make a sample product to test it. It also has to go through a test by carmakers to get confirmation for a supply deal.Second,

Mar 17, 2020By Kim Jae-heun
Hankook Tire to strengthen premium tire market
Companies

Lotte Shopping may postpone launch of combined online mall 'Lotte ON'

By Kim Jae-heunShin Dong-bin, Lotte Group ChairmanLotte Group Chairman Shin Dong-bin's much-anticipated business “Lotte ON,' a combined online shopping mall, may have its launch delayed due to the coronavirus outbreak spreading nationwide. The launch was originally scheduled for March 29.Lotte Shopping is considering setting a new date, officials said, Friday, noting that because the coronavirus outbreak has been labelled a global pandemic, it would be hard for the company to hold an opening ceremony and press conferences. “There can be small changes made to the schedule but the digitization concept will not be altered,” a company official said. “We are considering promoting and marketing our new business online as that will match the concept.”Even if the launch date is postponed, it will not be for too long as demand for daily necessities is still high, the official said. Lotte Shopping has identified Lotte ON as a new growth engine in its competition with e-commerce rivals such as Coupang and eBay Korea that have been sweeping the market to date. Chair

Mar 17, 2020By Kim Jae-heun
Lotte Shopping may postpone launch of combined online mall 'Lotte ON'
Companies

Coupang's agony deepens amid snowballing deficits

Coupang founder and CEO Kim Bom poses in this 2019 file photo. / Courtesy of CoupangBy Kim Jae-heunAs the novel coronavirus situation prolongs in and outside of the country, Korea's largest online retailer Coupang's woes are increasing.Despite the soaring number of customers shopping with Coupang, its business model is yet to yield a fair amount of return. To make the situation worse, its current best-selling items are those that create the lowest profit.Coupang has become the most highlighted retailer both on and offline after the outbreak of COVID-19 here.According to the retail business analyzing service WISEAPP/WISERETAIL, people spent 1.63 trillion won on Coupang last month, which is up by 190 billion won from January. It is the largest increase in a month among e-commerce firms. The increase in sales can be attributed to the virus situation here, as shoppers have increasingly been turning to online shopping instead of visiting supermarkets. The jump in online sales is likely to continue as the coronavirus is still spreading.However, the online retailer has not felt the benefit

Mar 17, 2020By Kim Jae-heun
Coupang's agony deepens amid snowballing deficits
previous page
129130131132133
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.