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Kwak Yeon-soo

Korea Times Digital Content Reporter

Kwak Yeon-soo is a digital editor at The Korea Times creating, editing and curating digital content for the newspaper’s website, mobile app and social media. She previously covered a diverse array of cultural, political and business topics.

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Companies

Limited edition sneakers become money-making tool for millennials

People stand in a long queue to buy J.W Anderson X Converse limited edition sneakers at Lotte Department Store in Seoul, Dec. 9. / Courtesy of Lotte Department StoreBy Kwak Yeon-sooA growing number of Korean millennials are making a fortune by purchasing and reselling limited edition sneakers and luxury goods, according to industry officials Tuesday.According to the data from online thrift store thredUP, the resale market is projected to grow from 28 trillion won ($24 billion) in 2018 to 48 trillion won in 2020. “There has been a changing perception toward the resale market. People no longer regard it as thrift shopping, but view it as collecting scarce and limited edition goods,” a thredUP official said in a report.The data showed that purchasers look for luxury items, vintage living goods, art toys and rare shoes designed by popular hip-hop stars or in collaboration with trending artists. In particular, sneaker fans are willing to pay thousands of dollars for hard-to-find shoes and trade up quickly for the latest models. Rare or limited-edition collaboration designs can

Dec 22, 2019By Kwak Yeon-soo
Limited edition sneakers become money-making tool for millennials
Companies

Retail business groups go into emergency mode

By Kwak Yeon-sooLotte Group Chairman Shin Dong-binLotte, Shinsegae, CJ reshuffle executives, overhaul organizationsLotte, Shinsegae and CJ are shifting to emergency mode, carrying out executive reshuffles and setting detailed contingency plans in a pre-emptive move to brace for a prolonged business slowdown, according to industry officials Sunday.Their moves come as faltering profits of key affiliates are hitting companies' bottom lines amid the deepening economic downturn, officials said.Lotte Group, Korea's fifth-largest conglomerate, went into emergency mode in November in an attempt to seek a major breakthrough amid dwindling profits due to stiff competition with e-commerce platforms.Lotte Group Chairman Shin Dong-bin approved a slew of new CEOs, business unit heads and executives on Dec. 19, one of the largest senior official reshuffles in its history.Along with the shakeup in its top management, the group has reshuffled nearly 100 senior executives and presidents of more than 50 subsidiaries.In reorganizing its units, retail subsidiaries including Lotte Department Store, Lotte

Dec 22, 2019By Kwak Yeon-soo
Retail business groups go into emergency mode
Companies

Football coach Park Hang-seo receives CheongKwanJang red ginseng

Vietnam's national football team Head Coach Park Hang-seo, center, with Vietnamese U-23 players Nguyen Quang Hai, left, and Ha Duc Chinh hold CheongKwanJang's Red Ginseng Extract Everytime products in Tongyeong, South Gyeongsang Province, Dec. 18. / Courtesy of KGCBy Kwak Yeon-sooKorea Ginseng Corp. (KGC) presented CheongKwanJang red ginseng products to Park Hang-seo, Vietnam's national football team head coach, and the Vietnamese men's senior and under 23 (U-23) football team, the company said Sunday.The ginseng product maker said it had decided to provide CheongKwanJang Extract Everytime ― a six-year-old Korean red ginseng extract that comes in a portable pouch ― to the team during its visit to Korea.Earlier this month, Vietnam won its first gold medal at the Southeast Asian (SEA) Gamers. Park then brought his team to Tongyeong, South Gyeongsang Province, for winter training here.“We thought it'd be great to express Korea's affinity with Vietnam as well as highlight Park's love for his team's players,” a KGC official said. Park's coaching style is often called &ldq

Dec 22, 2019By Kwak Yeon-soo
Football coach Park Hang-seo receives CheongKwanJang red ginseng
Companies

Lotte Mart's 50th store in Indonesia

Customers stand in a long queue in front of Lotte Mart's newly opened store in Tegal, Indonesia, Dec. 19. Lotte Mart said it was its 50th store in the Southeast Asian country, and plans to open 50 additional stores by 2023. The discount chain entered the Indonesian market in December 2008. / Courtesy of Lotte Mart

Dec 22, 2019By Kwak Yeon-soo
Lotte Mart's 50th store in Indonesia
Companies

SK Holdings partners with AstraZeneca to boost pharmaceutical biz

SK Holdings CEO Jang Dong-hyun, left, shakes hands with AstraZeneca Chairman Leif Johansson after reaffirming his company's commitment to the companies' strategic partnership at the company's headquarters in Seoul, Thursday. Courtesy of SK HoldingsBy Kwak Yeon-sooSK Holdings has reaffirmed its commitment to its strategic partnership with the British-Swedish pharmaceutical company AstraZeneca, as part of its big push to grow biotech and pharmaceutical sectors as future growth engines, the company said Thursday.AstraZeneca is the world's 11th-largest pharmaceutical company that focuses on developing treatments related to cardiovascular, gastrointestinal and respiratory disorders. It recorded $22.1 billion in sales in 2018.SK Biotek, a subsidiary wholly owned by SK Holdings, has partnered with AstraZeneca since 2018, a year after it acquired Bristol-Myers Squibb's Swords manufacturing facility in Ireland. Since then, AstraZeneca has been producing diabetes treatments Forxiga and Onglyza, which are provided to patients in 98 countries.It produces treatments for some 3 million diabetic pa

Dec 19, 2019By Kwak Yeon-soo
SK Holdings partners with AstraZeneca to boost pharmaceutical biz
Companies

Tapping into Vietnamese energy market

Hanwha Energy CEO Jung In-sub, center, poses with Korea Southern Power President Shin Jung-shik, left, and Korea Gas Corporation CEO Chae Hee-bong at The Plaza Hotel, Thursday, after signing a joint agreement to collaborate on the gas plant and LNG terminal businesses in Vietnam. Hanwha Energy said it will take on the role of managing the overall business development and supplying LNG in the Vietnamese energy market. / Courtesy of Hanwha Energy

Dec 19, 2019By Kwak Yeon-soo
Tapping into Vietnamese energy market
Companies

Hyundai Mobis to promote new autonomous mobility concept at CES

Hyundai Mobis' M.Vision S fully autonomous driving concept car. / Courtesy of Hyundai MobisBy Kwak Yeon-sooHyundai Mobis will showcase a slew of new technologies suited for future mobility at next month's Consumer Electronics Show (CES), the company said Thursday.The auto parts maker said it will unveil the M.Vision S, a fully autonomous driving concept car, and a fuel-cell system for hydrogen-powered cars at CES 2020, which will be held in Las Vegas for four days starting Jan. 7. It will be the company's fifth consecutive year at the CES.The M.Vision S integrates autonomous driving sensors like cameras, radar and the light detection and ranging (LiDAR) system, communication lighting, virtual space touch and 3D rear lamp.Visitors to the Hyundai Mobis booth can experience the process of connecting future vehicle technology and people, according to the company. For instance, the front camera on the M.Vision S will capture images of visitors in real time and show them on a large display.The company will showcase camera and radar technology for autonomous driving and is planning to mass-

Dec 19, 2019By Kwak Yeon-soo
Hyundai Mobis to promote new autonomous mobility concept at CES
Companies

Salesman named 12th Grand Master dealer of Kia Motors

Jeong Seong-man, a car dealer at Kia Motors, after winning the Grand Master award at BEAT360 in Seoul, Wednesday. Courtesy of Kia MotorsBy Kwak Yeon-sooJeong Seong-man, a car dealer at Kia Motors, has been named the 12th Grand Master of Kia Motors for selling over 4,000 vehicles since he joined the company in 1999. Grand Master is Kia's recognition program for dealers who sell more than 4,000 vehicles. The automaker measures many important factors including sales excellence, customer service satisfaction, after sales and delivery to assess the quality of a dealership.Jeong, who works at Kia Motors' Ulsan branch in South Gyeongsang Province, sold 4,000 vehicles in 20 years and 7 months. This is equivalent to selling 190 cars a year, according to Kia.“Jeong set a record of winning Grand Master in the shortest period of time compared with other winners,” a Kia Motors official said. At the ceremony at BEAT360 in Seoul, Wednesday, Jeong expressed gratitude to his customers and the company.“I have dedicated myself to providing better service and building trust with custom

Dec 19, 2019By Kwak Yeon-soo
Salesman named 12th Grand Master dealer of Kia Motors
Companies

Hyundai, Kia use VR tech to perfect car design

In this photo provided by Hyundai Motor Group, the company's designers and engineers display how the new VR design evaluation system is used to assess design quality of the all-new Sonata. / Courtesy of Hyundai Motor GroupBy Kwak Yeon-sooHyundai Motor Group unveiled a new virtual reality (VR) design evaluation system to respond promptly to the rapidly changing mobility landscape, the company said Wednesday.The automaker's new VR design evaluation system improves design quality and efficiency, the automaker said. It enables 20 individuals to simultaneously participate in design development, including design quality assessments and verification processes.VR headsets allow vehicle designers and engineers to virtually enter developmental simulations, with 36 motion tracking sensors detecting and tracking the locations and movement of all users.VR design quality verification processes can accelerate developing safety technologies, as engineers can virtually test vehicles in a variety of simulated environments like highways, urban roadways, hills, tunnels, and low-light conditions.Hyundai

Dec 18, 2019By Kwak Yeon-soo
Hyundai, Kia use VR tech to perfect car design
Companies

Buy gold bars online

Models pose with gold bars at the Korea Post headquarters in Seoul, Wednesday. Korea Post said it has started selling mini gold bars online. Prices range from 137,220 won ($117) to 501,980 won. Yonhap

Dec 18, 2019By Kwak Yeon-soo
Buy gold bars online
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