Food companies see massive growth in wake of COVID-19

South Korean food companies scored massive sales growth in the wake of the COVID-19 pandemic, as the demands increased for products that can be consumed at homes, in both domestic and overseas markets. 　In the second quarter this year, CJ CheilJedang recorded an operating profit of 384.9 billion won, up 119.5 percent from the same time last year. The figure is the biggest quarterly figure recorded for the company. 　Its sales stood at 6.92 trillion won, increasing by 7.4 percent on-year, with t

Shinhan Alpha REIT to buy Twincity Namsan offices for W238.6b

Shinhan Alpha REIT rolled out plans to buy 37,600 square meters of office space in Twincity Namsan in central Seoul for 238.6 billion won ($201.6 million) from KB Asset Management, a filing showed Aug. 19. The property occupies 20 floors of the 30-story commercial building. Built in 2015 and located in Yongsan-gu, in the vicinity of Seoul Station, Twincity Namsan is composed of two buildings -- commercial and residential. The office segment is composed of 18 floors above ground and two baseme

Startups seek probe on in-app purchase system of Apple, Google

South Korean startups submitted an application on August 19 to authorities seeking an investigation on violations by Apple and Google customers regarding in-app purchases. 　According to an alliance of local application developers and startup firms, Apple has been forcing developers to use their specific in-app purchase system since 2011, through which the company takes around 30 percent commission from purchases by users. 　Google might apply an in-app purchase module and commission to every a

KB acquires Amazon-owned distribution facility in Edinburgh

Local brokerage firm KB Securities has acquired a distribution warehouse operated by US ecommerce giant Amazon in Edinburgh, Scotland for some 100 billion won ($84 million), according to news reports on August 18. 　In partnership with local investment firm LB Asset Management, the subsidiary of KB Financial Group created a fund for the acquisition earlier this year.  　KB acquired the facility by investing some 42 billion won in securities pegged to the facility and is expected to sell d

Festival delves into 'K-World music'

2020 ACC World Music Festival wraps up early, may go virtual

Shared space operator FastFive turns to small buildings for sustainable profits

Founder sees fresh opportunity in growing trend toward satellite offices in pandemic era

Singaporean antibody firm draws throngs of Korean investors

SK Holdings, Mirae Asset, HB, Kiwoom-Shinhan rush to invest in Hummingbird Bioscience

Pianist puts himself in Beethoven’s shoes

Kim Sun-wook talks about preparing for his upcoming all-Beethoven recitals by imagining what the composer may have heard

Protestant churches under siege in new COVID-19 storm

Unique church culture stressing community bonding, fervent worship services, lax government controls allowed churches to become hotbeds of transmissions, experts say

Naive ambition of Moon’s wind power project

Government’s massive job creation ambition through offshore wind farms may just be hot air

Does second coronavirus wave pose a greater risk?

The new wave of coronavirus infections in South Korea looks similar to what the country experienced earlier this year: The first peak in late February and early March was driven by chain transmissions among members of the religious sect the Shincheonji Church of Jesus in Daegu, while the infections that are spiking now are mainly linked to a Seoul-based church. 　 As of Wednesday at noon, 623 confirmed cases have been traced to the Sarang Jeil Church in Seongbuk-gu, Seoul, since the first case

Will shutting down comments section curb abuses online?

Portals ban comments on sports news after volleyball player’s death