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☆ Inside the world of South Korean convenience stores — the global king of one-stop shops
▼ + stars: | 2024-07-19 | by ( Jessie Yeung | ) edition.cnn.com time to read: +9 min

In large South Korean cities like Seoul, convenience stores are on every corner, sometimes with multiple outlets from competing companies dotting the same street. Heo Ran/ReutersThere are a few things that set South Korean convenience stores apart. A quick search on YouTube, TikTok or Instagram shows an endless supply of videos about Korean convenience stores. Indeed, Korean convenience store companies have grown so successful they are even expanding overseas. But when she next returns to South Korea, she will “definitely” still visit a convenience store and hit record, she said.

Persons: ”, Chang Woo, ” Chang, Heo Ran, Chang, – they’re, Jiny, “, Emart24 –, Maeng Organizations: South Korea CNN, Korea Convenience Store, South, Kwangwoon University, Deloitte Korea, McKinsey, Companies, Deloitte, YouTube Locations: Seoul, South Korea, Japan, Taiwan, “, United States, Korea, London, Australia, “ Korea, Sydney, Southeast Asia, Vietnam, Malaysia

☆ South Korean court upholds ban on gay sex within armed forces
▼ + stars: | 2023-10-26 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +1 min

Participants wave a rainbow flag as they march on a street during the Korea Queer Culture Festival 2022 in central Seoul, South Korea, July 16, 2022. Under the country's military criminal act, members of the armed forces face up to two years in prison for same-sex relationships. The law has been referred to the court and upheld by it four times since 2002. In Thursday's five-to-four ruling, the court said allowing same-sex relations could undermine discipline within the military and harm its combat capabilities. South Korea has one of the world's largest active armies, with all able-bodied men between the ages of 18 and 28 required to serve between 18 and 21 months.

Persons: Heo, Activists, Boram Jang, Soo, hyang Choi, John Stonestreet Organizations: Korea Queer Culture, REUTERS, Rights, Amnesty, Thomson Locations: Korea, Seoul, South Korea, Rights SEOUL, East Asia

☆ S.Korea's accelerating inflation set to keep policy restrictive for longer
▼ + stars: | 2023-10-05 | by ( Jihoon Lee | ) www.reuters.com time to read: +2 min

Office workers pick up lunch boxes at a convenience store in Seoul, South Korea, June 24, 2022. REUTERS/ Heo Ran/File Photo Acquire Licensing RightsSEOUL, Oct 5 (Reuters) - South Korea's consumer inflation accelerated for a second month in September, above market expectations, official data showed on Thursday, supporting prospects of the central bank maintaining its restrictive policy for some time. Finance Minister Choo Kyung-ho said after the data release that inflation would likely stabilise again from October with seasonal factors easing. The central bank also said inflation, which was slightly higher in September than its projection, would still ease to around 3% by the end of the year. Broken down by sector, prices of petroleum products jumped 4.0% over the month, agricultural prices climbed 4.1%, while public utility prices added 5.3%.

Persons: Heo, Choo Kyung, Ahn Jae, Jihoon Lee, Ed Davies, Tom Hogue Organizations: REUTERS, Rights, Shinhan Securities, of Korea, Statistics, CPI, Thomson Locations: Seoul, South Korea, Rights SEOUL, Statistics Korea

☆ South Korea Sept consumer inflation accelerates for second month
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

Office workers pick up lunch boxes at a convenience store in Seoul, South Korea, June 24, 2022. REUTERS/ Heo Ran/File Photo Acquire Licensing RightsSEOUL, Oct 4 (Reuters) - South Korea's consumer inflation accelerated for a second month in September, outpacing market expectations, official data showed on Thursday. It was the second consecutive month the annual rate quickened, from a 25-month low of 2.3% in July, and marked the fastest annual rise in five months. Finance Minister Choo Kyung-ho said after the data release that inflation would likely stabilise again from October with seasonal factors easing. Broken down by sector, prices of petroleum products jumped 4.0% over the month, agricultural prices climbed 4.1%, while public utility prices added 5.3%.

Persons: Heo, Choo Kyung, Jihoon Lee, Ed Davies, Tom Hogue Organizations: REUTERS, Rights, Statistics, CPI, Bank of, Thomson Locations: Seoul, South Korea, Rights SEOUL, Statistics Korea, Bank of Korea's

☆ Rapidly aging South Korea prepares to open door for foreign maids
▼ + stars: | 2023-09-01 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +3 min

A man and children wearing masks to protect against contracting the coronavirus disease (COVID-19) take a walk at a Han River Park in Seoul, South Korea April 4, 2020. The issue sits at the confluence of South Korea's sharply declining birthrate, aging population, and its historical reluctance to accept more immigrants. South Korea is in talks with the Philippines as one of the potential sources of workers with an aim to start the pilot programme as early as December, officials said. The new scheme is the latest in a series of efforts by the government to reverse the plunging birth rate of Asia's fourth-largest economy. "There is no one-size-fits-all solution to low birth rate," Oh said.

Persons: Heo, hoon, 1,322.1800, Soo, hyang Choi, Simon Cameron, Moore Organizations: REUTERS, Rights, Organisation for Economic Co, Development, OECD, Thomson Locations: Seoul, South Korea, Rights SEOUL, South, Philippines, Koreans

☆ South Korea's Naver launches generative AI services
▼ + stars: | 2023-08-24 | by ( Ju-Min Park | ) www.reuters.com time to read: +2 min

Naver said its AI product, named HyperCLOVA X, will provide generative AI-driven searches for users as well as new customised services for enterprise clients. Naver has said it is jointly developing with Samsung Electronics (005930.KS) new chip solutions that will be smaller and more efficient to support its AI technology development. The company plans to open a new data centre for the HyperCLOVA X services in November, Naver said on Thursday. "We are ready to face a new transformation called generative AI," Naver Chief Executive Choi Soo-yeon said. Choi said the company was in talks with global partners about its new AI services' overseas expansion but it was not ready to identify those partners.

Persons: Heo, OpenAI's ChatGPT, Naver, HyperCLOVA, Choi Soo, Choi, Miyoung Kim, Sam Holmes Organizations: REUTERS, Rights, Samsung Electronics, Microsoft, Google, U.S, Thomson Locations: Seongnam, South Korea, Rights SEOUL, Seoul, Japan, Southeast Asia

☆ South Korea July consumer inflation slowest in 25 months
▼ + stars: | 2023-08-01 | by ( Jihoon Lee | ) www.reuters.com time to read: +1 min

An office worker eats his lunch at a convenience store in Seoul, South Korea, June 24, 2022. REUTERS/ Heo Ran/File PhotoSEOUL, Aug 2 (Reuters) - South Korea's consumer inflation cooled for a sixth consecutive month in July and by more than expected, official data showed on Wednesday. The consumer price index stood 2.3% higher in July than a year earlier, after a 2.7% rise in June and compared with a median 2.4% increase forecast in a Reuters survey of economists. It marked the weakest annual increase since June 2021, according to Statistics Korea, and was the second straight month the consumer price data came in lower than market expectations. Core inflation, which excludes volatile food and energy prices, slowed to 3.3% on an annual basis from 3.5% the previous month and hit the slowest rise since April 2022.

Persons: Heo, Jihoon Lee, Ed Davies, Jacqueline Wong Organizations: REUTERS, Statistics, Thomson Locations: Seoul, South Korea, SEOUL, Statistics Korea

☆ South Korean inflation cools to 19-month low, core remains higher
▼ + stars: | 2023-06-01 | by ( Jihoon Lee | ) www.reuters.com time to read: +2 min

FILE PHOTO: Office workers pick up lunch boxes at a convenience store in Seoul, South Korea, June 24, 2022. However, the central bank said the inflation outlook was highly uncertain, citing risks from global oil prices, economic growth and public utility price increases. By product, agricultural prices rose 0.5% in May month-on-month, while utility prices jumped 2.2%. Core CPI, which excludes volatile food and energy prices, rose 3.9% in May on-year, the slowest increase in 10 months. But it was the second straight month that the core rate stayed above the headline rate, following its 4.0% rise in the previous month.

Persons: Heo, ”, Ahn Jae Organizations: REUTERS, Statistics, Petroleum, Shinhan Securities, The Bank, CPI Locations: SEOUL, Seoul, South Korea, Statistics Korea, Korea

☆ BTS agency HYBE seeks U.S. deals after withdrawing bid for SM Entertainment
▼ + stars: | 2023-03-15 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

[1/2] Members of K-pop boy band BTS pose for photographs during a news conference promoting their new album "BE(Deluxe Edition)" in Seoul, South Korea, November 20, 2020. The company's efforts to expand its portfolio of music labels and fan community platforms come after HYBE on Sunday withdrew its plan to take over rival label SM Entertainment (041510.KQ) after a weeks-long battle with social media giant Kakao (035720.KS). HYBE owns multiple subsidiary labels and management companies including Ithaca Holdings, boasting a range of artists including BTS, Ariana Grande and Justin Bieber. The slowdown was largely, but not exclusively, due to the absence of BTS, who are currently on a break as a group, he said. Bang declined to comment on details of a new partnership deal with Kakao Entertainment on fan platform businesses, but added he was "personally satisfied" with the arrangement despite losing the bid to acquire SM Entertainment.

☆ BTS agency HYBE seeks to take over K-pop rival SM Entertainment
▼ + stars: | 2023-02-10 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

REUTERS/Heo Ran/File PhotoSEOUL, Feb 10 (Reuters) - South Korean entertainment company HYBE (352820.KS) said on Friday it will buy shares worth 423 billion won ($335 million) in rival SM Entertainment (041510.KQ), seeking management rights to strengthen its position in the K-pop industry. HYBE is the agency that manages K-pop mega band BTS. HYBE has also tendered an offer on Friday for SM shares held by minority shareholders, seeking to buy up to 25% of the rival agency with the intention of acquiring management rights. HYBE and SM Entertainment shares were up 6% and 16%, respectively, as of 11:05 a.m. (0205 GMT). Earlier this week, South Korean tech firm Kakao Corp (035720.KS) said it would acquire a 9.05% stake in SM Entertainment to pursue joint projects including global K-pop auditions.

☆ South Korean police blame fatal Halloween crush on lack of preparation, poor response
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

[1/2] A view of tributes at a memorial at the scene of a crowd crush that happened during Halloween festivities, in Seoul, South Korea, November 29, 2022. REUTERS/Heo RanSEOUL, Jan 13 (Reuters) - South Korea's police on Friday said a lack of preparations and an inadequate response were the main causes of the deadly Halloween crush in Seoul last year, wrapping up a monthslong investigation into the tragedy that killed 159 people. "Misjudgement of the situation, delay in sharing information and lack of cooperation among related agencies accumulated to cause large casualties," Sohn told reporters. The investigation team has referred 23 people, including the head of the Seoul Metropolitan Police Agency, to prosecutors. The bereaved families and opposition lawmakers have criticised the police investigation for failing to hold top officials accountable.

☆ South Korea Dec inflation steady at 5.0%, as expected
▼ + stars: | 2022-12-30 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

REUTERS/ Heo RanSEOUL (Reuters) - South Korea’s consumer prices in December rose 5.0% from a year earlier, official data showed on Friday, matching market expectations and the pace seen in November. A breakdown of the data showed prices of agricultural products had been 1.6% lower than in December 2021. But utility prices jumped 23.2% and private service prices 6.0%, keeping the overall annual inflation rate high. The fall in the core annual rate in December was the first since November 2021. No year-average inflation rate has been so high since 1998.

☆ BTS fandom tech firm Weverse reaches beyond K-Pop
▼ + stars: | 2022-12-22 | by ( Joyce Lee | ) www.reuters.com time to read: +4 min

"We are a fandom business," Weverse President Joon Choi told Reuters. The app also currently has more than 80 teams of artists represented including BTS, and about 8-9 million monthly active users. However, Weverse users' 'superfan' qualities make engagement in those services turbo-charged, Choi said. Users are based in more than 200 countries and only about 10% of the app users speak Korean, Choi said. Top 5 countries Weverse users are from include Japan, Indonesia, Mexico, the United States and South Korea.

SEOUL, Dec 13 (Reuters) - South Korea's military got a new recruit on Tuesday: Jin, the oldest member of K-pop phenomenon BTS, began 18 months of mandatory national service, complete with newly shaven head. "I wish it was a warm day," Lee Jin, 24, told Reuters outside the camp, where about 300 military, police and fire officials maintained tight security. BTS announced plans in October to sign up for mandatory military service, starting with Jin, who turned 30 on Dec. 4, after having postponed his service for the maximum time allowed. On Tuesday, Yonhap news agency said another BTS member, Suga, has been judged unfit for active duty and would do community service instead. South Korea's defence minister has said BTS would be able to perform overseas while in the military.

[1/4] Cast members Jay Ellis, Miles Teller, Tom Cruise, Glen Powell and Greg Tarzan Davis, and producer Jerry Bruckheimer pose for photographs during a news conference to promote the film 'Top Gun: Maverick' at a hotel in Seoul, South Korea, June 20, 2022. REUTERS/Heo RanLOS ANGELES, Dec 12 (Reuters) - Nominations for the annual Golden Globe awards for film and television were announced on Monday. Winners will be announced Jan. 10 in a televised ceremony on Comcast Corp's (CMCSA.O) NBC. The broadcaster dropped the Globes telecast last year after a Los Angeles Times investigation highlighted the organization's ethical and financial failures and revealed that none of the then-87 members were Black. Following is a list of nominees in key categories:MOVIESBEST DRAMA“Avatar: The Way of Water”“Elvis”“The Fabelmans”“Tar”“Top Gun: Maverick”BEST COMEDY OR MUSICAL“Babylon”“The Banshees of Inisherin”“Everything Everywhere All At Once”“Glass Onion: A Knives Out Mystery”“Triangle of Sadness”BEST ACTOR, DRAMAAustin Butler: “Elvis”Brendan Fraser: “The Whale”Hugh Jackman: “The Son”Bill Nighy: “Living”Jeremy Pope: “The Inspection”BEST ACTRESS, DRAMACate Blanchett: “Tar”Olivia Colman: “Empire Of Light”Viola Davis: “The Woman King”Ana de Armas: “Blonde”Michelle Williams: “The Fabelmans”BEST ACTOR, COMEDY OR MUSICALDiego Calva: “Babylon”Daniel Craig: “Glass Onion: A Knives out Mystery”Adam Driver: “White Noise”Colin Farrell: “The Banshees of Inisherin”Ralph Fiennes: “The Menu”BEST ACTRESS, COMEDY OR MUSICALLesley Manville, “Mrs.

☆ South Koreans set to become younger as traditional way of counting age scrapped
▼ + stars: | 2022-12-08 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +2 min

[1/2] Pedestrians wearing masks walk with umbrellas as it rains amid the coronavirus disease (COVID-19) pandemic in central Seoul, South Korea, November 19, 2020. REUTERS/Heo RanSEOUL, Dec 8 (Reuters) - South Korea on Thursday passed laws to scrap its traditional method of counting ages and adopt the international standard - a shift which will make its citizens either 1 or 2 years younger on official documents. Koreans are deemed to be a year old when born and a year is added every Jan. 1. A separate system also exists for conscription purposes or calculating the legal age to drink alcohol and smoke, in which a person's age is calculated from zero at birth and a year is added on Jan. 1. Since the early 1960s, however, South Korea has for medical and legal documents also used the international norm of calculating from zero at birth and adding a year on every birthday.

Ye-jin was among 158 people who died in the disaster on narrow lane in Seoul on Oct. 29. "Children who lost their parents are orphans, but there's no word for parents who lost their children. Dressed as Princess Jasmine from the Disney animated film "Aladdin", Ye-jin had gone for the night out in the capital Seoul with two friends. Last week, some relatives of victims held a news conference demanding a government apology and a thorough investigation. Lee Ju-hee, from a collective of human rights lawyers called Minbyun, said nearly 60 families have joined a campaign for justice.

[1/3] Police officers stand guard near the scene of a crowd crush that happened during Halloween festivities, in Seoul, South Korea, November 2, 2022. REUTERS/Heo RanSEOUL, Nov 2 (Reuters) - As South Korea mourns the deaths of more than 150 people in a Halloween party crush, many people - even those not directly involved - are dealing with trauma and a search for answers that has at times blamed the victims, a psychiatry expert says. "It spread very quickly through news media and social media, leaving people directly and indirectly affected, and even those who aren't affected may feel distressed and frustrated, pretty much casting a sense of dread over the entire society," he said. The government sent a mobile clinic run by the National Center for Disaster Trauma to Itaewon, offering free counselling. "For example, when we had COVID-19 cases the first time in South Korea, there were a lot of blaming reactions like 'why did you go there?

☆ South Korea vows tough action, moving to quell anger over Halloween crush
▼ + stars: | 2022-11-01 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +2 min

[1/3] South Korean President Yoon Suk-yeol walks at the scene where many people died and were injured in a stampede during a Halloween festival in Seoul, South Korea, October 30, 2022. The death toll from the crush at a crowded Halloween street party on Saturday climbed to 156 with 151 injured, 29 of whom were in serious condition. The country's chief security officer, Interior Minister Lee Sang-min, had said deploying more police would not have prevented the disaster. President Yoon Suk-yeol has declared a week of national mourning, saying the country had too many safety disasters. On social media, some Koreans said precautions were inadequate for an event that had been expected to draw large crowds.

[1/4] South Korean President Yoon Suk-yeol walks at the scene where many people died and were injured in a stampede during a Halloween festival in Seoul, South Korea, October 30, 2022. REUTERS/ Heo RanSEOUL, Oct 30 (Reuters) - South Korea's President Yoon Suk-yeol declared a period of national mourning on Sunday after a Halloween crush killed some 151 people in a packed nightlife area in Seoul. It was the first Halloween event in Seoul in three years after the country lifted COVID-19 restrictions and social distancing. Choi, the Yongsan district fire chief, said all the deaths were likely from the crush in the single narrow alley. Reporting by Soo-hyang Choi, Choonsik Yoo Daewoung Kim, Hong-ji Kim, Writing by Jack Kim; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ Shares in BTS' management rise after band clears uncertainty over military service
▼ + stars: | 2022-10-18 | by ( Joyce Lee | ) www.reuters.com time to read: +3 min

REUTERS/Heo Ran/File PhotoSEOUL, Oct 18 (Reuters) - The announcement by K-pop mega band BTS that members would serve mandatory military service in South Korea has removed a cloud of uncertainty that has hung over their plans. Investors in HYBE Co (352820.KS), BTS' management group, responded to the news by driving its shares up as much as 7.8% on Tuesday. In 2020, BTS accounted for 730 billion won in sales out of the company's 796 billion won revenue, she noted. The Korea Culture and Tourism Institute estimated that BTS' 2020 No. Hyundai Research Institute estimated that BTS' average annual production impact is about 4.1 trillion won, and the value-added economic effect is about 1.4 trillion won, in a 2018 report.

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