Global Economic Times

2025.10.22 (Wed)
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Kering Sells Beauty Division to L'Oréal for €4 Billion Amid Gucci Slump

Paris – French luxury conglomerate Kering, owner of major brands including Gucci, Bottega Veneta, and Balenciaga, has announced the sale of its beauty business to French cosmetics giant L'Or
South Korean Department Store Industry Intensifies Competition for AI-Based 'Hyper-Personalized' Shopping

The South Korean department store industry is accelerating the development of 'hyper-personalized' custom services using Artificial Intelligence (AI). Leading this trend, Hyundai Department St

From Formal to 'Fine-Casual': Asia Pacific Embraces Culinary Comfort and Experience

SEOUL, South Korea — A seismic shift is underway in the Asia Pacific dining scene, with traditional fine dining making way for a trend dubbed "casual luxury." This is the core findin

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South Korea, Indonesia Reaffirm Commitment to KF-21 Fighter Jet Project: JAKARTA – South Korean and Indonesian defense officials have solidified their commitment to the joint development of the KF- ...; Ana Fernanda Reporter 2025.03.25

Korean Securities Firms' Net Profits Approach 7 Trillion Won, Driven by Surge in Overseas Stock Trading: Seoul, South Korea – South Korean securities firms reported a significant increase in net profits for the past year, approac ...; Desk 2025.03.25

Gyeonggi Province Drives Open Innovation, Connecting Startups with Major Corporations: Gyeonggi Province, South Korea, is spearheading an initiative to bridge the gap between burgeoning startups and established large ...; Min Gyu Mi Reporter 2025.03.25

Seafood Prices Soar as Production of Popular Fish Plummets: Seoul, South Korea – The cost of staple seafood items like mackerel, squid, and hairtail has surged in South Korea, placing ...; Hwang Sujin Reporter 2025.03.25

Twosome Place Increases Prices by Average 4.9%... 58 Items Including Coffee and Cakes Affected: On the 24th, Cafe Twosome Place announced that it will raise the prices of some products by an average of 4.9% starting from the 2 ...; Hwang Sujin Reporter 2025.03.25

Auto Insurance Loss Ratio Skyrockets Amidst Cold Wave and Premium Cuts: SEOUL — The auto insurance sector is facing mounting challenges as the loss ratio for major insurers surged to 88.7% in Febr ...; Desk 2025.03.25

Jeonbuk Bank Launches Mobile Foreigner Registration Card-Based Financial Transactions: Jeonbuk Bank, a member of the JB Financial Group, has become the first financial institution in South Korea to introduce both in-p ...; KO YONG-CHUL Reporter 2025.03.25

Jeonbuk Businesses Lag in ESG Adoption, Urgent Need for Corporate Support: A recent survey has revealed that the adoption rate of ESG (Environmental, Social, and Governance) management among businesses in ...; ONLINE TEAM 2025.03.25

NH NongHyup Jeju to Hire 40 New Employees in First Half of 2025: JEJU, South Korea – NH NongHyup Jeju Headquarters and the Jeju Regional Agricultural and Livestock Cooperatives Personnel Af ...; Yim Kwangsoo Correspondent 2025.03.25

Jeju Tourism Corporation's Seongsan Duty-Free Shop Reopens After 4.5 Years: Seogwipo, Jeju, March 21, 2025 – Jeju Tourism Corporation (President Ko Seung-cheol) announced today that it reopened the Se ...; Min Gyu Mi Reporter 2025.03.25

Kakao, Naver Pay, and NHN Payco Halt Sales and Exchanges of Culture Gift Certificates, Raising Concerns of "Second Mezzopoint" Incident: The number of places accepting gift certificates issued by "Culture Gift Certificate Co., Ltd." is rapidly decreasing. Kakao has c ...; Hwang Sujin Reporter 2025.03.24

Major Food Prices in Korea Rise, Burdening Citizens' Economy: Recently, the prices of essential food items in Korea, such as ramen, dumplings, snacks, beer, and coffee, have been steadily incr ...; Hwang Sujin Reporter 2025.03.24

Paraguay is on the verge of finalizing a contract to export 2,500 heads of cattle to Morocco, marking a significant step in its efforts to penetrate the African market.: Paraguay has established a foothold for entering the African market. Ramiro Maluff, President of the Paraguayan Meat Production an ...; Yim Kwangsoo Correspondent 2025.03.24

Blue Bottle Coffee to Open First Southeast Asia Cafe in Singapore: Blue Bottle Coffee, a global specialty coffee brand that started as a small coffee cart in Oakland, California, USA, has announced ...; KO YONG-CHUL Reporter 2025.03.24

Fore Coffee Targets Southeast Asia Market, Using Singapore as Strategic Hub: Indonesian coffee chain Fore Coffee is strategically positioning Singapore as its launchpad for Southeast Asia market expansion. T ...; KO YONG-CHUL Reporter 2025.03.24

CLIO's 'Essential Lip Cheek Tab' Takes the Japanese Market by Storm...Accelerating Offline Store Expansion: CLIO's 'Essential Lip Cheek Tab,' launched in Japan, is receiving an enthusiastic response from local consumers, leading to a rapi ...; KO YONG-CHUL Reporter 2025.03.24

Soybean Producers in Northern Brazil Face Shipping Crisis: Soybean producers in northern Brazil are struggling to ship their grain due to a major bottleneck at the main loading dock in the ...; Pedro Espinola Special Correspondent 2025.03.23

Brazil Navigates Trade Tensions with U.S. Over Steel Tariffs: Rio de Janeiro, Brazil – The Brazilian government, under President Luiz Inácio Lula da Silva, is prioritizing negotia ...; Global Economic Times Reporter 2025.03.23

Belgium's BEL 20 Index Dips Amid Sectoral Declines: Brussels, Belgium – The Belgian stock market, represented by the BEL 20 index, experienced a slight downturn at the close of ...; Pedro Espinola Special Correspondent 2025.03.23

Uttar Pradesh Farmers Achieve Milestone with Jaggery Export to Bangladesh: Muzaffarnagar, Uttar Pradesh, India – In a significant boost to India’s agricultural export sector, Uttar Pradesh has ...; Pedro Espinola Special Correspondent 2025.03.23