[Personnel] BGF Group

BGF Group announced on November 14 that it has carried out its 2026 organizational restructuring and regular personnel appointments. The company explained that this organizational restructuring and regular personnel appointments are aimed at maintaining a stable organizational management system to prepare for internal and external uncertainties, while also focusing on enhancing business competitiveness and adaptability to change in order to establish a foundation for sustainable growth. Specifically, BGF Retail has renamed its existing Management Planning Office to the Management Innovation Office, and the BI Team, which previously operated under the Strategic Innovation Division, has been renamed the Future Strategy Team. This move is intended to strengthen the company's role in establishing mid- to long-term future visions and driving innovation initiatives. The company plans to actively introduce data-driven capabilities such as artificial intelligence (AI) and retail technology to

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11.14 14:19

29CM’s Surge and Shein’s Pursuit... Women’s Fashion Platforms in Turmoil

Competition in the women’s fashion platform market is intensifying. '29CM,' which grew based on domestic designer brands under Musinsa, has surpassed Shinsegae's 'W Concept' and is closely trailing Dongdaemun-based fashion platforms 'Ably' and 'Zigzag.' Meanwhile, Chinese women’s fashion platform 'Shein' is rapidly attracting consumers by offering ultra cost-effectiveness. According to the fashion industry on November 14, 29CM surpassed 1 trillion won in gross merchandise volume (GMV) as of the end of last month. After surpassing 1 trillion won in GMV for the first time last year, it is expected to maintain this level for the second consecutive year. In contrast, W Concept’s GMV in the first half of this year was 300 billion won, and is estimated to have reached 500 billion won for the same period. Brand Fashion Platform 29CM Takes the Lead 29CM also leads in user numbers. According to WiseApp Retail, a mobile app analytics platform, W Concept’s monthly active users (MAU) stood at appr

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11.14 11:06

SSM Franchise Business Regulations Extended for Four Years: "Failure to Reflect Changing Times Is Hurting Small Business Owners"

As the amendment to the Distribution Industry Development Act, which extends business regulations on hypermarkets and Super Supermarkets (SSMs) for another four years, passed the National Assembly plenary session, concerns have been raised that the irrational extension of regulations will further harm SSM franchisees. According to the retail industry on November 14, the National Assembly passed a bill the previous day to extend the sunset clause (Article 48-2) on SSM regulations until 2029. An additional provision was also added, requiring a comprehensive analysis on the necessity of maintaining these regulations to be reported to the National Assembly at least three months before the law expires. The law regulating SSMs was first introduced in 2010 and was extended for five years each in 2015 and 2020. This is the third extension. With this extension, hypermarkets and SSMs will continue to face restrictions on opening new stores within a one-kilometer radius of traditional markets and

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11.14 10:43

Shinsegae Unveils First "Starfield Village," a New Local Shopping Mall, in Unjeong, Paju

Shinsegae Property announced on November 14 that it will open the first branch of its community-based shopping space, "Starfield Village," called "Starfield Village Unjeong," on December 5. Starfield Village is a new brand that combines the expertise accumulated through the successful development and operation of Starfield with enhanced community functions. Following the successful launches of "The Shops at Centerfield" and "Starfield Avenue," both located in prime downtown office districts, Shinsegae Property is now expanding its business scope to include lifestyle-oriented spaces with the introduction of "Starfield Village." Shinsegae aims to infuse the innovative DNA of Starfield into Starfield Village, with the ambition to lead a new paradigm for local, community-focused retail facilities. While Starfield transformed shopping spaces into "shopping theme parks" full of entertainment, Starfield Village plans to evolve mixed-use commercial spaces into "local lifestyle hubs." Starfield

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11.14 09:04

11st Posts Q3 Operating Loss of 8.8 Billion Won, Down 40% Year-on-Year

11st has recorded a profit in operating income for its core open market business segment for 20 consecutive months, improving its third-quarter operating loss by 40% compared to the previous year. According to SK Square's quarterly report released on November 14, 11st's operating loss for the third quarter of this year was 8.8 billion won, a 40% reduction from the same period last year. During the same period, revenue was 104.7 billion won, a 14% decrease year-on-year. The cumulative operating loss for the first to third quarters of this year was 23.7 billion won, a 45% improvement compared to the previous year. The achievement of 20 consecutive months of operating profit in the open market segment contributed to the improved results. 11st is pursuing company-wide performance improvement by adjusting its portfolio to focus on highly profitable product categories, such as 'Mart'. The integrated grocery specialty store 'Mart Plus', launched in May, reached a cumulative 2.3 million purcha

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11.14 08:48

The Shilla Seoul Unveils "Merry Shilla Village" in 19th Floor Lounge

On November 14, The Shilla Seoul announced that it is introducing the "Merry Shilla Village" for the year-end season. Every year during the holiday season, The Shilla Seoul decorates key areas of the hotel, such as the lobby, arcade, and the rear garden of the Yeongbingwan, with red accents and Christmas ornaments, creating a festive atmosphere. This year, in addition, the hotel is installing the "Merry Shilla Village" in the lounge on the 19th floor, offering guests a new attraction and photo spot. The "Merry Shilla Village," which is immediately visible upon entering the 19th-floor lounge, is designed around the concept of "a Christmas market that Shilla Bear stumbled upon during its travels." The display features Christmas music boxes and a Santa village with an amusement park and ski slopes, recreating a snow-covered fairy tale scene that captivates both children and the young at heart. The lobby and restaurants are decorated with black and red flowers, and red-themed artworks by a

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11.14 08:47

"Fostering a Northeast Asian Logistics Hub"... LX Pantos Establishes Joint Venture with Chinese Logistics Firm

LX Pantos is establishing a joint venture with China's largest logistics company to target the rapidly growing sea-air intermodal transportation market in the region. The company plans to build a global transshipment network based on Chinese e-commerce cargo and further enhance the competitiveness of Northeast Asia as a logistics hub. On November 13, LX Pantos announced that it had signed an agreement with Sinotrans at Sinotrans headquarters in Beijing, China, to establish their joint venture, "FutureLinks." The signing ceremony was attended by Lee Yongho, CEO of LX Pantos, Zhang Yi, Chairman of Sinotrans, and other key executives from both companies. Sinotrans is a leading global logistics company from China, ranking first in the world in terms of sea freight volume. In the newly established joint venture, FutureLinks, LX Pantos will hold a 60% stake, while Sinotrans will hold 40%. Through the joint venture, the two companies plan to build a stable transshipment network centered on t

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11.14 08:42

[The Weather Is Not to Blame]⑥Overseas Countries Abolish Wholesale Market Monopolies: "Price Stability for Agricultural Products Begins with Competition"

Editor's NoteWe are living in an era where "agflation," driven by climate change, has become the norm, pushing up agricultural product prices. Each time abnormal weather events such as droughts, monsoons, or heat waves occur, food prices fluctuate wildly. Unpredictable weather, which leads to poor harvests, is often cited as the main cause of soaring agricultural prices. This is only half true. The opaque distribution structure of agricultural products manipulates prices, using the weather as a shield. Farmers are frustrated as their carefully cultivated produce fails to fetch fair prices in the market, while consumers are caught in a vicious cycle of paying far more than the shipping price from the production area. The Asia Business Daily investigates the cartel hidden within the distribution system behind the external factor of weather, and explores alternatives to the agricultural auction system that has remained unchanged for 40 years. In recent years, the sharp rise in agricult

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11.14 06:50

Andar: "Unrelated to National Security Act Violation... Founder Couple Resigned in 2021"

[Personnel] BGF Group

29CM’s Surge and Shein’s Pursuit... Women’s Fashion Platforms in Turmoil

SSM Franchise Business Regulations Extended for Four Years: "Failure to Reflect Changing Times Is Hurting Small Business Owners"

Shinsegae Unveils First "Starfield Village," a New Local Shopping Mall, in Unjeong, Paju

11st Posts Q3 Operating Loss of 8.8 Billion Won, Down 40% Year-on-Year

The Shilla Seoul Unveils "Merry Shilla Village" in 19th Floor Lounge

"Fostering a Northeast Asian Logistics Hub"... LX Pantos Establishes Joint Venture with Chinese Logistics Firm

[The Weather Is Not to Blame]⑥Overseas Countries Abolish Wholesale Market Monopolies: "Price Stability for Agricultural Products Begins with Competition"

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