Meta, U.S. States Discuss Settlement in Teen Addiction Trial 
SK Hynix Shares Fall as Workers Reject Wage Deal 
Gold Prices Hover Near Three-Month High as Oil, Treasury Yields Fall 
Google promotes ‘teacher approved’ apps for kids. Here’s what parents should know 
Salesforce Shares Surge as AI Demand Powers Q2 Earnings Beat 
US PCE Inflation Holds at 3.7% as Fed Rate Decision Looms 
Bank of Korea Raises Rates to 3% as Inflation Stays Sticky 
Asian Currencies Slip as Dollar Rebounds on Iran Sanctions 
The ghost of Robodebt – Federal Court rules billions of dollars in welfare debts must be recalculated 
SoftBank Eyes $20 Billion Bond Sale to Refinance OpenAI Loan 
The Beauty Beneath the Expressway: A Journey from Self to Service 
US Stocks Finish Flat as Inflation Data, Nvidia Earnings Keep Investors Cautious 
Disaster or digital spectacle? The dangers of using floods to create social media content 
Stuck in a creativity slump at work? Here are some surprising ways to get your spark back 
Locked up then locked out: how NZ’s bank rules make life for ex-prisoners even harder 
Trump Administration Plans New Drug Pricing Deals With Biotech Firms 
Shein Hong Kong IPO to Raise $1.7 Billion at $26.5 Billion Valuation 
Add as a preferred source on Google
Concerns are growing over the financial soundness of South Korean retailers such as Lotte Mart and E-mart, as they are engaged in an intensifying price war to attract frugal consumers.
Lotte Mart saw a 10 billion won loss in the first half of this year due to higher marketing costs. E-mart's operating profit in the same period also plunged 83.1 percent year-on-year. The two companies showed a combined loss of 30 billion won in only the second quarter of this year.
Since June, major retail chains and convenience stores have been implementing "special" pricing for well-known foods including fried chicken, pizza, and coffee drinks.
The executives said that they had not intended to continue the promotional event for more than a month and had instead been offering substantial discounts for a wider range of food products in response to client requests.
On June 30, Homeplus presented Dang Dang Chicken for 6,000 won at its stores, launching the continuing price-cutting contest. People who were upset with local fried chicken franchises boosting prices owing to increased raw material prices and rising labor expenses were immediately drawn to the chicken, which was sold for a fraction of the pricing charged by restaurants. The shop has been offering Dang Dang Chicken ever since.
Other retailers jumped into the price war, including GS Retail, E-mart, and Lotte Mart. The classic Korean dish bibimbap has been made available at reduced prices at E-mart and Lotte Mart, while GS Retail's convenience shop CU has started offering a 650 won coffee that is less expensive than mineral water in this area.
Between September 1 to September 13, Homeplus' ready-made food business saw a 74 percent increase in sales year over year. During the same period, revenues at E-mart and Lotte Mart also rose by 26% and 40%, respectively.
Retailers are concerned about their profitability despite an increase in customers and sales at their locations. The initial purpose of the low prices was to draw clients while leaving almost no profit margin, if not even a loss.
