Aug 20, 2019

Amorepacific spins off tea brand Osulloc

South Korean cosmetics giant Amorepacific Corp. said Tuesday that its premium green tea brand Osulloc will be launched as an independent entity this year to boost its value.Osulloc will begin independent business activity starting on Oct. 1, the company said in a regulatory filing. The move is part of efforts to reinforce Osulloc's brand image as a premium organic green tea brand, the company said. "Osulloc will solidify its brand as a leading premium tea brand through efficient and re

Today

Are ‘water drop’ breast implants a ticking time bomb in the chest?

Once the most popular breast augmentation product in Korea, rough-surface implants are now a source of concern

Today

Hyosung to invest W1tr in carbon fiber, aims to become global top 3

President Moon urges to strengthen Korea’s competitiveness in material businesses, touts Hyosung’s investment

Today

Korean Air expands SE Asian, Chinese routes to make up for reduced Japan flights

Korean Air is expanding its Southeast Asian, Chinese and Oceania routes, in response to falling demand for air travel to Japan amid the ongoing trade row between South Korea and Japan.According to Korean Air, it is reorganizing and expanding some of its international routes to make up for lower demand for flights to Japanese cities. The full-service air carrier will add seven weekly Incheon-Clark flights from Oct. 27. It will also expand the current 14 weekly flights on the Incheon-Da

Today

Coca-Cola Korea launches new carbonated water

Riding on the growing popularity of carbonated drinks, Coca-Cola Korea’s sparkling water brand Seagram’s has released new zero-calorie flavored sparkling water, Seagram’s The Tansan, the company said Tuesday.The company said Seagram’s The Tansan will have two flavors -- lemon and apple mint -- designed as palate refreshers. Tansan in Korean means carbonic acid, which gives carbonated drinks their signature bubbles and refreshing “bite.” “The crisp flavor

Aug 19, 2019

Asiana jumps as local activist fund shows takeover interest

Stock prices of Asiana Airlines Inc., South Korea's second-biggest airline, jumped 11 percent on Monday following news that a local activist fund is considering taking over the company.Asiana shares soared 26 percent to an intraday high of 6,240 won before closing at 5,500 won. The broader KOSPI gained 0.7 percent.Kumho Asiana Group, a South Korean airline-to-petrochemical conglomerate, aims to sell a 31 percent stake in Asiana Airlines held by its affiliate Kumho Industrial Co. together with it

Aug 20, 2019

Beleaguered air carriers halt cargo services, suffer slump in stock prices

Hit with the triple whammy of global trade conflicts, diminished profitability and management risks, South Korea’s two full-service air carriers have decided to severely cut back on cargo services to carry through their quarterly operating loss, which exceeds 100 billion each.Korean Air and Asiana Airlines both said Monday that they were suspending domestic cargo delivery service as of October, in an effort to improve their financial situation after reporting poor second-quarter earnings a

Aug 20, 2019

SK chief opens Icheon Forum, SK Univ. to speed up ‘deep change’

Seeking changes in the way a conglomerate operates, SK Group kicked off an annual in-house forum Monday in search of a new path to transform its wide range of businesses. Hosted by Chairman Chey Tae-won, the Icheon Forum invited CEOs of affiliates, executives and rank-and-file employees to discuss the future of the nation’s third-largest conglomerate, which faces growing geopolitical risks, technological competition and fast-changing consumer markets, officials said.During the third editio

Aug 20, 2019

Gucci, Louis Vuitton use retro mobile games for marketing

High fashion cash in on pixelated 8-bit retro games to grab attention of millennials, Gen Z

Aug 20, 2019

[Going Renewable 6] How IMO regulations affect Korean oil refiners, shipbuilders

The Korea Herald is publishing a series of articles on the quest of South Korea’s government and businesses to switch to renewable energy. -- Ed.New environmental regulations in international waters could serve as a momentum for Korean oil refiners and shipbuilders to seek new opportunities in the sluggish markets. In response to heightening environmental concerns and growing harmful emissions from ships, the International Maritime Organization has ruled that from January 2020 ships will h

Aug 19, 2019

Apple says it employs 500 workers in S. Korea

The South Korean unit of Apple Inc. employs 500 workers and has helped create more than 300,000 jobs here over the past 20 years, according to its website Monday. It marks the first time since the US tech giant's entry into South Korea in 1998 that the company has unveiled the workforce of its local subsidiary.The newly opened "job creation" section of the Korean-language website said Apple's local unit started with only two employees, but its payroll had increased to some 500 as of en

Aug 19, 2019

[News Focus] Korea keen on investment in ocean cruise harbors

SEJONG -- South Korea has five international cruise terminals -- two in Jeju, one in Busan, one in Sokcho and one in Incheon.With the Ministry of Oceans and Fisheries focusing on the development of cruise tourism, its plan to open a new Jeju Port, aimed at handling a greater number of inbound cruise tourists, has been approved by the Cabinet.The endorsed budget for the third ocean cruise terminal on Jeju Island -- with the capacity to manage 4.7 million tourists per year -- is set at 2.8 trillio

Aug 18, 2019

Top 10 biz groups' operating profits down by 54% in H1

South Korea's major conglomerates posted downbeat operating earnings in the first half from a year ago due to weak global demand for major products, including memory chips, industry data showed Sunday. The combined operating profits of 90 listed companies affiliated with the nation's top 10 business groups totaled 21.3 trillion won ($17.5 billion) in the first six months of this year, 53.5 percent down from a year earlier, according to market researcher Inforbix's analysis of their semiannual re

Aug 19, 2019

[Herald Interview] Raising the bar of ethical farming, startup offers ‘disruptive’ agritech

ULikeKorea set to enter Australia, UAE with bio capsule system for livestock