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Moon pitches vision of regional railway bloc at Asia-Europe summit
Comedian Yoo Jae-suk and wife welcome second baby
Education Ministry to disclose private kindergartens found with accounting ...
[Newsmaker] Only 28% of school buildings reinforced for earthquake in Korea...
Kakao Games to launch slew of new games by end-2018
Over 2,000 Koreans move abroad without paying W400b in combined debt: data
Ruling party hails pope’s stance on NK visit, stresses strong ties with US
Korea’s Naver, Celltrion, Samsung BioLogics on Fortune’s ‘Future 50’ li...
Putin: Russia ‘ahead of competition’ with latest weapons
Taliban attack on top US commander, Afghan security officials kills three

Today Industry

Amorepacific expands business in Australia, New Zealand

South Korea's cosmetics giant Amorepacific Group said Friday it has launched one of its brands in Australia and New Zealand as the company moves to expand its presence in the overseas market.Products of Amorepacific's luxury brand of the same name are now available at 44 MECCA Cosmetica stores in the two countries, as well as at two local online malls, it said. (Yonhap)The brand Amorepacific made its first overseas expansion in 2002 by entering the United States and is now also present in Canada

Angry franchisers sue Skinfood

Store operators of the financially struggling budget cosmetics brand Skinfood filed a lawsuit seeking compensation from the company in August, it was revealed Thursday. Four Skinfood franchisers asked the court to order Skinfood to compensate franchisers, citing poor management by Skinfood CEO Cho Yoon-ho, Skinfood confirmed. (Yonhap)In early October, Skinfood filed for court receivership because of its poor financial status. According to the regulatory filing, the company has been losing money

Today
Industry
GS Group chairman urges CEOs to tap into Southeast Asia

The head of South Korean energy-to-retail giant GS Group urged CEOs of affiliates to seek ways to make inroad into the Southeast Asian market by taking Thailand as a strategic base, the company said Thursday.At a meeting with GS CEOs held in Bangkok, Chairman Huh Chang-soo stressed the importance of the market, citing the fast economic growth and increasing demand to build infrastructure. GS Group Chairman Huh Chang-soo (right) tries a product exported by South Korean company 9tails at a studio

Today
Industry
Coupang opens Halloween-theme store

South Korean e-commerce company Coupang said Thursday that it had opened a Halloween-concept store, offering some 250,000 Halloween items.According to Coupang, there are 20 categories of products including costumes, trick-or-treat candies and party and packing items. (Coupang)For promotion, Coupang will offer discount coupons applicable to some of the Halloween makeup products. Those who purchase more than 50,000 won ($45) of Halloween products will be given a 7,000 won discount coupon.“As more

Today
Industry
Korea launches promotions at int'l derivatives expo

South Korea's bourse operator said Thursday it has taken part in the world's largest futures and options expo and launched campaigns to promote its derivative products.The Korea Exchange joined the 34th annual FIA Futures and Options EXPO 2018 event, which kicked off on Tuesday (US time) for a three-day run in Chicago.(Yonhap)As the world's largest event for the global listed derivatives and cleared swaps community, the trade show drew more than 4,000 industry experts to share new market trends

Oct 18, 2018
Industry
Hyundai chief pushing to visit N. Korea for anniversary of stalled tour program

The head of Hyundai Group is pushing for a trip to a scenic North Korean mountain resort next month to mark the 20th anniversary of a long-stalled inter-Korean tour program, a company official said Thursday.Hyundai Asan, the inter-Korean business arm of Hyundai Group, plans to seek approval from the Unification Ministry handling inter-Korean affairs later this month to contact North Korean officials to work out the details of a trip.Any trip by South Koreans to North Korea requires Seoul's appro

Oct 18, 2018
Industry
Court rejects injunction against GM Korea's shareholders' meeting

A South Korean court on Wednesday rejected an injunction against a shareholders' meeting of GM Korea Co. set for later this week, a move that could allow the local unit of General Motors Co. to establish a separate R&D entity.GM Korea is set to hold the shareholders' meeting on Friday and is expected to endorse a controversial plan to set up the new business entity responsible for design and development work for GM's best-selling compact sport utility vehicles.South Korea's state-run Korea Devel

Oct 17, 2018
Industry
Companies should spend more on investment: lawmaker

South Korean companies should expand their investments and boost the nation’s economy with their cashable assets that have more than doubled over the last seven years, a ruling party lawmaker said Wednesday.According to Rep. Kim Doo-kwan of the Democratic Party of Korea, cashable assets of Korean companies rose 76 percent from 337 trillion won ($298 billion) in 2009 to 594 trillion won last year, citing the reports from the Bank of Korea. (Yonhap)Cashable assets refer to cash, financial produc

Oct 18, 2018
Industry
Gimpo Airport reopens domestic terminals after renovations

Domestic terminals at Gimpo International Airport reopened Wednesday after decadelong renovations that cost 250 billion won ($222 million). The airport, which was built in 1980, underwent renovations in response to aging buildings, increasing numbers of domestic travelers and the rise of low-cost carriers, the Ministry of Land, Infrastructure and Transport said. Renovated domestic terminals at Gimpo International Airport (Yonhap)The 88,443 square-meter terminal will now enable passengers to qui

Oct 18, 2018
Industry
1 in 10 coffee franchise shut down last year: data

South Korea’s coffee shop craze at saturation point amid squeezed market share

Oct 18, 2018
Industry
[Breaking] YouTube resumes service after 1-hour crash, global disruption

YouTube servers that went down causing worldwide bafflement Wednesday morning were restored after about an hour.The site was restored at 11:38 a.m. by which time nearly 5,000 tweets had inundated Twitter in Korea with a hashtag for “YouTube Server.”From around 10:30 a.m. Wednesday, YouTube users worldwide faced the message “500 Internal Server Error” upon trying to visit the video streaming site. The error page explained, “Sorry, something went wrong,” but added, “A team of highly trained monkey

Oct 18, 2018
Industry
Korea's Gimpo Airport completes $222 m renovation

South Korea's airport operator said Wednesday that it has completed a 250 billion won ($222 million) renovation of the domestic terminal at Gimpo International Airport in southwestern Seoul.The terminal built in 1980 -- which is used for domestic travelers -- underwent a decadelong progressive upgrade so as not to affect normal operations, according to the Korea Airports Corp. (Yonhap)People using the 88,443 square-meter terminal can now benefit from a shorter baggage processing time of about fi

Oct 17, 2018
Industry
Users baffled by worldwide YouTube crash

YouTube users worldwide faced the message “500 Internal Servor Error” upon trying to visit the video streaming site, Wednesday.The error page explains, “Sorry, something went wrong,” but adds, “A team of highly trained monkeys has been dispatched to deal with this situation.”A YouTube Korea representative told The Korea Herald they are “internally investigating the temporary error” that has occurred globally. As of the time of publication, some site functionality had been restored, but videos wo

Oct 18, 2018
Industry
More companies switching to blind hiring for new recruits

More local companies are switching to blind hiring for new recruits, looking more at qualifications for required skills rather than alma mater, hometowns and language proficiency, an analysis indicated Wednesday.According to the Korea Economic Research Institute, the surveyed firms mostly adopted blind hiring for select positions. (Yonhap)Lotte Department Store uses the hiring system for its merchandisers, CJ ENM for its concert planners, KT for software developers and Doosan Heavy Industries &

Oct 17, 2018
Industry
[KH Biz Forum] Beware fallacy of hasty generalization in ASEAN investment

When addressing Southeast Asian states as “ASEAN,” foreign investors are often inclined to overlook the individual economic, legal and cultural differences of each country, according to a legal expert. “Cultural disparity is a frequent challenge for foreign investors who seek to affiliate themselves with an unknown business environment,” Jeong Cheol, a lawyer at Jipyong LLC, said at The Korea Herald Biz Forum.“It may thus be a critical error to presume that the business experience and insight in

Oct 17, 2018
Industry

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