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Lotte, Shilla win bid for new Incheon airport duty-free stores

The duty-free units of Lotte Group and Hotel Shilla Co. have won licenses for the new duty-free stores at the new Incheon airport terminal due to open later in the year, the customs authority said Saturday. Lotte Duty Free and Shilla Duty Free tendered their preliminary bids late last mon...

Updated : 2017.04.29 15:46

[Newsmaker] Kumho chief refuses to give up trademark rights of tire unit

Kumho Asiana Group Chairman Park Sam-koo announced Friday that he will not relinquish Kumho Tire’s trademark rights to China’s Doublestar Co., which is currently in negotiations to acquire Korea’s ...

Updated : 2017.04.28 16:04

Posco E&C turns profitable following ‘100-day turnaround’

Posco Engineering & Construction has found itself back in the black after completing its “100-day turnaround” strategy, which involved increasing project profit margins and minimizing expenses, acco...

Updated : 2017.04.28 15:58

Foreign luxury brands’ profits fall in Korea

Luxury brands including Balenciaga and Ferragamo are seeing falling profits in Korea as savvy consumers increasingly buy luxury items directly from overseas or during outlet sales.According to filings...

Updated : 2017.04.28 15:57

OB expands product lineup

Oriental Brewery, South Korea’s largest brewer, has launched six new products in the past two years, as part of efforts to satisfy the growing number of local customers looking for a variety of choic...

Updated : 2017.04.28 15:55

Hankook Tire Q1 net falls 13% on high costs

Hankook Tire Manufacturing Co., the world's seventh-biggest tiremaker by sales, on Friday posted a 13-percent on-year drop in its first-quarter net profit due to high manufacturing costs. Net profit f...

Updated : 2017.04.28 15:42

LG Household's Q1 net up 12.5% on high-end cosmetics sales

LG Household & Health Care Co., South Korea's No. 2 cosmetics maker, on Friday reported firm growth in its first-quarter earnings, shrugging off concerns over a setback from China's boycott on Korean-...

Updated : 2017.04.28 13:46

Novartis Korea fined W55b, faces insurance coverage ban over bribery

Swiss pharmaceutical giant Novartis has been fined 55.1 billion won ($49 million) and given a six-month suspension of insurance coverage benefits for nine products in South Korea for bribing local doc...

Updated : 2017.04.28 13:23

Agricultural expo kicks off in Seoul

An agricultural exhibition designed to promote the modern rural living and farming business kicked off in southern Seoul on Friday, drawing a large number of visitors from around the country seeking a...

Updated : 2017.04.28 12:05

Korea's retail sales gain 6.9% in March

Sales of major South Korean retailers maintained their upward mode last month amid a recent recovery in consumer sentiment, government data showed Friday.The combined sales of department stores, large...

Updated : 2017.04.28 11:06

Korea to adopt restaurant sanitation grading system

South Korea will introduce a sanitation grading system for restaurants from next month, the food ministry said Friday.From May 19, restaurants can voluntarily apply to get hygiene ratings, the ministr...

Updated : 2017.04.28 11:02

Industrial output rebounds in March

South Korea's industrial output rebounded to rise 1 percent last month from a month earlier on a rise in the production of automobiles and electronics parts, government data showed Friday.Production i...

Updated : 2017.04.28 09:27

Korea's biz sentiment turns pessimistic for May

South Korean companies' business environment outlook soured for next month due to fewer work days and concerns about protectionism by major trading partners, a local think tank said Friday. The busine...

Updated : 2017.04.28 09:26

No.1 buyer of distressed assets to pour 500 bln won into SME restructuring fund

United Asset Management Company, South Korea's biggest bad loan investment firm, said Thursday it will invest 500 billion won ($442.6 million) into a private-public fund that will help restructure sma...

Updated : 2017.04.27 17:49

Egg-laying hens hit lowest in 12 years due to bird flu outbreak

The number of egg-laying hens in South Korea fell to the lowest level in 12 years in the first quarter, data showed Thursday, sparking concerns that egg prices could go up further.The data compiled by...

Updated : 2017.04.27 17:45