Articles by Kim Da-sol
Kim Da-sol
ddd@heraldcorp.com-
[Herald Interview] Kayak targets Korea’s travel market with one-stop solution
Finding the cheapest flights for a trip overseas can be a painstaking process. Many have experienced the agony of seeing the price of an airline ticket fall after purchasing it. Browsing online for the best travel deals can also be exhausting.With Koreans traveling more frequently than before, demand has risen for the most efficient way to land the cheapest tickets at the right time. Government statistics showed that at least 26 million people here traveled abroad in 2017, meaning that 50 percen
Industry April 16, 2018
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Coupang records 40% jump in sales
Annual sales of South Korean e-commerce company Coupang jumped 40 percent last year to 2.68 trillion ($2.49 billion), amid its move to strengthen direct buying of foreign goods and solidify its signature Rocket Delivery service. CoupangThe increase in profit has been attributed to reducing the rate of operating loss, calculated by net loss divided by turnover, improving from 30 percent in 2016 to 24 percent last year. It logged 638 billion won in losses as of last year. The company’s gross prof
Industry April 16, 2018
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Hanmi Pharma gives up on development of lung cancer drug Olita
South Korean pharmaceutical firm Hanmi Pharmaceutical is expected to cease development of Olita, a lung cancer treatment, following its slow progress in clinical trials and cancellation of licensing deals with foreign drug makers. According to the Ministry of Food and Drug Safety, Hanmi submitted a plan to end the development of Olita 200 mg and 400 mg. The ministry has given a green light for sales of Olita in 2016, on condition that phase 3 clinical trials data are submitted. Olita, until rece
Industry April 13, 2018
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Police to look into Korean Air heiress over alleged assault
Police said Friday they would look into the heiress of Korean Air’s alleged assault at a company meeting, where she is suspected of throwing a cup of water at an employee of an advertisement company last month. Cho Hyun-min, executive director of Korean Air (Korean Air)Seoul’s Gangseo Police Station launched a preliminary investigation to determine whether there are enough grounds for violations of laws subject to formal investigation. The incident surfaced online Thursday after an anonymous wri
Industry April 13, 2018
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‘Small-giant’ retailer Style Nanda captures eye of L’Oreal
Social network platforms were abuzz with the news of South Korea’s fashion and beauty brand Style Nanda deciding to sell its 70 percent stake to L’Oreal for 400 billion won ($37 billion) on Tuesday. Style Nanda CEO and Founder Kim So-hee (Kim So-hee instagram)Industry insiders said it is a representative case of the global beauty giant recognizing the brand power of a Korean label, particularly in the Chinese market.According to Swiss financial services company UBS, Style Nanda’s deal partner,
Industry April 11, 2018
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Incheon Airport touted as convenient service provider for PyeongChang Olympics, Paralympics
Incheon Airport successfully achieved the role of a transport hub during the 2018 PyeongChang Winter Olympics and Paralympics in February and March, the airport said, citing feedback from Olympics athletes and related officials. Incheon International Airport CEO Chung Il-young (left) shakes hand with International Paralympic Committee President Andrew Parsons at Incheon Airport in March. (IIAC)South Korea‘s main gateway operated special arrival and departure services exclusively for Olympics te
Industry April 11, 2018
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‘Irreversible’ change expected in Samsung when uncertainty is cleared: FTC chief
South Korea’s top conglomerate Samsung Group is likely to make an “irreversible” change after uncertainty over the fate of its de facto head is cleared, the head of the nation’s antitrust watchdog said Tuesday, referring to an upper court’s ruling on Samsung Electronics Vice Chairman Lee Jae-yong.FTC Chairman Kim Sang-jo (Yonhap)The Supreme Court has been reviewing Lee’s case since last month. It is expected to take up to about six months to hand down the final ruling on Lee, who was freed on a
Industry April 10, 2018
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Korea Yakult achieves sales of W1tr in 2017
Korea Yakult, a household name in the yogurt and fermented dairy product market in Korea, said it achieved sales of 1 trillion won ($940 million) in 2017, five years after it spun off its instant noodle division Paldo. Korea Yakult’s fermented milk products (Korea Yakult)In 2012, Korea Yakult spun off Paldo following the release of its hit chicken-based instant noodles Kkokkomyeon in 2011. Korea Yakult’s sales after the spin-off dwindled to around 900 billion won. According to data from the Fin
Industry April 9, 2018
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GS E&C’s operating profit surge 544 percent in Q1
GS Engineering & Construction said Monday that its first-quarter operating profit jumped more than fivefold compared to its profit on-year.From January 1 to March 31, the company made a total of 380 billion won ($356 million) of operating profit, a 554.75 percent jump from the previous year, according to GS E&C. Its operating profit has been showing a positive figure for 16 consecutive quarters, it added. The company said a sharp increase in operating profit is attributable to constant gain from
Industry April 9, 2018
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Air purifier sales forecast to reach 3 mil mark this year
Air purifiers are the most wanted home appliance electronics this year amid escalating concerns over bad levels of fine dust and indoor air pollution, industry watchers said, forecasting its sales to reach up to 3 million units by the end of this year.Sales of air purifiers have been increasing since 2014. A total of 1.4 million units of air purifiers were sold last year, up from 1 million in 2016, 870,000 units in 2015 and 500,000 in 2014. The sales rise is expected to continue as the South Kor
Industry April 8, 2018
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Shinsegae eats up Korea’s retail industry with aggressive expansion
Since 2016 when Shinsegae Vice Chairman Chung Yong-jin separated and began to run the management of E-Mart, a retail unit of Shinsegae group, E-Mart and its private brand products have never been so ubiquitous in the everyday lives of South Koreans. Shinsegae Group Vice Chairman Chung Yong-jin (Yonhap)While the number of E-Mart stores decreased by two to 145 in 2017 compared to the previous year, its product lineups became more diversified with launches of packaged ready-to-eat food brand Peacoc
Industry April 5, 2018
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Shin Ramyun now available at Switzerland’s Matterhorn
South Korean food and beverage company Nongshim’s best-selling Shin Ramyun is now available at the top of the Matterhorn in Switzerland. Tourists pose with Shin Ramyun at Jungfrau in Switzerland. (Nongshim)Sources said that a kiosk in Matterhorn’s Gornergrat observatory began selling Shin Ramyun last month, upon the request of the Switzerland tourism office covering the canton of Valais.In May 2016, the tourism authority allowed the sale of Korean instant noodle maker Ottogi’s Jin Ramen there, f
Industry April 4, 2018
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Electro Mart targets to open 10 more outlets by year-end
Discount chain E-mart’s Electro Mart said Tuesday that it would open 10 more outlets and achieve 500 billion won ($470 million) in sales by the end of this year.Electro Mart, which specializes in electronics, was launched in 2015 and currently runs 20 outlets across the country, including one in Changwon, South Gyeongsang Province, slated to open Friday. The company said its sales reached 337 billion won last year, rising twofold over just a year. Officials said they expect sales to hit 500 bill
Industry April 3, 2018
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WeMakePrice’s 2017 sales jumps 28 percent
Annual sales of South Korean e-commerce company WeMakePrice jumped 28 percent last year to 473 billion won ($445 million), well exceeding its competitors’ sales growth average of 19.2 percent, the company said Tuesday. WeMakePrice (WeMakePrice)The increase in sales has been attributed to reducing operating losses, as it logged 41.7 billion in losses, a 34.4 percent drop from last year.Its operating loss rate, calculated by net loss divided by turnover, recorded 8.8 percent, in the single digits
Industry April 3, 2018
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Starbucks Coffee Korea launches order service via Samsung’s Bixby
Starbucks Coffee Korea said Tuesday that customers are now able to order menu items via voice commands to Bixby, Samsung’s artificial-intelligence based virtual assistant, which has been linked to Starbucks Coffee Korea’s mobile order and payment app Siren Order. A model orders from the Starbucks menu via Samsung’s Bixby. (Starbucks Coffee Korea)“Customers can order as if they are talking to a barista at our Starbucks store, such as asking for more syrup or extra whipping cream,” said a Starbuck
Industry April 3, 2018
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