Articles by Kim Da-sol
Kim Da-sol
ddd@heraldcorp.com-
Global advisory firm takes side with KT&G for its CEO reappointment
While debate lingers between shareholders over whether the South Korean tobacco maker KT&G’s current chief Baek Bok-in should be reappointed, a global proxy advisory firm Institutional Shareholder Services spoke in favor of Baek’s reappointment, industry sources said Wednesday. KT&G CEO Baek Bok-in (KT&G)Prior to the shareholders meeting slated for March 16, the state-run Industrial Bank of Korea -- the second-largest single shareholder of KT&G with a 6.9 percent stake -- has proposed for a conf
Industry March 7, 2018
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Minor collision of Korean Air plane delays departure
Korean Air’s airliner KE011 en route to Los Angeles crashed into the tail of a different Korean Air plane inside the parking ramp. Takeoff was delayed for more than three hours. Korean AirAccording to Korean Air, the plane was being dragged by the tow car inside the parking ramp at Incheon International Airport on Tuesday at around 8:20 p.m. The plane was getting ready to be moved to the runaway for taxiing, the company said. While 292 passengers and 24 flight attendants were on board the plane
Industry March 7, 2018
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Coway expanding business overseas
South Korea’s leading water and air purifier maker Coway said it will make an aggressive move to expand its overseas market base this year. An official at Coway Malaysia explains a product to a customer. (Coway)According to the company, it aims to hit the target of 520 billion won ($480 million) of overseas sales in 40 countries this year, about 26 percent up from the previous year’s target. Overseas sales include the sales from overseas branches and original design manufacturing production, the
Industry March 6, 2018
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OB’s Brazilian CEO gets Korean name
Oriental Brewery, the Korean affiliate of the world‘s largest beer maker AB InBev, said Tuesday that its Brazilian CEO Bruno Cosentino has been given the Korean name Ko Dong-woo. Oriental Brewery CEO Ko Dong-woo (OB)The 45-year-old CEO, who took the post in January, is a veteran beer expert with over 20 years of experience at AB InBev. Until recently, he served as the vice president of AB InBev’s Asia-Pacific branch.OB said his name was made based on Korean traditional fortune telling. The Chine
Industry March 6, 2018
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Popularity of clothes dryers, steam closets changes home appliance market
Increased consumer interest in keeping clothes hygienic in a convenient way is changing the home appliance market, with clothes dryers and steam closets continuing to see sales growth. The LG TROMM clothes dryer and TROMM Styler (E-Mart)Both clothes dryers and steam closets had long been seen as supplementary or niche items here. But with changing lifestyles and shifting priorities of consumers, the two appliances have increasingly become more of a necessity than a luxury, industry watchers said
Industry March 5, 2018
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Creditors move to sell Kumho Tire to China’s Doublestar
South Korea’s troubled tire maker Kumho Tire will take steps to sell its majority stake to China’s Qingdao Doublestar, a state-run creditor bank said Friday. Korea Development Bank Senior Vice President Lee Dae-hyun speaks at a press conference on its deal with China‘s Double Star over the fate of Kumho Tire, in Yeouido, Seoul, Friday. (Yonhap)According to Korea Development Bank, it will push ahead with a plan to sell it to the Chinese tiremaker for 646.3 billion won ($597.4 million) and close a
Industry March 2, 2018
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Popularity of raw noodles grows
With continued demand for instant noodles, South Korean retailers recorded an increase of sales of raw products, data showed Friday. Pulmuone’s noodle products (Pulmuone)One major food company in that business is Pulmuone, which saw 844 million won ($780,000) of sales of ready-to-cook raw noodle products last year, 11.4 percent jump from the previous year. Pulmuone currently tops the local raw noodle market with a 27 percent market share as of 2017. While udon noodles -- a 230 billion won marke
Industry March 2, 2018
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Burger King raises prices of 12 menu items
Fast-food chain Burger King said Thursday that it would raise the price of 12 menu items here by 100 won (9 cents) from Friday. A Burger King store (Burger King)The items are 10 burgers, such as the signature Whopper, Cheese Whopper and Bulgogi Whopper, and two sides including coconut shrimp. With the increase of 100 won, or an average price increase of 0.3 percent, a single Whopper is to be sold at 5,700 won. However, if purchased as a set, the price is the same at 7,700 won.The company said t
Industry March 1, 2018
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Sales of air purifier, masks soar as fine dust season approaches
Sales of products designed to filter fine dust skyrocketed in recent weeks following a warmer climate and the fine dust season approaching, an industry data showed. Seoul's grey sky (Yonhap)According to online shopping mall 11st, sales of masks soared 346 percent year-on-year from Feb. 21 to 27 when Seoul’s ultra-fine dust concentration levels exceeded 50 micrograms per cubic meter. Sales of air purifiers also increased by 81 percent on-year. Sales of houseplants known to filter indoor air such
Industry March 1, 2018
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Creditors postpone discussion on fate of Kumho Tire to end of March
Creditors of South Korean tire maker Kumho Tire decided to postpone the discussion on the fate of the troubled tire maker, allowing the company to avoid being put into the court receivership. Kumho TireAccording to the state-run creditor Korea Development Bank, creditors held a meeting on Wednesday and decided to postpone adjusting the debt repayment schedule to end of Mach. They also did not accept the company’s self-rescue plan for business normalization, due to lack of sufficiency, KDB said.
Industry March 1, 2018
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Samsung C&T appoints former GE executive to board
Samsung C&T said Wednesday that it has appointed former General Electric Chief Productivity Officer Philippe Cochet, 58, as a new member of the board of directors, as it attempts to diversify its leadership and improve governance. Philippe Cochet (Samsung C&T)The French executive will serve as the non-executive director from March. He is the first foreign board member of the company.The company said it will continue to bring in more global talents and female board members in the next year.Wedne
Industry Feb. 28, 2018
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Fila Korea to give W120m reward to Korean women’s curling team
South Korean sportswear brand Fila Korea will provide a 120 million won ($110,400) reward to the South Korean women’s curling team that won silver at the 2018 PyeongChang Winter Games, marking the country’s first Olympic medal in the sport. South Korean women's curling team (Yonhap)The company said Wednesday that the reward was intended to encourage the curling team and motivate them to achieve higher goals in the future.The prize money will be given to the team’s members via the Korea Curling F
Industry Feb. 28, 2018
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Amorepacific named Korea’s most respected company
Amorepacific, Korea’s leading cosmetics maker, has been selected as the most respected workplace in the local cosmetics industry for the third straight year, a survey showed. AmorepacificAccording to the Korean Management Association Consulting, which surveyed more than 12,000 industry workers and human resources specialists, Amorepacific scored high in criteria such as innovation ability, shareholder value, employee satisfaction, customer value as well as social image, topping the cosmetics pr
Industry Feb. 28, 2018
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[Photo News] BAT Korea hosts talk concert
British American Tobacco Korea said Tuesday that it successfully hosted the “BAT MAN” talk concert to support the young generation’s challenges in achieving their dreams. The company ran a six-month contest, through which 10 teams made it to the finals. One finalist was awarded 10 million won ($9,300). Gary Tarrant, head of legal and external affairs, said BAT Korea would continue to host such programs to hear more from the young generation and support their endeavors. (BAT Korea)
Industry Feb. 27, 2018
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CJ Group chairman named chairman of Korea Employers Federation
CJ Group Chairman Sohn Kyung-shik was named the seventh chairman of the Korea Employers Federation on Tuesday.According to the federation, five members of a selection committee held a meeting and appointed Sohn as the next chairman among three other members. Sohn was in India for a business trip when he was selected. CJ Group Chairman Sohn Kyung-shik (Yonhap)“I feel a grave responsibility to serve as the chairman of the KEF at this crucial time,” said Sohn, according to CJ Group.“Based on my ex
Industry Feb. 27, 2018
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