Articles by Jo He-rim
Jo He-rim
herim@heraldcorp.com-
Korean construction firms on alert following Iran’s missile attack against US
Following Iran’s latest attack against American military bases in Iraq, Korean construction companies operating projects in the Middle East are on high alert, according to industry sources Wednesday.Along with safety concerns, industry officials also worry that the security situation in Iraq and Iran would influence Korean construction companies that sought to secure more orders in the region. South Korea’s Ministry of Land, Infrastructure and Transport said it is working with the Mi
Industry Jan. 8, 2020
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Shinsegae Department Store’s Gangnam branch records over W2tr in annual sales
Shinsegae Department Store said Tuesday its Gangnam branch recorded annual sales of 2 trillion won ($1.71 billion) in 2019, becoming the first single store to do so in the retail industry in South Korea.According to Shinsegae, its Gangnam branch in Seoul saw annual turnover exceed 1 trillion won in 2010, hitting the milestone just 10 years after it opened. With the 2019 record, the department store joins the “2-trillion club” to stand shoulder to shoulder with global department
Consumer Jan. 8, 2020
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Positive outlook for Korean shipbuilders in 2020 with new sulfur cap
Korean shipbuilders, which secured over a third of new orders placed around the globe last year, are expected to lead the global industry in 2020 as well, especially with the new maritime cap regulating sulfur emissions, according to industry sources on Tuesday.Five prominent Korean shipbuilding companies recorded a combined $26.2 billion in 2019, fulfilling 81 percent of annual targets, industry data showed.Hyundai Heavy Industries won $12 billion in new orders to build 135 ships, achieving som
Industry Jan. 7, 2020
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Posco to donate A$500,000 for Australian bushfire relief
South Korea’s leading steelmaker Posco will donate 500,000 Australian dollars ($347,000) for Australian bushfire relief via its regional corporation there, the company said Tuesday. According to Posco, the relief fund will be delivered to the Australian Red Cross after the decision passes at its Australian corporate board of directors meeting. “We wish to help relief of the disastrous bushfire and share the burden with Australians,” Posco Chairman Choi Jeong-woo said. Sin
Industry Jan. 7, 2020
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With Cherokee Trailhawk to debut this year, Jeep joins 10,000-unit club
American classic sport utility vehicle brand Jeep sold 10,251 units in Korea in 2019, joining the “10,000-unit club” here for the first time, the company said Monday. The 10,000-unit mark is a standard that measures whether foreign carmakers have made a safe landing here.According to Jeep, it saw a 35.1 percent increase in annual sales last year from the year prior, bringing it to seventh among foreign carmakers and second among imported SUV brands. It is the first time for the
Mobility Jan. 6, 2020
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Samyang Group chairman vows bold investments, M&As in 2020
Samyang Group Chairman Kim Yoon said in his New Year’s address that the company would overcome challenges and prepare for the future this year. During a New Year’s meeting on Thursday, he also vowed to make bold overseas investments, acknowledging that the group’s assets and business activities are overly focused on the Korean market. “Both markets at home and abroad will be much more difficult this year,” Kim said, suggesting four strategies for the group&rsq
Consumer Jan. 3, 2020
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McDonald’s McCafe launches decaf coffee drinks
McDonald’s said Thursday that its coffee brand McCafe has newly launched decaffeinated coffee drinks with the aim of attracting local customers who are sensitive to caffeine and heavy coffee drinkers.According to the company, McCafe will present four decaffeinated coffees -- Americano, McCafe Latte, Cappuccino and Espresso -- to offer a variety of choices for customers seeking to control their daily caffeine intake.The drinks in medium-sized cups cost between 1,000 won ($0.86) and 2,000 wo
Consumer Jan. 2, 2020
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Retailers launch mouse-inspired goods to celebrate ‘Year of White Mouse’
With 2020 marking the “Year of the White Mouse,” retailers rolled out mouse-inspired products, luring consumers with limited edition goods and special marketing in celebration of the new year. Based on the Chinese zodiac, the white mouse is the first of the 12 animals and considered the leader of the mice, symbolizing wealth, fortune and prosperity. Due to ambiguity in the Chinese characters, 2020 may also be referred to as the Year of the Metal Rat. According to Starbucks Korea, it
Consumer Jan. 1, 2020
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Coupang to construct its largest fulfillment center in Daegu
Coupang said Monday it would build a high-tech mega fulfillment center in the Daegu National Industrial Complex, in Daegu. Holding the groundbreaking ceremony, the e-commerce platform said it will invest 320 billion won ($276 million) to build a mega-sized fulfillment center covering 330,000 square meters, that is equivalent to about 45 soccer fields. The construction is expected to be completed in 2021. According to Coupang, the fulfillment center will serve as the key hub in the company&r
Consumer Dec. 30, 2019
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[Best Brand] Powerful-X wins marketing award for contributions in sports industry
Sports beauty company Powerful-X has been recognized for its contributions to the development of the sports industry, winning this year’s Sports Marketing Award given by the Ministry of Culture, Sports and Tourism as well as the Korean Sports and Olympic Committee. The health care cosmetics company, known for its pain relief cream, won at the fifth annual Sports Marketing Award ceremony for athletes, organizations and companies that contributes to development in the sports industry by the
Consumer Dec. 30, 2019
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Keyword for shopping in 2020: ‘Hyolo’
EBay Korea, which operates South Korea’s leading online retailers Gmarket, Auction and G9, chose “Hyolo” as its keyword for shopping trends in 2020, reflecting the increasing number of shoppers living alone and their desire to live life to the fullest. Hyolo combines the Korean word “holo,” which means “alone” in English, and “YOLO,” the acronym for “You Only Live Once.” EBay Korea forecast that the major consumer segment in 2020
Consumer Dec. 30, 2019
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Amorepacific to debut at CES with 3D printing mask pack
Amorepacific said Monday it will participate for the first time in the Consumer Electronics Show, the world’s largest electronics exhibition, next month.The South Korean cosmetics giant will present the 3D Printing Mask Pack, which won the CES Innovation Award in the 3D printing category, and an LED beauty device, which will be released by its brand Makeon next year. The 3D Printing Mask Pack is a hydrogel mask pack manufactured using 3D-printing technology to fit the user’s fa
Industry Dec. 30, 2019
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[Newsmaker] Feud for helm of Hanjin Group intensifies
The family feud for the helm of Hanjin Group, the South Korean conglomerate that owns flag carrier Korean Air, appears to be intensifying as the chairman reportedly kicked up a storm at his mother’s house on Christmas.On Sunday, media outlets here reported that group Chairman Cho Won-tae visited the home of his mother, Lee Myung-hee, in the Jongno area of Seoul on Wednesday with his family. There, he reportedly broke a window and items in the house.The incident reportedly occurred because
Mobility Dec. 29, 2019
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North Korea has 3rd-highest air pollution-related deaths
North Korea ranked No. 3 in the rate of deaths related to air pollution, according to a new report Friday.Radio Free Asia said North Korea recorded 202 pollution-related deaths per 100,000 population, in a report “Pollution and Health Metrics” released on Wednesday by Global Alliance on Health and Pollution. The communist country was ranked behind Chad and Central African Republic, which stood at 287 and 251 deaths per 100,000, respectively. In North Korea, 51,391 died due to polluti
North Korea Dec. 20, 2019
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Seoul says it will not pay for upkeep of US troops outside of Korea
South Korea’s top negotiator for the defense cost-sharing deal with the United States said Thursday that Seoul has made clear it cannot pay for the cost of maintaining US troops stationed outside the country, a concession that Washington is seeking. A day before, Jeong Eun-bo, Korea’s chief negotiator, and his US counterpart, James DeHart, ended their two-day talks without an agreement on renewing the defense cost-sharing deal, called the Special Measures Agreement. “The SMA is
Defense Dec. 19, 2019
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