SPC Samlip, a bakery and restaurant franchise giant, said Friday it has appointed Hwang Jong-hyeon as its new chief executive. SPC Group, the holding company, said it has also appointed Ahn Ji-yong as the new CEO to lead its subsidiary SPC GFS. Hwang served as the CEO of Samjin Eomuk, a fish cake maker, and previously worked for Dongwon F&B, the food division for Dongwon Group, for 30 years to lead numerous mergers and acquisitions and contributed to the growth of Dongwon’s dairy

Consumer March 27, 2020

Lotte Shopping said Friday it plans to undergo major restructuring, including shutting down money-losing stores and sluggish businesses, while taking measures to strengthen its e-commerce platform. Lotte Shopping operates the retail unit of Lotte Group, including the department store and mart. During its general shareholders meeting held in Seoul, Lotte Shopping CEO Kang Hee-tae announced improving profitability as the company’s utmost priority this year. “While we expect a dif

Consumer March 27, 2020

Baemin Order, an ordering and payment service for restaurants, accumulated over 2 million orders in five months since its launch in November, its operator Baedal Minjok said Friday. Baemin Order, which can be accessed through the Baedal Minjok delivery app, is a service in which users can order and pay for food in advance of a visit to a restaurant. This service allows users to either pick up the food or dine in at the restaurant without making contact with a server, Baedal Minjok explained.

Consumer March 27, 2020

The COVID-19 pandemic has changed daily life for many, driving society to endorse “social distancing” and putting people to work remotely, spending most of their time at home. For many in Korea, well known for its binge-drinking and hoesik (nighttime drinking gatherings) culture, things appear to have changed significantly, as the latest data shows more opting to drink at home. “(Because of COVID-19) I had many of my hangout plans canceled, and it was disappointing at firs

Consumer March 26, 2020

E-commerce giant Coupang said Wednesday it will install Automotive Around View Monitoring system in all its vehicles to aid its delivery staff. The monitoring system allows the driver to get a 360-degree exterior view on the screen, using four cameras mounted underneath the outside mirrors. According to the company, it will complete installing the system in all vehicles before July. It is the first company in the logistics industry to introduce the technology for delivery workers, the compan

Consumer March 25, 2020

The COVID-19 outbreak is dealing a blow to farms and fisheries, particularly straining their supply plans for school feeding. In efforts to support the agro-fishery industry, the country’s major retailers stepped up to embark on various promotions to clear out stock on Wednesday. According to the Ministry of Agriculture, Food and Rural Affairs on Monday, the recent government decision to postpone the opening of schools for two more weeks until April 6 would lead to damages to about 40

Industry March 25, 2020

South Korea’s largest steelmaker Posco is actively participating in relief efforts for regions affected by the COVID-19 outbreak, the company said Wednesday. Posco, which has its main headquarters and a number of factories in one of the hard-hit region of North Gyeongsang Province, has donated 5 billion won ($4.06 million) for support on Feb. 27, about a month after it delivered relief goods worth 1 billion won to China. According to the company, Posco group delivered 4 billion won, wh

Industry March 25, 2020

The Korean-German Chamber of Commerce and Industry said Tuesday that donations amounting to 1.06 billion won ($84,300) have been made by 14 German companies and eight individual members to support those affected by the COVID-19 outbreak here. According to KGCCI, the proceeds have been donated directly or via the Korea Red Cross, Hope Bridge Korea Disaster and Community Chest of Korea to provide hospitals, disaster response facilities as well as self-isolated people and vulnerable low-income f

Industry March 24, 2020

Pulmuone said Tuesday that its annual sales of Asian noodles in the US reached $30 million in 2019, a sixfold increase in the last four years. The Korean fresh food company, which leads the US tofu market, entered the Asian noodle market in the US in 2015 with premium fresh noodle products, posting annual sales of $5 million in the first year. Led by the solid performance of Black Bean Sauce Noodles and Teriyaki Stir-fry Udon distributed in Costco stores, sales continued to rise, and in 2019

Consumer March 24, 2020

McDonald’s Korea said Monday it will provide free burgers and pies to volunteers and those vulnerable in Seoul’s Guro-gu, where a cluster infection of COVID-19 recently emerged from a call center. According to the burger chain, it will deliver 2,000 McChicken sandwiches and 2,000 pie products, including corn and apple pies, via the Community Chest of Korea to Guro. The food will be offered to the district disinfection volunteers and 44 community centers, including dwelling faciliti

Consumer March 23, 2020

Shinsegae Department Store said Monday it is introducing three types of shopping carts from Tuesday. According to the retail giant, the three carts each have different features. One is designed for safekeeping bags. Another has a baby seat. The last type caters to small purchases. The cart with a space to store purses is covered with water-proof fabric to prevent shoppers’ designer bags from getting scratched, Shinsegae said. Shinsegae explained that customers had often held onto th

Consumer March 23, 2020

Tri-Stone Korea said Monday it has inked a memorandum of understanding with North Jeolla Province and Iksan City, for establishing a manufacturing facility in the Foreign Investment Zone. The low-carbon ferrochrome manufacturer -- a joint venture with PSITC -- said it signed the agreement on March 16 to enter the industrial space of 2.8 million square meters, stretching across Samgymyeon and Nangsanmyeon in Iksan. “Given the excellent location, adjacent to the Gunsan Port and Saemange

Industry March 23, 2020

In the wake of the COVID-19 outbreak across South Korea, more people appear to be buying cleaning appliances as hygiene concerns rise, according to the retail industry Sunday. According to figures released by the country’s largest retail chain E-mart, dryers and garment care appliances saw sales go up by 26.6 percent and 38.5 percent, respectively, from Jan. 20 to Thursday, compared to the year earlier. Jan. 20 is the day the first COVID-19 patient was confirmed in Korea. Fabric care

Consumer March 22, 2020

Diageo Korea said Thursday it had donated 200 million won ($154,700) to the Korea Red Cross to support culnerable people facing difficulties amid the COVID-19 outbreak. The South Korean branch of British liquor firm said it delivered the fund on Wednesday, to support households, old people and children that are affected either directly or indirectly by the epidemic crisis. The fund is to be used in providing hygiene products and daily necessities, the company said. The liquor maker also del

Industry March 19, 2020

While industry sectors across the board in Korea are struggling to handle the economic impact of COVID-19, the nation’s 5.48 million self-employed and small business owners are among those suffering most. Oh Myong-seok, who has been running a 24-hour diner in Yongsan, Seoul, for seven years, is experiencing its worst-ever slump, as the store has seen its daily customer figures cut in half. “For night times from 9 p.m. to 9 a.m., revenue has been halved, for day times it has been

Industry March 18, 2020