Articles by Kim Da-sol
Kim Da-sol
ddd@heraldcorp.com-
Online sales at Lotte Duty Free to surpass W3tr
Lotte Duty Free’s online sales are expected to surpass 3 trillion won ($2.5 billion) by the year-end, exceeding its target of 2.9 trillion won, according to the company. In the first half of this year, Lotte Duty Free recorded 1.42 trillion won in sales at its online mall, a 49 percent jump year-on-year.Last year, Lotte Duty Free raked 2.14 trillion won in online sales, up 46.3 percent from the previous year, the largest sales of an online duty-free outlet in the world.The company&rsq
Industry Dec. 24, 2019
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[Newsmaker] Hanjin Group siblings up ante in battle for throne
A family war is brewing in Hanjin Group, one of Korea’s vast conglomerates which also owns flag carrier Korean Air, with siblings battling to assume management control. Late Chairman Cho Yang-ho’s eldest daughter Cho Hyun-ah is stepping up her attack against her younger brother and present Chairman Cho Won-tae, hinting at continued dispute about succession.Former Korean Air Vice President Cho Hyun-ah said in a statement Monday via a law firm that “ Cho Won-tae’s busi
Industry Dec. 23, 2019
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Orion taps Lee Seung-jun as new president
Korean confectionery company Orion said Monday it has tapped Vice President Lee Seung-jun as its new chief. Lee has served as head of Orion’s research and development center. He was promoted to president and will also head the company’s global R&D center, Orion said. After joining the company in 1989, he played key roles at product development and R&D teams in China as well as supervised megahit products including its signature corn chip Kkobup Chip, Market O Granola, Fr
Industry Dec. 23, 2019
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Mahindra chief set to retire amid talks on fate of SsangYong Motor
Following the massive executive reshuffle at Mahindra & Mahindra, an Indian auto giant that acquired SsangYong Motor in 2010, market insiders are speculating whether it will hamper investments in its ailing South Korean subsidiary. According to the Indian company, current Chairman Anand Mahindra will complete his term and take over a non-executive role as a chairman of the board of M&M from April 1. The group said that he will serve as a mentor and the board’s managing director to
Mobility Dec. 22, 2019
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Hyundai Glovis strives for quantum jump as global logistics firm
Hyundai Glovis, a logistics arm of Hyundai Motor Group, will strive to expand its logistics business via global network it has established this year, as well as make a “quantum jump” by penetrating into new markets in 2020, according to the firm. Under the 2020 vision, Hyundai Glovis said it will expand its non-subsidiary logistics business in the next year to step up as a global logistics firm. This year alone, Hyundai Glovis has clinched three partnerships with Chinese fi
Industry Dec. 22, 2019
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Lotte Group braces for changing retail landscape with massive exec reshuffle
South Korea’s fifth-largest conglomerate Lotte Group carried out a sweeping executive reshuffle Thursday to respond to the changing retail business landscape, with Lotte Department CEO Kang Hee-tae being promoted as head of the retail business unit.In a drastic annual year-end reshuffle, led by Lotte Group Chairman Shin Dong-bin, the group replaced a quarter of 608 senior executives, to brace for digital transformation amid the surge in e-commerce. It was the first executive reshuffle led
Industry Dec. 19, 2019
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Hanwha Energy taps Vietnam’s energy market
Hanwha Energy said Thursday that it has joined hands with Korea Gas Corp. (Kogas) and Korea Southern Power (Kospo) to cooperate in infrastructure development projects for a gas plant and liquefied natural gas terminal in Vietnam.The affiliate of Hanwha Group plans to build a terminal for LNG imports and a power plant to produce electricity in Vietnam, where power supply and demand imbalance is a severe problem. In the case of Vietnam’s southern region, although half of the country’s
Industry Dec. 19, 2019
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Han Sung Motor sells artistic goods at Seoul Design Festival for donation
Han Sung Motor, an official local dealer of Mercedes-Benz in Korea, said it had sold artistic goods at its booth at the 2019 Seoul Design Festival to help children in need.The five-day annual event that kicked off on Dec. 4 involved rising artists and young designers as well as collaborative projects between art groups. Han Sung Motor participated by arranging a collaboration project between its Dream Gream scholarship students and local design studio Maeum.Dream Gream is a schol
Mobility Dec. 18, 2019
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Jeju Air to acquire budget airline Eastar Jet at W69.5b
Jeju Air, the country’s largest low-cost carrier by sales, said Wednesday that it had signed a deal to acquire 51 percent stakes in Eastar Holdings, the largest shareholder of a budget carrier Eastar Jet, in an apparent move to broaden its market share by absorbing an ailing air carrier. Earlier this year, cosmetics-to-airline conglomerate Aekyung Group, which owns a 56.9 percent stake in Jeju Air, failed to takeover debt-ridden Asiana Airlines after the HDC Hyundai Development-Mirae
Industry Dec. 18, 2019
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Asiana introduces mobile service to check baggage loading status
Asiana Airlines said Wednesday it has introduced a mobile service for passengers to check whether their baggage is safely loaded.Those who fly with Asiana can check the status and the location of the baggage real-time via the carrier’s mobile application.The service will enhance passenger convenience and minimize the departure delay as location of luggage can be tracked during emergencies and baggage can be easily removed when the passenger gets off the plane, the company said.While the se
Industry Dec. 18, 2019
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McDonald’s Korea manager touches heart with story of helping disabled customer
McDonald’s Korea Managing Director Melanie Cho visited a store on Jeju Island to express her appreciation to a store manager there for helping a young customer who was terminally ill and offering him an unforgettable restaurant experience, the company said Wednesday. According to McDonald’s Korea, Lee Sung-min, a 20-year-old store manager of Nohyung branch in Jeju, helped a family with a child suffering from polio in May. He moved the family’s seat to a more comfortable ch
Industry Dec. 18, 2019
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S-Oil lauds promising scientists, pledges research funds
South Korean oil refiner S-Oil said Tuesday that it has awarded 20 doctorate researchers and science professors and contributed funds to six young rising scientists. S-Oil Science and Culture Foundation, a public trust established by the oil refiner, wholly owned by Saudi Aramco in 2011, said it held a ceremony to award outstanding science thesis and young rising scientists. A total of 10 doctorate researchers and 10 science professors in the field of mathematics, physics, chemistry, l
Industry Dec. 17, 2019
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Amorepacific partners with US vegan cosmetics firm Milk Makeup
South Korea’s Amorepacific Group and US vegan cosmetics company Milk Makeup are partnering in the areas of marketing and business operations, the Korean firm said Tuesday.Milk Makeup, established in New York in 2015 as a cruelty-free and 100 percent vegan cosmetics firm, is popular for its “clean beauty” concept. Its products are sold in major markets via personal care and beauty chain Sephora and online retailer Cult Beauty. Market sources estimated that Milk Makeup will
Industry Dec. 17, 2019
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Instant porridge market gains steam in 3 years
With home meal replacement products gaining popularity in South Korea, the instant porridge market has also grown immensely -- twofold growth since 2015, and is estimated at over 88.5 billion won ($75.5 million) last year, according to data from Korea Agro-Fisheries & Food Trade Corp. Monday. The market for instant porridge has gradually expanded from 2015, when it was valued at 41 billion won, and grew to over 70.7 billion won in 2017, the data showed. Officials said that it will grow
Industry Dec. 16, 2019
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Japan sees exports to Korea fall, but Korean firms unaffected
Six months after Japan’s restrictions on exports to South Korea, its exports to Korea fell by 14 percent on-year, while South Korean export to Japan dropped by 7 percent, indicating Japan’s larger damage in outbound shipments, data showed Sunday. According to the governments and industries in two countries, from July to October, Japan’s export shipments to Korea came at around $15 billion, which fell by 14 percent on-year. Over the same period, South Korean export shi
Industry Dec. 15, 2019
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