[Best Brand] SNP continues success with overnight sleeping masks

Cosmetics/ SD BiotechnologiesCosmetics and skin care brand Shining Nature Purity continues to succeed in the market with its latest sleeping pack series that comes in single-use packaging. SNP is SD Biotechnologies’ cosmetics line that has entered the skin care market with its sleeping mask products. In 2015, their sleeping masks contributed to an eightfold increase in the company’s sales from 2014. SNP’s latest sleeping pack series comprises three types: SNP Gold Collagen

IndustryDec. 30, 2019

Regulator to begin antitrust review of Delivery Hero's acquisition of Woowa

South Korea's corporate regulator said Monday it will begin an antitrust review of a $4 billion deal by Germany's Delivery Hero to acquire the nation's largest food delivery app operator, Woowa Brothers. The Fair Trade Commission said it has received documents from the two firms for an antitrust review, which could take at least 120 days. The FTC will review whether the planned acquisition would hurt competition in the nation's food delivery app market. An FTC official said the regulator will &q

IndustryDec. 30, 2019

Kospi falls below 2,200, Kosdaq rises near 670 in 2019 finale

South Korea’s stock market continued its sluggish performance on Monday -- the last trading day of 2019 -- amid a lack of significant momentum. The benchmark Kospi closed at 2,197.67 points, down 0.30 percent, or 6.54 points, from the previous session, according to stock market operator the Korea Exchange. The figure however rose by 8.53 percent, or 187.57 points, from the first trading session of the year -- which closed at 2010.  Korean shares opened nearly flat on the day as invest

MarketDec. 30, 2019

[Best Brand] Lotte Card launches I’m DRIVING for frequent drivers

Credit card/ Lotte CardFor customers driving long distances, Lotte Card, a major credit card company in the nation, has launched the I’m DRIVING card that offers discounts at gas stations across the country and other auto-related benefits.Two types of the new credit card are offered -- DC One and DC All. For the DC One type, customers can choose one of four oil retail brands -- SK Energy, GS Caltex, Hyundai Oilbank and S-Oil -- or choose either weekdays or weekends as an option, to get a d

MarketDec. 30, 2019

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

ConsumerDec. 30, 2019

ULikeKorea taps global horse health care market

Livestock health care company uLikeKorea on Monday announced a new patch type diagnosis device for horses, signaling its intent to make inroads into the global horse health care market worth $300 billion with 60 million horses. Coinciding with the portfolio expansion, uLikeKorea said it has established the Livecare Denmark office in Copenhagen.  “The patch-type device for horses, developed for the first time in the world, predicts diseases and monitors activity levels,” said uLi

IndustryDec. 30, 2019

[Best Brand] Lotte Duty Free adopts ‘art’ marketing for beauty brands

Celebrating its 40th anniversary next year, Lotte Duty Free is preparing for art and cultural marketing activities in collaboration with artists and beauty brands. The leading duty-free shop recently unveiled an art collaboration with British artist Steve Wilson, who made his fame by working with international brands, such as Hermes, Karl Lagerfeld and Nike. He is also a pop artist recognized for extending the boundaries of contemporary art by crossing borders of art, typography and graphic desi

IndustryDec. 30, 2019

[Monitor] South Korea’s conglomerates continue to dominate trade

A handful of large companies in South Korea continued to dominate the country’s exports and imports, according to data released by the Korea Customs Service and Statistics Korea.As per the export data, 805 large companies -- just 0.8 percent of total exporting firms -- accounted for 66.6 percent in 2018, an on-year increase of 0.3 percentage point.The value of imports by 1,092 large businesses increased by 0.2 percentage point to reach $323 billion, having a 61 percent share of all imports

Dec. 30, 2019

Netmarble chases risky smart home sector with Woongjin Coway purchase

Netmarble’s acquisition of water purifier rental firm Woongjin Coway on Monday is facing skepticism from investors who feel it should focus on its core competencies to prove further growth potential.The South Korean game company revealed its intention to branch out to a whole new business field in October, when it was named the preferred bidder for a 25.08 controlling stake in Coway. Netmarble CEO Kwon Young-sik had said in a conference call with investors that the acquisition is a part of

IndustryDec. 30, 2019

Samsung to debut artificial human Neon at CES 2020: reports

Samsung Electronics is expected to unveil another artificial intelligence platform, named “Neon,” at the Consumer Electronics Show next month, according to reports on Monday. It was developed by Samsung Technology and Advanced Research Lab, based in the United States, under the leadership of the unit’s President Pranav Mistry, the youngest executive at Samsung. Neon is likely to be introduced as a new AI platform of Samsung. A recent tweet on the unit’s official Twitter a

TechnologyDec. 30, 2019

Woori Financial chief recommended for 2nd term

Woori Financial Group Chairman and Woori Bank CEO Sohn Tae-seung is likely to pursue a second term as head of the financial holdings company. On Monday, a group of outside directors responsible for selecting leadership candidates recommended Sohn as the sole candidate for the group’s next chairman position, citing the stability of its operations as a holding company. If the recommendation is approved at the shareholders meeting in March 2020, Sohn will serve another three years as the grou

MarketDec. 30, 2019

[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

ConsumerDec. 30, 2019

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

ConsumerDec. 30, 2019

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

IndustryDec. 30, 2019

W4.1tr Korean hedge fund Lime Asset faces fraud accusations

The Financial Supervisory Service, South Korea’s financial watchdog, intends to take legal action against Lime Asset Management, a Korean hedge fund that manages 4.1 trillion won ($3.5 billion) worth of assets, on allegations that it concealed losses from its investors.The news comes as its 600 billion won fund dedicated to trade finance was found to have been associated with a debacle involving New York-based investment adviser International Investment Group, which was accused of running

MarketDec. 30, 2019

FSS fines KEB Hana W3b for misselling ETNs

South Korea’s financial watchdog on Monday fined KEB Hana Bank, one of four major commercial banks here, nearly 3.2 billion won ($2.7 million) for selling exchange-traded notes without providing sufficient information to customers. According to the Financial Supervisory Service, KEB Hana violated the Financial Investment Services and Capital Markets Act by allowing its 140 local branches to recommend and sell high-risk exchange-traded notes through bank trusts to its clients who were unawa

MarketDec. 30, 2019

Fiscal chief expresses optimism on economic rebound in 2020

The government on Monday expressed confidence that the South Korean economy will rebound in 2020, dispelling market concerns on the various growth forecasts.It also assessed that the latest mortgage loan restrictions have already been effective in reining in the overheated housing market. “I am confident that our economy may rebound next year and I am not just saying this out of personal sentiments or wishful thinking,” said Deputy Prime Minister and Finance Minister Hong Nam-ki, in

EconomyDec. 30, 2019

[Best Brand] Mirae Asset Daewoo banks on diversified global investment

Mirae Asset Daewoo / Securities firmSouth Korean brokerage Mirae Asset Daewoo said Monday it had expanded its presence by creating synergy with multiple businesses -- such as investment banking and trading in Korea and abroad -- and diversifying its investment portfolio. Mirae’s capital surpassed 9 trillion won ($7.76 billion) at the end of the third quarter this year. Its net profit came to 123.9 billion won in the same period, making it the country’s first securities firm to mark a

MarketDec. 30, 2019

[Photo News] Small businesses oppose sell-off of Baemin

Jeon Soon-ok (center), chairperson of the ruling Democratic Party’s special committee on small businesses, and representatives of microbusinesses hold a press conference at the National Assembly on Monday opposing the sell-off of South Korea’s top food delivery application. Debate ensued after an announcement earlier this month that Germany-based online delivery service provider Delivery Hero would acquire an 87 percent stake in Woowa Brothers, the operator of delivery app Baeda

IndustryDec. 30, 2019

Hanjin family apologizes for family quarrel

Hanjin Group Chairman Cho Won-tae and his mother Lee Myung-hee have publicly apologized for a family quarrel that broke out last week. “We sincerely apologize for causing trouble at Lee’s house last Christmas,” they said in the written statement released Monday. The public apology comes after Cho visited Lee’s home on Christmas day and had a quarrel with her. The photo revealed by Lee on the day showed pieces of shattered glass scattered on the floor and a wound on h

IndustryDec. 30, 2019