Umicore eyes more investment in Korea

This is the sixth in a series of articles about promising foreign-invested companies. ― Ed.The future market for rechargeable battery materials will be centered in Asia, according to Eric Van den Broeck, the general manager of Umicore Korea Ltd. Van den Broeck joined Belgium-based Umicore Group in 2002 and Umicore Korea Ltd. in 2010.Belgium-headquartered Umicore Group, a global materials technology and recycling company, has been listed on the NYSE and Euronext Brussels with a market capitalizat

Sept. 23, 2013

Franklin Templeton prioritizes investment education

Investing in stocks or bonds has long been regarded as a privilege of the very few people with the money and knowledge of the ins and outs of Korean markets.It is still the minority that wins big gains while the majority –- the middle class -- with less money refrains from investing due to fears of losing big in the short term.The domestic unit of Franklin Templeton Investments, however, seeks to turn this tide so the majority can make gains through education on value and bottom-up investing.“Li

Sept. 23, 2013

‘Korea best testbed for senior care products’

  There are multiple factors that a foreign company must take into account before making a huge investment overseas: operational costs, market demographics, logistics and manpower, to name a few. For Kimberly-Clark Corp, the world’s leading manufacturer of baby care and paper products, it was Korea’s futuristic market and customer trends that led it to set up the Global Innovation Center Asia in Yongin, Gyeonggi Province, in 2006. The company has some 60 regular foreign and local employees.Best

Sept. 9, 2013

‘Now is not time to buy core assets’

The global asset market has lost steam amid the prolonged global economic slowdown, and the Korean market situation is not faring much better.But this does not mean investors should wait until the mist clears, according to a top strategist at the U.S.-based LaSalle Investment Management. “Now is not time to buy core ― it is very expensive,” said Paul Guest, Asia-Pacific head of research and strategy of the company, in an email interview with The Korea Herald. “But there are plenty of near-core a

Aug. 27, 2013

Executives on doing business in Korea

The Korea Herald asked CEOs and senior executives at multinational companies here about their views on the business environment in Korea. – Ed.RespondentsA total of 103 executives responded from July 1 to Aug. 11.

Aug. 13, 2013

Lab Series bullish on Korean market

Lab Series, the leading skincare brand only targeting men, is betting big on Korea whose style-conscious male customers make up almost one-fourth of the brand’s global sales every year. Over the past three years, Korea has been the No. 1 market for the New York-based brand affiliated with Estee Lauder Group. “Korea is a pilot market. The head office is also paying keen attention to the grooming trends here,” said Kim Byung-ick, brand general manager at Estee Lauder Companies Korea, also known as

Aug. 12, 2013

Amway internship lures Korean talent

Amway, a leading direct marketing company based in Michigan, U.S.A., has carried out a global internship program exclusively for Korean talent since 2011 with the aim to leave a bigger footprint here. And the competition heats up every year with the number of applicants soaring, according to Amway Korea. This year more than 900 college students applied to grab an internship opportunity at the global company and six finalists were selected to join the two-month summer program that started on June

Aug. 12, 2013

‘The Tall Man’ and the globalization of Hyundai Construction

By the mid-1970s, Hyundai Group, Korea’s leading industrial conglomerate, was expanding their construction and engineering efforts to international projects.With new Middle East projects such as the Arab Shipbuilding & Repair Yard and the Diplomatic Hotel, both in Bahrain, and the Jubail Industrial Harbor project in Saudi Arabia, Hyundai’s construction division needed additional technical support. In particular, there was a need for an in-house Western architect ― and one with experience in luxu

July 29, 2013

3M Korea readies for future challenges through innovation

Following is the fourth in a series of articles about promising foreign-invested companies. ― Ed.HWASEONG, Gyeonggi Province ― Constantly changing business environments and industry trends may present fear and uncertainty for some companies, often leading to their demise. In fact, change occurs so rapidly nowadays that a whole industry may become defunct in a matter of time if businesses are not well prepared, vice president of 3M Korea and head of 3M Innovation Center Kim Chi-deuk told The Kore

July 29, 2013

Air Liquide Korea expects further growth through investment

Following is the third in a series of articles about promising foreign-invested companies. ― Ed.DANGJIN, South Chungcheong Province ― Gases such as oxygen, nitrogen, hydrogen and carbon dioxide are not what ordinary consumers think about when making a purchase for automobiles, electronics, health care products, or other consumer goods. Nonetheless, a reliable supply of high quality industrial gases and services is vital for the production of many consumer goods, as well as for the complex indust

July 15, 2013

Nespresso sees coffee culture on the up

In Europe, most coffee is very short and very black, according to George Garrop, general manager at Nespresso Korea. But the regional chief, who was born in Greece and spent most of his life in Australia, says his favorite coffee now is a tall Americano because “it’s Korean style.”“We are a global brand but we respect local consumers at the same time,” Garrop said in a recent interview with The Korea Herald. “Here, customers have very high expectations about the service too.”Since its Korean lau

July 15, 2013

Engel Machinery Korea basks in growing demand

Following is the second in a series of articles on promising foreign-invested companies in Korea. ― Ed.PYEONGTAEK, Gyeonggi Province ― In 1862, Alexander Parkes presented the first man-made plastic at the Great International Exhibition in London. Since then, this revolutionary material has become an indispensible part of life.Every single plastic product we use ― soda bottles, plastic ware, plastic bags ― has to be heated and molded into shape. But even a small plastic injection mold for smartph

July 1, 2013

Korean employees need more balance between work and personal life

“Facing tension-filled Korean workplace culture, management ought to lead the way to implement a new culture where workers enjoy their work.”It has been already two years since I was appointed as a general manager for Heineken Korea. The Korean alcoholic drinks industry can be also deemed one of the most dynamic and fiercely competitive markets in the world. Although it is arguably the toughest job to establish our brand in Korea, where the presence of local brands has long been immensely powerf

June 17, 2013

Rhodia grows with rising demand for high-tech tires

Following is the first in a series of articles on visits to promising foreign-invested companies in Korea, arranged by state-run foreign investment promotion agency Invest KOREA and participated by IK Supporters, an IK-sponsored team of international students who are interested in Korea’s foreign trade with multinational companies. – Ed. Korean consumers know well the names of local tire makers ― Hankook, Kumho and Nexen. But few know they cannot make tires without the help of Rhodia, the world

June 17, 2013

Toni & Guy eyes 30 Korean salons this year

When Kim Dae-sik was tapping British brands to bring to Korea in the early 1990s, not many were interested.It wasn’t until about 10 years later when U.K. labels such as Lush started launching here.“Back in the early ’90s, a lot of British people didn’t even know where Korea was,” Kim, chief executive of Toni & Guy Korea, said in an interview with The Korea Herald.Kim, who had been working for Samsung C&T in London since 1989, then set his eyes on the popular hairdressing brand thanks to his wife

June 3, 2013

BMS focuses on new drug development

A number of global companies in electronics, materials, chemicals and offshore business are relocating their regional head offices or research and development facilities to Korea in light of its technological prowess and growth potential.Now, with the Korean government investing heavily in biosimilars as one of the country’s 10 future growth engines, the market’s importance is growing for multinational pharmaceutical firms such as Bristol-Myers Squibb Company as well.“The Korean government’s pol

May 20, 2013

‘New Zealand wants early FTA with Korea’

Korea and New Zealand started negotiations to conclude a free trade agreement in 2009. But there has been little progress due to differences over certain issues, including Korean farmers’ concern about increased competition.Nevertheless, the head of New Zealand’s trade office in Korea expressed eagerness for a high level free trade agreement with Korea at an early date.“An FTA with Korea will increase trade in both directions. A free trade agreement between New Zealand and Korea is of major impo

May 20, 2013

Could the depreciation of the yen really reduce FDI?

With the continued depreciation of the yen, concerns about Japanese investment into Korea have been rising. The rapidly weakening yen was devalued by more than 20 percent against the dollar between October 2012 and March 2013 from 79.03 yen to 94.93 yen per dollar. This is due to Japan’s quantitative easing policy, which has been actively carried out since the Liberal Democratic Party took power and which aims for an inflation rate of 2 percent.In the short term, there is no need to worry about

May 6, 2013