Nature Republic seeks to revive, first in US

[THE INVESTOR] Nature Republic, the Korean cosmetics brand that focuses on promoting a healthy lifestyle, is set to open two more stores in the US and expand its overseas presence. The company was recently mired in a scandal involving its founder and CEO Jung Woon-ho. He has been in prison for eight months on charges of embezzlement and breach of trust for gambling overseas, and caused a political upheaval allegedly spending billions of won in lobbying for a lenient sentence.Nature Republic stor

July 20, 2016

Korea seeks sales ban of Ikea dressers

[THE INVESTOR] South Korea’s Ministry of Trade, Industry and Energy said on July 19 it is considering sales ban of Ikea dressers that are blamed for the deaths of at least six toddlers in falling accidents.The Korean unit of Ikea said it was reviewing the request. Amid the extending recalls around the world, some 100,000 units of the dressers are believed to have been sold in Korea over the past months. The ministry added that Ikea is not making enough efforts to inform consumers about its recal

July 19, 2016

Duty-free sales in H1 top W5tr for first time

[THE INVESTOR] Duty-free stores in Korea performed well in the first half of this year, as a total of 50 outlets recorded sales of 5.77 trillion won (US$5.08 billion), a 26.1 percent increase from the same period last year, according to customs data released on July 18. This is the first time that duty-free sales in H1 have passed the 5 trillion won mark, and if the upward turn continues into the second half, it might reach 12 trillion won, doubling from that of 2011. (123rf)A total of 22 urban

July 18, 2016

Furniture imports hit all-time high in H1

[THE INVESTOR] The total value of furniture imports in the first half of this year recorded an all-time high breaking last year’s record, according to customs data on July 18. Furniture imported in the first half of 2016 was worth US$1.54 billion, according to Korea Customs Service, a 13.1 percent increase from the same period last year, which saw the highest figure in the 2000s, with US$2.85 billion for the whole year.  (123rf)Growth in furniture imports had slowed down in the late 2000s due to

July 18, 2016

AmorePacific launches Hera in China

[THE INVESTOR] Korean cosmetics giant AmorePacific has successfully introduced its premium brand Hera in China, it announced on July 18. The official launching event on July 15 was attended by more than 250 media representatives and VIPs at Pheonix Media Center in Beijing. It showcased videos that reinterpreted its best-selling items such as Cell Essence and UV Mist Cushion, and a performance that demonstrated the ideal beauty of Hera, “Seoulista.” The highlight of the event, however, was the ap

July 18, 2016

Emart to bring in top drugstore chain Boots

[THE INVESTOR] Emart will usher in Walgreens Boots Alliance, the largest drugstore company in the world. It has signed a franchise partnership for the exclusive management of Boots stores in Korea, the nation’s largest discount chain announced on July 18. The first store in Korea will open in the first half of 2017 and will showcase its own lineup including No7 as well as international brands such as Soap & Glory, which will give Boots an edge in competing in the 900 billion won (US$792.04 milli

July 18, 2016

Coson teams up with Yujiahui Cosmetics for sales in China

[THE INVESTOR] Coson has teamed up with Hunan Yujiahui Cosmetics, a leader in mask sheets market in China, to secure the ever-growing market for its cosmetics including mask sheets.The company announced on July 14 that it has signed an agreement to establish a joint venture with the e-commerce firm specializing in cosmetics sales, to sell Coson products in China.  (123rf)They will start with Coson’s sheet masks and in the future will develop products through original development manufacturing, t

July 15, 2016

US beef import soars on rising hanwoo price

[THE INVESTOR] US beef imports increased significantly as South Koreans turned away from their expensive local beef hanwoo, industry data showed on July 14. US beef imports increased by 25.7 percent from January to May this year from the same period last year, to reach 61,062 tons, according to a report by the National Agriculture Cooperative Federation, better known as NongHyup. South Korea became the third largest beef importer in the world during the period, after Japan and Mexico. 123rfIn Ma

July 15, 2016

Supreme Court rules against Samsung C&T’s trademark application

[THE INVESTOR] The Supreme Court has ruled against Samsung C&T (formerly Cheil Industries) saying that its trademark for a fashion brand lacks originality, as it is similar to that of Switzerland’s Bally.On July 14, the court reversed the ruling from the original suit filed by Samsung C&T to cancel Korean Intellectual Property Office’s decision not to register its trademark: a black pentagon shaped like a house with a roof in which two different-sized arches on their sides are placed vertically.

July 14, 2016

Ryukyung PSG to acquire 5 Homeplus stores

[THE INVESTOR] Homeplus, the nation’s No. 2 discount supermarket chain, said on July 14 that it has recently decided to sell five of its stores to Ryukyung PSG Asset Management through a sales-leaseback transaction. The deal price is estimated at over 600 billion won (US$526 million). The company will acquire the stores and lease them back to Homeplus that is owned by MBK Partners, the nation’s largest equity fund. Homeplus said the new cash will be used for the company’s future growth. The deal

July 14, 2016