Lotte Group chairman Shin Dong-bin received a boost in his move to solidify his managerial power as CEOs of the group’s units and Japan-based Lotte Holdings’ CEO pledged their full support for his leadership amid an intensified power struggle with his elder brother. Lotte Group chairman Shin Dong-bin (second from left) visits a Lotte distribution center in Osan, Gyeonggi Province, Tuesday. (Lotte Group)CEOs of 37 Lotte Group units said the current 60-year-old chairman is a “competent chief” to l

Industry Aug. 4, 2015

The nation’s fourth largest harbor, Pyeongtaek Port, is eyeing a bigger role in trade between South Korea and China following the official signing of a free trade agreement between the nations in June, an official from the Gyeonggi Pyeongtaek Port Corp. said Monday. Kim Jeong-hun, director of Gyeonggi Pyeongtaek Port Corp.“Following the FTA between Korea and China, Pyeongtaek Port’s role will be strengthened as it is the nearest port to China and a gateway to the central region of Korea,” said K

Industry Aug. 3, 2015

Lotte Group’s family feud is escalating as two sons of the conglomerate founder are bracing for a final showdown to seize control of the 112 trillion won ($97 billion) business group.  (Yonhap)Lotte chairman Shin Dong-bin, the younger son of founder Shin Kyuk-ho, and eldest son Shin Dong-joo both expressed confidence in winning at the coming crucial shareholders vote. Group insiders said the two brothers have entered a new phase of the tug-of-war to woo support from shareholders of the Japan-bas

Industry July 30, 2015

 Jin Air executive director Cho Hyun-min (11th from left) and Ihssane Mounir (13th from left), Boeing‘s Northeast Asia vice president of sales and marketing, pose during a ceremony to celebrate the delivery of low-budget carrier Jin Air’s first B737-800 at the Boeing Delivery Center in Seattle, U.S., Tuesday. (Jin Air)　

Business July 28, 2015

AmorePacific’s flagship brand Laneige held a makeup show dubbed “Beauty Road” to promote its best-selling BB Cushion at the EmQuartier Shopping Mall on Sukhumvit Road in Bangkok, Thailand, on July 17. Starting from Thailand’s capital city, the Korean cosmetic brand will tour seven Asian cities, including Kuala Lumpur, Beijing and Singapore, to host the pop-up event. (Laneige)

Industry July 28, 2015

Han Sung Motor, Mercedes-Benz’s largest dealer in Korea, took an initiative in customer marketing for high-end cars buyers, by hosting its first motor show at the “Sevit’’ floating island on the Hangang River on July 17-18.Visitors to the 1st motor show of Han Sung Motor are joining the auction event for a StarClass CLA 200 CDI car, held at the “Sevit’’ floating island on the Han River last Saturday. The StarClass is the brand name for used cars, recognized by Mercedes-Benz. (Han Sung Motor)“Cel

Mobility July 26, 2015

It is no secret that Kia Motors has a knack for pulling off spacious interiors, and its New K5 is a prime showcase of that ability.  The New K5 (Kia Motors)The moment I opened the door of the midsize sedan, I instantly noticed the lofty space in the back, large enough not only for tall adults but also luggage on the floor. The front seats were equally spacious, allowing plenty of legroom. The interior design was lean, modern and simple, accentuating the space. According to Kia, the wheelbase was

Mobility July 26, 2015

South Korea’s major retailers are holding massive events in a bid to rekindle sales and vitalize consumer sentiment, which was seriously hit by the outbreak of the Middle East respiratory syndrome between late May and early July. Shoppers flock to grab bargains at a Black Shopping Day event held by Lotte Department Store at BEXCO in Haeundae, Busan, Friday. (Yonhap)Department stores and discount outlet chains are slashing prices of luxury and fashion items to clear out their inventory while duty

Industry July 26, 2015

Baesangmyun Brewery, South Korea’s leading traditional liquor maker, is growing its brand with urban brew pubs producing freshly fermented makgeolli, Korean rice wine, every day. By rebuilding a mini-brewery -- Slow City Brewery & Pub -- just like those a century ago, the producer of a range of distilled and fermented Korean beverages seeks to revive the country’s home-brewed alcoholic beverage culture with a modern touch.  A chef prepares food for the daily lunch buffet at Slow City Brewery & P

Industry July 16, 2015

Park Sam-kooKumho Asiana Group chairman Park Sam-koo has been appointed to lead a tourism promotion committee, the group said Tuesday. The Visit Korea Committee, under the Ministry of Culture, Sports and Tourism, elected Park as its new chairman during a board meeting in Seoul on Friday.“We expect that Park will contribute vastly to the development of the tourism industry with his expertise in the tourism sector and management skills he cultivated as a business leader,” a VKC official said. Foun

Industry July 14, 2015

Heather Cho, the oldest daughter of Korean Air chairman Cho Yang-ho, has asked a U.S. court to dismiss a lawsuit involving an onboard tantrum dubbed “nut rage” on Tuesday, saying the case should be handled by a court in Korea.  (Yonhap)“It is more appropriate to hold a plea in Korea as all parties related to the case are Korean nationals and investigations were also conducted in the country,” an attorney representing Cho said.  The motion comes months after a flight attendant who was harassed by

Industry July 14, 2015