South Korea’s cosmetic brand Hanskin has launched two new men’s anti-aging skincare products infused with the company’s latest biotechnology developments.The Bio Origin For Men toner and lotion was developed by applying biopharmaceuticals developer Celltrion’s Skin 3R System, and includes Omega-3, 6 and 9, which help strengthen skin cells and improve skin tension. The products also include extracts of blackberries, blackcurrants, black olives and black beans -- known to contain high levels of an

Industry July 30, 2015

South Korea’s Caffe Bene has become the first coffee franchise in the country to receive halal food certification, the company said Tuesday.　Caffe Bene’s six types of coffee beans — Brazil, Colombia, Ethiopia, Kenya, blending and espresso — and nine powder types — coffee, green tea, milk tea, red velvet, sweet potato, vanilla and yogurt — have been certified halal by the Department of Islamic Development Malaysia, or JAKIM.The newly acquired halal certification is set to pave the way for the cof

Industry July 30, 2015

Global fitness brand Reebok is hosting a program to nurture Korean trainers to lead the company’s popular group fitness program until Aug. 16 in Seoul.Since the program kicked off on July 24, LesMills expert trainers Judy King and Ben Tang have been educating Korean trainers on how to properly carry out Reebok’s flagship workout program every Friday at Club Mute.The ongoing training program in Korea seeks to focus on teaching local trainers three core LesMill workout routines -- the muscle-tonin

Industry July 30, 2015

Fueled by growing demand for eco-friendly cars with improved fuel efficiency, sales of hybrid and electric vehicles in South Korea are set to reach an all-time high in 2015, according to industry data Thursday.A total of 15,953 hybrid and electric vehicles were sold in the country during the first half of this year, up by roughly 1,000 vehicles compared to the same period last year, according to data compiled by the Korea Automobile Manufacturers Association. Hyundai Motor`s Sonata Plug-in Hybri

Industry July 30, 2015

Kellogg’s has newly launched Chocolate Chex Magic Strawberry -- a cereal fusing chocolate flavors with the taste of strawberries. Chocolate Chex Magic Strawberry comes as the follow-up to the popular Choco Chex Snow Chocoball, launched in 2013, according to the company. Kellogg’s new cereal mixes its original chocolate Chex pieces with strawberry-chocolate balls sprinkled with strawberry powder, combining two flavors popular among children into one product. The cereal is priced at 7,980 won ($6.

Industry July 30, 2015

Popular handbag and fashion accessories brand Louis Quatorze released its limited-edition Metallic Balloon Bag in select stores in South Korea and China on Wednesday.Designed under a futuristic concept, the bag seeks to recreate a star shining on behalf of King Louis XIV of France under a pop art style, according to the company.The purse is mainly made with polycarbonate -- a lightweight and sturdy material known to withstand shock and scratches well -- and comes in three colors: pink, gold and

Industry July 30, 2015

After posting record-low deficits stemming from free-falling crude prices that led to massive inventory valuation losses in 2014, South Korea’s top refiners swung back to recovery in the second quarter thanks to high cracking margins and stable oil prices.SK Innovation, the nation’s biggest oil refiner, recorded 987.9 billion won ($845 million) in operating profits from April to June, marking its second-highest quarterly performance ever, after the 1.36 trillion won posted in the first quarter o

Industry July 28, 2015

President Park Geun-hye on Friday invited 17 business leaders to Cheong Wa Dae to celebrate the completion of creative economy centers nationwide and ask their active support in the future operation. As part of a government-led initiative, a total of 17 Centers for Creative Economy and Innovation have been launched over the past year aiming to nurture competitive start-ups across industries in partnership with big conglomerates. (Yonhap)A combined 2 trillion won ($1.7 billion) will be poured int

Industry July 24, 2015

DAEJEON -- The Daejeon Creative Economy Innovation Center, jointly established by SK Group and the South Korean government in a bid to nurture local start-ups, is helping to accelerate the growth and expansion of promising venture firms.Located at KAIST, one of Korea’s most prestigious universities focused on science and technology research and development, the center opened its doors in October 2014 aiming to help information and communications technology-focused start-ups commercialize their t

Industry July 24, 2015

 Following is the last in a four-part series featuring the battle between Samsung C&T and Elliott Associates over the Korean builder’s merger with Cheil Industries and its implications. ― Ed.　The National Pension Service is facing growing pressure to reform its decision-making process after it participated in a crucial vote on a $8 billion merger deal between Samsung C&T and Cheil Industries last Friday.The NPS, the nation’s largest investor with assets of 500 trillion won ($430 billion), voted

Industry July 24, 2015

South Korea’s Hanjin Group and the Ministry of Science, ICT and Future Planning opened a new creative economy innovation center in Songdo, Incheon, on Wednesday, in a bid to nurture new venture firms specializing in IT-based distribution system development and to aid their global expansion.The Incheon Creative Economy Innovation Center is the last of 17 such centers launched nationwide by conglomerates in collaboration with the Science Ministry, in line with the Korean government’s flagship crea

Industry July 22, 2015

While the story of South Korea’s so-called economic miracle achieved on the back of strong state intervention has been widely attributed for its rise as an advanced economy, a new type of business system has now taken root driving forward innovation, according to a business scholar.As state intervention in the economy has waned dramatically through waves of deregulation and liberalization since the 1980s, a different system is propelling Korea’s economic development today, said Xiaoke Zhang, a p

Industry July 21, 2015