Paris Baguette, operated by South Korean food giant SPC Group, has joined hands with YG Entertainment to launch a Big Bang-inspired bakery cafe in Shanghai.　The second floor of the brand’s Nanfangshangcheng shop in Shanghai has been decorated under the theme of “Bigbang x Krunk,” featuring K-pop idol group Big Bang members animated in the style of YG’s flagship character Krunk.　Paris Baguette’s signature cafe menu including its mini-cakes, pudding, milkshakes and coffee varieties have also been

Industry Dec. 24, 2015

Nike Sportswear will launch the Nike Air Huarache Ultra, combining elements of the 1991 iconic Huarache with a modern touch and Nike’s technology for extra comfort, in Korea on Saturday.　The shoe is designed to focus on comfort, flexibility, fit and ease of entry, as a lighter shoe that “hugs” the foot, according to the company. It is priced around 130,000 won ($110).　“We wanted to reimagine the Huarache in a fresh and modern way for the way our female consumer maneuvers today,” said Nike footwe

Industry Dec. 24, 2015

South Korean cosmetic store franchise Aritaum has opened a new flagship store in the heart of Gangnam, near Gangnam Station in southern Seoul.　As the biggest Aritaum branch in the country, the new store stands at 450 square meters. Under a “shop-in-shop” concept, three leading AmorePacific brands Iope, Laneige and Mamonde are housed inside the store.　Iope’s Bio-lab offers a skin checkup program while the Laneige Beauty Mirror space offers premium makeup services. Mamonde offers customers a chanc

Industry Dec. 24, 2015

LG Household and Healthcare has launched a new fragrance, Veilment, named by combining “veil” with “moment” to suggest it can recreate past memories through scent.　Veilment’s scents, available in 10 types, have been made under four general concepts — “Exotic Asia,” “Fresh,” “Sweet” and “Sensual.” 　Ten types of candles, 10 types of diffusers, three types of body care products and one type of hand cream have been launched under the Veilment brand, according to LG. Prices range from 45,000 won ($40

Industry Dec. 24, 2015

CJ Foodville’s flagship steakhouse VIPS has launched a seasonal menu in celebration of the winter holidays.　Under a “red and white” theme, the new dishes are cooked with ingredients like lobster, cranberries, wine and a number of cheeses. The sampler menu has been upgraded to include a heightened variety of steak and seafood.　A melted cheese fondue will come with any sampler menu order. Seasonal desserts including a red velvet cake with snow sprinkles, cocoa snow banana cake and Christmas Santa

Industry Dec. 24, 2015

SK Chemicals, the pharmaceutical unit of South Korea’s SK Group, said Wednesday it has submitted its self-developed hemophilia drug NBP601 for review and subsequent approval by the European Medicines Agency.　The announcement, which comes as SK awaits the drug’s approval from the U.S. Food and Drug Administration, draws the company a step closer toward commercializing the recombinant DNA drug in global markets. SK Chemicals` hemophilia drug NBP601 (SK Chemicals)　Lifted by the positive sales outlo

Industry Dec. 23, 2015

Hyundai Rotem, a plant equipment manufacturing affiliate of Hyundai Motor Group, said Wednesday it has successfully developed its own high-speed panel transfer system for use in tandem press lines.　The system was unveiled to the public for the first time Tuesday during a presentation ceremony in Busan.　A tandem press line is a machine that combines several press machines used for cutting and bending steel plates. Hyundai’s new system feeds panels into the tandem press 20 percent faster than thos

Industry Dec. 23, 2015

AWARD FOR FAMILY-FRIENDLY WORK CULTURE — Roche Korea, the local affiliate of Swiss pharmaceutical giant Roche, was recognized Tuesday by the South Korean Ministry of Gender Equality and Family for its excellence in sustaining a family-friendly work culture. The company offers a number of employee benefits including flexible working hours, structural and financial child support and favorable policies for working mothers, among others. (Roche Korea)

Industry Dec. 23, 2015

South Korea’s retail giant Lotte Group held a symbolic topping-out ceremony Tuesday afternoon to mark the approaching completion of the Lotte World Tower, the tallest building in the country located in Jamsil, southeastern Seoul.　Lotte Corp. placed the last crossbeam on the roof of the 123-story skyscraper amid much fanfare with some 200 high officials in attendance, including Lotte chairman Shin Dong-bin and Seoul City mayor Park Won-soon. A ridge beam is placed on the roof of Lotte World Tower

Industry Dec. 22, 2015

Daewoo Shipbuilding & Marine Engineering employees are planning to purchase new shares to be issued by the company as part of its ongoing restructuring efforts to improve its liquidity, DSME said Tuesday.　　The South Korean shipyard is planning to issue new stocks worth 2 trillion won ($1.7 billion) as it seeks to recover from mass deficits linked to a global economic downturn that has led to sharp falls in shipbuilding demand. The DSME headquarters in Seoul (Yonhap)　Some 80 percent of DSME emplo

Industry Dec. 22, 2015

Shake Shack Burger, New York City’s most famous roadside burger joint, is coming to South Korea next year, the company announced Tuesday.　Under a licensing partnership with Korea’s leading food giant SPC Group, Shake Shack Enterprise International plans to open its first Seoul branch in 2016, with plans to launch a total of 25 outlets in the country by 2025.(SPC Group)　“We’ve heard from fans in South Korea for years that they’d like us to bring Shake Shack to their hometown, and we’re absolutely

Industry Dec. 22, 2015

 Located at the center of maritime transportation networks in Northeast Asia, South Korea’s port-oriented industrial parks offer a business-friendly environment and strong logistics networks for local and foreign firms. 　 “Thanks to Korean ports that provide highly developed logistics services connected to Asia’s main ports in China and Japan, the companies operating at industrial parks in the hinterland areas of major ports can effectively transport their products to destinations to the neighbo

Industry Dec. 21, 2015

The government’s economic policy directions for 2016 and the central bank’s inflation target for 2016-18, which were announced last week, have signaled a major shift in Korea’s macroeconomic management.　Forecasting the country’s gross domestic product would grow by 3.1 percent in real terms next year, government policymakers said attention would be paid equally to the nominal growth rate, which they expected to reach 4.5 percent in 2016.　Their remarks were interpreted as suggesting policy effort

Dec. 21, 2015

Samsung Electronics vice chairman and heir apparent Lee Jae-yong is betting big on biotechnology, a move reminiscent of his father, chairman Lee Kun-hee’s entry into the chip business almost 40 years ago. 　In the 1970s, there was widespread skepticism about Samsung’s entry in the chip market that was dominated by U.S. and Japanese companies. But the company poured resources into ramping up quality chips at cheaper prices. Now the company is the No. 1 player in memory chips and the business unit

Industry Dec. 21, 2015