Homeplus CEO Lim Il-soon intends to resign after leading the hypermarket chain for three years, the company said Thursday. Lim, the first female CEO in the industry, told the company last year that she wished to resign for personal reasons, and the company recently accepted her resignation. Since she was appointed to lead the retail giant in October 2017, Lim has been responsible for many industry firsts, Homeplus said. In 2019 Lim decided to convert some 15,000 contract employees to f

Consumer Jan. 7, 2021

Starbucks Coffee Korea on Thursday launched a set of limited edition Playmobil toy figurines, hoping to re-create the successes of their previous merchandise collections. Customers can get one of six tall-size beverages with an accompanying Playmobil figure for 12,000 won. In collaboration with the famed German toymaker, the coffee chain will release a total of eight different Playmobil figurines this month, while the drink and toy combo -- named the Buddy set -- will end on Feb. 3. The fir

Consumer Jan. 7, 2021

South Korea’s second-largest automaker Kia Motors unveiled a new logo and a brand slogan on Wednesday, as the company aims to transform its image to one of future mobility. The new logo and the slogan, which is “Movement that inspires,” comes as part of the automaker’s mid- and long-term strategy announced last year, which outlines the automaker’s plans to become a leading firm in the future mobility industry, the company said. “The new logo symbolizes Ki

Mobility Jan. 6, 2021

Ford’s popular Explorer sports utility vehicle is to return with upgrades to its powertrain and design, Ford Sales and Service Korea said Wednesday. The automaker said it was rolling out the New Ford Explorer Platinum, with functions enhanced from the Explorer 2.3 Limited. The New Ford Explorer is equipped with 3.0-liter Ecoboost V6 gasoline engine that puts out up to 370 horsepower and a maximum torque of 54 kilogram-meters. The carmaker has fully digitized the 12.3-inch cockpit a

Mobility Jan. 6, 2021

With icy cold weather hitting regions across the country, concerns are rising about increased car accidents on black ice. To be prepared for emergencies, Victorinox presented its Rescue Tool, a continuation of its flagship Swiss Army Knife series that boasts 15 tools useful in such situations. According to the knife manufacturer and luxury watchmaker on Tuesday, among the tools are a one-handed serrated locking blade for precise cutting, a seatbelt cutter in case the user becomes entangled and

Consumer Jan. 5, 2021

Yuhan-Kimberly will get a new chief executive on Friday -- Chin Jae-seung, the company’s vice president of marketing and innovation. He will replace Choe Kyoo-bok as CEO. The appointment of Chin was decided at a board meeting in December. 　 According to Yuhan-Kimberly, Chin, 56, has served in several management roles since joining the company in 1989. After years in product research and development, the executive has since 2010 led business segments including baby and child care, fe

Consumer Dec. 31, 2020

Coupang will reorganize its top leadership so that it has two representative directors instead of the current four, the e-commerce platform said Wednesday. Two incumbent directors, Kang Han-seung and Park Dae-jun, will retain their posts, while the others will no longer hold the title. 　 Kim Bom-seok, the company’s chief executive and one of its outgoing directors, will serve as the chair of its board and will focus on establishing its strategic direction, Coupang said. The other outgo

Consumer Dec. 30, 2020

Hyundai Steel is the first company in the world to develop a technology that can completely eliminate emissions from its blast furnaces, the company said Tuesday. According to South Korea’s No. 2 steelmaker, it has successfully “purified” hazardous gas inside a blast furnace using the “First Safety Valve,” during the process of re-ventilating hot air inside the furnace after general maintenance. After toxic gas emissions at its furnace breathers were pointed out

Industry Dec. 29, 2020

The COVID-19 crisis has dealt a severe blow to small businesses as a whole, but the latest data on business closures reveals some have suffered more than others. Karaoke lounges, indoor golf ranges and DVD rooms were hit hardest by the pandemic with the biggest increases in closing rates, according to the report by a state-run Korea Development Institute. The think tank at the request of the government analyzed the second-quarter business closure data to find that closures in the three type

Industry Dec. 28, 2020

As environmentally-friendly vehicles grow in popularity, consumer claims of defects in their electric vehicles have multiplied in recent years, latest data shows. According to the Ministry of Land, Infrastructure and Transport and Korea Transportation Safety Authority on Monday, the number of electric vehicles registered in the country is 131,923 as of November, a 12-fold increase from 10,855 at the end of 2016. Complaints of faulty vehicle parts grew even faster during the period. A total o

Mobility Dec. 28, 2020

Local convenience store chain GS25 is bringing instant vegan tteokbokki to its stores, the company said Monday. Tteokbokki is a popular Korean street food of rice cakes in chili sauces. 　 The products, under the name Veggie Garden, are 100 percent meatless, and have been certified vegan by the Korea Agency of Vegan Certification and Services, a non-profit organization that has been approved by the Ministry of Food and Drug Safety. The company said the products have removed all possible conta

Consumer Dec. 28, 2020

Steelmaking is dangerous work that involves heavy equipment and hot materials, including molten iron that gets as hot as 1,500 degrees Celsius. Minor mistakes can lead to deadly accidents. To prevent industrial accidents and to promote safety for its employees, Posco has implemented various smart technologies, the country’s leading steelmaker said Sunday. Recently, for example, the steelmaker introduced drones to its plants. In the past workers had to use ladders and climb about 100 m

Industry Dec. 27, 2020

Hyundai Motor and Kia Motors, the country’s two largest automakers, witnessed their overseas sales of environment-friendly vehicles surpass the 300,000-unit mark for the first time this year, industry data showed Sunday. From January to November, the two affiliates of Hyundai Motor Group sold a combined 306,266 electric vehicles, plug-in hybrids and fuel cell electric vehicles in overseas markets. The figure shows an increase of 26.8 percent from the 238,155 environment-friendly vehicl

Mobility Dec. 27, 2020

For Han Sung Motor, Korea‘s official Mercedes-Benz dealer, year-end celebrations aren’t complete without a graduation ceremony for recipients of its art scholarship program. This year, the event honored four students who completed the Dream Gream program. In light of the COVID-19 pandemic, this year’s event was held Friday virtually for the first time since the firm launched the program in 2012 Only a small number of people gathered at a cafe in Seoul on Friday, while gradu

Mobility Dec. 23, 2020

When the novel coronavirus made its appearance across the world earlier this year, optimistic market observers anticipated that “revenge spending” would eventually rebound to counter the damaging effect of the initial outbreak. South Korea, which had successfully retained its domestic virus spread in the first half of the year, had hopes for a while of seeing its domestic market get back on track within the year. But with a third wave of infections here and the stronger social dist

Industry Dec. 23, 2020