Namyang Dairy Products, one of South Korea’s major dairy companies, is again at the center of controversy for allegedly paying professional trolls to disparage a rival company online. After several similar incidents over the past few years, many people have chosen to boycott the firm. Namyang Dairy Chairman Hong Won-sik and six others, including Namyang employees and representatives of a contracted PR agency, are currently being investigated by police and potentially face charg

Consumer May 8, 2020

South Korean liquor maker HiteJinro said Friday it will renew its flagship soju product Chamisul Fresh, lowering the alcoholic content by 0.1 percent to 16.9 percent to match with rival soju brands. Chamisul Fresh is the No. 1 soju brand by sales here. According to the company, the renewed Chamisul Fresh is produced by applying different manufacturing techniques and it will also change part of the package design, to add Environmental Product Declaration mark issued by Korea Environmental Ind

Consumer May 8, 2020

South Korean steel giant Posco said Thursday that it would focus all its capabilities on fostering its new construction steel brand, Innovilt, as its next-generation product. To that end, the company said it would cooperate with small but strong companies to advance its premium construction steel business, and that it ultimately hoped to establish a new ecosystem in the construction market. Posco launched Innovilt in November 2019. The construction steel brand is used in architectural struc

Industry May 7, 2020

South Korean tobacco giant KT&G said Wednesday that it had donated 100 million won ($81,780) worth of COVID-19 test kits to Indonesia, where it has a corporate body. According to the company, it delivered the kits, which are made in Korea and can diagnose 6,300 people, via its overseas corporate body to the Indonesian National Board for Disaster Management on Tuesday. “We made the decision to support the country where our overseas office is located to lend help,” a KT&G

Industry May 6, 2020

An unusual brand produced the fashion hit of the winter in Korea last season. White padded jackets with the Gompyo logo splashed across the chest sold out almost instantly when they were released in November. Logos have been a fashion mainstay for decades, but the difference here is that Gompyo is a brand of flour. The jacket, a limited edition item released by Daehan Flour’s 68-year-old household brand Gompyo in collaboration with e-commerce platform 4XR, retailed online at 145,000 wo

Consumer May 5, 2020

After COVID-19 dampened consumer sentiment for the first quarter, retailers are pinning their hopes on Family Month and are rolling out various promotions to get consumers to open their wallets in May. May is usually a good month for the retail industry because of three holidays that tend to increase consumer spending on gifts for loved ones and teachers. Tuesday is Children’s Day, Friday is Parents’ Day and Teachers’ Day is May 15. To ease the burden on consumers amid th

Consumer May 4, 2020

South Korean e-commerce platform Coupang launched a same-day Rocket Fresh service Wednesday. The service will allow customers who order fresh food items before 10 a.m. to receive them by 6 p.m. The Rocket Fresh service has been operating its dawn overnight deliveries since October 2018. Coupang said the same-day service has been offered in the wake of the COVID-19 outbreak as demands for online groceries shopping soared over the past months. Coupang said it offers 8,500 fresh food options,

Consumer April 29, 2020

South Korean textile and chemical conglomerate Hyosung Group announced Tuesday its plan to build the world’s largest liquid hydrogen plant in Ulsan in cooperation with global chemical company Linde. Hyosung Group’s Chairman Cho Hyun-joon and Linde Korea’s Sung Baek-seok signed a memorandum Tuesday, agreeing to invest 300 billion won ($244 million) until 2022, to establish a comprehensive value chain for liquid hydrogen production, delivery and facility operation. The two co

Industry April 28, 2020

In line with its expansion of social responsibility programs, Mercedes-Benz Korea said Monday it is saving a percentage of revenue from car sales from March to May with a goal of donating over 1 billion won ($811,000) to charitable causes. Mercedes-Benz Korea has been embarking on social activities to contribute to less privileged Koreans and to contribute to the country’s fight against the impact of the novel coronavirus, the automaker said. The local importer and distributor of the G

Mobility April 27, 2020

South Korea’s online shopping rate was listed as second highest in the world amid the COVID-19 pandemic, a research firm said Monday. According to dunnhumby, a global customer data science company , Korea ranked second after China in the survey studying online consumption patterns, conducted with 7,677 consumers in 19 countries affected by the COVID-19 pandemic. The 19 countries include five in Asia -- South Korea, China, Hong Kong, Malaysia and Thailand; 10 from Europe -- S

Consumer April 27, 2020

Two years into his term as chief of Korea’s largest steelmaker Posco, Chairman Choi Jung-woo continues to stress the company’s priority on safety, according to the firm on Sunday. This is highlighted in the business management as well as policy and systems developments, the company said, citing a three-year, 1.1 trillion-won ($894 million) investment plan to enhance safety control. “Just a little carelessness can lead to an accident. We should have caution every moment we wo

Industry April 26, 2020

SK Engineering and Construction said Sunday it aims to create a clean living environment for residents with its newly developed anti-viral air circulation system. The company said it developed the Clean Air Solution system last year, using ultraviolet LED modules for the first time in South Korea. It has applied the system to its SK View apartment complexes. Recently, the company also developed an upgraded version of the air circulation system and finished application for patent, the compan

Industry April 26, 2020

Department stores are jumping into “live commerce” by livestreaming services -- providing indirect shopping experiences -- to tackle weakened sales amid the COVID-19 outbreak, according to industry sources Friday. Hyundai Department Store said it will run a livestream fashion show dubbed “2020 Digital Live Fashion Show” at 7 p.m. on Saturday. It is the first time a department store will run a fashion show without audience. The online fashion show will be livestreamed

Consumer April 25, 2020

Hyundai Steel said Friday its operating loss stood at 29.7 billion won ($24 million) with a net loss of 115.4 billion won in the first quarter this year. According to the South Korean steel producer -- an affiliate of Hyundai Motor Group -- its combined sales came at 4.66 trillion won ($3.78 billion) in the first quarter, declining 8 percent compared to a year earlier. The results were largely affected by the COVID-19 outbreak, as it has exacerbated the ongoing slump in the steel industry.

Industry April 24, 2020

South Korea’s largest steel producer Posco said Friday its operating profit in the first quarter posted 705.3 billion won ($570.8 million), down 41 percent on-year. The company logged 14.5 trillion won in sales on a consolidated basis, decreasing by 1.4 trillion won on-year. Its net profit stood at 434.7 trillion won, down 44 percent on-year. The COVID-19 pandemic outbreak has added difficulty to the sluggish steel industry, affecting exports and operations of overseas factories. Accord

Industry April 24, 2020