Shinsegae DF, the duty-free arm of the South Korean retail giant Shinsegae Group, reported 3.2 billion won ($2.8 million) in operating losses for its quarterly performance, despite 114 percent increase in sales.According to the firm, it earned 579 billion won in sales in the third quarter this year, marking a 114 percent jump on-year. Its operating losses came to 3.2 billion won, a dramatic fall from a 10 billion won operating profit in the last year.  Shinsegae duty-free store (Shinsegae DF)Shi

Industry Nov. 9, 2018

The South Korean branch of British liquor firm Diageo will expand and popularize its beer lineup as part of alternative plans to slowing growth of whiskey market here, its head said Tuesday.Diageo Korea CEO Lee Kyung-woo told reporters that the company would strengthen its imported beer lineup next year, particularly its stout beer brand Guinness, stressing the fast-growing beer market here.  Diageo Korea CEO Lee Kyung-woo speaks during a media night event Tuesday. (Diageo Korea)“Imported beer i

Industry Nov. 7, 2018

South Korean full-service carrier Asiana Airlines saw its operating profit drop more than 14 percent despite record-high sales of 1.8 trillion won ($1.6 billion) in the third quarter of this year.　The company said it recorded 101 billion won in operating profit, a 14 percent decrease from a year ago, and 47.8 billion won in net profit in the third quarter. Asiana Airlines (Asiana Airlines)The company’s low-cost carrier Air Seoul recorded 59 billion won in sales and 36 billion won in operating pr

Industry Nov. 6, 2018

Celebrating its 60th anniversary, Gimpo Airport on Tuesday unveiled plans aimed at becoming the world’s best city airport.The airport’s operator Korea Airport Corp. said it will open more facilities to increase accessibility, nurture young talent in the flight industry at its Aviation Training Center, and create more jobs by opening the National Aviation Museum of Korea in Gimpo Airport by 2020.Kim Myung-woon (center), Korea Airport Corp.’s acting CEO, poses with Gimpo Airport officials, passeng

Industry Nov. 6, 2018

E-mart, a South Korean discount chain operator under retail giant Shinsegae, joined hands with LG Electronics on Monday on the development and commercialization of retail service robots, including a smart shopping cart that will tag along behind the user.E-mart and LG Electronics held a signing ceremony for a memorandum of understanding and vowed to develop technology for a smart shopping cart that follows customers and does not require pushing.  　LG Electronics CTO division conversion center Ch

Industry Nov. 5, 2018

Following the revision of the licensing system for low-cost carriers, the government said it will complete a review of license applications for new LCCs by the first quarter next year.According to the Ministry of Land, Infrastructure and Transport, budget air carriers including Fly Gangwon, Air Premia and Aero K have submitted applications for business licenses. Other companies, including Air Daegu and Jeju Oreum Air, are expected to hand in applications this week.  Air Premia (Air Premia)Under

Industry Nov. 4, 2018

South Korean supermarket chain Homeplus on Thursday unveiled a new corporate identity, the first since its establishment in 1997.  Models hold a new corporate identity of Homeplus at Homeplus store on Thursday. (Homeplus)The retailer’s signature color of red was kept, while the image of a “plus” was highlighted to represent the company’s future businesses. The plus symbol is created with two ovals overlapping each other, signifying higher shopping benefits and wider choices, the company explaine

Industry Nov. 1, 2018

South Korean retail conglomerate Shinsegae Group finalized an investment contract worth 1 trillion won ($880 million) with a foreign investment firm and a private equity firm on Wednesday for an e-commerce spinoff. According to Shinsegae Group, it signed the contract with Affinity Equity Partners and BRV Capital Management, a consumer-focused investment firm, following its signing of a memorandum of understanding with the two companies in January. Shinsegae Group Vice Chairman Chung Yong-jin (ce

Industry Oct. 31, 2018

INCHEON -- Some 1,000 global aviation experts and airport industry insiders from 70 countries gathered at Incheon International Airport Corp.’s third annual World Aviation Industry Conference on Wednesday, an event aimed at exchanging insights on the future growth potential of global aviation and airports. The three-day event officially kicked off with IIAC CEO Chung Il-young’s opening remarks, in which he stressed the airport’s role in creating synergy with aviation service.Participants includi

Industry Oct. 31, 2018

South Korea’s leading liquor maker Hite Jinro said it aims to become a global liquor company by 2024, the year the company celebrates its 100th anniversary.  Hite Jinro’s low-alcohol fruit-flavored soju Jinro Plum is advertised during a Korean Parade held at an annual K-town Festival in Manhattan, New York, on Oct 6. (Hite Jinro)According to Hite Jinro, the company has integrated its operating system at overseas branches in the US, Japan and China so they can better perform localization and mark

Industry Oct. 30, 2018

South Korean builder GS Engineering and Construction reported a record-breaking quarterly performance in the third quarter, according to the firm. The company said it had recorded 9.7 trillion won ($8.4 billion) in sales, 843 billion won in operating profit and 657 billion won in pretax profit between July and September.Those figures are the highest in the history of the company, according to GS E&C.The company said its sales had increased 16.3 percent year-on-year, while its operating profit ha

Industry Oct. 28, 2018

South Korean supermarket chain Homeplus said it was running a pop-up market for three months to help female entrepreneurs promote their products. The market, called Women’s Good Market, operates at Homeplus’ Yeongtong outlet in Suwon, Gyeonggi Province, in a joint partnership with Gyeonggi Province’s Gyeonggido Job Foundation. Participating companies are selling their products at the Yeongtong outlet, rent-free and commission-free, for three months until Dec. 31, according to Homeplus. The Women

Industry Oct. 28, 2018

E-commerce company Coupang said it will launch a special delivery service, starting with a new environmentally friendly delivery center in Daegu in November. Coupang Logistics Service, a Coupang subsidiary that recently received authorization from the Ministry of Land, Infrastructure and Transport to operate as a delivery service provider, will open the country’s first logistics and delivery center with charging stations for electric cargo trucks. After opening its initial branch in Daegu, Coupa

Industry Oct. 26, 2018

South Korean e-commerce platform Cafe24 said Thursday it has launched an information technology solutions and services platform for Japanese business operators. The company said it launched the one-stop e-commerce solutions platform to provide online store-building, a payment gateway, logistics and marketing services. The company said it expects Japanese businesses of all sizes, from one-person operations to large-scale corporations, to now sell their products to billions of global consumers thr

Industry Oct. 25, 2018

 진행자: 김다솔, Paul Kerry1. Internet cafe murder case fuels debate on mental health and violent crimes 기사요약: 서울시 강서구 PC방에서 벌어진 아르바이트생 피살 사건으로 ‘심신미약’ 감형을 둘러싼 논란이 갈수록 뜨거워지고 있다.아이튠즈(아이폰): https://itunes.apple.com/kr/podcast/koliaheleoldeu-paskaeseuteu/id686406253?mt=2 팟빵 (안드로이드): http://www.podbbang.com/ch/6638[1] A heated debate on mental health and its link to violent crimes is underway after a murder suspect requested that his medical history be considered to mitigate punishment. He had been medical

Podcast Oct. 24, 2018