South Korean airliner Asiana Airlines said Friday that it would reduce the number of flights destined for certain European and US cities beginning in October, in response to instructions from the Transport Ministry to address the problem of delayed flights. The country’s No. 2 full-service carrier said it would operate only 75 flights per week to six cities in the US and six cities in Europe as of October. The current number of flights to each city is 82. The Ministry of Land, Infrastructure and

Industry Aug. 17, 2018

South Korea’s Ministry of Land, Infrastructure and Transport said Friday that it had decided not to revoke the business license of Korean Air’s budget affiliate, Jin Air. The budget carrier came under fire in April for having a US citizen, Cho Hyun-min, on its board of directors. For security reasons, foreign nationals cannot serve as board members at Korean airlines under the nation’s aviation law. In April, it was revealed that Cho, the younger daughter of Korean Air Chairman Cho Yang-ho, had

Industry Aug. 17, 2018

Scottish distillery Edrington unveiled a brand new package and name for its most recognized single malt The Macallan, its Korean branch said Thursday.New packages and names for The Macallan (Edrington Korea)According to the company, it applied special technologies to its bottle design that prevents refilling and imitation. This can alleviate customers’ anxiety which regard to water bewitched liquor, it said.By collecting consumer opinions from around the world, the company decided to break away

Industry Aug. 16, 2018

Prices of naengmyeon, or cold buckwheat noodles, soared this summer following the continued popularity of the dish amid the sweltering heat, as well as a cold noodle craze sparked by the inter-Korean summit in April. (Yonhap)According to Statistics Korea, prices of naengmyeon at 148 restaurants across the country went up by 4.5 percent and 4.3 percent in June and July, respectively, compared to a year ago. The increase in June was the biggest since March 2012 when prices rose 5.3 percent.Particu

Industry Aug. 16, 2018

The salaries of chaebol owners and corporate executives in the first half of the year were unveiled Tuesday as the groups turned in their half-year salary reports to the Financial Supervisory Service.According to the FSS’ disclosure system, Hanjin Group Chairman Cho Yang-ho topped the list with 5.82 billion won ($5.13 million). Cho was followed by former Kakao M CEO Park Sung-hoon, who received 5.74 billion won. Park left Kakao M in March and now heads the game company Netmarble. (Yonhap)NCsoft

Industry Aug. 15, 2018

Following the continued trend of “honsul,” or drinking alone, and increased single-person households, more liquor companies are releasing smaller products.South Korean brewer Oriental Brewery said it has launched mini beer cans in 250-milliliter servings, which the company said are “perfect for the summer vacation season” because they are easy to carry around and can be consumed at once. Oriental Brewery’s Cass (OB)OB also released mini-sized Hoegaarden Rose bottles, in an effort to diversify it

Industry Aug. 15, 2018

South Korean duty-free store operators are divided over President Moon Jae-in’s remarks on the possibility of opening duty-free shops at arrival airport terminals to alleviate the inconvenience of having to travel with duty-free goods.  Passengers ready for departure at Incheon Airport. (Yonhap)On Monday, President Moon ordered a long-debated review of opening duty-free stores at arrival terminals during a meeting with his secretaries, saying that arrival duty-free shops could boost domestic spe

Industry Aug. 14, 2018

South Korean poultry giant Harim Group said Monday that it will begin selling frozen foods such as chicken nuggets and ready-to-eat products like Samgyetang, or chicken ginger soup, in the Philippines.The company said its signature product of Yongari chicken nuggets and other frozen foods will hit the shelves at supermarkets in Manila and other major cities in the Philippines soon. Last month, Harim’s products passed customs in the Philippines, it said. It is the first time for a South Korean co

Industry Aug. 13, 2018

The Korea Herald is publishing a series of articles featuring inter-Korean relations to mark the paper’s 65th anniversary that falls on Aug. 15. Following is the seventh installment. – Ed.Delegations of the two Koreas inspect the North Korean side of the Gyeongui Line on July 24. (Yonhap)Under the peace initiative by South Korean President Moon Jae-in, whose pledges include building a Trans-Korean Railway, construction companies are optimistic about the prospect of involvement in the project. Th

Industry Aug. 12, 2018

Hanwha Group unveiled a plan Sunday to invest 22 trillion won ($19 billion) over the next five years in new growth sectors, like solar energy, and create 35,000 jobs.The country’s eighth-largest conglomerate by assets said the plan is the company’s largest long-term investment, with the aim of responding to the rapidly changing business landscape and to secure new business growth momentum. According to the company, about 4.4 trillion won will be invested each year, an about 37 percent increase f

Industry Aug. 12, 2018

BUILDING HOPE -- South Korea’s leading tobacco maker KT&G’s overseas volunteer team comprising 54 university students and employees pose for a photo after completing the 10-day construction of a community center and sports facilities at a village in Cikarang, Indonesia. KT&G has sent 41 volunteer teams since 2005 as part of the company’s corporate outreach. (KT&G)

Industry Aug. 9, 2018

South Korean food manufacturer Dongwon F&B said Thursday that it has clinched a deal with Thailand-based food giant Charoen Pokphand Foods to boost its export opportunities. A partnership agreement ceremony was held at CPF’s headquarters in Bangkok on Thursday, attended by executives including Dongwon F&C CEO Kim Jae-ok and CPF CEO Sukhawat Dansermsuk.CPF is a food affiliate of Thailand’s Charoen Pokphand Group, which operates subsidiary companies in such sectors as food, retail, finance and tel

Industry Aug. 9, 2018

South Korean confectionary firm Orion said Tuesday that its signature snack Goraebab has recorded 74 percent sales increase from January to July in Vietnam, the largest growth since the company tapped into the market.  Orion’s Goraebab (Orion)Goraebab, one of Orion’s best-selling snacks besides Choco Pie, Oh Gamja and Yegam, is a potato-based snack consisting of small crackers in different shapes of sea animals. It was launched in the domestic market in 1984. Goraebab entered the Vietnamese mark

Industry Aug. 7, 2018

Sales of hair care and scalp treatment products have seen an almost 500 percent increase so far this summer amid the scorching weather, industry data showed Monday.  Auction’s hair care and scalp treatment products (Auction)According to the online marketplace Auction, sales of hair- and scalp-related products, such as hair loss shampoo, head massagers and scalp scaling products, soared 498 percent on-year in July. As the scalp is more exposed to heat and ultraviolet rays in summer, more consumer

Industry Aug. 6, 2018

South Korean e-commerce platform Cafe24 said Monday it has signed an agreement with Japan’s Shibuya109 Entertainment to boost global sales of Korean and Japanese fashion products.  Cafe24 CEO Lee Jae-suk (left) and Shibuya109 President Tomoo Kimura pose after signing a strategic partnership for boosting global exports of Korean and Japanese fashion brands on Monday in Seoul. (Cafe24)Shibuya109 Entertainment is the operator of Japan’s iconic Shibuya109 fashion mall, which was established in 1979

Industry Aug. 6, 2018