For Amorepacific, the last year has been painful in terms of both sales and brand development.The South Korean cosmetics giant saw its operating profit halve to 549 billion won ($491 million) in 2018, just two years after it joined the “1 trillion-won sales club” in 2016 for the first time as a cosmetics maker. With its glory falling to the past, Amorepacific has been outpaced by rival LG Household & Healthcare. LG Group’s cosmetics arm became the newest member of the 1 trillion-won sales club l

Industry Feb. 26, 2019

The numbers of South Koreans with landline telephones and desktop personal computers at home hit their lowest marks last year, pushed by the widespread use of mobile phones, laptops and tablet PCs instead, data showed Sunday.123rfAccording to a survey of 9,332 South Koreans from 4,116 households by the Information Society Development Institute last year, 51.9 percent answered they have a landline phone at home. It was the lowest figure since the institute began collecting data in 2011. The numbe

Industry Feb. 24, 2019

France’s Peugeot may be less ubiquitous on the streets of South Korea compared to other rival imported brands from Germany or Japan. But the new Peugeot 508’s stylish look and premium feel are gaining popularity among drivers who want a less common and sleek design that can grab attention on roads filled with large SUVs. New Peugeot 506 (Peugeot)During a two-hour drive on Hallasan in Jeju, the new Peugeot 508 proved itself to be an adventurous sedan with urban French chicness. The vehicle was sm

Mobility Feb. 24, 2019

Socar CEO Lee Jae-woong (Yonhap)Socar CEO Lee Jae-woong introduces the launch of a premium cab service version of Tada set for April, at a press conference in Seoul on Friday. Based on the rapid growth of the rental van-hailing service since last year, Lee said Tada Premium will invite taxi drivers and companies to join them in providing the premium cab service, starting with 100 vehicles for Seoul, to be expanded to 1,000 nationwide by the year’s end. Tada, which operates within the legal realm

Mobility Feb. 21, 2019

Only a few years ago, few could have imagined that gorgonzola cheese pizza would become one of Korea’s favorite dishes. Koreans’ recent enthrallment with cheese can be seen in the country’s annual cheese consumption. According to data from the Korea Agro-Fisheries and Food Trade Corporation, the country’s per capita consumption of cheese reached 2.5 kilograms last year, double that of a decade ago. Korea’s cheese production in the same period stood at 35,000 metric tons, up by 60 percent from ju

Industry Feb. 21, 2019

Air fryers have been taking off in South Korea, beating sales of microwaves and electric ovens last year, industry data showed Thursday.According to online marketplace Auction, sales of air fryers on its website last year made up 38 percent of the kitchen appliances category, which includes microwaves, electric ovens and electric grills. Sales of air fryers made up around 2 percent of the category in 2014. Over the same period, the proportion of sales made up of microwaves, electric ovens and el

Industry Feb. 21, 2019

The five-passenger QX50 compact crossover by Japanese automaker Nissan’s luxury car brand Infiniti hits the South Korean market Wednesday with a redesigned interior and exterior. The 2019 model features the 2.0L VC turbo engine with technology developed for the first time in the world’s combustion engine history, according to the company.  (Infiniti)The technology is based on a multilink system that automatically controls the range of the engine’s piston for optimized power and fuel efficiency,

Mobility Feb. 20, 2019

Kumho Tire has maintained its top position in South Korea’s replacement tire market for two years in a row, data from the Korea Tire Manufacturers Association showed Tuesday.Buoyed by consumer demand for premium tires and the launch of new tire products last year, Kumho Tire said it had recorded high sales of tires here.According to data from the association, Kumho Tire ranked No. 1 with sales of 6.52 million tires in 2018, accounting for 40.6 percent of locally produced tires sold in the countr

Mobility Feb. 19, 2019

South Korean coffee chain Ediya Coffee will inject 350 million won ($311,291) to establish a coffee bean roastery that can produce up to 6,000 tons of coffee beans annually, the company said Monday.The roastery, called the Ediya Coffee Dream Factory, will be the company’s first coffee production facility since it was established in 2004. The roastery will be built on 12,982 square meters in Pyeongtaek, Gyeonggi Province. The factory will have environmentally friendly roastery facilities equipped

Industry Feb. 18, 2019

The Amorepacific Museum of Art in Yongsan, Seoul, will host an exhibition showcasing some 40 contemporary art pieces until May 19.The exhibition, titled “APMA, Chapter One -- from the APMA Collection,” will fill eight exhibition halls and include a range of art genres, from painting and photography to sculpture and media arts. Notable pieces in the exhibition include “Love” by American pop artist Robert Indiana, which was also installed on Manhattan’s 55th street in New York City. And local inst

Industry Feb. 17, 2019

Tobacco maker British American Tobacco said Friday that it has joined hands with British sports carmaker McLaren and established a new global partnership for advanced technology and innovation.As part of the agreement, BAT will work closely with McLaren Applied Technologies to collaborate and share technological expertise in batteries, advanced materials and design. BAT’s stated goal is “transforming tobacco,” and the company said it would work to provide consumers with less risky tobacco and ni

Industry Feb. 15, 2019

Retailers, confectionery firms and convenience stores sell up to 10 times as many sweets in February and March than other periods, as Korea celebrates Valentine’s Day in February and White Day in March, but they have faced growing complaints of excessive packaging and low-quality products.“When I unwrapped the Valentine’s Day chocolate basket, I felt fooled because the basket was mostly filled with chocolates from lesser-known brands except two to three, although it looked like it was filled wit

Industry Feb. 14, 2019

JEJU -- With continued demand for larger sport utility vehicles here following changing lifestyles, more foreign carmakers are rolling in larger premium family models with upgraded functions and interior space.French automobile maker Peugeot is one of them. Earlier this year, the carmaker’s new 3008 and 5008 SUVs, which came back with larger space and multifunction steering wheels, hit the domestic market.  Peugeot 3008 and 5008 SUV (Hanbul Motors)The new five-seater 3008 SUV features the new EA

Mobility Feb. 13, 2019

Starbucks Korea said Tuesday that it has saved up to 7.5 million straws per month after it adopted strawless lids for iced drinks at its local stores. The number is equivalent to about 50 percent of straws that had been used at some 1,100 stores nationwide per month. The Korean unit of the US coffee giant introduced a specially designed lid, which resembles a sippy cup, in November in an effort to reduce waste and protect the environment.  Starbucks’ strawless lids (Starbucks Korea)As part of it

Industry Feb. 12, 2019

Exports of South Korean instant noodles ramen (called ramyeon here) topped $400 million last year for the first time, making a twofold growth in six years, data from Korea Trade Statistics Promotion Institute showed.Last year’s total ramen exports came in at $413 million, up 8.4 percent from a year ago. Industry insiders viewed that it was mainly driven by the popularity of spicy noodles in overseas markets including in the US and Southeast Asia. Ramen exports to the US and Japan saw around 20 p

Industry Feb. 11, 2019