South Korean retail giant Lotte Group’s home shopping operator Lotte Home Shopping unveiled on Friday its plans to step up as a world-leading media commerce company by 2025.  Lotte Home Shopping employees participate in a ceremony in Seoul to celebrate the company’s vision for the future. (Lotte Home Shopping)According to Lotte Home Shopping, it will strengthen its business fundamentals by developing its mobile shopping platform and will offer consumers an advanced shopping experience by introdu

Industry Nov. 23, 2018

Yuhan-Kimberly, a South Korean manufacturer of sanitary products, said it was joining forces with the Mongolian government to restore a forest and open an observatory tower there. According to the company, the work to restore deforested areas of Mongolia’s Tujin Nars forest began in 2003. The forest had sustained severe damage after two fires before the local government formally asked Yuhan-Kimberly to take part in the project in 2001.Since that time, over 10 million trees have been planted.  An

Industry Nov. 22, 2018

South Korea’s birthrate has been in free fall in the past several years, but either despite or because of this, the interest in prenatal care among mothers-to-be is on the rise. The result has been increased consumer demand for baby products and prenatal care services.The industries that are benefiting from the prenatal care market boom are retailers and hotels, with a rising number of customers looking for premium baby products or staycation products in line with the popular “babymoon” trips.Lo

Industry Nov. 22, 2018

South Korean e-commerce company Coupang said Wednesday that it has secured a $2 billion investment from SoftBank’s Vision Fund, which will be injected into consumer-first technology including its logistics network.SoftBank’s latest investment is the largest investment amount ever received by a South Korean online retailer, according to Coupang. It comes three years after SoftBank invested $1 billion in Coupang in 2015.  Coupang CEO Kim Bom (right) poses with SoftBank founder and CEO Masayoshi So

Industry Nov. 21, 2018

South Korean retail giants Lotte and Shinsegae are likely to vie for acquiring 100 percent of Ministop Korea, the fourth-largest convenience store chain here in terms of the number of locations. According to Japan’s Aeon Group, the largest shareholder of Ministop Korea, it had received bid proposals from Lotte, Shinsegae and Seoul-based Glenwood Private Equity as of Tuesday.  Ministop Korea (Yonhap)A preferred bidder is to be decided in a week, according to Nomura Securities, which was chosen as

Industry Nov. 20, 2018

The Transport Ministry said Monday it has begun a nationwide survey on the preferred format for new vehicle license plates. The one selected would be applied from September next year.  Transport Ministry officials show five different designs for new vehicle license plates for the nationwide survey, during a press briefing last week. (Yonhap)In July, the ministry decided to adopt a new license plate with seven digits, adding one to the current six. Such a change would allow for 210 million new ca

Industry Nov. 19, 2018

South Korean parts manufacturer LG Innotek has mass-produced compact refrigerators with thermoelectric modules, the firm said Monday. According to LG Innotek, the recently launched table-sized refrigerator LG Objet has been incorporated with thermoelectric modules. These modules are combined with the components of thermoelements, radiator panels and radiating fans, to replace the cooling compressor system.LG Innotek's thermoelectric modules (LG Innotek)By using thermoelectric semiconductor techn

Industry Nov. 19, 2018

South Korean retailer E-mart said Monday that its No Brand private-label products will enter the Philippines market via the brand’s first overseas store set to open in 2020. According to E-mart, the company signed a franchise contract for exports with the Philippines’ leading retailer Robinsons Retail on Friday. Under the deal, the company aims to open 25 No Brand stores and 25 Scentence beauty stores at major shopping malls and department stores in the Philippines by 2020. A No Brand store in G

Industry Nov. 19, 2018

For Kim Yo-han, a 32-year-old office worker in Seoul, November has always been the month to shop for products with big discounts offered on e-commerce websites. From high-tech gadgets to designer clothes from luxury brands, Korean e-commerce companies run up to 80 percent discount promotions this month, mimicking Black Friday in US and Singles Day in China. Limited price flash deals usually lead to a huge increase in sales and traffic, creating buzz among online shoppers. Korean e-commerce giant

Industry Nov. 18, 2018

South Korean health care group Bodyfriend’s Lamborghini-themed massage chair won an innovation award at the International Consumer Electronics Show 2019, the firm said Thursday. It is the first time a massage chair has won an award in the home appliances category at CES.  Bodyfriend’s Lamborghini-themed massage chair LBF-750 (Bodyfriend)The company said its premium massage chair won high points in terms of technical skills, design, consumer values, competitiveness and uniqueness. Bodyfriend laun

Industry Nov. 15, 2018

South Korean retail giant Lotte’s duty-free operator Lotte Duty Free posted a rapid hike in overseas sales in its quarterly performance report, the firm said Thursday.  Lotte Duty Free store in Vietnam (Lotte Duty Free)According to the company, sales for the third quarter this year hit a record-high 4.1 trillion won ($3.6 billion), a 25 percent on-year increase. The sales from its downtown city stores and its overseas stores amounted to 3.8 trillion won and 164 billion won, respectively. Lotte D

Industry Nov. 15, 2018

In a country where savvy shoppers order anything from fresh food to a pair of shoes at a touch via mobile applications, low prices or fast delivery are no longer triggers to purchase. Growing consumer needs are now shifting toward people purchasing products they cannot afford to miss, such as via flash deals or limited sales.Ticket Monster, or TMON, a first-generation e-commerce company established in 2010, is one of those leading the e-commerce scene in Korea.TMON’s Monster Deal, which sells a

Industry Nov. 14, 2018

South Korean company Fidelis F&B has acquired the domestic sales rights for the renowned Chinese liquor Wuliangye, the company said Tuesday. According to Fidelis F&B, the company held a contract-signing ceremony with Wuliangye manufacturer Yibin Wuliangye Group on Nov. 1.  Fidelis F&B CEO Kim Seong-jun (left) and Yibin Wuliangye Group CEO Wang Ping pose for a photo after a contract-signing ceremony Nov. 1 at Yibin Wuliangye Group headquarters. (Fidelis F&B)Wuliangye is a type of Chinese baiju an

Industry Nov. 13, 2018

The Transport Ministry said Monday that four new budget air carriers have applied for business licenses, amid the government’s plans to add new low-cost carriers by the first quarter of next year. The applications will be reviewed based on the reinforced entry criteria for LCCs.According to the Ministry of Land, Infrastructure and Transport, budget air carriers including Fly Gangwon, Aero K, Air Premia and Air Philip have submitted applications. Another air carrier Guardians is set to apply with

Industry Nov. 12, 2018

Inside a busy discount chain store in Jayang-dong, northeastern Seoul, puppies slightly over 1 year old are put together in plastic boxes with a bottle of water. Most of the breeds sold at E-mart’s Molly’s Pet Shop are Maltese, Miniature Pinscher, Shih Tzu and Yorkshire Terrier, popular for their cuteness and appearance. The pet shop, named after Shinsegae Group Vice Chairman Chung Yong-jin’s dog Molly, is one of the outlets that provide premium pet care and sell pet products. But puppies are di

Industry Nov. 11, 2018