A lack of information and confusion deter smokers from switching to alternative options such as heat-not-burn tobacco, according to industry data compiled by Philip Morris International released Wednesday.According to a survey conducted by research firm Povaddo on behalf of PMI, about 55 percent of adult smokers surveyed said they have the information they need about smoke-free products, while 4 in 5 respondents said they agree that a change in their smoking habits was needed.The survey was cond

Industry Aug. 21, 2019

Home furnishing retailer Ikea Korea said Wednesday it will open two more stores in Korea by the end of the first half of 2020 and expand customer touchpoints within the capital. According to the Swedish furniture giant, Korea’s third Ikea store will open in Giheung, Gyeonggi Province, on Dec. 12. The first Ikea store to sit outside the Seoul and Gyeonggi Province metropolitan area, Ikea Dongbusan, will open in the first quarter of 2020.  “Thanks to the great support and int

Industry Aug. 21, 2019

Jeju Air, the country’s top low-cost carrier in terms of sales, said Wednesday that it will continue to focus on a customer-oriented business strategy for its future growth, having introduced a new seat arrangement last month as part of those efforts.Called New Class and revealed in time for the July 4 launch of the Busan-Singapore route, the new premium service is designed for passengers who want more space between seats, the airline explained.  To offer this “premium economy c

Industry Aug. 21, 2019

Hyundai Motor Group unveiled Wednesday a rendering of its new truck Pavise, which will go on sale next month. There had been rumors that Pavise would be a new crossover after the company trademarked the name in April. According to Korea’s largest automaker, Pavise stands for practical, adaptable, volume, information, safety and economical.Hyundai Motor said the new truck’s grille design has a powerful structure with dynamic strokes. The front grille was designed to be solid and

Industry Aug. 21, 2019

Korean Air is expanding its Southeast Asian, Chinese and Oceania routes, in response to falling demand for air travel to Japan amid the ongoing trade row between South Korea and Japan.According to Korean Air, it is reorganizing and expanding some of its international routes to make up for lower demand for flights to Japanese cities. The full-service air carrier will add seven weekly Incheon-Clark flights from Oct. 27. It will also expand the current 14 weekly flights on the Incheon-Da

Industry Aug. 20, 2019

Hit with the triple whammy of global trade conflicts, diminished profitability and management risks, South Korea’s two full-service air carriers have decided to severely cut back on cargo services to carry through their quarterly operating loss, which exceeds 100 billion each.Korean Air and Asiana Airlines both said Monday that they were suspending domestic cargo delivery service as of October, in an effort to improve their financial situation after reporting poor second-quarter earnings a

Industry Aug. 19, 2019

Stocks of the country’s largest full-service carrier, Korean Air, hit another record low on Friday after the company reported poor second-quarter earnings amid a deteriorating business environment and hefty foreign exchange losses.On Friday, shares of Korean Air fell 0.2 percent to close at 22,850 won ($18.87) per share, recording a new 52-week low, while the benchmark Kospi remained relatively steady. According to Korean Air, the airline recorded 3.2 trillion won in sales from April to Ju

Industry Aug. 16, 2019

South Korean full-service carrier Asiana Airlines said Friday that it would expand its Incheon-New York route to twice a day starting Nov. 24.The air carrier currently flies Incheon-New York route only once in the morning. The newly added flight will depart from Incheon at 9:50 p.m. and the company plans to assign the new A350 flight, which can sit 311 passengers for user convenience during the long-haul flight.The company said that this new route would benefit those who want to depart to New Yo

Industry Aug. 16, 2019

Samyang Foods and Homeplus said Wednesday that an accumulated 1.3 million packs of Samyang Kookmin Ramyun have been sold since its launch June 13. Samyang said the product was developed jointly with Homeplus to provide instant noodles at a reasonable price. Samyang Kookmin Ramyun is sold only at Homeplus stores and costs 2,000 won ($1.65) for a bundle of five packs. The word “Kookmin,” meaning people in Korean, is often used in describing a brand or product to suggest popul

Industry Aug. 14, 2019

Incheon International Airport Corp. said Wednesday that the airport’s accumulated number of passengers has surpassed 700 million. To mark the milestone, the operator of South Korea’s main gateway held various events, including giving a round-trip ticket and a Turtle Ship made of pure gold to the 700 millionth passenger who arrived at Incheon Airport.  IIAC said the achievement of marking an accumulated 700 million passengers since its opening in March 2001 is meaningful, as

Industry Aug. 14, 2019

More South Korean retailers are joining the industry-wide boycott of Japanese cosmetics brand DHC after the company’s beauty TV channel aired offensive content allegedly mocking Koreans and the country’s history. According to the health and beauty industry, retail conglomerate Lotte Group’s online unit Lotte.com has decided to temporarily suspend sales of DHC products from Tuesday. Another retail giant Shinsegae stopped selling DHC cosmetics on its e-commerce platform SSG.

Industry Aug. 14, 2019

Starbucks Korea said Tuesday that it has donated a piece of handwriting by Korean independence activist Dosan Ahn Chang-ho during an event to support and protect independence patriots, their descendants and heritage. 

Industry Aug. 13, 2019

British American Tobacco launched a fusion technology-based hybrid e-cigarette Glo Sens on Tuesday in South Korea, seeking to counter competition from KT&G’s Lil Vapor and American startup Juul Labs’ Juul. According to the company, Glo sens -- which was launched here first globally -- is powered by Taste Fusion Technology, which combines vaping with real tobacco. By heating a Neo pod, which contains flavored liquid, the vapor goes through a tobacco pod and delivers the

Industry Aug. 13, 2019

South Korean builders SK Engineering & Construction and Daelim Industrial said Tuesday they won the Project Finance Deal of the Year award for securing a $3 billion construction deal in Turkey. The two companies clinched the deal as preferred bidders in 2017 through a four-way consortium comprising SK E&C, Daelim and two Turkish builders, Limak and Yapi Merkezi. Dubbed the Turkey Canakkale project, it involves building a 3.7 kilometer-long suspension bridge in Turkey, the longe

Industry Aug. 13, 2019

Amid a nationwide boycott of Japanese goods, including fashion items, household products and cars, sales of Japanese vehicles waned last month, while sales increased for German carmakers, industry data showed Sunday. According to the Korea Automobile Importers and Distributors Association, Japanese automotive companies, such as Toyota, sold a combined 2,674 units of vehicles in July, taking up 13.7 percent of market share, down 6.7 percentage points from the previous month.　This marked the

Mobility Aug. 11, 2019