Lee Jun-sik, a 33-year-old office worker who got married two years ago, has mixed feelings about May. Though he is grateful for the family bonding on holidays like Children’s Day and Parent’s Day, the costs of gift-giving drives up the couple’s monthly spending way beyond budget.　“Since our marriage, my wife and I have to worry about preparing sizeable cash allowances or gifts for both our parents as well as our nephews. Combined with all the ‘spring weddings’ in May, it’s a big financial burden

Industry May 5, 2016

Whoo, a traditional herbal skin care cosmetics brand under LG Household & Health Care, showcases Korea’s traditional palace fashion at Gyeongbokgung Palace in Seoul on Wednesday. Whoo and the Cultural Heritage Administration will cohost cultural events at the palace until Sunday as part of their public campaign to promote Korea’s traditional palace culture. (LG Household & Health Care)

Industry May 5, 2016

Shilla I’Park Duty Free has become the first of last year’s newly-licensed duty-free stores in Korea to house the world’s largest luxury goods maker LVMH Moet-Hennessy Louis Vuitton, according to Hotel Shilla Tuesday.　The two companies recently agreed to launch 20 LVMH-owned brands, including Louis Vuitton, Dior, Bvlgari, Tag Heuer, Givenchy and Marc Jacobs, at the Shilla I’Park Duty Free store in Hyundai I’Park Mall in Yongsan.Hotel Shilla president and CEO Lee Boo-jin looks around Shilla I’Par

Industry May 4, 2016

MSD Korea, the local affiliate of U.S.-based pharmaceutical company Merck & Co. on Tuesday said it has named former strategy head of MSD Japan Avi Ben-Shoshan as its new managing director.　　Ben-Shoshan will replace former chief of MSD Korea Hyun Dong-wook, who has led the company for eight years since 2008. Hyun has been named as the global brand leader of Merck & Co.’s global Human Papillomavirus Vaccine business. MSD Korea’s new managing director Avi Ben-Shoshan (MSD Korea)　“I’m looking forwar

Industry May 3, 2016

Korea’s leading cosmetics-maker AmorePacific said Monday that its first-quarter net profit jumped 33.1 percent on-year, led by strong sales in both domestic and overseas markets.Net profit stood at 325.3 billion won ($284 million) in the January-March period, compared with 244.5 billion won during the same period last year, the firm said. (Yonhap)Operating profit rose 30.7 percent on-year to 419.1 billion won during the period, while sales rose 21.8 percent to 1.76 trillion won, it said.Though d

Industry May 2, 2016

The safety and security chiefs of Asiana Airlines and its affiliates Air Busan and Air Seoul signed an agreement last Friday to establish an overarching airline safety control body. From left, Air Seoul’s Lee Han-yong, Asiana Airlines’ Akiyoshi Yamamura and Air Busan’s Chung Chang-jae. (Asiana Airlines)

Industry May 1, 2016

Shinsegae and Doosan, which won licenses to operate their first tax-exempt retail outlets in Seoul last year, will open their new duty-free stores in mid-May.　The two duty-free operators plan to open their stores on May 18, though the date may vary by a day or two, depending on the stores’ preparation progress, the companies said Sunday. The main Shinsegae Department Store in central Seoul (Yonhap)Shinsegae has so far secured a number of global luxury brands including Gucci, Saint Laurent, Botte

Industry May 1, 2016

SU:M37, a natural cosmetics brand operated by Korea’s LG Household & Health Care, on Sunday said it has opened its first store in China in Hangzhou Linping Intime Department Store.Launched in 2007, SU:M37 is a skin care cosmetics brand that utilizes naturally fermented ingredients in its products. It is considered one of LG H&H’s most successful brands, with net sales growing by about 73 percent on-year to 190 billion won ($170 million) in 2015.The new SU:M37 store in Hangzhou Linping Intime Dep

Industry May 1, 2016

Korea’s Ministry of Agriculture, Food and Rural Affairs will be rolling out its “kimchi food truck” in Seoul and Jejudo Island this week, with the aim of promoting kimchi to foreign tourists.　The event targets the estimated 63,000 Chinese tourists who are visiting Korea over the Chinese Labor Day holiday (Apr. 30 to May 2), the ministry said. (123RF)The food truck will offer various kimchi-based dishes, including kimchi fried rice, kimchi pancakes, kimchi dumplings and kimchi egg rolls for some

Industry May 1, 2016

Ikea launches wireless charging furniture in KoreaIkea Korea has launched a wireless-charging furniture collection that lets users charge their smartphones simply by placing their devices on built-in charging docks. Ikea’s smart furniture collection includes a range of bedside tables, floor and table lamps as well as a do-it-yourself kit that lets users embed wireless chargers into any furniture of their choice.All of Ikea’s wireless chargers are based on Qi wireless charging -- a global standar

Industry April 28, 2016

Maeil Dairies Industry, South Korea’s leading manufacturer of dairy products, opened a new farm experience park in Gochang County, North Jeolla Province, last week, with the aim of promoting Korea’s agricultural business.　The “Sangha Farm” was built with an investment of around 37 billion won ($32.44 million) by Maeil, in conjunction with Gochang County and the Ministry of Agriculture, Food and Rural Affairs.  Maeil Dairies Industry CEO Kim Seon-hee (left) and government and company officials pa

Industry April 28, 2016

Samsung BioLogics on Thursday said that it would pursue an initial public offering on South Korea’s main bourse, the KOSPI, with plans to complete the IPO process within this year.The company stated plans to select advisers to lead its IPO by next month to decide on the exact timing and the volume of shares to be offered. Samsung BioLogics declined to comment on the potential size of the IPO. However, industry analysts estimate at least 3 trillion won ($2.6 billion) worth of new shares will be i

Industry April 28, 2016

Every month, 25-year-old Rebecca Kim spends around 700,000 won ($610), sometimes more or less depending on the circumstance, on her two dogs — Cocoa and Oreo. The costs include hiring a dog trainer, routine visits to the veterinarian, and purchasing organic dog food and daily necessities. She also pays for pet hotels, as she is often out of town for work, among other fees. “They’re definitely expensive to take care of and such,” Kim admits. “But in the end, they’re a part of the family and the c

Industry April 27, 2016

South Korean food company CJ CheilJedang on Tuesday said it will introduce its Cupban — instant rice accompanied by Korean soups — to Japan and Hong Kong starting next month. 　Stating from early May, CJ will introduce Cupban -- spun off from its flagship instant rice line Hetban -- at some 600 7-Eleven convenience stores in Hong Kong and up 200 Natural Lawson convenience stores and supermarkets in Japan. CJ’s Cupban, set to be launched in Japan (CJ CheilJedang)“Cupban is going to be the next big

Industry April 26, 2016

Korea’s National Agricultural Cooperative Federation, also known as Nonghyup, on Tuesday said that 26 types of kimchi produced by its Gyeonggi affiliate have been certified as halal.　The Malaysia’s state-led halal certification agency JAKIM has granted halal status to all of the kimchi products produced at the Gyeonggi Agricultural Cooperative Food Association’s production plant in Hwaseong, Gyeonggi Province. (National Agricultural Cooperative Federation)Gyeonggi Nonghyup said with the halal ce

Industry April 26, 2016