Cosmetics brand TonyMoly appointed Bae Jin-hyung, the chairman’s daughter, to its board of directors at a shareholders meeting Monday.The decision of the chairman, who holds 30.93 percent stake, to appoint his 26-year-old daughter to the board was seen by some as being reckless and premature. A graduate of New York University, the junior Bae has been with TonyMoly for just six months, joining the company last September. She is currently working at the company’s overseas sales department.Industry

Industry March 29, 2016

Over 8 million people flew on passenger planes in February 2016, marking a strong increase from last year, according to the Ministry of Land, Infrastructure and Transport on Tuesday.In February, about 2.28 million people took domestic flights in Korea while 5.85 million people took international flights. The numbers showed an approximate 15 percent increase in passengers both domestic and international, relative to February 2015.The Transport Ministry said that the 15.3 percent increase in inter

Industry March 29, 2016

With Me, Shinsegae Group‘s convenience store chain, has rolled out a new line of coffee priced at 500 won (43 cents) per cup, the cheapest takeout coffee ever, the company said Monday.Labeled “Take 1,” the line is the latest development in the fierce competition over low-cost takeout coffee among convenience store chains in Korea. Convenience store coffee (Yonhap)The three major convenience store chains in Korea -- CU, GS25 and 7-Eleven -- all offer takeout coffee priced between 1,000 and 1,200

Industry March 28, 2016

Korean Air and its budget carrier affiliate Jin Air will have six more codesharing routes to offer passenger convenience, Korean Air said Monday.Starting Monday, Korean Air will codeshare with Jin Air on flights from Incheon to Clark in the Philippines, Hanoi in Vietnam, Honolulu in Hawaii and Taipei, as well as flights from Busan to Cebu in the Philippines and Da Nang in Vietnam. The two air carriers will share ticket sales on the same route through a codeshare agreement. On codeshared flights,

Industry March 28, 2016

E-commerce platform n11.com, operated by a subsidiary of leading mobile operator SK Telecom, topped the online market in Turkey in 2015, the Korean company said Monday.SK Planet, which owns the online marketplace 11st.com here, launched the Turkish version of the site in March 2013. n11.com, SK Planet’s online marketplace in Turkey (SK Planet)“As a latecomer to the industry, we faced tough competition and lacked infrastructure, but we armed ourselves with the mindset of a start-up in the e-comme

Industry March 28, 2016

The Tunisian Embassy last week celebrated the 60th anniversary of the country’s independence from France and the start of an institutional democracy following the 2011 Jasmine Revolution. “On 20th March 1956, our country retrieved freedom and sovereignty and set up the foundation of a modern republican state,” Tunisian Ambassador Mohamed Ali Nafti said in a speech at a reception at Lotte Hotel on March 21. “The January 2011 Revolution ushered in a new era of hope for a better future, where digni

Foreign Affairs March 27, 2016

The revenue earned from rice farming in Korea fell 6.1 percent on-year despite lowered production costs and increased yields in 2015, data from Statistics Korea showed Friday.Production costs for paddy rice fell 4.1 percent from 721,000 won ($616) to 692,000 won per 1,000 square meters in 2015, due to reduced spending on labor and equipment. Despite this, the yield rose from 520 kilograms to 542 kilograms per 1,000 square meters. However, rice farmers saw their total revenue decline because of a

Industry March 27, 2016

Space has become a new theme powering ticket sales in Korean theaters of late, thanks to the growing interest in science as well as evolving visual technology.The past three years at the Korean box office have seen a string of successful Hollywood movies set in space. Alfonso Cuaron‘s “Gravity” set the spark in October 2013, followed by the blockbuster hit “Interstellar” by Christopher Nolan in November 2014, and “The Martian” and “Star Wars: The Force Awakens” just two months apart in late 2015

Film March 25, 2016

In Korea, the “cup food” phenomenon has long been a big part of the fast-paced lifestyle here, but it has lately been growing popular abroad too. “Cup food” is a Korean term referring to one-dish meals that are usually sold in a small container – including paper boxes and cartons -- to allow customers to eat on the go. It originated from the many carts that line the streets of Seoul, offering quick bites and simple meals in paper cups. The “Cupban” line from CJ CheilJdang (CJ CheilJedang)One loc

Industry March 24, 2016

Shinsegae Group announced Wednesday that a shopping complex -- the first to open under its new Starfield brand -- will open in September in Hanam, Gyeonggi Province.Named personally by Shinsegae Group vice chairman Chung Yong-jin, Starfield represents Shinsegae’s vision for creating a “shopping theme park“ that offers both shopping and other forms entertainment to visitors.  Plans for Starfield First Hanam (Shinsegae)“Customers no longer focus only on buying what they need,” vice chairman Chung

Industry March 23, 2016

Japanese fashion brand Uniqlo led sales in the fast fashion industry in Korea last fiscal year, followed by the home-grown brand Daiz of discount retailer E-mart.According to Uniqlo’s disclosure provided by the Financial Supervisory Service, the brand saw sales of 1.12 trillion won ($957 million) in the fiscal year beginning September 2014, breaking the coveted 1-trillion-won mark just 10 years after entering the Korean market in 2005.Following Uniqlo was E-mart’s private brand Daiz, which saw s

Industry March 21, 2016

Singapore Airlines has appointed Seah Chee Chian as the new general manager for its Korean branch, the airline announced Monday.After joining Singapore Airlines in 2008 as a technical services engineer, Chian rose through the ranks as a direct sales executive and regional marketing manager for Southeast Asia. His most recent post was manager of Singapore Airlines‘ Southern Indian business, a post he served for two years starting in 2014. Seah Chee Chian (Singapore Airlines)At his previous positi

Industry March 21, 2016

Asiana Airlines has introduced a new menu filled with modern reinterpretations of traditional Korean palace foods, the company said Sunday.The menu includes items such as steamed beef ribs, marinated grilled beef slices called neobiani and seasoned spring greens. It will be available for flyers in the airline’s First Class Lounge at Incheon International Airport. Models pose with Asiana Airlines’ new Korean food menu, available in the Asiana First Class Lounge at Incheon International Airport. (

Industry March 21, 2016

The chairman of American pharmaceutical giant Eli Lilly & Co. visited the headquarters of Samsung BioLogics and Samsung Bioepis on Wednesday, fueling speculations on whether Eli Lilly and Samsung are mulling a potential partnership.Industry watchers speculate that due to the timing of the visit, Eli Lilly may be considering partnering with the two Samsung biologic companies. Eli Lilly is currently preparing to launch Basaglar, a biosimilar replication of Sanofi’s blockbuster diabetes drug Lantus

Industry March 17, 2016