Fashion company Handsome said Wednesday that it has inked the final deal to acquire the fashion division of SK Networks on Tuesday, allowing it to begin operating the twelve brands previously held by the SK company.Handsome, which is owned by the Hyundai Department Store Group, acquired SK Networks’ fashion division for 300 billion won ($265.5 million). Promotional image for O'2nd (Handsome)As part of the acquisition process, Handsome also renewed import contracts with foreign brands that were d

Industry March 1, 2017

Lufthansa Group Airlines said Tuesday it had appointed Andrew Kim as its new general manager for its Korean branch, effective Wednesday.Korean-American Andrew Kim joined Lufthansa German Airlines in 2005 and has held various leading positions in sales, corporate accounts and commercial and passenger business. Andrew Kim (Lufthansa)Kim has served postings in Korea, Singapore, Indonesia and Malaysia. He most recently served as the General Manager in Indonesia and Malaysia.“Based on his in-depth un

Industry Feb. 28, 2017

Lotte Group‘s decision to provide land for the installment of an anti-missile Terminal High-Altitude Area Defense battery here is stoking fears about the possibility of economic retaliation from China.On Monday, Lotte Group decided to swap its golf course in Seongju, North Gyeongsang Province, for a military property in Namyangju, Gyeonggi Province, to allow the installment of the THAAD battery in the southern region.Although the swap was initially worked out last November, it had faced continue

Industry Feb. 28, 2017

Korean Air’s new President Cho Won-tae on Monday said the airline will aim to boost sales with its cutting-edge aircraft and ensure passenger safety by making changes to the carrier’s safety policies.At an event at Korean Air’s Incheon Airport hangar to unveil the new Boeing 787-9 Dreamliner that will begin servicing flights in mid-March, Cho spoke to reporters on board the plane in his first public press appearance since being named president.Cho, who is the son of Korean Air Chief Executive Of

Industry Feb. 27, 2017

A new regional airline hoping to specialize in bringing tourists to the Gangwon Province area was denied an operating license by the Ministry of Land, Infrastructure and Transport, according to the airline Friday.In a statement, Fly Yangyang said the Transport Ministry decided not to issue an operating license due to “the risk of financial instability in the early stages of operation as well as insufficient safeguards for safety and consumer convenience.”If the license had been granted, Fly Yang

Industry Feb. 24, 2017

McDonald’s Korea said Friday it has been awarded a top corporate social responsibility prize for contributions to the regional community.The Happy+ Social Contribution Awards are organized jointly by the Korea Employers Federation and Association of Korean Journalists. This is McDonald’s third year receiving the award for its work sponsoring the Korea Ronald McDonald House Charities, an organization that provides housing near hospitals for families of children who need long-term hospital care. 　

Industry Feb. 24, 2017

Public relations and management consulting agency Emerson K Partners said Thursday that it had created a new branch in Thailand.The Thai branch of the agency will be headed by Thanapat Ujjin, an expert in Thai sports and entertainment.  (From left): Waraporn Puangthai, Emerson K Partners Thailand VP, Park Ki-hwan, Emerson K Partners CEO, Thanapat Ujjin, Emerson K Partners Thailand CEO (Emerson K Partners)“We hope that Emerson K Partners will grow to become the most competitive and trusted PR con

Industry Feb. 23, 2017

Air carrier Asiana Airlines said Thursday it has installed an Airbus 350-900 flight simulator for its flight crew training. The simulator is a replica of the cockpit of the actual Airbus aircraft. It is designed to provide hands-on training for situations such as aircraft upsets and in-flight fires, according to the airline. It cost 20 billion won ($17.6 million). (Asiana Airlines)It is the latest addition to Asiana’s existing set of five simulators, which simulate models such as the Boeing 777

Industry Feb. 23, 2017

Lotte Group completed group restructuring and naming new executives Thursday, to refresh corporate management under chairman Shin Dong-bin.After a tumultuous year filled with owner family feuding and allegations of shady transactions, Shin Dong-bin affirmed himself as the official leader of the company, pushing out his older brother Dong-joo and his father Shin Kyuk-ho from frontline management. In October, Lotte Group hired McKinsey & Company for management consulting services to restructure th

Industry Feb. 23, 2017

Global premium spirits maker Diageo said Wednesday it will be providing consumers with alcohol content and nutritional information per serving on bottles of its W Signature by Windsor products.The information will follow the guidelines set out by the Diageo Consumer Information Standard, an “internal standard that has been in place within the company since the early 2000s, and is being put on labels for the first time in Korea,” according to a company spokesman. Nutritional information for W Sig

Industry Feb. 22, 2017

Korea’s largest air carrier sent a request to the Transport Ministry on Tuesday to postpone the start of its Iran flights.According to a spokesman for the airline, the major reason for the delay was the difficulty of beginning the service in the face of escalated tension between US and Iran, with Washington tightening sanctions on the Middle Eastern country.  (Korean Air)“The restrictions on dollar transactions makes it difficult for us to set up a branch in Iran and sell tickets,” he said. Kore

Industry Feb. 22, 2017

Convenience store chain GS25 said Tuesday that it has partnered with LG Household & Health Care’s cosmetics brand Beyond, looking to expand its sales by setting up a new cosmetics category.The two companies said they agreed to the launch after seeing growth potential in cosmetics sold through convenience stores. GS25’s sales in the personal care category have been rising steadily, with a 10.3 percent on-year rise in 2014, 16.9 percent rise in 2015 and 19.7 percent in 2016.“We have existing perso

Industry Feb. 21, 2017

DRINK RESPONSIBLY -- Premium alcoholic beverages company Diageo said Monday it will be holding lectures on responsible drinking called “DrinkiQ” for college freshmen at nine universities nationwide through mid-March. The lecture series, which includes tips for a more responsible drinking culture, has been hosted by Diageo since 2009. Pictured is Diageo Korea Director Lee Deok-won giving a DrinkiQ lecture at Hankuk University of Foreign Studies, Global Campus on Sunday. (Diageo Korea)

Industry Feb. 20, 2017

The website of Korea’s second-largest carrier was hacked early Monday morning, temporarily sending users to a different webpage.According to Asiana Airlines, its website flyasiana.com suffered a Domain Name System attack around 4:35 a.m. on Monday. Users who attempted to access the site were sent to an image screen depicting men in masks and a hateful message about the feud between Serbians and Albanians, as well as the Newborn Monument in Pristina, Kosovo, which was created to commemorate Kosov

Industry Feb. 20, 2017

BUSAN -- About 10 minutes outside Gimhae International Airport in Busan stands a cluster of buildings that make up the Korean Air Busan Tech Center. Housing facilities for airplane maintenance, repair and overhaul as well as manufacturing, the 710,000-square-meter complex is where Korean Air is currently building parts for the new Boeing 787-9 Dreamliner.Korean Air is best known for its commercial airline, but at the Busan Tech Center it has also been in charge of maintaining aircraft as well as

Industry Feb. 19, 2017