Shinsegae Food will be jumping into the food market with a new brand set to roll out in September, according to the company.This is the first time in the company’s 21-year history that it is creating its own brand, although it had previously launched the brand Peacock for its supermarket affiliate E-mart, and manufactured other generic products.The new brand is expected to focus on the home meal replacement market, which has picked up momentum this year.While Peacock faced difficulties widening

Industry July 18, 2016

Wolfgang‘s Steakhouse in Seoul is an unusually large restaurant, especially for the upscale Cheongdam-dong area of Seoul. Step inside and walk past the mahogany reception desk, and the main dining hall seems to spread out endlessly, countless tables covered in white tablecloths floating above wooden floors. Overhead, private dining rooms line the second floor.“Our Seoul branch is about twice the size of some of our other restaurants,” said Peter Zwiener, who currently heads up the franchise, on

Industry July 18, 2016

British American Tobacco Korea has raised the price of its Kent cigarettes as of Monday, according to the company.BAT Korea increased the price of Kent Convertible 6 milligrams cigarettes -- the only product in the Kent line currently sold in Korea -- from 4300 won ($3.80) to 4500 won, the standard price of cigarettes here.Kent Convertible 6 mg is the only product that BAT Korea imports from its Singapore factory to the Korean market. All other BAT products sold in Korea are made in its factory

Industry July 18, 2016

A Korean Air flight bound for Hawaii was canceled Sunday night at its transfer point in Japan after a defect was found in the engine’s generator, according to the airline Monday.The 220 passengers on board flight KE001 were stranded at Narita Airport in Tokyo overnight.According to Korean Air, the plane could not leave as soon as the generator was fixed because of Narita Airport’s regulations regarding nighttime takeoffs.Passengers spent the night at the airport lounge because there were no othe

Industry July 18, 2016

The number of registered cars in Korea has increased by nearly 500,000 in the past six months to exceed 21.4 million vehicles, according to the Ministry of Land, Infrastructure and Transport. This is equivalent to one car registered for every 2.4 Koreans.

Industry July 17, 2016

Travelers trying to get from Incheon International Airport to Seoul can do so with ease by using the Airport Express railway system, which can take them directly to Seoul Station. According to data from the Korea Tourism Organization, 98 percent of tourists from English-speaking countries find their way from the airport to Seoul by themselves. Travelers receive information about the airport railroad at the transfer gate at Seoul Station.(AREX)Although there are several ways to get to the city fr

Industry July 17, 2016

This is the second installment of a series of articles on companies in Korea striving to enter the world’s luxury market. -- Ed.From outside, the building seems nondescript. It sprawls wide and low amid the serene natural scenery of Buyeo in South Chungcheong Province, looking like a government building or perhaps a school.But once inside, the rumbling hum of machinery, bright clean rooms and head-to-toe white paper gowns make it clear that this is a factory where something precious is created.

Industry July 17, 2016

Furniture-maker Ikea is facing public outcry over its refusal to recall dressers that have been linked to six deaths in North America from its Korean stores, despite recalling the line from its stores in the U.S. and Canada.The problematic Malm dressers are still available for purchase in Korean Ikea stores. Roughly 40,000 of them have been sold in Korea since they were first released in December 2014.The dressers must be firmly attached to the wall before being used to prevent them from tipping

Industry July 14, 2016

The production of soju has hit a record high this year, surpassing 581,000 kiloliters from January to May, data showed Thursday.According to Statistics Korea, soju production rose 0.4 percent on-year to reach 581,563 kiloliters. This is equivalent to nearly 30 bottles of soju per Korean person.The number includes different variations on soju, such as those infused with fruit flavors.The spike in soju production is attributed by many industry watchers to a sluggish economy. Soju is one of the che

Industry July 14, 2016

In the lobby of AmorePacific‘s Beauty Campus in Osan, Gyeonggi Province, stands the gigantic installation “Fractal Turtleship” by media artist Paik Nam-june, created to commemorate the opening of the Korea exhibition at the Venice Biennale in 1995.“It presented what Korea had to the world, and embodied the philosophy of breaking down barriers between East and West, between science and art, the everyday and the artistic,” AmorePacific chairman Suh Kyung-bae said about his choice to Maeil Business

Industry July 13, 2016

The numbers say it all: cosmetics is hot right now in Korea, soaring above the country’s struggling traditional sectors that include manufacturing, shipbuilding, electronics and construction.Behind the success of Korea’s booming cosmetics industry stand two men who made it all happen: Suh Kyung-bae, the 53-year-old head of leading cosmetics company AmorePacific, and Cha Suk-yong, 63, of rival LG Household & Healthcare.The two companies have major differences. AmorePacific is almost exclusively a

Industry July 13, 2016

In the early 1960s, Korea’s top export product was iron ore, but this eventually changed over the decades to apparel and then to semiconductors, data from the Korea International Trade Association showed Tuesday.Over the same period, Korea’s biggest export market also changed from Japan to the U.S. and then to China, which bought 26 percent of all Korean exports last year. When KITA was established in 1946, Korea had just four countries as trade partners, but this has since grown to 240, as of l

Industry July 12, 2016

Cho Hyun-min, the youngest daughter of Hanjin Group chairman Cho Yang-ho, has been promoted to vice president of Jin Air, the group’s low-cost carrier, the company said Friday.The 33-year-old Cho, who was the marketing director, will continue to oversee the company’s marketing operations as vice president.  Cho Hyun-min (Jin Air)Cho is the younger sister of Cho Hyun-ah, 42, the former executive vice president of Korean Air who made international headlines for the “nut rage” incident. Her older b

Industry July 8, 2016

Prosecutors on Thursday morning arrested Shin Young-ja, the chairwoman of Lotte Foundation and older sister of Lotte Group chairman Shin Dong-bin, as they investigate allegations of her involvement in bribery and embezzlement. The Seoul Central Court issued the arrest warrant at around 2 a.m. on Thursday, and Shin was immediately taken into custody.She is the first member of the Shin family -- which rules over the Lotte empire in Korea and Japan -- to be officially arrested in prosecutors’ inves

Industry July 7, 2016

Consumers in South Korea are reportedly preparing to file civil and criminal suits against local water purifier rental company Coway over its cover-up of defective ice water purifiers containing nickel.Thousands of Coway customers have formed legal action groups through online communities and are getting in touch with lawyers to determine further actions, according to local news reports.One online community against Coway has already amassed 2,700 members in just two days, with more than 400 peop

Industry July 7, 2016