The Korea Trade-Investment Promotion Agency said Sunday that it has opened a “Korea Desk” in Myanmar to support trade and investment between the two countries. Launched with the backing of South Korea’s Ministry of Trade, Industry and Energy and Myanmar’s Commerce and Investment ministries, the Myanmar Korea Desk will offer help to companies from both countries wishing to branch out into each other’s markets. While Korean businesses in Myanmar can receive new or

Industry Dec. 27, 2020

South Korea’s major corporate groups are opting out of hosting New Year’s kickoff meetings in person this year, as the coronavirus outbreak shows no signs of abating, according to industry sources. Companies such as Samsung and Hyundai Motor typically host large-cale staff meetings at auditoriums on the first workday of January to mark the beginning of a new year. But the ongoing global pandemic has made the logistics of holding such an event difficult, forcing companies to go onli

Industry Dec. 27, 2020

Two major alcohol companies in Korea have one thing in common lately -- a high-profile retro mascot that has become the face of the company. Oriental Brewery brought back its nostalgic bear character from the 1980s known as “Lala Bear,” while its rival HiteJinro released a blue bottled soju featuring its famous toad mascot last year, a character that dates to 1954. Their foray into soft power territory comes following a year dominated by “Pengsoo,” a beloved giant peng

Consumer Dec. 24, 2020

US fashion brand Thom Browne said on Tuesday it will launch its perfume line in Korea. A total of six perfumes will be released, including “09.27.65 Eau de Parfum,” also known as Vetyver Absolute, and “09.27.65.01 Eau de Parfum,” which is also called the Vetyver and Cucumber. The fragrances contain a high concentration of Haitian Vetyver oil and its vetyver blend serves as the base signature of the products. The names reference designer Thom Browne’s birthday of

Consumer Dec. 22, 2020

Retailers are in a final push for last-minute Christmas shopping in a year marred by the coronavirus pandemic. As the country grapples with a third wave of virus outbreaks, gatherings of five or more people are banned until early January in Seoul and surrounding areas. Despite the dampened mood, retail companies are trying to make the most of the situation, encouraging gift-giving as a way to celebrate the season safe from the virus. Shinsegae Department Store said Tuesday it would offer free

Consumer Dec. 22, 2020

T’way Air has signed a letter of intent to lease three Airbus A330-300 jets late next year to introduce new medium and long-haul flights, the South Korean low-cost carrier said Monday. The move comes as part of the budget airline’s efforts to prepare for a rebound in air travel demand after the pandemic that has dealt a severe blow to the aviation industry is over. The budget airline currently operates 27 B737-800 chartered aircraft on routes to Vietnam, China, Japan and Taiwan. Bu

Mobility Dec. 21, 2020

A new survey has revealed that face masks, hand sanitizers and other personal protective equipment against the coronavirus are among the least-wanted gifts during this year’s Christmas. While the pandemic-safe gifts failed to drum up enthusiasm, cash and gift cards were the most wanted gifts, found the survey conducted by job reccrutiing portal Incruit. Though antivirus items remain crucial amid the ongoing pandemic, people are not looking forward to receiving them as gifts for the hol

Consumer Dec. 21, 2020

Drinking is fun for a lot of people. And in the midst of the coronavirus pandemic, some of us are guilty of finding solace in downing a few extra drinks at home. Even those who have a low tolerance for alcohol don’t have to feel left out, as major beer companies have released nonalcoholic or low-alcohol beers in recent years. They are as accessible as it gets. Nonalcoholic drinks are available on online shopping platforms, as their alcohol content by volume below 1 percent excludes them

Consumer Dec. 20, 2020

South Korea needs to focus on strengthening its technical competence as the trade war between the US and China and tech decoupling continues, an economic researcher warned Friday. Speaking at an online conference entitled “Next Trend,” associate researcher Yeon Won-ho at the Korea Institute for International Economic Policy said it is hard for South Korean businesses to benefit from the sanctions between the US and China as both countries are focusing on building their domestic indu

Industry Dec. 18, 2020

Online retailer Coupang is holding a contest of consumer experience stories, with prize money of 25 million won ($23,000) in total. Coupang users with stories to share should submit their entry to its website or on its mobile platform by Dec. 27. The retailer is best known for its next-day Rocket Delivery service. “We prepared this event to communicate with and express our appreciation to the customers,” said the e-commerce giant in a statement. “While this is a tough tim

Consumer Dec. 18, 2020

Korean Air CEO Cho Won-tae has been awarded with a gold medal of honor medal by the French government for his contributions to enhancing relations between Korea and France. During a ceremony in Seoul on Thursday, Franck Rieste, the visiting minister-delegate for Foreign Trade and Economic Attractiveness of France, bestowed the honor on the Korean businessman for continuing direct flights between the two countries despite a sharp decrease in passengers. The medal is given to those who have cont

Mobility Dec. 18, 2020

Remote work and home entertainment devices have enjoyed a surge in sales in recent weeks as the coronavirus pandemic worsens, major online shopping platforms said on Thursday. According to Tmon, sales of work-from-home and entertainment electronic appliances saw a 270 percent year-on-year increase on average in the last two weeks. While sales of PCs were up 162 percent, desktop computers saw a 143 percent increase in sales. Laptops, webcams and graphic cards also enjoyed a sales bump as well a

Consumer Dec. 17, 2020

Low-cost carrier Air Busan will make goggles mandatory for all cabin crew from Thursday, including those on domestic flights, as South Korea struggles to rein in coronavirus outbreaks. Before, only those on international flights had to wear safety glasses. The company said the measure would “relieve the worries of passengers.” Korea announced over 1,000 new cases Thursday, with over 400 of those cases in Seoul. The new move will also see ground staff wear goggles and masks and be

Mobility Dec. 17, 2020

Alcohol companies are eyeing home drinkers rather than bar goers during the first pandemic year-end season as a third wave of the COVID-19 outbreak threatens hospitality businesses across South Korea. In a more normal setting, restaurants and bars would be packed with group dinner reservations as the year draws to a close. But not this year, with venues being forced to close after 9 p.m. in Seoul and surrounding areas under strict social distancing rules. “As the hospitality sector has

Consumer Dec. 15, 2020

As giving gifts in person is harder to do this year amid calls to reduce human contact to stop the spread of the coronavirus, online gift-giving is enjoying a surge in popularity, industry sources indicated Sunday. SSG.com, retail giant Shinsegae Group’s online shopping platform, said sales generated from its gift service saw a 64.6 percent year-on-year increase between January and November this year, citing internal data. Among the brands available on the website, it was coffeehouse cha

Consumer Dec. 13, 2020