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The Korea Herald

Companies

November 20, 2019
LF opens new Hazzys outlet in Ho Chi Minh

South Korean fashion giant LF announced on Nov. 19 that it has opened an additional Hazzys outlet in Vietnam. The new 130-square-meter outlet is located on the second floor of the Diamond Plaza Department Store in Ho Chi Minh City, its fourth in Vietnam. The company explained that the new store c...
November 20, 2019
SK Energy to produce solar power at truck service stations

SK Energy said Nov. 20 its solar power facilities will begin commercial operations in the upcoming months as the company further expands its presence in the environment-friendly energy market. The company said its truck service station in Changwon, South Gyeongsang Province, will produce electr...
November 19, 2019
Estee Lauder to acquire Korean skincare brand Dr. Jart

US-based cosmetics giant Estee Lauder announced on Nov. 19 that it will acquire Korean cosmetics company Have&Be, which is the parent company of popular skin care brand Dr. Jart. Have&Be’s corporate value is expected to total around $1.7 billion, according to industry insiders. Estee Lauder and ...
November 19, 2019
Hanssem Nexus opens new flagship store in Seoul

An affiliate of South Korea’s leading furniture maker Hanssem Group opened a new flagship store in Seoul on Nov. 19. Spread across 3,300 square feet, Nexus Flagship Seoul is located in Nonhyun-dong, southern Seoul, where many upscale furniture stores are concentrated. The new space will displa...
November 19, 2019
[Advertorial] Hyundai launches upgraded Grandeur in S. Korea

Hyundai Motor on Nov. 19 launched the face-lifted Grandeur sedan in the domestic market to strengthen its lineup with competitive models. The upgraded Grandeur comes in four versions with a 2.5-liter gasoline, a 3.3 gasoline, a 2.4 gasoline hybrid or a 3.0 liquefied petroleum injected engine, t...
November 19, 2019
Kia produces over 3 million vehicles in US plant

Kia Motors said Nov. 19 its cumulative vehicle production in the United States has surpassed 3 million units since it entered the world‘s most important automobile market a decade ago. The carmaker built a $1.2 billion plant in Georgia as its third overseas plant after ones in China and Europe...
November 18, 2019
SK Biopharm’s Sunosi receives positive CHMP opinion

SK Biopharm announced on Nov. 18 that its narcolepsy drug Sunosi received a positive opinion from the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP). Narcolepsy is a debilitating neurological disorder characterized by excessive sleepiness. According to SK Biopha...
November 18, 2019
MAN Truck & Bus sees weak sales in S. Korea through next year

MAN Truck & Bus Korea said Nov. 18 it expects sales to remain weak through next year in South Korea, one of the German carmaker’s strategically important markets. The company expects market deamand to be 15 percent lower for the total commercial vehicle market this year compared with last year...
November 17, 2019
Korean Air flight delayed after collision at Frankfurt Airport

Korean Air flight KE 905 collided with another plane on the taxiway in Frankfurt, Germany, on Saturday, delaying the subsequent flight bound for Incheon, the air carrier said Sunday. The incident involving the flight that departed from Incheon occurred Saturday at 6:20 p.m. (local time). While wa...
November 17, 2019
Doosan Bobcat builds global center in U.S. for biz cooperation

Doosan Bobcat Inc., a construction equipment unit of Doosan Group, said Sunday it has set up a global center in the US for business cooperation across the globe. The Global Cooperation Center built in Minnesota will serve as the “control tower,” which will develop new products and share the comp...
November 15, 2019
Celltrion Pharm posts W47.43 b sales in Q3

Celltrion Pharm, the generic arm of Celltrion, announced Nov. 14 that its sales jumped 36.6 percent in the third quarter from a year earlier to 47.43 billion won ($40.7 million). The South Korean company added that its operating profit and net profit moved into the black this quarter, respectively...
November 14, 2019
Iljin Materials receives W600b from STIC Investment

South Korean battery developer Iljin Materials announced Nov. 13 that it has received 600 billion won ($512.47 million) in funding from local private equity firm STIC Investment through its unit in Malaysia. The PEF directly funded Iljn Materials Malaysia through a “STIC special situation fund 2,...
November 14, 2019
Samsung Biologics receives ISO certification

Samsung Biologics announced Nov. 14 that it has received 27001 security certification from the Geneva-based International Organization for Standardization. The company emphasized that it is the first contract manufacturing organization to obtain ISO 27001 certification. German Ambassador to South...
November 14, 2019
NPS to vote for Fila Korea’s split-off plan

The National Pension Service of Korea said on Nov. 14 it will vote in favor of Fila Korea ’s plan to turn into an intermediate holding company and split off its Korean operation under its umbrella. NPS, the world’s third-largest pension fund by assets under management, is Fila Korea’s second-...
November 13, 2019
Korean companies eye global cosmetics brand Physiogel

Korean cosmetics giant and private equity firms are considering acquiring global cosmetics brand Physiogel, which is known for its moisturizers, according to industry sources Nov. 13. In June, global pharmaceutical company GlaxoSmithKline decided to sell Physiogel as part of its plan to restructur...

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