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The Korea Herald

Retail & Consumer

November 05, 2018
Kurly denies rumors of stake sale to Kakao

[THE INVESTOR] Kurly, a grocery delivery platform operator, on Nov. 5 denied rumors that Korea’s largest mobile messenger operator Kakao is considering acquiring its shares. According to a local news report, the Korean tech giant currently has had discussions with executives of Kurly to acquire ...
November 04, 2018
Ministry to review approval of new budget air carriers

[THE INVESTOR] Following the revision of the licensing system for low-cost carriers, the government said it will complete a review of license applications for new LCCs by the first quarter next year. According to the Ministry of Land, Infrastructure and Transport, budget air carriers including F...
November 01, 2018
SmartStudy gears up for IPO in 2020

[THE INVESTOR] Korean education startup SmartStudy, which owns intellectual property rights of hit animated characters including Pinkfong, is preparing to go public in 2020, according to industry sources on Nov. 1. According to sources, SmartStudy recently sent a request for proposals to few majo...
October 31, 2018
Hyundai Department Store opens first duty-free outlet

[THE INVESTOR] Korean retail giant Hyundai Department Store on Oct. 31 announced that its first duty-free store in Seoul will start operations from tomorrow. Hyundai Department Store Duty Free has renovated the existing three floors of the existing department store’s World Trade Center branch, s...
October 31, 2018
Shinsegae secures W1tr to expand online business

[THE INVESTOR ] Korean retail giant Shinsegae Group has secured funds worth 1 trillion won (US$877.42 million) from two global private equity firms to expand its presence in the e-commerce market here, according to industry sources on Oct. 31. Affinity Equity Partners and Blue Run Ventures have r...
October 30, 2018
Bodyfriend introduces brain massage tech

[THE INVESTOR] Korean massage chair maker Bodyfriend on Oct. 30 revealed its new brain massaging technology during a press conference in Seoul. “We are the first company in the world to introduce brain massage technology and have registering the patent,” said Bodyfriend CEO Park Sang-hyun. The...
October 30, 2018
Retail sales up 7% in Sept.

[THE INVESTOR ] Korea’s retail sales increased in September from a year earlier thanks to robust sales during the Chuseok holiday season, government data showed on Oct. 30. The combined sales of 26 major offline and online retailers reached 11.03 trillion won (US$9.65 billion) last month, up ...
October 29, 2018
Woongjin consortium to buy back Coway

[THE INVESTOR] Woongjin Group announced on Oct. 29 that a consortium led by it will buy back water purifier rental firm Coway, which it had sold in 2012, for 1.68 trillion won (US$1.47 billion). The consortium formed by Woongjin Thinkbig and Korean private equity firm STIC Investment, has reporte...
October 28, 2018
Arrival duty-free shop to tentatively open in May 2019

[THE INVESTOR] Incheon International Airport announced on Oct. 28 it started detailed research on the country's first arrival duty-free shop, which will tentatively open in May. The move came as the government decided in September to allow duty-free shops at arrival terminals in a bid to reduce d...
October 26, 2018
CJ Logistics partners with STIC Investment to acquire Schnellecke

[THE INVESTOR] CJ Logistics has decided to form a consortium with Korean private equity firm STIC Investment to acquire German-based logistics company Schnellecke, according to industry sources on Oct. 26. STIC Investment reportedly plans invest around 200 billion won (US$175.19million) to 300 bi...
October 26, 2018
Taiwan’s Want Want joins bid for Woongjin Foods

[THE INVESTOR] Taiwan-based snack food giant Want Want Group is the latest to submit a preliminary bid to acquire Woongjin Foods from private equity firm Hahn & Co, according to industry sources on Oct. 26. Want Want has reportedly shown strong interest in acquiring 74.75 percent stake in the Kor...
October 25, 2018
Haimarrow Food Service eyes expansion in US

[THE INVESTOR] Haimarrow Food Service, a local hamburger franchise operator, announced on Oct. 25 that it has decided to officially enter the US before the year-end. Established in 2004, it is known for its hamburger franchise chain Mom’s Touch, which currently has over 1,140 stores as of August...
October 24, 2018
LOTTE Confectionery to acquire Myanmar’s L&M Mayson

[THE INVESTOR] Korea’s leading snack maker LOTTE Confectionery announced on Oct. 24 that it has decided to acquire L&M Mayson, a top bakery firm in Myanmar. The Korean company will buy 80 percent stake in L&M Mayson for 76.9 billion won (US$68.08 million). Established in 1996, L&M Mayson produc...
October 24, 2018
Lotte to inject around W50tr in 5 years

[THE INVESTOR] Lotte Group on Oct. 23 announced that it will inject around 50 trillion won (US$44 billion) in all of its foreign and domestic business units over the next five years. “Our funding plan aims to normalize and speed up our business that has been growing slowly during the leadership ...
October 24, 2018
Police refer Orion vice chief to prosecution for embezzlement

[THE INVESTOR] Police said on Oct. 24 they have referred the vice chairwoman of Korean confectionery maker Orion Group to the prosecution recommending she be charged for embezzlement. Lee Hwa-kyung had been under police investigation for allegedly spending 20.3 billion won (US$17.80 million) o...

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