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Korean retail giant Lotte Group’s hypermarket brand announced on Feb. 26 that it has opened a new store in Vietnam at Cau Giay district in Hanoi. The 2,776 square meter sized Cau Giay Lotte Mart branch is located in the urban district, near seven local universities. The firm said its key strategy...
Shinsegae Group, the operator of Korea’s biggest discount store chain E-mart, said on Feb. 26 that it will integrate its online shopping mall operations into SSG.COM from next month to boost sales. The retail conglomerate will launch SSG.COM, an integrated company of two online shopping stores --...
At the outset, it looks like ordinary tteok. A bite into the Korean rice cake immediately brings a surprise, as where one might expect sweet red bean paste, you find a dizzyingly sweet filling of chocolate and almonds. It is just one of many variations that Good Rice Cake Corp., a fusion rice cake...
Hanjin Group’s move to accept some proposals of activist shareholders appears to be lifting market confidence. It has announced a series of measures to improve its business and management -- a move analysts predict will regain investor confidence in the troubled group. “Hanjin’s move appears t...
One of Korea’s oldest iconic footwear maker Hwaseung has filed for court receivership at Seoul Bankruptcy Court, according to industry sources on Feb. 7. The court on Feb. 1 ordered the automatic stay to halt debt collection efforts and other insolvency proceedings. Founded in 1953, Hwaseung ros...
[THE INVESTOR] Lotte Confectionery said on Feb. 1 that it has acquired Myanmar’s bakery firm L&M Mayson. The Lotte Group subsidiary has bought 80 percent stake in the company for 77 billion won (US$68.90 million) as it plans to expand in the country. Established in 1996, L&M Mayson has three fa...
[THE INVESTOR] Korean cosmetics startup Memebox announced on Jan. 25 that it has secured series D funding worth US$35 million from Johnson & Johnson Development Corp., venture capital unit of the multinational medical devices, pharma and consumer packaged goods firm. “We will actively utilize ou...
[THE INVESTOR] The Face Shop, a wholly owned cosmetics unit of LG Household & Health Care, has signed a deal to acquire a plant in China from Avon Products for 79.3 billion won (US$70.56 million), its parent firm said on Jan. 9. The company will produce its own cosmetics products for sale loca...
[THE INVESTOR] Korean massage chair maker Bodyfriend on Jan. 7 launched a new model HighKey, which mainly targets 8 to 19 year old kids who are around 120 to 170 centimeters tall. “We aim to sell 1 million units globally by setting Highkey as our main export item,” Bodyfriend CEO Park Sang-hyun...
[THE INVESTOR] Korean e-commerce company Coupang said on Jan. 4 that it had become an authorized online reseller of Apple products. Apple products such as the iPad Pro, new MacBook models and the Apple Watch Series 4, can be now found in Coupang’s Apple brand store where customers can use Coupan...
[THE INVESTOR] More than 60 percent of outlets operated by two leading fast food restaurants, McDonald’s and Lotteria, have electronic kiosks, industry officials said on Jan. 3. A total of 825 out of 1,350 Lotteria branches across the country, or 62 percent, currently operate automated kiosks...
[THE INVESTOR] Cash-strapped E-Land Group has redeemed all its loans from Anchor Equity Partners and Meritz Financial Group, according to industry sources on Jan. 2. Anchor Equity Partners had established a special purpose company in December 2017 and invested 200 billion won (US$224.14 million) ...
[THE INVESTOR] Korea will ban supermarkets and retailers nationwide from using disposable plastic bags from January, government officials said on Dec. 31. The ban will come into effect as part of a revised law on conserving resources and encouraging the reuse of recyclable waste. Subject t...
[THE INVESTOR] KT&G said on Dec. 28 that its cosmetics unit Cosmocos is seeking to tap the US market by opening more shops in New York. Cosmocos, formally Somang Cosmetics, was acquired by the Korean tobacco firm in 2011 to strengthen the beauty business via its multi-brand outlets Beauty Credit...
[THE INVESTOR] Korean food-to-entertainment conglomerate CJ Group Chairman Lee Jay-hyun urged CJ retailers to work aggressively to expand their business globally, reiterating the corporate vision of becoming the world’s No. 1 lifestyle and culture company. According to CJ, Lee presided over a me...
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