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The Korea Herald

Retail & Consumer

August 30, 2018
Philip Morris puffs data to claim lower cancer risk of IQOS

[THE INVESTOR] Philip Morris Korea announced on Aug. 30 that smoking with its heat-not-burn device IQOS can reduce risks of having lung cancer, compared to smoking conventional cigarettes. “IQOS is not risk free. And the best choice is to quit (smoking),” Manuel Peitsch, Philip Morris Internati...
August 30, 2018
Retail sales up in July on rise in demand from online stores

[THE INVESTOR] Retail sales in Korea increased in July compared with a year earlier, led by robust demand by online stores that are attracting customers with fast delivery and easy transaction service, government data showed on Aug. 30. The combined sales of 26 major offline and online retaile...
August 30, 2018
Heat wave boosts department store sales in Korea

[THE INVESTOR] Sweltering heat in Korea has boosted the sales of local department stores this summer as people have flocked to air-conditioned malls to get relief, industry sources said on Aug. 30. According to retail sector data, revenues from restaurants inside Lotte Department Store jumped ...
August 30, 2018
Starbucks Korea to test paper straws next month

[THE INVESTOR] Starbucks Coffee Korea said on Aug. 30 it will test paper straws at its stores next month to replace plastic ones as part of its efforts to protect the environment. The coffee chain said the two-month test operation is set to begin Sept. 10 at 100 stores in Seoul and other major...
August 29, 2018
Prosecutors demand 14-year jail term for Lotte chief

[THE INVESTOR] Prosecutors on Aug. 29 demanded an appeals court sentence Lotte Group Chairman Shin Dong-bin to 14 years in prison on charges of bribery and other irregularities. They also demanded the court order him to pay a 100 billion-won (US$90 million) fine and forfeit 7 billion won. ...
August 29, 2018
IKEA Korea to officially launch e-commerce platform in Sept.

[THE INVESTOR] IKEA Korea on Aug. 29 announced that it will officially launch its e-commerce platform next month. “We will launch our e-commerce channel officially on Sept. 1 to increase the accessibility of our customers since we have only two stores in Korea,” IKEA Korea CEO Andre Schmidtgall...
August 29, 2018
Global PR Summit hopes to inspire participants in Seoul

[THE INVESTOR] Global PR Summit, which will be held on Nov. 23 at the Grand Hyatt Hotel in Seoul, aims to inspire participants with renowned speakers from Lego, Nielsen, Thomson Reuters, UK Civil Aviation Authority and Unilever Hair Care. The speakers will focus on the latest global PR trends suc...
August 28, 2018
Brokerages slash CJ CGV’s target price on weak outlook

[THE INVESTOR] Korean securities firms are rushing to cut the target price of the largest multiplex cinema chain CJ CGV amid concerns over slowing growth in both domestic and overseas markets. Some major brokerages including Mirae Asset Daewoo, KB Investment & Securities, Korea Investment & Secur...
August 28, 2018
Shinsegae, Affinity Equity Partners likely to launch e-commerce unit

[THE INVESTOR] Korea’s retail giant Shinsegae Group and Hong Kong-based private equity fund Affinity Equity Partners are close to establishing a new e-commerce unit by the year-end, according to industry sources on Aug. 28. Shinsegae had signed a memorandum of understanding in February with a co...
August 28, 2018
Lotte unveils ‘hand-pay’ robot for 7-Eleven

[THE INVESTOR] Korea Seven, operator of convenience store chain 7-Eleven in Korea, on Aug. 28 unveiled a robot that allows customers to pay with their hands as local retailers accelerate their move to take the lead in next-generation retail models using the latest technologies. The robot, dubb...
August 27, 2018
Hyundai Elevator-led consortium joins bid for Woongjin Foods

[THE INVESTOR] A consortium led Hyundai Elevator has submitted a preliminary bid to acquire Woongjin Foods from private equity firm Hahn & Co., according to The Bell on Aug. 27. Besides the consortium, Taiwan-based strategic investor and few other firms also participated in the bid to compete wit...
August 26, 2018
Chanel Korea comes under fire for sale of used bag

[THE INVESTOR] Local branch of the French luxury giant, Chanel Korea has come under fire for allegedly selling a used bag to a Korean customer, raising concerns over its inventory control and management policy. According to local media outlet News One, a Korean customer purchased a Chanel 2.55 fl...
August 24, 2018
BGF Retail opens 6 CU outlets in Mongolia

[THE INVESTOR] Korea’s top convenience store operator BGF Retail on Aug. 23 announced that it has opened six new CU outlets in Mangolia, including the first at Shangri-La Hotel in Ulaanbaatar. In April last year, the Korean company signed a master franchise contract with a local company Centra...
August 23, 2018
Coupang launches new service ‘Coupang Flex’

[THE INVESTOR] In an Uber Eats-like approach, Coupang has launched a new service called “Coupang Flex” to allow anyone over 18 years old to choose the date they want to work for Coupang delivery. The users can also choose how they want to work depending on whether they want to drive. Those who ...
August 22, 2018
Hotel Lotte resumes business in China

[THE INVESTOR] Hotel Lotte has resumed its long-delayed Chinese project in Yantai, Shandong province, which was suspended for four years. In 2014, Hotel Lotte first signed a hotel management agreement with a local operator, as per which it would be in charge of all operations and provide its bran...

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