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Trend specialist Charlie Clark from global trend forecasting agency World’s Global Style Network gave a speech about “The Future of Beauty 2020” on April 15 during an event titled “Make Up in Seoul.” Clark projected in detail macro trends and five major ideas that will impact the beauty ind...
Sales at South Korean duty-free stores hit a new monthly high in March to breach the 2 trillion-won ($1.76 billion) mark for the first time, industry data showed on April 15. The combined sales of local duty-free shops reached 2.16 trillion won last month, marking the third consecutive month th...
Cash-strapped E-Land Group announced April 11 that it would spin off its food and dining unit from its subsidiary E-Land Park. E-Land Park has two different business units — hotels and dining. The South Korean company’s dining unit currently operates 16 restaurant brands, including buffet restau...
Amorepacific Group said on April 10 that its leading brand Laneige has entered the European market as South Korea’s leading cosmetics maker accelerates its overseas push. Products of Amorepacific’s midrange Laneige are now available at over 800 stores of French cosmetics chain Sephora in 18 c...
Kurly, a grocery delivery platform operator, on April 4 announced that it had closed its series D round having raised 100 billion won ($88.01 million). According to Kurly, existing investors including Sequoia Capital provided additional funding in this round. “Market Kurly is clearly showing its...
Retail giant Lotte’s startup accelerator arm Lotte Accelerator announced on March 29 that it has invested 1.5 billion won ($ 1.31 milliom) in shared kitchen service startup Simple Project. “We see that an increasing number of people will use food delivery services, instead of going to a restaura...
Global trend forecasting agency World’s Global Style Network announced plans to launch its new beauty forecasting platform on April 10. The company decided to launch a separate platform, instead of discussing beauty trends and forecasts in the fashion section of WGSN Insight, in response to inc...
Global trend forecasting agency World’s Global Style Network on March 26 held the “2019 Rising Consumer Trend” seminar in Samseong, an affluent neighborhood in Gangnam, Seoul. During the seminar, Jemma Shin, associate editor of consumer insight at WGSN, presented on new trends, particularly a...
Lotte Duty Free said on March 25 that it has opened stores in Australia and New Zealand, making it the first South Korean duty-free operator to make inroads into the Oceanian region. A ceremony to mark the opening of the tax-exempted retail outlet at Brisbane International Airport was held on M...
South Korean cosmetic giant Amorepacific hosted its yearly marathon in Busan on March 24, seeking to raise public awareness on breast cancer. With some 5,000 participants, the event consisted of a three-kilometer course and a 10-kilometer course, as well as breast cancer tests, clinical consulting...
E-Land Retail, subsidiary of South Korean retail conglomerate E-Land Group, said on March 21 it has decided to delay its plan to go public this year and repurchased its own shares to return investments. “Due to the greater volatility of the stock market recently, we‘ve decided to delay the li...
South Korean e-commerce company WeMakePrice will start operating a food delivery platform from April, according to sources on March 22. The company aims to take around 5 percent sales as commission, which is lower than the 7 percent charged by top operator Woowa Brothers. Advertising fees will be ...
Shares of YG Entertainment , the former management company of Seungri who is at the center of a sex bribery and corruption scandal, took a toll on March 21 one day after the National Tax Service raided it over alleged tax evasion. On March 20 after the stock market closed, the tax agency dis...
Hotel Shilla CEO Lee Boo-jin has been embroiled in a scandal involving the illegal use of propofol, a highly addictive anesthetic drug which could be lethal when overdosed. The latest scandal involving the eldest daughter of bedridden Samsung Group Chairman Lee Kun-hee is likely to become a g...
Two local small and medium-sized duty-free operators have been chosen to operate the country’s first arrival duty-free shops at Incheon International Airport, west of Seoul. Incheon International Airport Corp., the airport’s operator, said on March 20 that the two firms -- Entas Duty Free and...
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