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The Korea Herald

Retail & Consumer

August 22, 2018
Lotte Duty Free acquires 5 JR Duty Free outlets

[THE INVESTOR] Korean duty-free store operator Lotte Duty Free announced on Aug. 21 that it has signed an agreement to acquire five outlets of Australia-based JR Duty Free. “This agreement will help Lotte Duty Free to expand outside Asia,” Lotte Duty Free CEO Jang Sun-wook said in a statement. ...
August 21, 2018
Memebox signs partnership deal with Sephora

[THE INVESTOR] Korea’s beauty startup Memebox announced on Aug. 20 that it has signed a partnership deal with US-based multi-brand cosmetics store operator Sephora. LVMH-owned Sephora currently has over 2,300 online and offline outlets in 33 different countries, including Europe, US and China. ...
August 20, 2018
Hyundai Department Store, Amazon Web Service join hands

[THE INVESTOR] Hyundai Department Store Group said on Aug. 20 it has joined hands with Amazon Web Service to develop the “next-generation” retail model amid local retailers’ push to adopt the latest technology to their online and offline platforms. Under the strategic collaboration agreemen...
August 17, 2018
Sulbing’s plans to takeoff overseas face strong headwinds

[THE INVESTOR] Korean dessert cafe franchise Sulbing has some ambitious plans for this year. “We’re aiming to open 40 stores by the year-end,” the firm said in a statement on Aug. 8 as it announced its first outlet in Cambodia. “We are confident of attracting global customers with our know-ho...
August 14, 2018
Ourhome acquires airline meal provider HACOR

[THE INVESTOR] Ourhome, one of the top food catering firms in Korea, has acquired in-flight meal provider Hanil America Construction Reality by buying the entire stake for 98 billion won (US$86.70) from Hanjin Heavy Industries & Construction Holdings, according to industry sources on Aug. 14. The...
August 13, 2018
CJ Logistics seeks partner to acquire Schnellecke

[THE INVESTOR] CJ Logistics is seeking a financial investor to form a consortium for acquiring German-based logistics firm Schnellecke, according to industry sources on Aug. 13. CJ Logistics is reportedly discussing with some private equity firms about forming a consortium before sending its lett...
August 10, 2018
CJ mulls launch of meal kit biz early next year

[THE INVESTOR] CJ Group is considering starting a meal kit business early next year after it finishes developing a mobile app for the service, according to a local news report on Aug. 10. Meal kit businesses provide delivery of pre-portioned ingredients and recipes to help prepare restaurant-qual...
August 10, 2018
Shinsegae DF accelerates efforts to attract Chinese

[THE INVESTOR] Shinsegae DF, the duty-free arm of Korean retail giant Shinsegae, said on Aug. 10 it is ramping up marketing efforts to lure more Chinese tourists as the company moves to expand. Shinsegae DF said it has partnered with Ctrip to allow consumers to sign up for its membership servi...
August 09, 2018
Convenience stores’ earnings edge up in Q2

[THE INVESTOR] Korea’s leading convenience store operators delivered decent earnings in the second quarter of this year on the back of new products, including in-house items, their filings showed on Aug. 9. GS Retail, operator of GS25, said its net jumped 11.1 percent on-year to 45.8 billion ...
August 09, 2018
Lotte founder sells entire stake in Daelim Industrial worth W91b

[THE INVESTOR] Lotte Group Founder Shin Kyuk-ho has sold off his entire 3.44 percent stake in Daelim Industrial worth 91.3 billion won (US$101.94 million), according to industry sources on Aug. 9. The founder of the Korean retail giant has been holding Daelim lndustrial’s shares since 1980, thro...
August 09, 2018
Dongwon F&B to expand in SE Asia with Thai conglomerate CPF

[THE INVESTOR] Korean food company Dongwon F&B on Aug. 9 announced that it will cooperate with Thailand-based Charoen Pokphand Foods to expand its presence in the Southeast Asian market. According to the company, Dongwon F&B CEO Kim Jae-oak and CPF CEO Sukhawat Dansermsuk signed a memorandum of u...
August 08, 2018
CJ ENM mulls selling stake in Studio Dragon

[THE INVESTOR] Korean entertainment giant CJ ENM is considering selling its stake in Studio Dragon, according to industry sources on Aug. 8. “We are considering how we can utilize our stake in Studio dragon to enhance our competitiveness in the global market,” a CJ ENM spokesperson told The Inv...
August 08, 2018
SPC Group sacks chairman’s son for alleged marijuana use

[THE INVESTOR] SPC Group announced on Aug. 7 that it is sacking Vice President Hur Hee-soo, who is also Chairman Hur Young-in’s son, after he was arrested for allegedly smuggling and smoking liquid marijuana. Prosecutors are investigating the details, including whether he had an accomplice. “W...
August 08, 2018
Pizza Hut Korea introduces pizza-serving robot

[THE INVESTOR] Pizza Hut Korea said on Aug. 8 it has launched a test operation of a robot to serve food to customers as the company moves to strengthen its competitiveness with cutting-edge technologies. The robot, dubbed Dilly Plate, was unveiled at one of its stores in western Seoul on Monda...
August 07, 2018
Kurly secures W50b from Sequoia Capital, DST Global

[THE INVESTOR] Kurly, operator of popular grocery delivery service Market Kurly, will receive funds worth around 50 billion won (US$44.46 million) from a consortium led by Sequoia Capital and DST Global, according to industry sources on Aug. 6. According to sources, the Market Kurly operator has ...

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