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The Korea Herald

Retail & Consumer

November 04, 2019
Philip Morris launches ‘Smoke-Free City’ project in Korea

Philip Morris Korea announced Nov. 4 that it has launched a project to push forward its vision of a smoke-free future in Daegu City and Gyeongbuk region. The ‘Smoke-Free City’ project will last until the end of this year. “Smoke-free future is not just simply a motto of our company’s vision,”...
November 04, 2019
Online shopping up 22.3% in Sept..

The total value of goods purchased via online shopping in South Korea rose 22.3 percent in September from a year earlier, government data showed Nov. 4. The total value of online transactions reached 11.18 trillion won ($9.6 billion) in September, the highest level for any October since Statist...
October 31, 2019
Behind the demise of duty-free businesses

South Korea’s once-lucrative duty-free industry revealed poverty in the midst of plenty last week when Doosan said it was shutting down its duty-free stores, following in the footsteps of Hanwha Group. The combined sales of all duty-free shops reached 2.24 trillion won ($1.93 billion) in Septembe...
October 31, 2019
[Q&A] Philip Morris aims to lead HNB cigarette market, realize vision for smoke-free future

A top executive of tobacco giant Philip Morris International said the company plans to continue leading the heat-not-burn cigarette market and ultimately realize its vision for a smoke-free future. “We are trying to lead continuous innovation with more than 400 scientists and research and develop...
October 30, 2019
Retail sales up 2.7% in Sept.

Retail sales in South Korea edged up in September on-year on the back of sharp growth from online players, data showed Oct. 30. The combined sales of 26 major offline and online retailers reached 11.4 trillion won ($9.7 billion) last month, up 2.7 percent from a year earlier, according to the d...
October 24, 2019
Amorepacific likely to shut down Sulwhasoo store in France

Korean beauty giant Amorepacific is likely to shut down its luxury skincare brand Sulwhasoo outlet located at Galeries Lafayette department store in Paris due to low sales, according to sources on Oct. 24. “We are currently considering making some changes to Sulwhasoo’s portfolio in France. We h...
October 23, 2019
Philip Morris Korea launches iQOS 3 DUO

Philip Morris Korea on Oct. 23 announced the launch of its upgraded version of heat-not-burn product iQOS 3 DUO. “I am strongly confident that the new innovative features of iQOS 3 DUO will further solidify PMI’s vision for a smoke-free future in Korea by contributing to switching more adult smo...
October 16, 2019
E-Land joins hands with Toss operator Viva Republica

E-Land Group on Oct. 16 announced that it has decided to join hands with South Korean unicorn startup Viva Republica, the creator of mobile financial service platform Toss. E-Land World, the de facto holding company of the group, will participate in the fintech startup-led consortium to start an i...
October 15, 2019
Miniso Korea plans to operate 300 outlets under new ownership

The loss-making Korean unit of China-based household goods chain brand Miniso announced Oct. 14 that it plans to aggressively expand the number of its outlets to 300 by 2023 under its new owner, Business Insight. Business Insight has announced that its wholly owned subsidiary Retail Insight bought...
October 15, 2019
Beanpole eyes global expansion through brand renewal

Samsung C&T said Oct. 15 that it aims to accelerate the global expansion of its fashion brand Beanpole. Celebrating its 30th anniversary, Beanpole announced its renewal move to rebrand as a “heritage” brand that embraces South Korea‘s unique culture. “Beanpole will be reborn as a herita...
October 14, 2019
Starbucks Korea mulls new headquarters

Starbucks Korea is mulling a move of its headquarters, leaving the current offices at a Shinsegae Group building, industry sources said on Oct. 14. Starbucks Korea, which has more than 1,260 outlets in Korea, is reviewing a plan to move to State Tower Namsan, owned by Mirae Asset Global Investment...
October 08, 2019
SK Networks drops plan to acquire Coway

SK Networks has dropped its plan to acquire a majority stake in South Korea’s top water purifier rental company Coway, according to industry sources Oct. 8. The company has canceled its board meeting, which was set to discuss the acquisition of Coway. As SK Networks is the parent company of the ...
October 04, 2019
E-Land Park appoints new CEO

E-Land Park, the E-Land Group affiliate that runs hotels and resorts, announced Oct. 2 that it had appointed Yoon Sung-dae as CEO in a move to improve its financial stability. According to the company, 38-year-old Yoon joined E-Land in 2006 and most recently served as the company’s chief financia...
September 30, 2019
Shinsegae International to sell Vidi Vici at Singapore’s Changi Airport

Shinsegae International announced on Sept. 30 that it will start selling its cosmetics brand Vidi Vici at Singapore’s Changi Airport from Oct. 1. According to airline reviewing and rating website Skytrax, Changi Airport has been ranked No. 1 for six consecutive years and over 65.6million people u...
September 25, 2019
BGF Retail to expand to Vietnam

South Korea’s top convenience store operator BGF Retail on Sept. 25 announced that it will open its first CU outlet in Vietnam next year. “We will actively enter emerging markets with high-growth potential to become a global convenience store company while focusing on stable growth in Korea,” B...

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