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The Korea Herald

Retail & Consumer

August 14, 2019
Retailers join boycott of Japanese cosmetics brand DHC

Japanese cosmetics brand DHC found itself at the center of controversy in South Korea after its TV channel DHC Television featured offensive remarks on Koreans and history last week. A domestic boycott campaign against the Japanese beauty company was launched following revelations that DHC’s subs...
August 13, 2019
BAT launches liquid-type e-cigarette Glo Sens in Korea

British American Tobacco on Aug. 13 launched new liquid-type e-cigarette Glo Sens here as its first market, to boost its sales in South Korea, which is currently dominated by local tobacco giant KT&G and global firm Philip Morris. “BAT has been investing heavily in the research and development se...
August 07, 2019
Korean Air to issue corporate bonds worth $300m

Korean Air has decided to issue corporate bonds worth $300 million with payment guarantees provided by the state-run Korea Development Bank, according to industry sources Aug. 7. The firm plans to estimate the demand from Asian and European strategic investors at the end of this month. Credit Suis...
August 06, 2019
Lotte decides to inject W31b into Lotte Accelerator

South Korean retail-to-chemicals conglomerate Lotte Group and its affiliates have decided to inject 31 billion won ($25.59 million) into startup accelerator arm Lotte Accelerator. Of the amount, Lotte Group will provide 16 billion won, while three affiliates -- Hotel Lotte, Lotte Homeshopping and ...
August 05, 2019
US scooter-sharing startup Lime to enter S. Korea next month

California-based electric scooter-sharing startup Lime will launch its service in South Korea in September, according to industry sources on Aug. 5. Lime has already started recruiting employees for its unit in Korea. According to sources, the California-based startup will operate around 2,000 ele...
August 05, 2019
Korea ranks as No. 3 cosmetics exporter to China in Q1

South Korea was the third-largest exporter of cosmetics to China in the first quarter of this year, losing its top status to Japan, data showed on Aug. 5. Its shipments of cosmetics to the world’s second-largest economy came to $720 million in the January-March period, according to the data fr...
August 02, 2019
LG H&H shines in Q2, Amorepacific feels the pinch

The different business strategies chosen by South Korea’s top two cosmetics companies -- LG Household and Health Care and Amorepacific -- are being reflected in their bottom lines. LG Household and Health Care said its second-quarter sales rose 10.9 percent to 1.83 trillion won ($1.5 million), wh...
August 02, 2019
E-Land closes W300b deal with Chinese firm to sell K-Swiss

South Korean retail firm E-Land World said on Aug. 1 it has closed a deal with Xtep International Holdings to sell its subsidiary K-Swiss for 300 billion won ($260 million) in a move aimed at streamlining its assets. In May, when the Korean company signed the deal to sell its subsidiary to the Chi...
July 30, 2019
Cosmax secures W82.8b from SV Investment

Cosmetics equipment manufacturer Cosmax secured 82.8 billion won ($70 million) from Korean venture capital firm SV Investment, according to industry sources on July 30. In return, Cosmax handed over a 10 percent stake in its subsidiary Cosmax East. Established in March this year, Cosmax East manag...
July 28, 2019
Lotte Duty Free opens third store in Vietnam

Lotte Duty Free said on July 28 that its third duty-free store in Vietnam has opened at Hanoi’s Noi Bai International Airport, a year after its second outlet was launched in Nha Trang. Spanning over 506 square meters, the store inside the departure area in Hanoi Airport sells perfumes, cosmetics,...
July 25, 2019
Jollibee Foods, Viet Thai to acquire Coffee Bean & Tea Leaf

A consortium led by Mirae Asset Global Investments, South Korea’s largest asset management firm, has signed a contract with Southeast Asian companies Jollibee Foods and Viet Thai to sell California-based The Coffee Bean & Tea Leaf for $350 million, according to industry sources on July 25. Jollib...
July 24, 2019
Woongjin decides to offer staple financing to Coway buyer

Cash-strapped Woongjin, which recently decided to resell its stake in water purifier rental firm Woongjin Coway, announced on July 24 that it will offer staple financing to the buyer. Staple financing is a prearranged financing package offered to potential bidders for an acquisition. This is offer...
July 22, 2019
Blank focuses on expanding new businesses before IPO

Korean e-commerce rookie Blank is further expanding by injecting money into its new businesses before its initial public offering, according to industry sources on July 22. “We are planning to file for preliminary screening at the Korea Exchange during the second quarter next year,” a Blank spok...
July 22, 2019
Retail giants forecast to deliver disappointing Q2 earnings

South Korean retailers are likely to deliver disappointing earnings for the second quarter on stiff competition with online operators, with industry leader E-mart expected to post the first deficit in its history, industry data showed July 22. E-mart, the country’s largest hypermarket chain, o...
July 18, 2019
CJ Foodville secures W87.5b from Chinese PEF to expand Tous Les Jour

South Korea’s catering and foodservice firm CJ Foodville announced on July 18 that it has secured 87.5 billion won ($74.3 million) from Chinese private equity firm Hosen Capital to further expand its bakery business in China. The Korean company received the funds through establishing a joint vent...

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