As flagship brand Sulwhasoo suffers, Amorepacific shifts focus to strengthening luxury cosmetics and overseas sales

Football coach Park Hang-seo returned to South Korea over the Lunar New Year, the country’s biggest national holiday. Upon his arrival, he was greeted by a large crowd of Korean reporters at the airport, which attest to the popularity of Park and the Vietnamese national football team in Korea. The recent string of achievements of the Vietnamese football team at the international stage, such as the U-23 Asian Football Confederation, Asian Games, Suzuki Cup or the East Asian World Cup, and the Asi

Korean steelmaker Posco plans to invest 1.07 trillion won ($956 million) in building environment-friendly facilities by 2021, with the aim of cutting air pollutants by 35 percent by 2022, in line with the government’s efforts to cut emissions of carbon dioxide. “We will close six aging units out of a total of 21 generating units by 2021 and invest 350 billion won to build new facilities with the latest technologies. The construction of new plants will start in December after undergoing environme

 The South Korean government said Tuesday it will tighten regulations and standards for food manufacturing companies to ensure health safety. The Ministry of Food and Drug Safety said it planss to implement from July a one-strike-out policy involving its controversial application of hazard analysis and critical control points, or HACCP, when a certified company violates basic food safety principles.  (Yonhap)HACCP is a preventative management system that verifies and manages risks in the entire

Celltrion Inc., a South Korean biopharmaceutical firm, said Monday that its net profits shrank 34.3 percent in 2018, despite record-high sales, mainly due to increased costs.Net profits came to 253.6 billion won ($226.2 million) last year on a consolidated basis, compared with 403 billion won a year ago, the company said in a regulatory filing. Celltrion said its operating profits plunged 34.3 percent on-year to 338.7 billion won in 2018.The company said its sales, meanwhile, reached a reco

Shinsegae Group, the operator of South Korea's biggest discount store chain Emart, said Monday that it will integrate its online shopping mall operations into SSG.COM from next month to boost sales. The retail conglomerate will launch SSG.COM, an integrated company of two online shopping stores -- the Shinsegae mall and the Emart mall -- on March 1, Shinsegae Group said in a statement.  (Shinsegae Group)"The integration of online shopping operations is to effectively absorb a rapidly growing dem

Asiana Airline Inc. secured the right to fly additional routes on the highly sought after South Korea-Mongolia route, while Jeju Air Co. and Eastar Jet Co. were allocated flights to Singapore, the government said Monday.The Ministry of Land, Infrastructure and Transport said the decision was made by its airline traffic review committee, which distributed slots secured by Seoul in the past year to local carriers. (Asiana Airlines)The Mongolian route was contested by all carriers, with Asiana, the

BARCELONA, Spain -- The head of South Korea’s major mobile carrier said Monday that the country’s business sectors will be the first to see the benefits of the fifth-generation network when its commercial service kicks off this March.During his opening speech for Mobile World Congress 2019 in Barcelona, KT Chairman Hwang Chang-gyu said the long-anticipated 5G technology will be applied to an extensive range of business areas -- from high-tech smart factories to traffic networks for autonomous dr

The Federation of Korean Industries, once the nation’s largest business lobby group, is reportedly having a hard time finding its next chairman. The organization, representing the business community, is set to hold a general assembly Wednesday to pick its new leader, but according to industry sources there is no candidate for the post. The FKI has been led by GS Group Chairman Huh Chang-soo for the past eight years. An FKI chairman is typically appointed for a two-year term, but he or she can ch

With the announcement of the V50 ThinQ phone, one thing has been clear: LG Electronics is out, for now, of the unfolding competition for foldable phones. According to online communities, tech bloggers and influencers on Monday, the South Korean smartphone manufacturer’s unveiling of its latest flagship phones for 2019 at the Mobile World Congress in Barcelona, Spain, gave an impression that LG is “kind of lost” in its attempts to keep up with fast-changing trends in the mobile world. As Samsung

Experts on self-driving cars from the US, the UK, Germany and Japan gathered in Seoul on Monday to urge for swift establishment of global standards for advanced self-driving cars in order for related technologies to further advance, according to the government here Monday.Lee Seung-woo, chief of the Korean Agency for Technology and Standards (MOTIE)An international conference on standardization of self-driving cars, hosted by the Korean Agency for Technology and Standards, was attended by around

SK Telecom and Comcast Spectacor will create a joint esports venture to make a mark in the global market worth some 3 trillion won ($2.68 billion), the companies announced Sunday in Spain, a day ahead of the opening of the Mobile World Congress 2019.The new esports venture, T1 Entertainment & Sports will be based on SK Telecom’s “League of Legends” pro gaming team, SK Telecom T1, with the team to be rebranded as simply “T1.”  SK Telecom President and CEO Park Jung-Ho (left) clasps hands with the

BARCELONA, Spain -- South Korea’s LG Electronics unveiled Sunday its newly developed 5G-powered smartphone with dual screens -- something similar to Samsung’s recently unveiled foldable phone but with a different user interface. During the Mobile World Congress 2019 in Barcelona, Spain, the country’s tech giant introduced the V50 ThinQ 5G with dual screen functionality. The feature allows users to watch two different screens installed on a single handset. The technology allows users to e

‘ESG investing is a risk management tool, that helps reduce possible drawdowns’

Amid growing calls for sustainable and eco-friendly products, South Korean steel giant Posco has looked closely into ways of assessing the impact of steel manufacturing, maintenance and its end-of-life phase, the company said Sunday.From a general point of view, steel is far from eco-friendly. But when assessed in terms of life cycle, steel’s competitiveness and benefits to the environment are highlighted, the company said, citing a WorldSteel report. Life cycle of steel (Worldsteel)According to