LG Household & Healthcare, South Korea’s No. 2 cosmetics and household goods maker in terms of sales, reported a record-breaking quarterly performance for its third quarter Tuesday. The company said it recorded 1.7 trillion won ($1.49 billion) in sales and 277.5 billion won operating profit in the third quarter this year. By sector, its cosmetics business saw 23.5 percent increase in sales year-on-year and 30.6 percent increase in operating profit. The performance was mainly driven by luxury cos

Steelmaker says reviewing cash dividend raise, overseas M&A

China-based access to South Korean internet giant Naver’s online blogs and cafes has been cut off for a week now, raising speculation that China’s censorship of foreign websites has effectively extended to Korea’s top portal website.　Internet users in China have been unable to access Naver blogs (blog.naver.com) and cafes (cafe.naver.com) since Oct. 16. The block still appeared to be in place as of Tuesday. 　Users in China can still access Naver’s search engine and email services without issue.

South Korean branch of British spirits maker Diageo Korea said Tuesday that it has launched a brand campaign for its low-alcohol W Signature spirit drink to encourage consumers to better understand it.(Diageo Korea)Under theme of “How Old Are You,” the campaign aims to encourage consumers to find out the age and value of the spirit drink they choose, so they can learn the meaning and importance of the age of low-strength spirit drink.The company said it expects consumers to better determine the

Lotte Group announced plans Tuesday to invest 50 trillion won ($44 billion) over the next five years, a move intended to quickly normalize the group’s business after its Chairman Shin Dong-bin returned to the helm after eight months away, upon being released from jail earlier this month.The retail-to-chemicals giant said it plans to invest 12 trillion won in 2019, the largest investment amount for a single year. Lotte Group Chairman Shin Dong-bin enters Lotte Group headquarters in Lotte World To

60% of Korean companies doing business overseas willing to invest in the North

Online shopping malls are planning big sales for November, a month that used to be a slow season but is turning out record sales from discounts, industry officials said Tuesday.EBay Korea racked up sales in November last year through its "Big Smile Day" discounts. Although it did not disclose details, sales of home appliances are said to have increased 15 percent from the same month the previous year, clothing and fashion accessories 18 percent, beauty products 19 percent and food 14 percent. (Y

BMW Group Korea will pre-emptively recall nearly 66,000 BMW and MINI vehicles to repair faulty parts, the transport ministry said Tuesday. The German carmaker's recall plan will start Nov. 26, with a total of 65,763 vehicles encompassing 52 different models to be checked by mechanics, the Ministry of Land, Infrastructure and Transport said in a statement. (Yonhap)This comes in addition to a recall of about 106,000 vehicles with fire-prone exhaust gas recirculation coolers and pipes. "As the risk

The Korea Water Resources Corporation, or K-water, said it succeeded in its pilot project of smart water management customized for Vietnam that was carried out together with Korean companies and Vietnam’s National Center for Water Resources Planning and Investigation.They shared the performance of the pilot project during a meeting in Hanoi, Vietnam last week, according to K-water on Monday.A Korean company employee explains the equipment to monitor underground water to Vietnamese employees in H

The Korean Intellectual Property Office, jointly with the World Intellectual Property Organization, is holding a special certificate course in Seoul this week for intellectual property practitioners and learners, officials said Monday.The Advanced International Certificate Course kicks off Tuesday and runs throughout the week at the Korea Intellectual Property Service Center building in Yeoksam-dong. The event comes as part of KIPO’s sustainable efforts to promote the use of intellectual propert

Ulsan starts first pilot operation of hydrogen city buses, aims to have 300 more by 2030

KDB Chairman says bank not ‘unconditionally’ against R&D center spin-off

Low-cost carriers will continue to drive capacity growth in the Korean flight industry, which has expanded into the largest market in Northeast Asia, US aircraft manufacturer Boeing said Monday. According to Boeing, more than 70 percent of new Northeast Asian flight routes in the past three years were established by Korean LCCs. Randy Tinseth, vice president of marketing for Boeing commercial airplanes, speaks during a press conference held in Seoul, Monday. (Boeing)“LCCs are currently responsib

Predictable guidelines to be made for leniency amid growing concerns among companies

Models showcase Samsung Electronics’ new laptop “Flash” with a fast internet speed and a retro-style keyboard at an event held at Pier59 Studios in Seoul on Monday. (Samsung Electronics)Samsung Electronics is working on development of new form factors of laptops, including one with foldable display, as part of its efforts to innovate personal computer products in line with the changing market for mobile devices, a company official said during a showcase event for the latest laptop Flash on Monda