[THE INVESTOR] Internet giant Naver’s online payment solution Naver Pay has been outpacing its competitors, such as Kakao Pay and Samsung Pay, in the digital payment sector with its transaction volumes and number of subscribers growing at a faster pace.The Internet giant said that the number of cumulative transactions of Naver Pay has exceeded 180 million since the launch of the mobile payment solution a year ago while the total amount of payments stood at 2.5 trillion won ($2.2 billion). The co

[THE INVESTOR] Pernod Ricard Korea is conducting a voluntary redundancy program that could reshuffle its workforce by up to 15 percent, industry sources said on June 29. The company is offering voluntary redundancy program for all employees in mid-level management and higher positions, as it seeks to streamline itself in the face of deteriorating performance. Pernod Ricard Korea has been suffering from slipping market share for some years. The company’s share of the Korean whisky market dropped

[THE INVESTOR] E-Land Group’s plans for pre-IPO placement for its Chinese branch E-Land Fashion China Holdings has fallen apart over its plans to sell off the brand Teenie Weenie. E-Land has been working on pre-IPO placements for its Chinese arm hoping to raise about 1 trillion won (US$842 million). In the process, the company decided to sell Teenie Weenie, a brand under E-Land International Fashion Shanghai. Although the company hopes to raise about 2 trillion won from the sale of Teenie Weenie

Lotte Insurance chief executive Kim Hyun-soo.[THE INVESTOR] Lotte Insurance chief executive Kim Hyun-soo has been summoned for questioning in the prosecution’s probe into Lotte Group. He has been summoned as a witness. Kim served in accounting rolls in Lotte Department Store from 1987 to 2014. From 2007, he was in charge of the company’s finances.   In serving as the company’s finance chief, Kim is said to have managed personal funds of Lotte Group founder Shin Kyuk-ho, and current chairman Shin

[THE INVESTOR] A legal battle between SPC Group -- the operator of South Korea’s largest bakery chain -- and a former executive has ended in favor of the company.Former Paris Croissant chief executive Jung Tae-soo automatically lost the suit when he failed to appeal a lower court ruling that ruled in favor of SPC, industry sources said on June 23.  SPC is the parent company of Paris Croissant, a popular bakery and coffee shop chain. In December 2014, Jung, 61, sued SPC for unjustified dismissal.

[THE INVESTOR] Almost one out of five Lotte Group companies located overseas are based in suspected tax havens, a report showed on June 23. Lotte Group, headed by Shin Dong-bin, is currently under an expanding investigation on suspicion of widespread corruption. According to a research institute operated by Energy Economy News, 46 of Lotte Group’s 256 offshore companies are located in suspected tax havens. The institute’s analysis showed that Lotte Group has 26 companies in Hong Kong, nine in Si

[THE INVESTOR] Kolmar Korea announced on June 22 that it has signed an agreement to build its second plant in Wuxi, Jiangsu Province. The new plant will boost Kolmar Korea’s production capacity in China to 520 million cosmetics products per year. The company currently operates a plant in the Beijing area. According to the agreement, signed with the government of Wuxi New District, Kolmar Korea will invest US$30 million to build a new plant. The new plant will be designed to have an annual produc