British American Tobacco Korea marked down the price of its Vogue Prima brand to 4,100 won ($3.60) from 4,300 won Monday.BAT Korea said the price cut will allow smokers a broader opportunity to enjoy the superslim Vogue “at a more reasonable price to adult smokers in Korea, in order to meet the increasing demand for superslim cigarettes in Korea.”According to a survey conducted by AC Nielsen 2015, superslims have become an influential player in the domestic cigarette market, accounting for more

The capital controls introduced by the Greek government do not apply to foreign visitors to Greece, the Greek Ministry for Economy, Infrastructure, Shipping and Tourism said Wednesday.Foreigner visitors are free to make financial transactions, such as ATM withdrawals and credit or debit card payments that are issued outside Greece, the Greek Embassy to Seoul said, citing the Greek Tourism Ministry. There are adequate fuel supplies, products and services throughout the Greek mainland the islands,

NongHyup Bank will shut down low-profit branches to enhance the margin rate, its holding company NongHyup Financial Group said Monday.The group said it will shut down, integrate or transfer around 30 branches with low profitability, as part of the annual “branch efficiency booster plan.” “We enforced the branch efficiency booster plan to 30-some branches last year, and we are expecting to do the same to a similar number this year as well,” a spokesperson of NongHyup Financial Group said. The num

Just five days remain until Korea’s two main stock exchanges double the daily stock price limits, a state-driven move to boost liquidity and reduce speculative investment.Starting June 15, the benchmark KOSPI and the tech-laden KOSDAQ will expand the price limits to 30 percent, double the current 15 percent. This is the first revision of its kind in 17 years since the authorities raised the figure from 12 percent to 15 percent in 1998.While the Korea Exchange, South Korea’s main bourse operator,

Exports in the agricultural sector fell significantly last month as the record-cheaper Japanese yen undermined the price competitiveness of the South Korean farmed goods, government data showed Tuesday. According to the South Korean Ministry of Agriculture, Food and Rural Affairs, the outbound shipments of fresh and processed food products in May was $480.4 million, down 8.1 percent from a year earlier. The January-May exports stood at 2.5 billion won, down 1.3 percent on-year, accounting for on

South Korea’s Agriculture Ministry will sign a cooperation pact with retail giant CJ to broaden the China-based distribution channel of Korean agricultural products, the ministry said Monday.Lee Ju-myeung, director general of the Food Industry Policy Bureau of the Ministry of Agriculture, Food and Rural Affairs, will sign a memorandum of understanding with CJ China chief Park Keun-tae on Tuesday in Beijing, over sorting out Korean food products with high sales potentials in China and marketing t

South Korea’s gasoline prices have been rising for 44 days amid rising oil prices and consumption, the state-run Korea National Oil Corp. said Wednesday. The nation’s average price of regular gasoline hit 1,572.40 won ($1.40) per liter on Tuesday, up 0.85 won from the previous day, according to Opinet, an online service provider of fuel prices run by KNOC. Market experts estimate that the price may reach a new record, replacing the Jan. 1 record, 1587.31 won.The average price of premium gasoline