South Korean builder Ssangyong Engineering & Construction has obtained an 850 billion-won ($750 million) contract to expand an expressway in Singapore, according to the firm on Thursday.The project involves building the N102 and N111 sections of road for the North-South Corridor project of Singapore’s Land Transport Authority. Ssangyong E&C won an exclusive 400 billion-won deal for the N111 section. It also won a 350 billion-won deal for the N102 section via a joint venture with Singaporean cons

Lotte Duty Free’s flagship store in Sogong-dong is expected to report 4 trillion won ($3.5 billion) in annual sales, the largest amount among other duty-free stores around the world.Korea Customs Service data requested by Rep. Choo Kyung-ho showed Sunday that Lotte Duty Free’s Sogong-dong store earned 3.9 trillion won in sales from January to November this year. Considering that average monthly sales were around 350 billion won, Lotte Duty Free said this year’s total sales would hit the 4 trilli

South Korean liquor maker Hite Jinro said Monday that it has launched its signature soju brand Chamisul in Russian liquor store chain Vin Lab, in a move to penetrate the local drink market there. Hite Jinro said Chamisul, which has an alcoholic content of 19 percent, will hit the shelves of some 400 Vin Lab stores across Russia, where not only local consumers but tourists visit to purchase a variety of liquor products. Since establishing the Russia office of its overseas corporation, Hite Jinro

Heat-not-burn e-cigarettes accounted for 11.3 percent of all cigarettes sold in November, ministry data showed Friday.According to the Ministry of Economy and Finance, 288 million packs of cigarettes were sold here in November, a 1 percent on-year increase. Some 35 million packs of those were cigarettes used for HNB e-cigarette devices. Since the launch of the first HNB e-cigarette Iqos from Philip Morris International in May last year, interest in such devices has grown, sparking a steep increa

CJ CheilJedang, a food manufacturing unit of CJ Group, celebrated its 30th anniversary since opening business in Indonesia, seeking to emerge as a world-leading bio firm. “Based on our business operation in Indonesia, CJ CheilJedang could develop as a global bio firm, thanks to hardworking employees at the Parusuan production line. The past 30 years will be a motivation for the next 30 years,” said CJ CheilJedang CEO Shin Hyun-jae, who participated in a ceremony in Parusuan, Indonesia, Thursday.

With Christmas just around the corner, the streets and buildings of South Korea’s capital are ready to embrace the holiday spirit with Christmas trees and twinkling lights.(Park Hyun-koo/The Korea Herald) (Park Hyun-koo/The Korea Herald) (Park Hyun-koo/The Korea Herald)The Seoul Metropolitan Government is holding the 2018 Seoul Christmas Festival until Jan. 1 at Cheonggyecheon, featuring different colored light-emitting decorations along the 1.2-kilometer walkway by the stream at night. Meanwhil

South Korean builder GS Engineering & Construction has won a construction deal in Yangon, the biggest city and former capital of Myanmar, the firm said Wednesday. The project involves building the Korea-Myanmar Friendship Bridge, which is financed by the Economic Development Cooperation Fund. The fund was set up to promote economic cooperation between South Korea and developing countries.According to GS E&C, it received a letter of acceptance from Myanmar’s Construction Ministry last week for th

Fresh food deliveries, a rise in the number of shoppers in their 60s and e-mobility were among the five keywords that summarize this year’s e-commerce shopping trends, e-commerce company Interpark said Wednesday. According to data compiled by Interpark based on online sales and opinions from its merchandisers, fresh food deliveries have become common services for online shoppers in the past year, mainly due to quick delivery services.Market Kurly, for instance, saw the rapid expansion of its bus

South Korean retail giant Lotte Group’s convenience store chain 7-Eleven is likely to be picked as a preferred bidder for the full acquisition of Ministop Korea, industry sources said Tuesday. According to industry insiders, Ministop Korea’s selloff manager, Nomura Securities, was to announce a preferred bidder later Tuesday. Along with Lotte, Shinsegae and Seoul-based Glenwood Private Equity submitted bid proposals last month. 7-Eleven suggested the highest bidding price of 430 billion won (380

Korean Air said Tuesday that it will strengthen penalties for ticket cancellations from Jan. 1, following a recent incident involving a group of K-pop fans canceling their flight tickets right before takeoff, which caused a costly delay. According to Korean Air, passengers who cancel their tickets after passing through the departure gate will receive an additional 200,000 won ($176) of penalties. The current penalty amount is 120,000 won for long-distance routes, such as those to the United Stat

South Korean food-to-entertainment conglomerate CJ Group Chairman Lee Jay-hyun urged CJ retailers to work aggressively to expand their business globally, reiterating the corporate vision of becoming the world’s No. 1 lifestyle and culture company. According to CJ, Lee presided over a meeting with the group’s CEOs on Friday in Los Angeles and asked them to seek a stronger presence in foreign markets with products encompassing CJ’s four business pillars: food, culture, bioindustry and logistics. T

South Korean cosmetics giant Amorepacific’s organic skin care brand Innisfree opened a new store in Melbourne, its third in Australia. The company’s third store in Australia makes its debut six months after the first, as local consumers show increasing interest in K-beauty and organic cosmetics, the company said. (Innisfree)The new Innisfree store is located on the first floor of the Chadstone Shopping Centre, Australia’s largest shopping mall. The company said the store’s decor reflects Innisfr

Passengers’ air miles earned on South Korea’s full-service air carriers and their partner airlines after July 1, 2008 are set to begin to expire on Jan. 1, sparking criticism that they should give more time and more options for customers to spend them. In the face of customers’ criticism, air carriers vowed to revise the current mileage system. But passengers are calling for more ways to spend air miles. The ministry forecasts that, of the total air miles set to expire when their expiry dates ru

South Korean retail giant Shinsegae’s discount store chain E-mart said Friday that it is acquiring US food retailer Good Food Holdings for $270 million, the company’s first acquisition of an overseas company. E-mart said the acquisition is aimed at stabilizing its business operation in the US and expanding its presence in the country. Good Food Holdings runs three fresh food and beverage brands: Bristol Farms, Lazy Acres and Metropolitan Market. It has 24 stores across the western region of the

The Korean unit of Proctor and Gamble, a household and personal care goods company, is pulling out from the domestic sanitary pad market, amid dwindling sales after the company was hit by a scandal involving potentially toxic pads. P&G Korea has decided to withdraw its sanitary pad brand Whisper, citing changing market trends, the characteristics of Korean consumers and its business portfolio.  (P&G Korea)However, the company said it would not be leaving the diaper market, adding that it would s