Song Yong-dok, former head of Lotte Russe, was appointed on Friday the new CEO of Lotte Hotel and head of Busan Lotte Hotel. Lotte Russe is the local corporation of Lotte Hotel Moscow in Russia. Lotte Group announced on Sunday that Song was appointed for both posts in recognition of his achievements in getting Lotte Hotel Moscow in a stable position within a year and a half of opening.Song joined Lotte Hotel in 1979 and served at Lotte Hotel World and Lotte Hotel Jeju before taking charge of lau

Former Sports Minister Kim Jip, who successfully led the 1988 Seoul Olympics, died in Daegu on Saturday. He was 86.Born in Sangju, North Gyeongsang Province, in 1926, Kim was a medical doctor who later served as a board director and vice chairman of the Korean Olympic Committee in the early 1980s.  Kim was at the center of the country’s sports scene two decades ago as he led Korean delegates in two historic events ― the 1986 Seoul Asian Games and the 1988 Seoul Olympics. Right after the Olympics

Investment chief expects closer relations in energy, food and marine resort sectorsTrade volume between Korea and Australia has soared to more than $27 billion since the two countries established diplomatic relations five decades ago. Korea now is Australia’s third-largest trading partner.At the forefront of that relationship is Queensland Government Trade and Investment Office, which is responsible for attracting business between Korea and one of Australia’s most important trading states.Korea’

A top Canadian executive has expressed hope that more Korean companies will be attracted by British Columbia’s tax incentives.Under the tax benefit program, a company can receive a provincial corporate tax refund of 10 percent by registering an international business in the region. There are also programs where refunds will pay back on the net income of the international financial business.“Increasingly, companies are starting to pay attention to this benefit because as profit margins begin to t

Top 10 conglomerates take up 52.8% in listed firms’ output: reportKorea has seen an unprecedented concentration of wealth in the nation’s top 10 family-owned conglomerates since the global financial crisis in 2008, industry reports showed Monday.Their combined market capitalization and sales reached their highest-ever last year, according to separate reports by Chaebul.com, FnGuide and the Economic Reform Research Institute. The top 10 owner groups saw the market cap of their 90 listed affiliate

A business relationship that started two decades ago is moving to the next stage as Ironwood Clay Company hooked up with three major local firms to create all-natural skin care products.Company president Rodger Upton first hooked up with Ilyang Pharmaceutical in 1992, but due to poor marketing, the stars did not shine on both parties and Upton’s Nena skincare product exited the country only to be replaced by Nu Skin’s own clay masks.“We are the only certified organic skin care company in Canada,