Park Sam-koo (right), head of the Korea-China Friendship Association and Kumho Asiana Group chairman, hosts a luncheon to discuss ways to promote cultural and economic exchanges between the two countries on Thursday at the 63 Building in Seoul. In attendance were Li Xiaolin (center), president of the Chinese People’s Association for Friendship with Foreign Countries, and Chung Jong-wook (left), vice chairman of the Presidential Committee for Unification Preparation and former Korean ambassador t

[THE INVESTOR] Discount retailer E-mart is entering the soju market with the acquisition of Jeju Soju, the company said Thursday.The two companies signed a provisional contract, with final terms and conditions to be negotiated before the final agreement.Jeju Soju’s two lines of soju (Jeju Soju website)Reports estimate the deal to be worth around 30 billion won ($26 million), but Shinsegae Group, the parent company of E-mart, said that the deal price could not be confirmed until final negotiation

Incheon Aviation Tech Co. said Wednesday that it completed construction of the world’s largest engine test cell at its plane-engine maintenance center in Unbuk-dong, Incheon. The ETC will allow engineers to test engines weighing up to 75 tons. IAT is a joint venture between Korean Air and American engine manufacturer Pratt & Whitney providing maintenance, repair and overhaul for commercial jets. Hanjin Group chairman Cho Yang-ho (fourth from left), Incheon Free Economic Zone Authority commission

Transport authorities are currently investigating an accident on Monday involving an American cargo plane at Incheon International Airport.According to Incheon International Airport Corp. and the Transport Ministry, a UPS cargo plane failed to takeoff from the airport on Monday night after skidding off the runway, losing its front wheels. The cargo plane flying UPS flight 5X061, on the takeoff runway at Incheon International Airport (Incheon International Airport)Four crew members, including the

E-commerce platforms Auction and Gmarket, run by eBay Korea, will expand their online-to-offline shopping services with a new delivery network launching in August, the company said Tuesday.Since its mobile launch in March 2011, Auction has continued to offer new services in the O2O market.  Auction’s A.Tag service (eBay Korea)Last October, the e-commerce platform launched a new technology called A.Tag which allows shoppers to make additional purchases of a previously purchased product by touchin

Online open market 11st, which was the first e-commerce operator here to create an offline customer service center, has opened its second center in Daegu, operator SK Planet said Tuesday.Called “V Center,” the center serves customers who want to return items for exchanges or refunds. The first center opened in Guro-gu, Seoul, in April, and the second Daegu branch opened on Tuesday. 11st V Center (SK Planet)According to SK Planet, V Center seeks to expand 11st’s interactions with customers -- bey

South Korea ranked 28th out of 38 surveyed countries in the Organization for Economic Cooperation and Development’s 2016 Better Life Index. Korea scored above average in areas such as civic engagement, education and jobs, but fell below average in measures that are more subjective such as life satisfaction and work-life balance.This year’s ranking is the lowest since 2012 when Korea came in 24th in the index. The area in which Koreans showed the least satisfaction was community relations, in whi

Hanjin Group chairman Cho Yang-ho was reelected on Thursday to serve on a board and strategy committee of the International Air Transport Association, Hanjin’s subsidiary Korean Air said Friday.The association held its annual meeting in Dublin, Ireland on Thursday local time, and announced that Cho will continue to serve on the IATA board of governors and its strategy and policy committee for the next three years.  Hanjin chairman Cho Yang-ho (top row, fifth from left) poses with IATA’s board of

E-mart‘s instant meal brand Peacock is continuing to show notable growth in the home meal replacement category as the group expands the brand’s distribution network to encompass rival retailers.According to E-mart on Friday, sales of Peacock reached 66 billion won ($55.7 million) from January to May of this year, showing 37.5 percent on-year growth. Models pose with Peacock‘s Chinese cuisine products. (E-mart)If the brand retains this level of growth, it is estimated to reach 165 billion won in

The Federation of Korean Industries said Friday that the rising Korean biopharmaceutical industry will be unable to sustain growth without bringing in big pharma companies from abroad through tax breaks and customized infrastructure.Choo Kwang-ho, a senior official at FKI, said through a statement that it was important to attract foreign pharmaceutical companies now, when “global pharmaceutical companies are actively expanding into other countries.”  An SK Biotek factory (SK Corp.)He also said,

The government Thursday vowed to support Korean biopharma products in their efforts to expand overseas during a meeting with top executives of major firms.In the meeting held to hear from industry’s concerns on research and development in biopharma products, Minister of Food and Drug Safety Sohn Mun-gi said he would seek ways to strengthen exports and support the manufacturing of Korean bio products developed by researchers.  Minister of Food and Drug Safety Sohn Mun-gi (Yonhap)The meeting was a

Lucky Chouette offers virtual fittingsCasual fashion brand Lucky Chouette will be testing out a virtual fitting service called “Try Clothes Online” until the end of July.Try Clothes Online is a collaborative service provided by British IT start-up Metail and Kolon Benit. Consumers will be able to virtually try on 100 looks from Lucky Chouette’s spring-summer collection using an avatar customized to the user’s body measurements.The service will recommend optimal sizes for the items chosen by user

Just Juice Cleanse, a line of premium cold-pressed detox juices from Herald Corp. affiliate Organica, is now available at CU convenience stores nationwide, Organica said Thursday.The detox juices will be available at 9,800 CU convenience stores in three flavors exclusively made for the chain: Light Green, Strengthening Shine and Pretty Pine. Each flavor retains the health benefits and nutrients of its ingredients thanks to Organica‘s unique high-pressure processing method while appealing to popu

Sales of eco-friendly soaps are on the rise as consumers here continue to be wary of potentially harmful household supplies after the Oxy toxic humidifier disinfectant case, data showed Wednesday.According to data from online open market Auction, sales of natural and eco-friendly dishwashing soaps rose 74 percent in April and May compared to the previous year, reflecting growing demand from retailers and consumers over natural replacements for chemical soaps. A consumer browses natural cleaners

An association of local logistics companies has filed civil and criminal suits against e-commerce firm Coupang, claiming that its delivery system is illegal.According to the Korea Integrated Logistics Association, Coupang’s so-called “rocket delivery” system is in violation of the Trucking Transport Business Act because the delivery vehicles are not licensed as cargo transporters.Since Coupang is an intermediary seller rather than a retailer in its own right, it does not have ownership of the pr