Celebrity chef Baek Jong-won is on fire. The man is currently one of the nation’s most sought-after cuisiniers, hosting several TV cook shows and running a chain of successful diners. The best thing about him is that he actually knows what he is talking about. His recipes are easy to follow and they really work. 　However, while I agree that Baek is a hardworking man who deserved to become famous, I cannot help feeling that he also happened to be in the right place at the right time.Baek came ont

Viewpoints Aug. 12, 2015

The surprise reorganization of Google under newly formed parent Alphabet gives the tech giant the ability to focus on its core business, while offering startup-like flexibility to its other projects.The announcement Monday of the new corporate structure was generally welcomed in Silicon Valley and on Wall Street, where Google shares shot up some 3.6 percent in early trade on the news.The plan calls for Alphabet to be the corporate parent, with an operating unit for Google and its related search

World Business Aug. 12, 2015

Blueprint of the Lotte World Tower and its surrounding “Lotte Shopping Town” in Jamsil, Seoul. Lotte GroupSEOUL/TOKYO -- When it comes to real estate, Lotte knows what it is talking about.The company has been rocking the nation with a fierce family feud and a possibly illegal corporate structure, but in terms of property investment, it’s been at the top of its game.In Korea, Lotte Group’s headquarters are nestled in one of the most expensive neighborhoods in the country -- Sogong-dong in central

Industry Aug. 11, 2015

Lotte Group chairman Shin Dong-bin on Tuesday bowed to public pressure and announced a plan to reform the conglomerate’s complicated circular shareholding structure by this year to ensure transparency.Offering a public apology over his family’s feud over the succession of the 90 trillion-won business empire, chairman Shin also said he would push for the listing of Hotel Lotte, the controlling tower of 80 Lotte affiliates in Korea.The listing plan is seen by analysts as the chairman’s strategy to

Industry Aug. 11, 2015

Mercedes-Benz Korea is running a pop-up promotion space dubbed “The Mercedes me” in Busan through Aug. 30 to mingle with a wider range of drivers in the Southeast of the country. This is the second such shop opened by the German carmaker, following the success of the first one near the trendy Garosu-gil district in southern Seoul last year. The Mercedes me Busan store in Gwangalli, Busan (Mercedes-Benz Korea)“We dedicate this place to everyone who is willing to experience the Mercedes-Benz in a

Mobility Aug. 9, 2015

Political parties and the government are upping pressure to revamp conglomerates’ governance structures, as Lotte’s succession dispute is fanning public antipathy toward conglomerates.  Lotte World Tower in Jamsil, Seoul (Yonhap)Rep. Shin Hak-yong of the main opposition New Politics Alliance for Democracy and 12 fellow minor party members proposed a bill expanding domestic regulations on conglomerates to their overseas businesses.According to the bill, conglomerates would be prohibited from esta

Industry Aug. 9, 2015

S Food director Lee Seung-yeon poses at the JohnCook Deli Meat outlet in Apgujeong-dong, southern Seoul. Chung Hee-cho/The Korea HeraldWith more Koreans being exposed to new ways of consuming pork and beef -- from simply grilling to embracing Western cuisine by making sausage, ham and other meat products -- S-Food, the operator of charcuterie brand JohnCook Deli Meat, has taken the domestic market by storm.JohnCook Deli Meat’s 99,000 won ($85) German pork dish Schweine Haxen sold out in no time

Industry Aug. 6, 2015

Lotte Group is facing the biggest challenge in its 67 years of history as the government is gearing up to take issue with its alleged unfair business practices after its founding family’s feuds erupted last week.The Fair Trade Commission on Wednesday said that its commissioner Jeong Jae-chan has investigated into the governance structure of Lotte Group both at home and abroad, and that he will share the results with the ruling Saenuri Party on Thursday. “Because Lotte has a structure of having a

Industry Aug. 5, 2015

Lotte Group chairman Shin Dong-bin on Monday met with group founder and general chairman Shin Kyuk-ho at Lotte Hotel in Seoul, fueling speculation that the “rebellious second son” is determined to mend ties with the infuriated father and placate the growing public anger about the irregular family feud at a major conglomerate.“The meeting was on friendly terms, with a smile on the face and ice-breaking conversations about Dong-bin’s business trip,” a source said explaining the dramatic encounter

Industry Aug. 3, 2015

South Korea has become a hotbed for luxury watchmakers from around the world, thanks to more people choosing timepieces to express their fashion, identity and, moreover, their wealth. Global powerhouses such as Bulgari, Piaget, Chaumet, Chanel, Cartier and Rolex have been joined by lesser-known but more exotic competitors, such as Patek Phillippe, Breguet, Jaeger-LeCoultre, Vacheron Constantin, IWC, Chopard and many more, creating one of the most dynamic destination for luxury and watch-enthusia

Industry July 31, 2015