In line with its expansion of social responsibility programs, Mercedes-Benz Korea said Monday it is saving a percentage of revenue from car sales from March to May with a goal of donating over 1 billion won ($811,000) to charitable causes. Mercedes-Benz Korea has been embarking on social activities to contribute to less privileged Koreans and to contribute to the country’s fight against the impact of the novel coronavirus, the automaker said. The local importer and distributor of the G

Mobility April 27, 2020

South Korea’s online shopping rate was listed as second highest in the world amid the COVID-19 pandemic, a research firm said Monday. According to dunnhumby, a global customer data science company , Korea ranked second after China in the survey studying online consumption patterns, conducted with 7,677 consumers in 19 countries affected by the COVID-19 pandemic. The 19 countries include five in Asia -- South Korea, China, Hong Kong, Malaysia and Thailand; 10 from Europe -- S

Consumer April 27, 2020

Two years into his term as chief of Korea’s largest steelmaker Posco, Chairman Choi Jung-woo continues to stress the company’s priority on safety, according to the firm on Sunday. This is highlighted in the business management as well as policy and systems developments, the company said, citing a three-year, 1.1 trillion-won ($894 million) investment plan to enhance safety control. “Just a little carelessness can lead to an accident. We should have caution every moment we wo

Industry April 26, 2020

SK Engineering and Construction said Sunday it aims to create a clean living environment for residents with its newly developed anti-viral air circulation system. The company said it developed the Clean Air Solution system last year, using ultraviolet LED modules for the first time in South Korea. It has applied the system to its SK View apartment complexes. Recently, the company also developed an upgraded version of the air circulation system and finished application for patent, the compan

Industry April 26, 2020

Department stores are jumping into “live commerce” by livestreaming services -- providing indirect shopping experiences -- to tackle weakened sales amid the COVID-19 outbreak, according to industry sources Friday. Hyundai Department Store said it will run a livestream fashion show dubbed “2020 Digital Live Fashion Show” at 7 p.m. on Saturday. It is the first time a department store will run a fashion show without audience. The online fashion show will be livestreamed

Consumer April 25, 2020

Hyundai Steel said Friday its operating loss stood at 29.7 billion won ($24 million) with a net loss of 115.4 billion won in the first quarter this year. According to the South Korean steel producer -- an affiliate of Hyundai Motor Group -- its combined sales came at 4.66 trillion won ($3.78 billion) in the first quarter, declining 8 percent compared to a year earlier. The results were largely affected by the COVID-19 outbreak, as it has exacerbated the ongoing slump in the steel industry.

Industry April 24, 2020

South Korea’s largest steel producer Posco said Friday its operating profit in the first quarter posted 705.3 billion won ($570.8 million), down 41 percent on-year. The company logged 14.5 trillion won in sales on a consolidated basis, decreasing by 1.4 trillion won on-year. Its net profit stood at 434.7 trillion won, down 44 percent on-year. The COVID-19 pandemic outbreak has added difficulty to the sluggish steel industry, affecting exports and operations of overseas factories. Accord

Industry April 24, 2020

Samsung C&T proposed Wednesday a construction plan in which all its affiliates participate to create a “landmark” apartment complex in Banpo, Seoul, as part of an all-out effort as it seeks to win the contract in the area designated for redevelopment. Reconstruction bids are currently being accepted for the new Banpo 15-apartment unit in Gangnam, and Samsung C&T, Daelim Industrial and Hoban Construction are competing. The result is due to be announced Thursday. Sansumg C

Industry April 22, 2020

Amorepacific Group, a leading cosmetics company here, announced a plan on Wednesday to use less plastic to safeguard health and the environment. Wednesday was Earth Day. The company’s “less plastic” campaign consists of three actions: to reduce the use of plastic packaging for its products, to recycle more of its plastic packaging and to increase the use of upcycled materials to produce its products. “We will continue to stand up front in creating a happier, more beau

Consumer April 22, 2020

Samyang Foods, an instant noodle manufacturer here, is expected to see the highest sales in the company’s history in the first quarter of this year, with sales of instant noodles showing notable growth amid the COVID-19 outbreak. According to the industry on Wednesday, Samyang Foods’ total sales in the first quarter is expected to see an increase of 30 percent from a year earlier, with its exports recording over 75 billion won ($60.8 million) in the first quarter. That figure is mo

Consumer April 22, 2020

Orion, a South Korean confectionery company, said Tuesday it recorded sales of 208.3 billion won ($168 million) in March, an increase of 41 percent on-year. The sales of snack products in its biggest markets, South Korea, China and Vietnam, also grew 82 percent on-year for the month, the company added. “Newly released snacks have gained popularity and our snack portfolio, which originally revolved around pie products, is becoming more diverse,” Orion said. In March, South Korea

Consumer April 21, 2020

Korean food company SPC Group said Tuesday that its affiliate SPC Samlip has acquired the exclusive contract for operations in Korea of Eggslut, a popular egg sandwich franchise in California, as well as the license for Singapore. The company said it will introduce the first Eggslut store in Korea at Coex Mall in Seoul in June. US brand Eggslut is famous for its egg sandwiches made with a warm brioche bun, scrambled eggs and sriracha mayo sauce. “We are pleased to show Korean guests t

Consumer April 21, 2020

Samsung C&T’s fashion unit said Monday its business casual brand for the handicapped, Heartist will roll out a new line of clothes in collaboration with its other brand Beanpole, to celebrate the first anniversary of Heartist. Heartist, which was launched in April 2019, is the first fashion brand for the handicapped, introduced by a conglomerate here. Under the concept of “Fashion for All Abilities,” the brand presents business casual products specially designed for thos

Consumer April 20, 2020

GS Engineering and Construction said Monday that it had won a 550 billion won ($451 million) contract to build railway lines in Singapore in cooperation with the Korea Railroad Research Institute. The company obtained the order from Singapore’s Land Transport Authority for its Integrated Train Testing Center project, a railway testing facility. It is a design-build contract, under which GS E&C will lead the whole project, the company said. GS E&C said it would build three track

Industry April 20, 2020

HiteJinro, a South Korean liquor maker, said Monday two of its premium soju products won Gold awards in the Monde Selection 2020 for the second consecutive year. According to the company, its Ilpoom Jinro 1924, a 100-percent distilled soju, and limited edition Ilpoom Jinro 19 years were chosen for the top Gold award. Monde Selection is an annual non-competitive award open to food, drinks, and cosmetics products since 1961. It is run by International Institute for Quality Selections based in

Consumer April 20, 2020