More individual brands have been turning to a direct-to-consumer strategy in South Korea, investing in their own online retail outlets and mobile applications to reduce dependence on giant middlemen, or e-commerce platforms. As the preference for online shopping continues to grow -- particularly amid the coronavirus-enforced self-isolation recently -- competition among online retailers has been intensifying to the point that the line separating different industries is slowly blurring.　 Indust

Consumer March 15, 2020

South Korean air carriers that have been hit hard by many flight cancellations over coronavirus face a double whammy with rising parking airport fees, according to industry sources Saturday. Airports charge companies for using their facilities as parking spaces. At Incheon International Airport, the parking fee is free for three hours upon arrival, with different amounts depending on the aircraft size, for every 30 minutes. According to flagship carrier Korean Air, it has been charged almost

Mobility March 14, 2020

The Shincheonji Church of Jesus -- epicenter of the coronavirus outbreak in Daegu City -- announced Saturday that it has replaced its ceremony to mark the 36th anniversary of foundation with an online worshipping service. A considerable number of its followers -- under fire from mainstream Christian churches as a cult -- were linked to the infection spread in Daegu as they had held assemblies and meetings. As of Saturday, 62 percent of the confirmed cases turn out to be related to Sh

Social Affairs March 14, 2020

Once a mecca for techies in South Korea in the 1970s, Sewoon Electronics Plaza, has now been transformed into a springboard for young entrepreneurs. Sewoon Sangga, located in Jongno-gu in central Seoul, was built as Korea’s first multi-use residential and commercial complex in 1968, and was home to the country’s very first electronics marketplace -- Sewoon Electronics Plaza. During its heyday, the venue attracted some of the best technicians in the country, hosting some of the

Travel March 13, 2020

As retail businesses are seeing a boost in their sales online amid the COVID-19 outbreak, high-end department stores and outlets have also hopped on the bandwagon, according to the industry on Wednesday. WeMakePrice, a South Korean e-commerce platform operator, said the combined sales of department stores and outlets it hosts spiked in the period from Feb. 1 to 28 by 316 percent from a year earlier. While department stores and premium outlets are widely seen to be more dependent on physical

Consumer March 11, 2020

Starbucks Korea said Monday it will temporarily close 39 stores among the 74 in Daegu and North Gyeongsang Province region, hit the hardest by the coronavirus outbreak. According to the coffee chain, 39 stores will be closed from Monday to March 22 to prevent the spread of COVID-19. Nine will extend the closures since-February. Only 35 drive-thru stores in the region will operate normally and the company will conduct disinfection regularly, it added. The company plans to introduce social di

Consumer March 9, 2020

Renault Samsung Motors said it started delivering its new premium sport utility vehicle unit XM3 on Monday, with 8,542 preorders -- which opened on Feb. 21. The company is of the view that its TCe 260, a high-performance1.3-liter gasoline turbo engine co-developed by Renault Group and Daimler Automotive Group, has captivated customers, taking up 84 percent of the preorders so far. The carmaker has introduced two versions for the new SUV line -- TCe 260, and a 1.6-liter gasoline engine, GTe.

Mobility March 9, 2020

Amid the prolonged outbreak of the COVID-19, South Korean businesses are extending telecommuting and flexible work hours for employees in various forms to prevent further spread. While the companies are putting such measures temporarily in support of the so-called “social distancing” campaign promoted by the government to keep people from gathering in large crowds, some companies are taking it as an opportunity to seriously consider plans to build virtual and smart work systems.

Industry March 8, 2020

For Hwangbo Kyung-sun, a 29 year-old office worker in Seoul, it has become a routine to take omega-3 supplements or krill oil pills along with bringing a face mask and hand sanitizer to protect herself against the fast-spreading COVID-19. “It is basically the most I can do to not get infected from the coronavirus,” Hwangbo told The Korea Herald. Like Hwangbo, more people in South Korea are buying health functional foods, also known as nutraceuticals, which are not pharmaceu

Industry March 5, 2020

Even as the new coronavirus outbreak is dampening consumer sentiment, imported car sales bucked the trend in South Korea rising 5.3 percent in February on-year, latest data showed Wednesday. According to Korea Automobile Importers and Distributors Association, the number of newly registered imported cars in the country recorded 16,725 units in February. For the first two months of this year, sales increased by 0.8 percent from the same period in 2019 -- from 34,083 units to 34,365 units.

Mobility March 4, 2020

South Korean liquor maker HiteJinro said Wednesday that it had once again chosen singer-actor IU as its model for prominent soju brand Chamisul. IU previously modeled for Chamisul for four years, from 2014 to 2018. “IU is popular and has considerable stature as a singer and actor, and her unique ‘clean’ image (presented as a TV personality), goes along well with the brand,” HiteJinro said. The brand’s IU ads differed from the industry norm when she was first c

Consumer March 4, 2020

McDonald’s Korea said Tuesday it donated 4,200 burger sets to firefighters in Daegu and North Gyeongsang Province, as the region struggles in handling COVID-19. According to the company, it delivered 4,200 coupons that can trade for 1955 Burger set menu to Daegu Fire Department and Gyeongbuk Fire Service Headquarters on Monday. With the number of patients increasing in the region that is hit hardest by the epidemic in South Korea, firefighters have been taking the role to transport the

Consumer March 3, 2020

LS Cable and System said Tuesday it has won a contract worth about $85 million for a subway cable project to connect Bahrain’s islands. The company said it clinched the deal on a turnkey basis, to supply the submarine cables needed to connect 25 kilometers between the Bahrain’s main island and its Hawar Islands in the southeast. The contract was finalized by Al Gihaz, a Saudi Arabian engineering, procurement and construction company. The company will take charge -- from product s

Industry March 3, 2020

South Korea’s cosmetics giant Amorepacific said Monday it will seek a new buyer for its office building in Nonhyun, southern Seoul, as the preferred bidder has backed out. According to the firm, Hanyang Construction -- which was chosen as the preferred bidder -- canceled the contract to buy Sungam Building for 160 billion won ($131.2 million). Amorepacific had said it decided to sell its building to secure liquidity and to improve solvency. The contracted price accounted for about 2 per

Industry March 2, 2020

With the COVID-19 virus spreading across the country, department stores and malls are temporarily shutting down branches that confirmed patients are found to have visited. On Friday, Shinsegae Department Store closed its Gangnam branch in Seoul, when one of the employees of its partner company was confirmed to be infected by the new coronavirus. According to the department store, the employee had been off duty for personal reasons since Monday, and then went into self-quarantine on Thursday

Consumer Feb. 28, 2020