Articles by Kim Da-sol
Kim Da-sol
ddd@heraldcorp.com-
HNB smokers still exposed to toxicants, but less, BAT claims
As tension with the government persists over the risks of heat not burn tobacco, British American Tobacco’s Korean subsidiary released clinical study findings that switching from conventional cigarettes to glo -- the company’s HNB device -- reduces exposure to harmful chemicals. (BAT Korea)While government test results have still not been released, scientists from BAT’s Reduced Risk Substantiation team found that toxicant levels in people who used glo were 90 to 95 percent less than smokers of n
Industry Feb. 26, 2018
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SK Innovation discovers crude oil in South China Sea
South Korean petroleum refining company SK Innovation has successfully discovered crude oil at a Chinese block in the South China Sea, the company said Thursday. SK Innovation’s discovery of crude oil in Block 17/03 in the South China Sea (SK Innovation)According to the company, it found a 34.8-meter-thick effective oil pool at Block 17/03 located at a depth of some 2,000 meters down the Pearl River Mouth Basin in December last year. This marks SK Innovation’s first discovery in the area since
Industry Feb. 22, 2018
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[Advertorial] LG Chem aims to become global top 5 chemical company
South Korea’s major chemical firm and battery maker LG Chem said it will continue to brace for the “fourth industrial revolution” and pioneer the market, focusing on business growth in its units of basic material, chemical, electronic information material, battery and life science businesses in South Korea and internationally. LG Chem researchers conduct battery test for electric vehicles. (LG Chem)LG Chem said it plans to invest 3.8 trillion won ($3.4 billion) in capital expenditure, a 52 perc
Industry Feb. 22, 2018
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E-mart Traders outnumbers Costco, aims W1.9tr in sales
Warehouse-style discount chain store E-mart Traders said Thursday that it aims to achieve sales of 1.9 trillion won ($1.7 billion) this year, in an effort to bolster its offline shopping base amid fierce competition on e-commerce market. E-mart Traders (E-mart)E-mart Traders, a retail arm of Shinsegae Group, plans to open one or two more outlets this year. Since its launch in 2010, it opened a total of 14 stores across the country, with new branches in Gunsan and Gimpo opening in December last y
Industry Feb. 22, 2018
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Lotte chief steps down as CEO from Japan-based holding firm
Lotte Chairman Shin Dong-bin’s voluntary offer to quit as chief executive officer at its Japan-based holding firm has been approved through a board meeting, the group said Wednesday. Lotte Chairman Shin Dong-bin (Yonhap)“Lotte Holdings decided in a board meeting to accept Shin’s suggestion to resign from the chief post with a heavy heart, considering his situation,” the company said in an official statement. Shin will maintain his post as vice chairman and board member.The finalization comes am
Industry Feb. 21, 2018
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IBK takes issue with KT&G CEO appointment
What had seemingly been a smooth process at South Korea’s leading cigarette maker KT&G to reinstate its chief has been met with unusual interference from the state-run Industrial Bank of Korea, which is making increasing moves to get involved in the firm’s management.The bank holds 6.9 percent stake in KT&G and receives estimated dividends of 35 billion won ($32.5 million) annually. KT&G CEO Baek Bok-in (KT&G)Citing its voting right as a stockholder, IBK said it would simply be exercising its vo
Industry Feb. 21, 2018
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Orion ranked 14th in global top 100 confectionery companies
Orion has been ranked as the 14th-biggest confectionery company in the world by sales by global confectionery industry magazine Candy Industry. Orion snacks (Orion)Orion placed highest among Korean confectionery companies, and has ranked above 15th for six consecutive years.The South Korean industry leader posted sales of 1.94 trillion won ($1.81 billion) last year, taking 14th place after General Meals of America.According to the company, newly launched snacks such as Kkobuk Chip led to a rise
Industry Feb. 20, 2018
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[Video] Athletes are lovin’ it: McDonald’s store becomes popular hangout at PyeongChang Olympics
When the 17 day-long 2018 PyeongChang Winter Olympics kicked off on Feb. 9, every detail regarding the athletes -- from what medals they are expected to win to what food they are eating -- has received worldwide attention.While Gangwon Province, the Olympic host region, has been crowded with a variety of global food restaurants, the US fast food chain has been at the center of attention, which again, carried on its tradition of serving athletes free meals at the Olympics.(Shot and Edited by Park
Industry Feb. 19, 2018
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[Feature] Amid baby bust, firms look overseas for survival
While South Korea has a highly active baby care market with a range of high-quality products, it also suffers from one of the world’s lowest birthrates.South Korea was ranked 219th among 224 countries, with an average woman’s total fertility rate at 1.26 in 2017, the lowest figure among OECD countries, according to CIA’s the World Factbook.The falling birthrate, one of the gravest challenges the government faces, has been visibly hurting baby care businesses here in recent years.After struggling
Industry Feb. 18, 2018
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Lotte chief’s jail term reignites succession battle
A Seoul court’s verdict that put Lotte Chairman Shin Dong-bin behind bars has put the retail giant in disarray, reigniting a succession battle between Shin and his older brother, Shin Dong-joo. The elder Shin demanded his younger brother, who heads Lotte’s operations in Korea and Japan, resign his post as the chairman of Lotte Holdings. The unlisted company holds 99 percent shares in Hotel Lotte, the de facto holding company of the retail giant’s South Korea operation.Dong-joo was the former chi
Industry Feb. 14, 2018
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Court’s judgment unexpected: Lotte Group
Following a Seoul Court’s guilty verdict and simultaneous sentencing of 2 1/2 years in jail to Lotte Chairman Shin Dong-bin for bribery on Tuesday, Lotte Group voiced concerns over its future business plans. Lotte Group Chairman Shin Dong-bin (Yonhap)In an official statement, Lotte Group said the outcome was “unexpected” and it was “regretful” about the jail term, and insisted that Shin was innocent.“As soon as we receive the written judgement, the group will discuss with its attorneys for furt
Industry Feb. 13, 2018
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Lotte Duty Free raises commission to attract more Chinese travelers
South Korea’s major duty-free operator Lotte Duty Free has increased the commission for Chinese shuttle traders when they bring in group travelers, in a move to more aggressively entice group travelers from China amid sluggish sales continued from last year’s THAAD row. Lotte Duty Free Worldtower (Lotte Duty Free)According to Lotte Duty Free, the company has raised the commissions doled out to “daigongs” -- individual merchants from China who purchase cosmetics to take them back -- from December
Industry Feb. 13, 2018
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[Feature] How local supermarket became Koreans' new favorite restaurant
With lines amongst industries blurring, an increasing number of supermarkets have transformed themselves into “grocerants” -- a term coined combining grocery and restaurants -- stocking shelves with ready-to-cook foods and offering in-store dining. “It’s beyond just a food stand where people cook for you. Including the quality and freshness of the food, it feels more like a full-service type of restaurant,” said a 31-year-old Hwang Young-ju, who said she enjoys the eateries after a round of groc
Industry Feb. 8, 2018
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[Feature] Local beer makers struggle amid imported beer boom
Cass has long been a household name in Korea -- even to those who do not imbibe. Korea’s No. 1 beer maker Oriental Brewery has been around for over 80 years, but it has only recently been making moves into overseas markets like China.Even for a well-established brand with sales of 1.5 trillion won ($1.4 billion) in 2016, the reason is clear and simple -- local beers aren’t selling so well in Korea. Korea’s beer market had long been dominated by two local power brands: Cass by OB and Hite by Hite
Industry Feb. 7, 2018
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Convenience stores venture into cosmetics territory
Until recently, the only cosmetic products customers could find at convenience stores were miniature skin care products -- typically packaged in travel kits. Major convenience store chains, however, are venturing into what is viewed as drugstore territory, with the launch of affordable and fashion-forward lines of makeup, looking to appeal to millennial consumers.In Korea, beauty products constitute a 300 billion won ($276 million) industry, which increased 20 percent on-year in 2016.And more co
Industry Feb. 6, 2018
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