Asian economies’ growth slowdown, inflation concerns remain Asian policy makers need to tackle rising inflationary pressures in their economies even as global growth weakens, the Asian Development Bank said. The region can use monetary and fiscal policies as well as exchange rates to ease price pressure, the Manila-based lender said in its Asia Economic Monitor report Thursday. Asian economies ...

Kim Kuen-ho, chief executive of the Korea Water Resources Corp., will retain the office for another year, the Ministry of Land, Transport and Maritime Affairs said Tuesday. The ministry said it received approval from President Lee Myung-bak for its request that Kim be reappointed for an additional year. His three-year term expired Wednesday. The decision reflects the ministry’s efforts to smoot...

Air France, the first European carrier to enter the Korean market almost three decades ago, weathered a fair amount of storms here, but it never once thought to cut its services. Instead, it bet even bigger and pledged to stay for the long-term. This unwavering sense of commitment became the driving force behind the company’s fast and steady growth in Korea and Asia, said Erik Varwijk, executiv...

Hanwha Group, one of the nation’s top conglomerates, will focus its resources on solar power and biosimilar business over the remainder of the year, the group said Wednesday. According to the plans, the conglomerate will direct much of its investment budget for the period into polysilicon production facilities, expanding solar cell and module production lines, biosimilars and other new business ...

Starbucks Korea is considering launching its instant coffee mixes here soon, the president said Wednesday marking the 12th anniversary of the Seattle-based company’s Korean business. “The instant coffee brand, which was launched last year in Japan following the U.S., Canada, and the U.K., would be introduced to Korean consumers,” Lee Suk-koo, the head of Starbucks Korea, said in a press conferen...

Amore Pacific, Korea’ top cosmetics maker, is now targeting the fast-growing Chinese market, devising a premium positioning strategy with its high-end herbal medicine cosmetics brand Sulwhasoo. After successfully entering the markets in Hong Kong in 2004 and the U.S. in 2010, the brand Sulwhasoo made its Chinese debut this year. Starting with its first branch at Parkson Department Store in Beij...

Premium brand Sulwhasoo realizes 66 years of research efforts Amore Pacific, Korea’s top beauty company, officially launched its high-end herbal medicine cosmetics brand Sulwhasoo in Beijing on June 22. With about 100 journalists and industry people in China and Hong Kong in attendance, CEO and president Suh Kyung-bae expressed strong confidence about the brand’s success in Asia as well as in C...

DEARBORN, Michigan (AP) ― Ford’s ambitious plans to grow in Asia took a toll on its second-quarter profit, with higher costs to design and sell cars offsetting rising sales. The company’s net income fell 8 percent to $2.4 billion for the April-June period. Ford blamed higher prices for steel and other commodities, but also said that after years of restructuring, the company is strong enough to s...