South Korean parts manufacturer LG Innotek has mass-produced compact refrigerators with thermoelectric modules, the firm said Monday. According to LG Innotek, the recently launched table-sized refrigerator LG Objet has been incorporated with thermoelectric modules. These modules are combined with the components of thermoelements, radiator panels and radiating fans, to replace the cooling compressor system.LG Innotek's thermoelectric modules (LG Innotek)By using thermoelectric semiconductor techn

South Korean retailer E-mart said Monday that its No Brand private-label products will enter the Philippines market via the brand’s first overseas store set to open in 2020. According to E-mart, the company signed a franchise contract for exports with the Philippines’ leading retailer Robinsons Retail on Friday. Under the deal, the company aims to open 25 No Brand stores and 25 Scentence beauty stores at major shopping malls and department stores in the Philippines by 2020. A No Brand store in G

For Kim Yo-han, a 32-year-old office worker in Seoul, November has always been the month to shop for products with big discounts offered on e-commerce websites. From high-tech gadgets to designer clothes from luxury brands, Korean e-commerce companies run up to 80 percent discount promotions this month, mimicking Black Friday in US and Singles Day in China. Limited price flash deals usually lead to a huge increase in sales and traffic, creating buzz among online shoppers. Korean e-commerce giant

South Korean health care group Bodyfriend’s Lamborghini-themed massage chair won an innovation award at the International Consumer Electronics Show 2019, the firm said Thursday. It is the first time a massage chair has won an award in the home appliances category at CES.  Bodyfriend’s Lamborghini-themed massage chair LBF-750 (Bodyfriend)The company said its premium massage chair won high points in terms of technical skills, design, consumer values, competitiveness and uniqueness. Bodyfriend laun

South Korean retail giant Lotte’s duty-free operator Lotte Duty Free posted a rapid hike in overseas sales in its quarterly performance report, the firm said Thursday.  Lotte Duty Free store in Vietnam (Lotte Duty Free)According to the company, sales for the third quarter this year hit a record-high 4.1 trillion won ($3.6 billion), a 25 percent on-year increase. The sales from its downtown city stores and its overseas stores amounted to 3.8 trillion won and 164 billion won, respectively. Lotte D

In a country where savvy shoppers order anything from fresh food to a pair of shoes at a touch via mobile applications, low prices or fast delivery are no longer triggers to purchase. Growing consumer needs are now shifting toward people purchasing products they cannot afford to miss, such as via flash deals or limited sales.Ticket Monster, or TMON, a first-generation e-commerce company established in 2010, is one of those leading the e-commerce scene in Korea.TMON’s Monster Deal, which sells a

South Korean company Fidelis F&B has acquired the domestic sales rights for the renowned Chinese liquor Wuliangye, the company said Tuesday. According to Fidelis F&B, the company held a contract-signing ceremony with Wuliangye manufacturer Yibin Wuliangye Group on Nov. 1.  Fidelis F&B CEO Kim Seong-jun (left) and Yibin Wuliangye Group CEO Wang Ping pose for a photo after a contract-signing ceremony Nov. 1 at Yibin Wuliangye Group headquarters. (Fidelis F&B)Wuliangye is a type of Chinese baiju an

The Transport Ministry said Monday that four new budget air carriers have applied for business licenses, amid the government’s plans to add new low-cost carriers by the first quarter of next year. The applications will be reviewed based on the reinforced entry criteria for LCCs.According to the Ministry of Land, Infrastructure and Transport, budget air carriers including Fly Gangwon, Aero K, Air Premia and Air Philip have submitted applications. Another air carrier Guardians is set to apply with

Inside a busy discount chain store in Jayang-dong, northeastern Seoul, puppies slightly over 1 year old are put together in plastic boxes with a bottle of water. Most of the breeds sold at E-mart’s Molly’s Pet Shop are Maltese, Miniature Pinscher, Shih Tzu and Yorkshire Terrier, popular for their cuteness and appearance. The pet shop, named after Shinsegae Group Vice Chairman Chung Yong-jin’s dog Molly, is one of the outlets that provide premium pet care and sell pet products. But puppies are di

Shinsegae DF, the duty-free arm of the South Korean retail giant Shinsegae Group, reported 3.2 billion won ($2.8 million) in operating losses for its quarterly performance, despite 114 percent increase in sales.According to the firm, it earned 579 billion won in sales in the third quarter this year, marking a 114 percent jump on-year. Its operating losses came to 3.2 billion won, a dramatic fall from a 10 billion won operating profit in the last year.  Shinsegae duty-free store (Shinsegae DF)Shi

The South Korean branch of British liquor firm Diageo will expand and popularize its beer lineup as part of alternative plans to slowing growth of whiskey market here, its head said Tuesday.Diageo Korea CEO Lee Kyung-woo told reporters that the company would strengthen its imported beer lineup next year, particularly its stout beer brand Guinness, stressing the fast-growing beer market here.  Diageo Korea CEO Lee Kyung-woo speaks during a media night event Tuesday. (Diageo Korea)“Imported beer i

South Korean full-service carrier Asiana Airlines saw its operating profit drop more than 14 percent despite record-high sales of 1.8 trillion won ($1.6 billion) in the third quarter of this year.　The company said it recorded 101 billion won in operating profit, a 14 percent decrease from a year ago, and 47.8 billion won in net profit in the third quarter. Asiana Airlines (Asiana Airlines)The company’s low-cost carrier Air Seoul recorded 59 billion won in sales and 36 billion won in operating pr

Celebrating its 60th anniversary, Gimpo Airport on Tuesday unveiled plans aimed at becoming the world’s best city airport.The airport’s operator Korea Airport Corp. said it will open more facilities to increase accessibility, nurture young talent in the flight industry at its Aviation Training Center, and create more jobs by opening the National Aviation Museum of Korea in Gimpo Airport by 2020.Kim Myung-woon (center), Korea Airport Corp.’s acting CEO, poses with Gimpo Airport officials, passeng

E-mart, a South Korean discount chain operator under retail giant Shinsegae, joined hands with LG Electronics on Monday on the development and commercialization of retail service robots, including a smart shopping cart that will tag along behind the user.E-mart and LG Electronics held a signing ceremony for a memorandum of understanding and vowed to develop technology for a smart shopping cart that follows customers and does not require pushing.  　LG Electronics CTO division conversion center Ch

Following the revision of the licensing system for low-cost carriers, the government said it will complete a review of license applications for new LCCs by the first quarter next year.According to the Ministry of Land, Infrastructure and Transport, budget air carriers including Fly Gangwon, Air Premia and Aero K have submitted applications for business licenses. Other companies, including Air Daegu and Jeju Oreum Air, are expected to hand in applications this week.  Air Premia (Air Premia)Under

South Korean supermarket chain Homeplus on Thursday unveiled a new corporate identity, the first since its establishment in 1997.  Models hold a new corporate identity of Homeplus at Homeplus store on Thursday. (Homeplus)The retailer’s signature color of red was kept, while the image of a “plus” was highlighted to represent the company’s future businesses. The plus symbol is created with two ovals overlapping each other, signifying higher shopping benefits and wider choices, the company explaine

South Korean retail conglomerate Shinsegae Group finalized an investment contract worth 1 trillion won ($880 million) with a foreign investment firm and a private equity firm on Wednesday for an e-commerce spinoff. According to Shinsegae Group, it signed the contract with Affinity Equity Partners and BRV Capital Management, a consumer-focused investment firm, following its signing of a memorandum of understanding with the two companies in January. Shinsegae Group Vice Chairman Chung Yong-jin (ce

INCHEON -- Some 1,000 global aviation experts and airport industry insiders from 70 countries gathered at Incheon International Airport Corp.’s third annual World Aviation Industry Conference on Wednesday, an event aimed at exchanging insights on the future growth potential of global aviation and airports. The three-day event officially kicked off with IIAC CEO Chung Il-young’s opening remarks, in which he stressed the airport’s role in creating synergy with aviation service.Participants includi

South Korea’s leading liquor maker Hite Jinro said it aims to become a global liquor company by 2024, the year the company celebrates its 100th anniversary.  Hite Jinro’s low-alcohol fruit-flavored soju Jinro Plum is advertised during a Korean Parade held at an annual K-town Festival in Manhattan, New York, on Oct 6. (Hite Jinro)According to Hite Jinro, the company has integrated its operating system at overseas branches in the US, Japan and China so they can better perform localization and mark

South Korean builder GS Engineering and Construction reported a record-breaking quarterly performance in the third quarter, according to the firm. The company said it had recorded 9.7 trillion won ($8.4 billion) in sales, 843 billion won in operating profit and 657 billion won in pretax profit between July and September.Those figures are the highest in the history of the company, according to GS E&C.The company said its sales had increased 16.3 percent year-on-year, while its operating profit ha