Lock&Lock aims to become global  No. 1 in airtight  containers by 2013This is the fourth installment of a series that spotlights Korean products enjoyed by people abroad. ― Ed. In June 2002 many foreigners, including college students, visited the country to watch the World Cup soccer

The local IT scene on Thursday paid tribute to Apple founder and visionary Steve Jobs following the news of his death. The mastermind behind iMac, iPhone and iPad died from cancer aged 56, the California-based firm announced Thursday. The stock prices of Samsung Electronics, whose relationship with

When it comes to representative Korean companies, many people think of large conglomerates such as Samsung Electronics and Hyundai Motor. It’s true that they have elevated Korea’s global status: Samsung Electronics is an IT leader vying with Apple, while Hyundai Motor is a front-runner in Korea, the

Local retailers have started belt-tightening measures amid heightened economic uncertainty and toughened government regulation, industry sources said Wednesday. Lotte Group allegedly implemented a belt-tightening policy since last week centered on its retail subsidies such as Lotte Department Store,

Cookware and small home appliance maker Tefal presented its brand new coating and base technology for frying pans in Seoul on Wednesday. From as early as mid-October, all Tefal frying pans will be replaced with the new line named “Tefal Intensium 3D Coating,” the company said. Even though new produc

The Korea Federation of Retail Organizations plans to hold a nationwide rally at the end of this month to call for protection measures related to the free trade pacts with the European Union and the United States. The group, which represents 1.25 million retailers, said some 30 retail business-relat

By Lee Ji-yoonHomeplus, the nation’s No. 2 supermarket chain, said Tuesday it has launched a team responsible for shared growth with its business partners. The team was organized in April to better support transactions of small and medium-sized suppliers and improve contract conditions, the company

Industry expects more business opportunities from green tiresDUSSELDORF, Germany ― Germany-based specialty chemicals company LANXESS celebrates the annual “rubber day” in September. To mark 102 years of synthetic rubber, the company held a business conference in this German city on Sept. 21.The even

Lotte Group chairman Shin Dong-bin recently emphasized efforts to turn the current economic crisis into an opportunity, urging executives to look for blue-chip companies for mergers and acquisitions. “This time of economic downturn could be an opportunity. We need to be more active in the M&A of hea

World-renowned designer calls work with Samsung inspiring and challengingFollowing is the sixth in a series of interviews with world’s top designers and scholars who will participate in the Herald Design Forum in Seoul from Oct. 5 to Oct. 6. ― Ed. An upcoming visit by visionary designer Chris B

Former BMW designer Chris Bangle shares ideas and hopes on future designChris Bangle, former chief of design at BMW, will make his second visit to Seoul early this month.Bangle, who resigned from the German carmaker in 2009, has recently become a design consultant for Samsung Electronics. With tangi

Local condiment maker Sempio Foods Co. said Friday it would unveil its soy sauce cotton candy on Sunday. In Japan, ice cream and candies that use soy sauce have already been enjoyed. But it is the first time in the world that cotton candy has been made of soy sauce, the company said. Based on the id

Major department stores on Friday expressed concerns about antitrust authorities’ inspections into their shared-growth efforts with smaller businesses that could start as early as on Oct. 4. Early last month, the Fair Trade Commission reached an agreement with 12 department stores, supermarket chain

BERLIN (AP) — German lawmakers on Thursday overwhelmingly approved expanding the powers of the eurozone bailout fund in a major step toward tackling the bloc's sprawling sovereign debt crisis.The measure had been largely expected to pass the lower house of parliament, but a lively debate ahead

Gmarket, the nation’s No. 1 online marketplace, said Thursday that it will offer incentives to users who offer better services for overseas customers. According to the company, online cash will be given to the sellers who best promote their products in English until the end of October. Depending on

The Fair Trade Commission said on Wednesday that it will start a large-scale crackdown on unfair business practices next month, especially on high commission fees at major retail companies. The nation’s antitrust regulator revealed the plan on the first anniversary of the government’s shared-growth

Employees of Yuhan-Kimberly work at a “smart office” installed in the company headquarters. (Yuhan-Kimberly)Yuhan-Kimberly, Korea’s leading hygiene-products maker, has recently announced its new corporate slogan “Smart Work,” which aims to maximize efficiency of workplaces so that employees can bett

A presidential panel on shared growth released Tuesday a list of 16 business items, to which entry of large companies will be restricted. The Commission on Shared Growth for Large and Small Companies has continued discussions on 45 items since May along with local conglomerates.According to the pane

Smartphone apps can be refunded within 30 days if users find any defect, antitrust authorities said Tuesday. The Fair Trade Commission said it recently ordered SK Telecom’s T-Store and LG Uplus’ OZ Store to correct their refund policy. The local app store operators had made full refunds only when th

The Fair Trade Commission said Monday that it has fined three dental equipment makers 127 million won ($106,000) for giving illegal rebates. It is the first time that the state-run antitrust regulator has found illegal marketing practices prevalent in the medical equipment market as well as in the p