Wellness company Amway Korea said Tuesday that it has named Kim Jang-hwan as its new chief executive, effective June 1.The 53-year-old former COO of Amway has been with the company since 1993. Since then, he has held positions in finance, human resources, merchandising, sales and marketing within the company.  Amway Korea’s new CEO Kim Jang-hwan (Amway Korea)According to the firm, Kim was instrumental in implementing the company’s future strategy Amway Next in Korea and bringing Amway’s distribu

Food group SPC said Monday that it is readying the launch of a new salad restaurant called Pig in the Garden, set to open April 3.The restaurant will be a fine casual salad restaurant mainly offering up fresh salad bowls and salad plates that combine fresh greens with grilled dishes.  Construction is underway at the first Pig in the Garden branch in Yeongdeungpo-gu, Seoul. (SPC)The menu will also include popular dishes such as caesar salad and cobb salads, as well as seasonal salads like ricotta

Korea’s largest air carrier forecast over 840 billion won ($747.7 million) in operational profits this year at a shareholder meeting Friday morning, the first session to be led by new President Cho Won-tae.“This year, we have decided that our management policy will be to create a sustainable business that can produce profits even in times of rapid environmental change,” Cho said at the meeting.Cho Won-tae, President of Korean Air (Korean Air)It was the first time that Cho Won-tae led a sharehold

Alpecin, a German shampoo brand that uses caffeine to reduce the effects of hair loss, has officially entered the Korean market.At a press conference Thursday, Alpecin Korea Business Development Manager Yoo Min-jung said that although Korea has a large market for hair loss products, there is low awareness about the positive effects of caffeine on hair growth.Citing a study conducted jointly with Nielsen Research, Yoo said that “although 85 percent of surveyed men answered that they were concerne

Incheon International Airport Corp. has signed an agreement with Korail and Gwangmyeong City to create a city airport terminal at Gwangmyeong Station, according to the company Wednesday.Under the agreement, Incheon Airport will provide investment and management support during the initial operation of the terminal, while Korail will be the operator of the terminal itself. The terminal is set to open in September. Incheon International Airport CEO Chung Il-young (center), Korail CEO Hong Soon-man

Duty-free operators and air carriers in Korea are seeking out ways to increases sales among tourists from countries other than China, as Beijing’s travel ban is expected to cut deep into revenues this year.Dependency on Chinese consumers has been high in Korea, as indicated by data for February that showed the impact of anticipation of the travel ban.According to the Korea Duty Free Shops Association, sales at duty-free outlets here hit a record high in February to reach $1.14 billion. The growt

Germany-based communication agency Serviceplan Group said Wednesday that it has launched a Korean office of its subsidiary group Plan.Net to handle Serviceplan’s digital businesses.Plan.Net, based in Europe, has been ranked as Germany’s top digital creative agency for three consecutive years by the German Digital Industry Association.  Hong Jun-hwa, CEO of Plan.Net Korea (Serviceplan Group)Its Korean office will be headed by CEO Hong Jun-hwa, who most recently led the Integrated Campaign Headqua

Soaring 555 meters into the sky in southern Seoul, Lotte World Tower is a behemoth of a building filled with everything from high-end offices to serviced residences and an observation deck.South Korea’s tallest building was unveiled to the press Tuesday morning ahead of its grand opening to the public on April 3.The location for the building was chosen in December 1987, and construction began on the 4 trillion-won structure in 2010.“Skyscrapers like the Lotte World Tower are often pursued by gov

Online open market Gmarket took the top slot among online shopping malls in an annual brand power index for the seventh year in a row, according to eBay Korea Monday.The Korea Brand Power Index is compiled each year by Korea Management Association Consulting, taking into account various aspects of brand power including trustworthiness and value. This is the K-BPI‘s 19th year. (eBay Korea)“Consumers seek out Gmarket because of our product and price competitiveness, which comes from strong partner

The founding family of Lotte Group stood trial Monday, denying their charges of embezzlement and corrupt management of their businesses. It marked the first time that the feuding members have appeared in court together.　The trial came five months after prosecutors first charged Chairman Shin Dong-bin and four other family members in October last year. Following Monday’s opening trial, the court plans to hold hearings three times a week regarding the charges of embezzlement and tax evasion.　Chair

Korea’s Agriculture Ministry and the Agro-Fisheries and Food Trade Corp. said Sunday that they will be representing Korea at the United Kingdom’s largest biannual food trade show.Korea will be participating in the International Food and Drink Event with 17 companies selling everything from fermented sauces to snacks and organic food under the slogan of “Tradition and Health, Innovation.”  Visitors line up at Korea’s booth at the IFE 2015 (aT)These companies hope to close $28 million worth of tra

Online retailers are expanding their reach to offline shoppers, setting up independent stores and entering department stores, with 13 such new stores slated to open at Lotte Department Store in the first half of 2017.“Online brands are continuously expanding into offline stores to raise their brand value and to receive real-time feedback from consumers,” Lotte Department Store said in a press release.Online fashion brands often start out as small enterprises that find their competitive power in

Casamia Uffia is known as the office furniture arm of the midsized furniture house Casamia, but the company’s President Lee Hyung-woo says he prefers to describe his company in a different way.“Office furniture is actually not the majority of our sales,” he told The Korea Herald at Casamia Uffia’s showroom in Seongnam, Gyeonggi Province. “We design various commercial spaces, whether they be libraries, hotels, or office buildings.”Lee Hyung-woo, president of Casamia Uffia (Park Hyun-koo/The Korea

The idea of minimalism is often perceived in a quantitative sense. However, in today’s consumer market minimalism is not about buying less but about buying better, and retail players are scrambling to present items and services that can encourage spending by appealing to consumers’ sense of value. Minimalist storage and decoration items available at Ikea (Ikea)“Today’s consumer does not care about the perception of others. Everything is focused on finding happiness for the self, for defining one

Korean air carriers are temporarily reducing flights to China, as the country’s unofficial ban on travel to Korea went into effect Wednesday.　The nation’s largest air carrier Korean Air said that it would be reducing flights on low-demand routes “under circumstances in which demand for China-bound flights will unavoidably fall.”　The ban, which lasts until April 23, will affect 79 flights on eight routes out of Korean Air’s 38 routes to China. The airline said that reservations for its China-boun

Furniture brand Casamia launches a new brand called Daily Casa focusing on interior design items and furniture at affordable prices, with two stores located at Homeplus outlets in Incheon and Suwon. The Daily Casa store in Incheon is pictured in the photo. (Casamia)

Premium whisky brand Imperial‘s low-strength whisky brand “35 by Imperial” was crowned “Best of Best” in the whisky category at the 2017 Korean Wine & Spirits Awards, according to parent company Pernod Ricard Korea.“Thirty-five by Imperial was awarded due to the efforts that have grasped the sensory characteristics, such as smoothness and harmony, which domestic consumers have recently preferred,” said Pernod Ricard Korea’s Director of Imperial Marketing Kim Kyung-yeon. 35 by Imperial (Pernod Ri

Korean companies with business interests in China anxiously awaited the World Consumer Rights Day set for Wednesday, as they anticipated heavy blows from the Chinese government in retaliation for Korea’s installment of a US anti-missile defense system.March 15, or World Consumer Rights Day, is an annual event in which particular companies are called out and exposed for bad practices. Previous corporations that have been featured on the “3.15 Gala” show aired on Chinese network CCTV for practices

Kumho Asiana Group said Monday that it would give up its buyback option for Kumho Tire if it is not allowed to form a consortium to pay for the deal.Kumho Tire, which was separated from the group in 2010 as part of a debt restructuring deal, is poised to have its controlling stake held by creditors sold to preferred bidder Qingdao Doublestar, a tire manufacturing company listed in China.“We cannot understand why Qingdao Doublestar is permitted to form a consortium of six companies while we are n

Kumho Asiana Group Chairman Park Sam-koo is drawing near to the long-awaited reclamation of Kumho Tire, as the company’s creditors are set to sign a stock purchase agreement with preferred bidder Qingdao Doublestar on Monday.The deal to acquire a controlling stake in Korea’s second-largest tire company is worth 955 billion won ($826.5 million). Although Doublestar has been named the preferred bidder, Park retains the right of first refusal.  Kumho Asiana Group Chairman Park Sam-koo (Kumho Asiana