Fashion company Handsome said Wednesday that it has inked the final deal to acquire the fashion division of SK Networks on Tuesday, allowing it to begin operating the twelve brands previously held by the SK company.Handsome, which is owned by the Hyundai Department Store Group, acquired SK Networks’ fashion division for 300 billion won ($265.5 million). Promotional image for O'2nd (Handsome)As part of the acquisition process, Handsome also renewed import contracts with foreign brands that were d

Lufthansa Group Airlines said Tuesday it had appointed Andrew Kim as its new general manager for its Korean branch, effective Wednesday.Korean-American Andrew Kim joined Lufthansa German Airlines in 2005 and has held various leading positions in sales, corporate accounts and commercial and passenger business. Andrew Kim (Lufthansa)Kim has served postings in Korea, Singapore, Indonesia and Malaysia. He most recently served as the General Manager in Indonesia and Malaysia.“Based on his in-depth un

Lotte Group‘s decision to provide land for the installment of an anti-missile Terminal High-Altitude Area Defense battery here is stoking fears about the possibility of economic retaliation from China.On Monday, Lotte Group decided to swap its golf course in Seongju, North Gyeongsang Province, for a military property in Namyangju, Gyeonggi Province, to allow the installment of the THAAD battery in the southern region.Although the swap was initially worked out last November, it had faced continue

Korean Air’s new President Cho Won-tae on Monday said the airline will aim to boost sales with its cutting-edge aircraft and ensure passenger safety by making changes to the carrier’s safety policies.At an event at Korean Air’s Incheon Airport hangar to unveil the new Boeing 787-9 Dreamliner that will begin servicing flights in mid-March, Cho spoke to reporters on board the plane in his first public press appearance since being named president.Cho, who is the son of Korean Air Chief Executive Of

A new regional airline hoping to specialize in bringing tourists to the Gangwon Province area was denied an operating license by the Ministry of Land, Infrastructure and Transport, according to the airline Friday.In a statement, Fly Yangyang said the Transport Ministry decided not to issue an operating license due to “the risk of financial instability in the early stages of operation as well as insufficient safeguards for safety and consumer convenience.”If the license had been granted, Fly Yang

McDonald’s Korea said Friday it has been awarded a top corporate social responsibility prize for contributions to the regional community.The Happy+ Social Contribution Awards are organized jointly by the Korea Employers Federation and Association of Korean Journalists. This is McDonald’s third year receiving the award for its work sponsoring the Korea Ronald McDonald House Charities, an organization that provides housing near hospitals for families of children who need long-term hospital care. 　

Public relations and management consulting agency Emerson K Partners said Thursday that it had created a new branch in Thailand.The Thai branch of the agency will be headed by Thanapat Ujjin, an expert in Thai sports and entertainment.  (From left): Waraporn Puangthai, Emerson K Partners Thailand VP, Park Ki-hwan, Emerson K Partners CEO, Thanapat Ujjin, Emerson K Partners Thailand CEO (Emerson K Partners)“We hope that Emerson K Partners will grow to become the most competitive and trusted PR con

Air carrier Asiana Airlines said Thursday it has installed an Airbus 350-900 flight simulator for its flight crew training. The simulator is a replica of the cockpit of the actual Airbus aircraft. It is designed to provide hands-on training for situations such as aircraft upsets and in-flight fires, according to the airline. It cost 20 billion won ($17.6 million). (Asiana Airlines)It is the latest addition to Asiana’s existing set of five simulators, which simulate models such as the Boeing 777

Lotte Group completed group restructuring and naming new executives Thursday, to refresh corporate management under chairman Shin Dong-bin.After a tumultuous year filled with owner family feuding and allegations of shady transactions, Shin Dong-bin affirmed himself as the official leader of the company, pushing out his older brother Dong-joo and his father Shin Kyuk-ho from frontline management. In October, Lotte Group hired McKinsey & Company for management consulting services to restructure th

Global premium spirits maker Diageo said Wednesday it will be providing consumers with alcohol content and nutritional information per serving on bottles of its W Signature by Windsor products.The information will follow the guidelines set out by the Diageo Consumer Information Standard, an “internal standard that has been in place within the company since the early 2000s, and is being put on labels for the first time in Korea,” according to a company spokesman. Nutritional information for W Sig

Korea’s largest air carrier sent a request to the Transport Ministry on Tuesday to postpone the start of its Iran flights.According to a spokesman for the airline, the major reason for the delay was the difficulty of beginning the service in the face of escalated tension between US and Iran, with Washington tightening sanctions on the Middle Eastern country.  (Korean Air)“The restrictions on dollar transactions makes it difficult for us to set up a branch in Iran and sell tickets,” he said. Kore

Convenience store chain GS25 said Tuesday that it has partnered with LG Household & Health Care’s cosmetics brand Beyond, looking to expand its sales by setting up a new cosmetics category.The two companies said they agreed to the launch after seeing growth potential in cosmetics sold through convenience stores. GS25’s sales in the personal care category have been rising steadily, with a 10.3 percent on-year rise in 2014, 16.9 percent rise in 2015 and 19.7 percent in 2016.“We have existing perso

DRINK RESPONSIBLY -- Premium alcoholic beverages company Diageo said Monday it will be holding lectures on responsible drinking called “DrinkiQ” for college freshmen at nine universities nationwide through mid-March. The lecture series, which includes tips for a more responsible drinking culture, has been hosted by Diageo since 2009. Pictured is Diageo Korea Director Lee Deok-won giving a DrinkiQ lecture at Hankuk University of Foreign Studies, Global Campus on Sunday. (Diageo Korea)

The website of Korea’s second-largest carrier was hacked early Monday morning, temporarily sending users to a different webpage.According to Asiana Airlines, its website flyasiana.com suffered a Domain Name System attack around 4:35 a.m. on Monday. Users who attempted to access the site were sent to an image screen depicting men in masks and a hateful message about the feud between Serbians and Albanians, as well as the Newborn Monument in Pristina, Kosovo, which was created to commemorate Kosov

BUSAN -- About 10 minutes outside Gimhae International Airport in Busan stands a cluster of buildings that make up the Korean Air Busan Tech Center. Housing facilities for airplane maintenance, repair and overhaul as well as manufacturing, the 710,000-square-meter complex is where Korean Air is currently building parts for the new Boeing 787-9 Dreamliner.Korean Air is best known for its commercial airline, but at the Busan Tech Center it has also been in charge of maintaining aircraft as well as

Samsung heir apparent Lee Jae-yong’s life has been turned upside down since he was taken into custody on allegations of bribery Friday.For the second consecutive day on Sunday, Lee stood handcuffed and bound with white ropes in front of special prosecutors, his prisoner identification number marked on his navy suit.He is the first head of Samsung to be locked behind bars in the conglomerate’s history. At the Seoul Detention Center in Uiwang, Gyeonggi Province just outside Seoul, he is being kept

STARBUCKS‘ DIGITAL RECEIPTS -- Starbucks Korea said Thursday that more than 500,000 people have signed up for its digital receipt program, which aims to reduce paper waste. In the past two months, Starbucks has issued 15 million digital receipts, saving 17,000 rolls of paper. (Starbucks Korea)

Online open market 11st has launched in Thailand, its operator SK Planet said Thursday.Thailand is 11st’s fourth overseas expansion following launches in Turkey in 2013, Indonesia in 2014, and Malaysia in 2015. The launch in Thailand will begin with over 3 million products across eight categories including fashion, electronics, and leisure. There will also be deals offered for a limited time with products curated by 11st. “We saw that Thailand’s e-commerce sector has huge growth potential consid

South Korea’s leading defense company LIG Nex1 said Thursday that it will be participating in the International Defence Exhibition and Conference 2017.In its seventh appearance at IDEX, LIG Nex1 will be displaying state-of-the-art products including the medium-range anti-air missile KM-SAM, Korean GPS Guided Bomb Kit, portable surface-to-air missile Chiron, Artillery Locating Radar and Software Defined Radio. In addition, LIG Nex1 will be introducing a powered exoskeleton robot that boosts the u

Shinsegae Department Store said Wednesday it has created a new jewelry brand called Addir that focuses on diamonds. Its products will be designed, sourced, manufactured and sold through Shinsegae Department Store. Addir opens at the department store’s Daegu branch Thursday and its Gangnam branch Friday. Addir at Shinsegae Daegu is shown in the picture. (Shinsegae Department Store)