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Tag: Korea

  • Map apps offer tips to beat the Chuseok traffic

    Map apps offer tips to beat the Chuseok traffic

    Korea’s top navigation apps have released their projections on the best and worst times to travel from Seoul to the provinces for the Chuseok harvest holiday.

    The three-day Chuseok holiday starts on Sunday, but the government granted a substitute holiday on Wednesday, as Sunday is already a day off. The Chuseok holiday season is considered to run from Friday night until Wednesday.

    SK Telecom, which operates the country’s largest mobile navigation app, T Map, advised drivers headed for Busan or Gwangju to leave Seoul before 10 a.m. on Friday or after 3 p.m. on Saturday or Sunday based on its analysis of traffic data accumulated over the last five years.

    The worst traveling hour for people heading to Busan from Seoul will be around 11 a.m. on Monday. The mobile carrier said it would take more than eight hours to travel from Seoul to the coastal city then. If there’s no traffic, Seoul residents can reach Busan in a little over four hours.

    As for travelers to Gwangju, SK Telecom said the worst time to leave Seoul would be 4 p.m. on Friday.

    For those traveling back to Seoul from Busan or Gwangju, the mobile carrier suggested leaving before 8 a.m. on Monday or after 8 p.m. on Tuesday.

    The KakaoNavi app, operated by Kakao Mobility, also disclosed its own projections based on data it accumulated since 2011.

    Kakao advised drivers to leave Seoul between 6 and 8 p.m. on Sunday if they are headed to Busan. The company said the trip would only take about 4 hours and 30 minutes at that time.

    Kakao also gave exact times for travelers leaving Seoul for Gwangju, Daejeon, Daegu and Ulsan as well. It said the best time to leave for Gwangju will be 6:40 p.m. on Sunday. For Daejeon it will be 7:40 p.m. and for Daegu and Ulsan it will be 7 p.m.

    For those traveling back to Seoul from different destinations, the company suggested that drivers leave after 8 p.m. on Monday. Both companies, however, said that traffic will generally move at a crawl on highways on Monday until late at night.

    As drivers tend to be increasingly dependent on navigation apps during the holiday period to find less congested routes, SK Telecom spokesperson said it has secured extra server capacity for T Map. Last year, some navigation apps, including OneNavi, malfunctioned during the holiday due to traffic overloads.

    It is also gearing up to secure stable network connectivity during the holiday season, as failed data connections on roads could cause chaos even if the apps work well.

    According to SK Telecom, T Map usage increases by 51.5 percent and LTE data usage increases by 11.3 percent during the Chuseok season. To provide stable telecommunications networks, the mobile carrier added data capacity at existing base stations and extra WiFi equipment near dense traffic areas like highways, large discount stores and airports.

    It will operate an emergency response team consisting of roughly 2,200 staff members to manage network quality from Friday through Wednesday.

    Other carriers are also beefing up their networks. KT designated 700 places, including bus terminals, airports and department stores as areas that will be reinforced. The carrier said it plans to use 590 staff members to monitor LTE base stations in these areas around the clock. LG U+ said it will also operate an emergency response team to monitor its telecommunications network from Saturday through Wednesday.

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  • Beautytap California flagship store open door

    Beautytap California flagship store open door

    South Korean beauty platform, Beautytap, has opened its first fully fledged retail location in California.

    Located at South Coast Plaza in Costa Mesa, the store is a one-stop destination for Korean beauty education, advice, content, community engagement and products.

    The store offers premium luxury beauty products, direct from Seoul, selected by Beautytap’s team.

    The brand has also launched a website for the US market featuring community-driven content on K-beauty, intended to complement the in-store experience and educate customers.

    Alongside Beautytap’s own products, the store also stocks products from K-pop star Jessica Jung’s Blanc & Eclaire skincare line Serein Skincare, her second point of sale in the US.

    “Skincare is a passion of mine, and I chose to partner with Beautytap to carry my Serein Skincare line because they embody K-beauty as an everyday lifestyle,” Jung said.

    James Sun, founder and CEO at Beautytap, said that with 90 per cent of beauty products still being purchased in physical stores, the company knows it has to go above and beyond an online experience to build a true relationship with its customers.

    “This is where the physical element comes in, by allowing customers to come into our store so they can experience and learn about products and interact with our educated staff, in-person,” he said.

    South Coast Plaza is one of the US’ top-grossing shopping centres and features a high concentration of designer boutiques. “It was the perfect location for our first retail store,” said Sun.

    K-beauty experts will be in store at the Beautytap flagship to explain products to customers and recommend the most appropriate products for customers.

     

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  • GS25 brings facial recognition to new shop

    GS25 brings facial recognition to new shop

    Convenience store chain GS25 has opened up a cashier-less store in Seoul that uses face-recognizing cameras to handle payments.

    The company’s first Smart GS25 started operation at LG CNS’ headquarters in Gangseo District, western Seoul, on Monday. LG CNS is a long-time provider of electronic systems to GS25 and one of the companies working to add state-of-the-art technology to the convenience store chain.

    The unmanned branch is only accessible to LG CNS staff. The store’s front entrance will allow customers to enter through face recognition after they register with a camera in front of the store. Payments can also be made through the face-scanning technology, and the store automatically charges customer’s bank accounts.

    “We aim to introduce and test 13 new smart solutions by the end of this year at the Smart GS25,” the convenience store said in a statement on Monday. “The [long-term] purpose is to apply them to our branches to reduce our franchisees’ labor costs.”

    The experimental GS25 has eight new tech features. Although GS25 is late to the game, as its competitors CU, 7-Eleven and Emart24 have already rolled out their own automated technologies, some of GS25’s features are new to Korean convenience stores.

    One is the aforementioned face recognition technology for entrance and payments. Another is the image scanner at the cash register. Most convenience stores without a human cashier use barcodes to identify the products. GS25’s new system instead identifies an item by its packaging and weight.

    This allows customers to simply place items on the table before paying using facial recognition or a credit card. The company says it takes only about a second for the system to recognize five items at once, whereas with the conventional bar code system it would take 15 seconds to scan them one by one.

    An infrared camera and sensors are also installed at the store to regularly check which items need to be restocked.

    This system measures the distance to products to see whether there are any left on the shelf and automatically reports this information to the store supervisor.

    Other features include a smart CCTV that will track where customers spend the most time. This can help the store owner to decide where to place different items.

    “The Smart GS25 is not just an unmanned convenience store packed with tech gadgets,” said Lee Hyun-gyu, a manager of the new shop. “Its main function is to prove technologies that will enhance the convenience of store operation and relieve franchisees of the burden of labor costs. We expect some of the technologies tested here will be shown at our franchises by next year.”

    A GS25 spokesman added, however, that a Smart GS25 open to the public would probably not be autonomous.

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  • SK Telecom cranks up speed of WiFi by four times

    SK Telecom cranks up speed of WiFi by four times

    SK Telecom said Monday it commercialized a next-generation WiFi service that is four times faster than existing services at key areas with dense traffic, including COEX in southern Seoul.

    The new technology offers a maximum of 4.8 gigabits per second (Gbps) data speeds, which is about four times faster than the WiFi service commercialized in 2013, according to the mobile carrier.

    The new “T WiFi AX” uses four antennas to transmit and receive radio waves and works on 160 megahertz bandwidth, twice as large as the bandwidth used by the existing WiFi services, according to SK Telecom. Broader bandwidth translates to faster data speeds just as eight-lane highways are better at relieving traffic congestion than four-lane highways. The bandwidth is spread across 2.4 gigahertz and 5 gigahertz bands.

    The mobile carrier also cooperated with fixed-line service operator SK Broadband to offer network stability even in crowded areas.

    Currently, SK Telecom has the new WiFi service operating in busy areas like COEX in Samseong-dong and U-Square, a large bus terminal in Gwangju. The mobile carrier said it will keep expanding services for nationwide coverage.

    Customers, however, will not be feel a dramatic increase in data speeds with their existing smartphones, according to the mobile carrier.

    “The WiFi service is built on a 802.11.ax standard set by the Institute of Electrical and Electronics Engineers but smartphones in the market do not carry chips that meet that standard yet,” a spokesperson from SK Telecom said. “Phones released next year will carry chips that let users experience 1.2 Gbps data speeds.”

    According to data from SK Telecom, the maximum data speeds for smartphones on WiFi connections until now was 866 megabits per second, and the speeds will continue to increase following upgrades in smartphone hardware.

    The mobile carrier developed the technology last October. After test operations in various traffic scenarios, its technology and network equipment was approved for deployment by the Ministry of Science and ICT last month.

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  • G.U has its button on the trends

    G.U has its button on the trends

    G.U, a casual clothing retailer owned by the parent company of Uniqlo, opened its first Korea store in the Lotte World Mall in southern Seoul on September 14 with the promise of bolder patterns and slightly lower prices that can’t be found at its better-known sister brand.

    The 1,390-square-meter (14,960-square-foot) store in the mall’s basement comprises 11 sections divided by gender, age and apparel, from sportswear and pajamas to suits and business casual clothing. GU’s parent company is Japan’s Fast Retailing, best known for Uniqlo.

    “Part of our strategy is to divide sections not only by demographics but style,” said Koh Ah-ra, head of GU’s Korea operation, “and suggest style examples for each section and update products every week to offer consumers an idea of the global fashion trend.”

    At a press event on September 13, Koh noted that half of the store’s floor space had been dedicated to mannequins showing different style options using GU products. Trendiness, she said, is the core identity that separates it from Uniqlo’s focus on good-quality but basic items like white shirts and trousers. For that reason, GU has established research centers in the fashion capitals of Tokyo and London.

    GU is not new to fashion enthusiasts, thanks to its association with Uniqlo. On opening day, there was already a queue outside when the doors opened at 10 a.m.

    The store’s interior does not look drastically different from Uniqlo, with apparel hung in neat lines on clean white shelves. The noticeable difference is the colors and patterns – bright oranges and red checkered patterns that might not be found among Uniqlo’s more earthy tones.

    The Jamsil store has 40 “fashion advisers” on hand to help customers find the right items for their style and offer advice if they want to step outside of the box to try something new. The advisers, according to GU, are tested on their basic knowledge of fashion and are not required to wear uniforms. They pick their own clothes, often in opposition to each other. One employee might be wearing street fashion while another has on business casual, a rare practice in Korean fast fashion.

    GU’s first store in Korea is also a testing ground for retail tech. One is the GU Fashion Stand, a kiosk that shows photos and Instagram posts of models wearing GU items. Customers can tap specific items on the screen to look up product information and put them in a wish list that can be sent to their smartphone.

    The prices, however, are not drastically different from those at Uniqlo, despite GU promoting lower cost as one of its advantages. The discount largely ranged from several thousand won to around 10,000 won (a couple of dollars to US$10) compared to similar items at Uniqlo.

    Several items at the Jamsil store are currently exclusive to Korea, including long padded coats and skinny ankle jeans.

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  • New K-beauty brand from Memebox x Sephora

    New K-beauty brand from Memebox x Sephora

    Korean beauty and tech company Memebox continues its U.S. repositioning with the launch of Kaja Beauty, the first complete K-Beauty color cosmetics line in the States.

    Created exclusively in partnership with Sephora, the new brand is launching with a 47-item product collection, including blushes and eyeshadows. The line will launch on Sephora.com on September 18 and then roll out to 58 of its top doors on Sept. 28, though a smaller selection of products will be available in all 410 Sephora stores.

    The launch comes as Memebox is shifting strategy. In June, the company, which was founded in 2012 as a Korean beauty subscription box service and has raised US$160 million in funding so far, relaunched its U.S. e-commerce business after shutting it down in 2017 to focus on its own online community and building key retail partnerships.

    “The first phase of Memebox was bringing third-party products to the U.S.,” said Memebox CEO Dino Ha. “Now, it’s about building a singular brand that resonates more.”

    Its U.S. site now only features its global private-label brands, like Pony Effect, Nooni and I Dew Care (the latter two are also sold at Ulta), and an edited 54 products across the three brands — Kaja won’t be sold on Memebox’s own e-commerce platform at launch, but will debut on the site in the coming months. Memebox also launched its Insider Access dashboard in June, which features influencer-curated micro-shops and content for its online community to read reviews and discover third-party product via affiliate links.

    But finding a large American retailer to partner with was Ha’s top-of-mind priority to drive growth, which is where Sephora came in.

    Fifteen thousand new brands come out of Korea every year, according to Ha, so to cut through, Kaja is bent on being “customer-centric.” From ideation to launch, the product development took about five months (compared to the typical 18-month production cycles typical of cosmetics and skin-care brands), and was created using customer insights from Sephora’s and Memebox’s 5 million global customers.

    As it stands, Sephora doesn’t sell any K-beauty branded color cosmetics online or in-stores. Eighty percent of the customers surveyed for Kaja were non-Asian — they were very familiar with Korean skin care but showed a desire for color cosmetics. Thus, Ha realized that makeup versus skin care was Korean beauty’s natural next frontier in America. This is the first time Memebox has partnered with Sephora, though the retailer has other K-beauty partnerships, including with e-commerce site Glow Recipe. It has also worked with online site Peach & Lily in the past.

    “Sephora was particularly in-tune with the white space around makeup in the K-beauty market,” said Ha. “Korean beauty has always focused so heavily on skin care, so we wanted to be the first K-beauty brand that was actually about makeup.”

    While Memebox sells a few makeup products in its Pony Effect brand, which was created in partnership with celebrity makeup artist and mega-influencer Pony and offers lip glosses and lipsticks, Memebox was also highly penetrated in skin care, thanks to its Nooni and I Dew Care lines. Kaja is meant to capitalize on that color cosmetics opportunity.

    Other K-beauty retailers like Peach & Lily have recently introduced branded product lines, proving these Korean startups have the opportunity to fuel revenue with their own assortments. In March, market research firm Euromonitor International reported that since 2015, South Korea’s beauty exports to the U.S. grew 59 percent, reaching $207 million.

    Price was a major consideration for Kaja Beauty — all of the makeup products range from $14 to $24 — in order to further reach those millennial and Gen Z customers. “It’s really about giving that girl on the go what she wants,” said Yoon Sung Choi, Memebox’s vp of brand development.

    Memebox is also rebranding its social presence with a Kaja Beauty-forward point of view. On Monday, the brand announced on Instagram that it will be refocusing its account on its new Sephora partnership, and on Wednesday, Memebox totally swiped its Instagram, leaving only a handful of in-feed posts artistically teasing the new Kaja beauty products.

    Ha said more Kaja products are on deck with Sephora for 2019, and that Memebox wants to be able to react quickly to customer responses on the new lineup. “Half of our product plan is still wide open, so we can be as deductive as we can be to expand,” he said.

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  • Mulberry thinks big in South Korea with Seoul show

    Mulberry thinks big in South Korea with Seoul show

    Mulberry has set its sights firmly on Seoul and South Korea. After Tommy Hilfiger’s show in Shanghai, it is now the turn of the British luxury leather goods label to tread the catwalks in Asia.

    For four days, Mulberry will be staging a series of events in the South Korean capital, for its ‘Mulberry x Seoul’ operation. Top of the bill is a show scheduled on September 6 at 8 p.m. at the K Museum of Contemporary Art, which is broadcast live on Mulberry’s website and social media accounts.

    The show introduced the label’s ‘Eccentric Sensibility’ Autumn/Winter 2018-19 collection, with which creative director Johnny Coca seeks to explore “the mischievous, eccentric facet of British style.”

    Mulberry is keen for Koreans to discover its own brand of British eccentricity, “the by-product of a juxtaposition of historical and visual references.” The show will be followed by a gala evening organised by artist collective Studio Concrete and by renowned Seoul club Trunk, notably featuring star Korean DJ Peggy Gou.

    The public also enjoyed a comprehensive Mulberry experience, with events including British-themed cocktail parties, a selfie studio and films. For the occasion, the Museum of Contemporary Art will host a Mulberry pop-up store, with the chance to win gifts and, above all, one of the exclusive Small Harlow handbags from the latest collection – a limited edition of the model will be available in Korea for two weeks. In parallel, and until September 21, Seoul’s two 10 Corso Como concept stores will showcase a selection of Mulberry items from the new collection.

    “At a time when we are focusing on international expansion, this event will boost our distribution network in South Korea, which is already robust. We want to realise the brand’s potential in this crucial market, and to address more directly a generation that is young, curious and keen on digital tools,” said the CEO of Mulberry, Thierry Andretta, in a press release.

    Mulberry recently set up the Mulberry Korea joint-venture company with its long-standing South Korean partner SHK Holdings. The British label has a 60% stake in the company, which will manage its business in the country.

    The two partners are planning investments worth €5.22 million. Mulberry currently operates 18 retail outlets in South Korea, including concessions, outlet and duty-free stores and an e-tail site.

    In recent years, the luxury leather goods brand strengthened its presence in Asia by creating other joint-venture companies, in China, Hong Kong, Taiwan and Japan. In the 2017-18 financial year, which closed on March 31, Mulberry generated a revenue of €192.61 million, up 1 percent, while its retail sales rose 3 percent, reaching €150 million.

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  • Korean culture inspires Louis Vuitton

    Korean culture inspires Louis Vuitton

    Stylist Seo Young-hee has designed a special edition trunk for Louis Vuitton, influenced by Korea’s traditional marriage culture.

    Seo, who worked as a stylist for Vogue Korea before switching to work as an artistic director of fashion on a project basis, is known for combining Korean traditional crafts with modern fashion. She was inspired by the luxury brand’s “Volez Voguez Voyagez” exhibition in Seoul last year.

    At the exhibition, one of the brand’s signature trunks was decorated like a “hahm” using objects placed inside and outside it, Seo said. A hahm is a special box containing presents that is traditionally sent to a Korean bride’s house by the groom before the wedding.

    From last November, she discussed the project with a director from Louis Vuitton’s Special Order Trunk team. After a nearly yearlong project, a Wardrobe Trunk and a Cabinet Trunk were created.

    It is the first time that Louis Vuitton, known for its bespoke trunks for special occasions, has made a trunk influenced by Korean tradition.

    The trunks, decorated with traditional Korean fabric and embroidery, carry special ornaments related to the hahm tradition. The cabin size trunk was designed to be lower in height compared to other products, considering that hahm are usually carried on the back.

    “It was an unforgettable experience to visit a workshop in Asnieres, France, and talk about trunk-making with an artisan who worked with respect for and interest in Korean traditional culture,” Seo said.

    The limited edition hahm trunk can be custom ordered at local Louis Vuitton stores.

  • Brooks Running arrives in South Korea

    Brooks Running arrives in South Korea

    South Korean fashion retailing group Samsung C&T has announced plans to sell Brooks Running products under exclusive contract.

    The Seattle-based sports apparel label occupies a large share of the American running gear market and is one of the top three running labels globally, with operations in more than 50 countries.

    The company expects to lead the local running market with its expertise and technology to match the growing wellness trend and number of runners in the country, according to an official spokesperson.

    The brand’s five-level flagship store will open in the fashionable district of Gangnam in southern Seoul.

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  • India is Hyundai’s land of opportunity

    India is Hyundai’s land of opportunity

    Hyundai Motor is still working hard to woo Indian consumers as the world’s second-most populous country emerges as one of the fastest growing markets in the global auto industry.

    Hyundai Motor Vice Chairman Chung Eui-sun made a speech at the first Move Global Mobility Summit on Thursday, presenting the automaker’s plan to pursue future mobility and its dedication to the Indian market.

    The summit is a two-day state-run event taking place in New Delhi under the theme “Shared, Connected and Zero Emissions Mobility.” More than 1,200 attendees, including the CEOs of auto giants and start-ups, will participate in discussions centering on future mobility.

    “Hyundai Motor will actively pursue to become a smart mobility solution provider from a manufacturer,” Chung said in his speech.

    “I am certain that innovation in mobility will improve not only people’s lives but also improve environment and energy issues at the same time. It will also act as a means to connect the urban with the suburban and a person with another person,” he added.

    Chung also unveiled plans to launch a total of four eco-friendly vehicles in India in the near future, three of which will be electric models and the fourth a hydrogen-powered Nexo.

    Hyundai Motor, the world’s fifth-largest automaker, has seen huge potential in India’s auto market for some time.

    India is currently the world’s fourth-largest auto market, posting a year-on-year sales growth rate of 9.5 percent according to 2017 market data.

    Hyundai Motor established its Indian office in 1996 and has been using the regional office as an export hub, sending cars made there to more than 90 countries.

    Hyundai Motor is currently the No. 2 player in India. It sold some 320,000 units this year as of July, posting a year-on-year growth rate of 7.5 percent. The i20 hatchback and small SUV Creta are the most popular models.

    Most recently, the automaker has made a hefty investment in local car-sharing start-up Revv.

    Hyundai’s smaller affiliate Kia Motors belatedly entered the Indian market in 2017 by starting the construction of a local factory with a $1.3 billion investment. It will start sales of its models from next year.

    At the forum, Hyundai Motor summed up its strategies in pursuing future mobility with three keywords – clean mobility, freedom in mobility and connected mobility.

    “India has been taking significant steps toward the future it has long dreamt of,” Chung said. “[The country] will play a leading role not only in the manufacturing industry but also in ICT in the face of the fourth industrial revolution as well,” he added.

    According to Hyundai Motor, Chung attended a tea meeting with Indian Prime Minister Narendra Modi and 50 other global companies CEOs after making the speech on Thursday.

    The CEOs of Maruti Suzuki, Mahindra & Mahindra, Tata, Toyota, Ford, Mercedes-Benz, Uber and SoftBank all attended the summit.

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  • Shinsegae opens Show&Tell stores for men

    Shinsegae opens Show&Tell stores for men

    South Korean retail conglomerate Shinsegae has launched a lifestyle editorial shop for men.

    The “Show&Tell” store opened in two Shinsegae locations; one at the Starfield luxury shopping complex in Hanam, and the other as an outlet in Yeoju city.

    Described as “providing a new playground for men,” Show&Tell displays a range of local and foreign brands priced to attract consumers to visit offline malls.

    Shinsegae has recently introduced giant luxury and leisure shopping malls locally and a discount chain store in Japan.

  • Uber Eats aims to boost presence with CJ deal

    Uber Eats aims to boost presence with CJ deal

    U.S. food delivery app Uber Eats said Wednesday that it has signed a partnership with Korean food service company CJ Foodville in the latest move to boost its presence in the country’s growing food delivery market.

    Uber Eats said major CJ Foodville brands, such as VIPS, Cheiljemyunso, The Place and Juice Solution, would be easily accessible through its app in Seoul, a heavily populated city with a population of some 10 million.

    Eight out of 10 Koreans use smartphones, and they increasingly order popular food items through mobile apps.

    “We are excited about our partnership with CJ Foodville, the national representative food service brand, bringing its diverse selection to our customers,” Jean-Marc Serayssol, head of Asia sales at Uber Eats, said of the deal signed last Tuesday. “With this partnership, Uber Eats customers can now order CJ Foodville brands at the simple tap of a button, and Uber Eats will continue to expand to provide our services anytime, anywhere.”

    The food franchise unit of Korean food and entertainment conglomerate CJ Group has about 1,500 franchises across Korea and nearly 400 franchise stores in seven countries, including the United States, China and Vietnam. CJ Foodville is planning to reinforce the collaboration with Uber Eats overseas.

    Uber Eats, a food delivery service app run by ride-sharing pioneer Uber Technologies, began its business in Korea in August last year and currently has more than 1,500 local restaurant partners in Seoul.

    Uber Eats did not disclose its share in Korea’s estimated 12 trillion won ($10.7 billion) food delivery app market dominated by homegrown apps, such as YoGiYo and Baedal Minjok.

    Uber Eats is part of Uber’s attempt to expand its presence in Korea, where the company’s flagship ride-sharing service, Uber X, was banned in 2015 because it conflicted with the local transportation law.

  • LG vows to invest more in Austrian affiliate ZKW

    LG vows to invest more in Austrian affiliate ZKW

    LG Electronics said Friday it will continue to invest more in Austrian automotive lighting system firm ZKW Group, which was purchased by the South Korean company earlier this year.

    In April, LG Electronics bought a 70 percent stake in ZKW, with the holding firm LG Corp. purchasing a 30 percent stake. The 1.4 trillion-won ($1.24 billion) deal marked the biggest merger project carried out by LG to date.

    The Korean tech giant said LG Vice Chairman and CEO Jo Seong-jin visited the headquarters of ZKW, located in Wieselburg, Austria, earlier this week, sharing the company’s vision with the new sister firm.

    Jo stressed ZKW will play a great role in LG’s future projects and promised to give leeway to the Austrian-based firm’s management based on trust.

    In April, LG said it will retain the current management at ZKW even after the acquisition and guarantee the employment of its Austria-based staff for the next five years. LG also vowed to continue making investments in ZKW.

    ZKW, meanwhile, announced its new logo to mark a new start after becoming a member of the LG family.

    The Austrian firm was established in 1938 and is specialized in the production of premium automobile lights.

    LG Electronics plans to increase investments in ZKW to bolster its automotive parts business.

  • Asiana Airlines Korea appointed new president

    Asiana Airlines Korea appointed new president

    Kumho Asiana Group announced a personnel shift on Friday, with Han Chang-soo, head of Asiana IDT, an information and communication technology unit of the airliner group, being appointed as the new president of Asiana Airlines.

    Park Se-chang, a third-generation member of the Kumho Asiana founding family, succeeded Han as head of Asiana IDT.

    Park is the only son of Kumho Asiana Group Chairman Park Sam-koo and the current CEO of Kumho Asiana Group, a position that he took over in February 2016.

    The 43-year-old Park has held various positions since he joined the group in 2002, including at Kumho Tire, where he was the vice president.

    While the CEO of Kumho Asiana Group, Park led a task force dedicated to fourth industrial revolution technologies.

    Asiana Airlines’ new president, Han, joined the group in 1986 and was one of the employees that participated in the launch of the airline in 1988.

    From 2005, he worked in strategic planning in the airlines financial department before being appointed as the head of Asiana IDT in March 2015.

    Han’s appointment came after his predecessor Kim Soo-cheon offered to quit a day earlier.

  • Purchases made online with phones hit record in July

    Purchases made online with phones hit record in July

    Purchases made using the internet and mobile devices in Korea reached an all-time high in July, government data showed Wednesday, demonstrating the popularity of smartphones, fast delivery and convenient payment options offered to local shoppers.

    The total value of transactions made with computers, smartphones and tablets reached a record 9.45 trillion won ($8.45 billion) in July, up 22.7 percent, or 1.75 trillion won, from a year earlier, according to the data from Statistics Korea.

    The sharp rise was attributed to increased demand for electronics, leisure goods, daily necessities and food amid sweltering weather and the vacation season, the agency said.

    The total value of mobile transactions soared 33.5 percent to a record 5.92 trillion won, accounting for a record 62.6 percent of all online purchases in July.

    Mobile purchases in Korea have been on the rise for years as devices expand their presence in the world’s most wired country and rapidly replace computers as the means of conducting online transactions.

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