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Tag: Korea

  • E-Mart to have electric car charging at all stores

    E-Mart to have electric car charging at all stores

    Korean hypermarket giant E-Mart plans to install electric car charging stations at all of its outlets nationwide by 2021.

    The company initiated formal service of nine electric car charging stations in four regions (Sokcho, Gangneung, Geomdan, and Gumi) this week.

    The stations can accommodate many cars at any given time. From October, E-Mart will be expanding the number of charging stations by 30 every year so that by 2021, the total number of stations within its overarching Shinsegae Group will reach 1100 including the 140-odd stations installed on the premises of its E-Mart stores.

    The multi-car charging stations will each accommodate 18 cars that can be fully charged within 40 minutes at 100kWh, making them the fastest chargers in the nation.

    A new payment system that automatically recognises the driver’s Hi Pass payment card number will make payment easy without requiring the driver to take out his or her credit card.

    E-Mart was the first retailer in the nation to build charging stations for electric cars. The company currently operates more than 110 charging stations with a total capacity of charging 200 electric cars.

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  • Duty-free market still dominated by South Korea

    Duty-free market still dominated by South Korea

    South Korea has maintained a dominant share of the global duty-free market, despite its recent political turmoil.

    According to a GlobalData report, with a 22 per cent share of sales, South Korea is the world’s largest duty-free market, which reached a sales high of US$11.7 billion last year. The past two years have seen sales growth of 23.1 per cent annually in the sector.

    These sales figures were achieved against the context of the Terminal High Area Defense (THAAD) missile row between South Korea and China that halved the numbers of Chinese tourists visiting the country.

    Maureen Hinton, retail research director at the data and analytics company, said: “The deployment of the THAAD missile system in South Korea and the consequent ban on Chinese travelers visiting the country was potentially very significant. As the Chinese are the big spenders and a key driver of the market, a decline in sales should have been the outcome.”

    Despite this, Chinese shuttle traders, who on-sell high quantities of Korean duty-free products back in China, combined with international attention on the Seoul Winter Olympics, have been major factors in the country’s dominance of the market sector.

    Hinton added: “GlobalData forecasts that by 2022, South Korea will account for nearly a quarter of all duty free spending at 24.1 per cent of the global market. However, optimism about a new settled relationship with North Korea could drive its sales even higher if the border opens.”

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  • Chinese and Russian business key to Lotte Duty Free’s success

    Surging Chinese and Russian visitor numbers suggest a strong future for Korean travel retail giant Lotte Duty Free’s new store at Cam Ranh International Airport in Nha Trang, opened on 30 June.

    As reported, Lotte Duty Free has been awarded an exclusive ten-year duty free concession. The contract to operate some 1,680sq m of departures and arrivals space runs until mid-2028.

    Lotte Duty Free CEO Jang Sun-wook opened the store in the airport’s new terminal on 30 June.

    The store sells a wide range of traditional duty free items, including cosmetics, fragrances, watches, fashion, liquor and tobacco. The departures shop, sited directly in front of the main gates, covers 1,507sq m and the arrivals store 173sq m. Key Korean brands include The History of Whoo and Sulwhasoo, while blockbuster international names include Saint Laurent, Dior and Jo Malone.

    It is Lotte Duty Free’s second operation in Vietnam after the retailer’s opening at Danang Airport on 1 November last year. The company expects to generate sales of around 700 billion won (US$625.3 million at current exchange rates).

    Cam Ranh International’s new two-storey terminal covers 50,000sq m. It is expected to handle up to 8 million outbound travellers by 2030.

    Nha Trang is the most popular tourist destination in central Vietnam. Some 2 million foreign tourists visited the area in 2017, a number set to rise by some 20 percent this year. Critically from a retail perspective, Chinese nationals comprise the largest visitor group with 58.9 percent of arrivals, ahead of Russians (27.4 percent). Koreans only make up around 2 percent of arrivals, but that number is expected to climb rapidly in the future as Jeju Air has added a new service to the city.

    Several mid-to-long-term infrastructure development projects are set to increase tourism. A new terminal is being built at the airport and more 4-5 star hotels are being added locally. Six shopping malls are in development while plans are well advanced for the area to develop an eco-tourism programme, including spa and craft village facilities, plus an international-class marina and resort.

    Lotte Duty Free said that corporate social responsibility will be key to its approach. For example, the company is cooperating with local authorities to help children receive surgery and other treatment at medical facilities in Danang. In October 2017, the company funded surgery for six Vietnamese children, and plans to continue the programme this year.

    During July, Vietnamese women from multicultural families are planning a one-off event to invite about 100 parents to the women’s homeland in Vietnam. Lotte Duty Free will help fund the programme.

    With plans to open further stores (including downtown) in Hanoi, Ho Chi Minh City and Danang, Lotte said it hopes to become Vietnam’s largest duty free brand within the next three years.

    Jang said the company aims to post a profitable return in year one. “We are especially focused on making a strong local social contribution,” he said. “I will do my best to create a strong brand.”

  • Korea’s cosmetics exports in January-May up 36.7 percent on year

    Korea’s cosmetics exports in January-May up 36.7 percent on year

    South Korea’s beauty exports remain unfazed, gaining nearly 40 percent in the first five months of the year against a year-ago period.

    According to data released by the Korea Customs Service on 28 June, K-beauty exports between January and May this year amounted to US$2.06 million, up 36.7 percent against a year ago and showing little signs of softening.

    Last year, cosmetics exports reached an all-time high of US$3.92 billion, nearly quadrupling from US$1.05 billion in 2013 and overwhelming imports of US$1.17 billion.

    The bulk went to ethnic Chinese – 37.4 percent in the mainland and 24.6 percent in Hong Kong. Of the remainder, 9.4 percent was consumed by Americans, 5.0 percent by Japanese, and 3.4 percent Thais.

    Chinese have been the biggest non-Korean consumers of K-beauty products since 2000. Exports reached US$1.47 billion last year alone, also helped by a sales tax cut on cosmetics in China.

    Korean beauty products are rapidly gaining ground in Vietnam. Exports to Vietnam hit US$123 million last year, up a whopping 109.5 percent on year. Shipments to traditional beauty powerhouses of France and the United Kingdom have also been on a steady rise.

    Basic skin care products accounted for the largest 50.7 percent of the country’s total cosmetics exports last year while makeup products made up 9.5 percent, those for eye makeup 3.6 percent, and lipsticks 3.2 percent.

    The Korea Customs Service forecast cosmetics exports to extend strong growth this year, fueled by renewed popularity of K-pop and Korean entertainers.

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  • Thailand’s Mistine launches in Korea

    Thailand’s Mistine launches in Korea

    Better Way Thailand, trading as cosmetics brand Mistine, is aiming to establish itself as an Asian brand by 2020.

    From this coming August, Mistine products will be exported for retail in Korea’s Incheon airport and in downtown Seoul, in the hope of attracting the destination’s annual 10 million Chinese visitors.

    Mistine already has a strong online presence in the Chinese mainland, where it is also available over the counter at Watsons health and beauty stores. It will launch its own flagship store in Beijing next year.

    These moves will constitute part of an effort to increase export volumes from 10 per cent to 20 per cent of its stock in the face of lagging demand at home.

    The company’s president Danai Derojanawong said Better Way needs to rely more on technology to make its logistics more efficient for customer satisfaction. “Direct sales may be disrupted by the rise of online shopping,” he said, “but we still believe they will not disappear from Thai society, because direct sales is a social business.”

    Currently 60 per cent of Mistine products are sold via direct sales, which Danai expects will drop to 30 per cent over the next five years.

    Danai said there is huge potential in the Chinese market. “We’ve only penetrated four cities, including Shanghai, Guangzhou and Shenzhen. We plan to expand our business into two new cities next year, Chengdu and Beijing. With those plans, we aim to enter the top five for regional colour beauty brands in Asia by 2020.”

    Mistine’s sales in China totalled THB3 billion (US$90.47 million) last year, and are expected to reach THB5 billion (US$150.78 million) this year.

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  • Starbucks to increase number of cashless stores in Korea

    Starbucks to increase number of cashless stores in Korea

    Starbucks Coffee Korea Co. said Monday it will increase the number of cashless stores to over 100 across South Korea this month amid rising use of credit cards and mobile payment systems in the tech-savvy country.

    Earlier in April, the coffee giant began a test run of three cashless stores in major office districts in and around Seoul.

    The proportion of cash transactions at these stores has since dropped from 3 percent to 0.2 percent, according to the joint venture between Starbucks Coffee International Inc. and South Korean retail giant Shinsegae.

    The company will turn 100 more outlets into cashless stores from July 16 in addition to the three under the trial system.

    Starbucks said the decision is part of its broader digital innovation drive as cash payment has been constantly declining at stores in South Korea, from 31 percent of the total in 2010 to 15 percent in 2013 and 7 percent last year.

    “South Korea has a high utilization rate of credit cards and mobile payments. That coupled with the country’s well-established digital infrastructure enabled our latest expansion decision,” Starbucks Korea CEO Lee Seock-koo said in a statement.

    The total daily average amount of electronic financial transactions came to a record 581.53 billion won (US$521.6 million) in the first quarter of this year, up 13.2 percent from a quarter earlier, according to government data.

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  • Weakening won poses new risks to Korean economy

    Weakening won poses new risks to Korean economy

    The weakening of the won in recent weeks carries both benefits and risks for the Korean economy that is being held back by a simultaneous downturn in investment, consumption and exports.

    Policymakers therefore face a thorny task to take proper steps in response to the weakening won that is set to have contradictory effects on the economy.

    The value of the Korean currency against the dollar fell to an eight-month low of 1,124.2 won per dollar in the Seoul foreign exchange market on June 28 before rising somewhat to 1,114.5 won the following day. Over the previous 14 trading days, the won lost its value against the greenback by 5.1 percent.

    Under usual conditions, the depreciation of the won can be seen as bringing more positive than negative effects to Korea’s export-dependent economy by enhancing the price competitiveness of the country’s exporters.

    What is concerning, analysts note, is the steep pace with which the won has been weakening.

    A comparison by Bloomberg of changes in the value of 20 major currencies against the dollar from May 31 to June 26 showed the won depreciated at the third-fastest pace of 3.32 percent.

    The Argentine peso and South African rand were the only two currencies that lost more value than the won. The Turkish lira and Brazilian real depreciated 1.91 percent and 2.05 percent, respectively, against the greenback.

    While the currency volatilities that hit most emerging economies earlier this year have lessened, the won is now in tune with the trend of depreciation against the dollar after remaining relatively strong partly due to reduced geopolitical risks on the Korean Peninsula.

    According to data from the Bank of Korea, day-to-day changes in the won-dollar exchange rate widened from an average 0.34 percent in May to an average 0.44 percent during the period of June 1-27.

    Analysts note a set of factors will likely precipitate the weakening of the won down the road, calling for measures to prevent a possible massive outflow of capital from the country.

    “The won could weaken to 1,150 won per dollar within the year, if the trade tensions between the US and China continue to intensify,” said Ha Kun-hyung, an economist at Shinhan Investment Corp.

    China’s move to devalue the yuan against the dollar to counter President Donald Trump’s trade pressure has served to push down the value of the won against the greenback in recent weeks. Experts note the local currency market is increasingly synchronized with the yuan’s movement as Korea depends on the Chinese market for nearly a quarter of its goods shipments abroad.

    Concerns are growing that the escalating trade friction between the world’s two-biggest economies will weigh on the country’s exports.

    According to government data released Sunday, Korea’s outbound shipments dropped 0.9 percent from a year earlier in June, marking the second monthly decrease this year following a 1.5 percent dip in April. A recent study by the Korea Institute for Industrial Economics and Trade forecast that the rate of on-year growth in the country’s exports would slide from 15.6 percent last year to 6 percent this year.

    The prospect of a slowdown in exports coupled with deteriorating profits of Korea’s major companies has prompted foreign investors to sell off Korean shares.

    Foreign investors have net-sold 3.8 trillion won ($3.4 billion) worth of Korean shares so far this year — nearly 1.6 trillion won in June alone.

    “One of the fundamental reasons for the capital outflow is the weakening of confidence in local companies’ long-term profitability,” said Lee Jae-man, an analyst at Hana Financial Investment.

    According to FnGuide, a financial information provider, the latest estimate of the combined operating profits of 132 major listed firms in the second quarter of the year reached 46.2 trillion won, down 8 percent from the 50.2 trillion won forecast at the start of the year.

    A widening gap between interest rates in Korea and the US may also add to accelerating the capital outflow.

    Policymakers seem ready to let the won continue to weaken.

    “At some point, measures may need to be taken to stabilize the market,” said a Finance Ministry official, asking not to be named. But he added it would not be worrisome that the value of the won might fall further below the current level.

    Pressured by the US and the International Monetary Fund, Seoul announced last month it would begin disclosing records on currency market interventions next year.

    It may well expect measures to push up the value of the won will not be subject to punitive action from the US, which has focused on curbing moves by trading partners to devalue their currencies to help bolster exports.

    What concerns policymakers is the possibility that the weakening won will be coupled with rising international oil prices to raise inflation. Korea’s consumer price hikes, which remained at 1 percent in January, reached 1.6 percent in April and 1.5 percent in May.

    The upward trend in prices may lead the BOK to increase its base rate, which has been held at 1.5 percent since November.

    The move may also be needed to narrow the rate gap with the US but would run the risk of further dampening domestic consumption and investment.

    According to recent data from Statistics Korea, the country’s retail sales and facility investment decreased 1 percent and 3.2 percent on-month in May, respectively, marking the second and third monthly decline in a row.

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  • New VR amusement park for Korea

    New VR amusement park for Korea

    As virtual reality becomes recognized as a viable film technology internationally, the Korean film industry is not hesitating to join the trend: film tech labs and visual effects houses are producing VR content more aggressively than ever, while major exhibitors are developing new technologies to screen this material.

    Until quite recently, VR content was rarely available in cinemas as most VR productions have been designed for theme parks and experiential games. But now South Korea is catching up the global trend – a movement in which VR animation such as Eugene Chung’s “Arden’s Wake” draw wide attention and leading film festivals launch competition sections specifically for VR films.

    South Korea has showcased quite a few notable VR film projects: in 2017, Gina Kim’s VR documentary “Bloodless” competed in the Venice film festival’s VR competition and won the best VR Story Award. Based on a true event in 1992, the film is about the murder of a Korean sex worker by an American soldier.

    More recently, VR romance drama “Stay With Me” opened in the immersive 4DX format at the CJ-CGV cinema chain. Directed by Bryan Ku, “Stay” revolves around the relationship between a boy who dreams of becoming a musician but is too afraid to go on stage, and a girl who aspires to become an actress.

    “When you think about VR, most of the time it would be either adventure, action or horror films,” Ku said at a press event for “Stay.” “I believe the greatest quality of VR lies in its capacity to let the audiences relate to the film emotionally, and romance drama is the genre that corresponds the most to this quality,” he continued.

    The world’s first film production that was both shot in VR and screened in 4DX format, “Stay” was specifically designed for 4DX screening from the beginning and was shot in 360 degrees, for which CGV’s 4DX effect team joined the project from the development stage.

    “4DX effects for VR should be different from those for other movies,” says Yoo Young-gun of CGV. “Visual elements are not enough to accomplish what VR is up to, which is to expand to a form of storytelling with its immersive characteristics maximized. With 4DX technology, the audiences can touch, smell and feel the films, meaning that virtual reality in its literal sense can be achieved.”

    CJ CGV is aiming to globally introduce 4DX VR by applying VR technology to its 500 4DX theaters across the world.

    “We are planning a VR add-on package, which allows exhibitors to show VR films, and are offering it to the 500 4DX theaters across the globe,” says Yoo.

    On the other hand, Lotte Cinema, South Korea’s second-largest exhibition chain, arranged a special program dedicated to VR content earlier this year. The program’s selection included Patrick Kwon’s “Nine Days,” South Korea’s first VR movie designed for theatrical release.

    “For this event we collaborated with Samsung and could use its HMDs and smartphones, but if we start regular VR screenings, it will be a lot costlier,” says Lotte’s Kang Seung-hyuk. “We will need to determine whether there’s enough content in VR that can cover these costs.”

    Since VR is still at an early stage and barely has a stable market, most VR productions rely on support funds. The Ministry of Culture, Sport and Tourism and institutes such as Korea Creative Content Agency and National IT Industry Promotion Industry are funding VR projects. Also, the Korean Academy of Film Arts launched a special course for VR production.

    At the same time, companies in the private sector are also making investments. Leading visual-effects house Dexter Studios is running a digital human virtual reality research lab and is working on a string of VR films that are set for theatrical releases at CGV within this year. The studio’s lineup includes sci-fi animation “From the Earth” and live-action horror picture “Trapped.”

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  • Emart’s take on Don Quijote opens in COEX

    Emart’s take on Don Quijote opens in COEX

    Emart’s Pierrot Shopping store has opened inside Coex mall, in southern Seoul.

    Aiming to be a “Fun and Crazy” destination, the 2513sqm two-storey store targets consumers in their 20s and 30s with a diverse range of 40,000 products.

    On basement floor, there is a large collection of alcohol and snacks from Korean and foreign brands, along with wigs, costumes and a discreet space for ‘adult toys’.

    On the first floor, customers will find goods as diverse as leather bags from brands such as Prada and Fendi, fresh food, cordless vacuum cleaners, smoking pipes, fake eyelashes and pet food.

    One curious feature in the store is a smoking room which resembles the interior of a subway train. An information desk and electronic kiosks offer tax refunds for foreign customers.

    A Korean version of Japanese Don Quijote chain, Pierrot Shopping store is designed “to be a place where young people can come to play and look around without a clear shopping purpose”.

    “You can come here to find relief from everyday stress, casually pick up things that look intriguing and buy them just because they’re affordable,” said Pierrot Shopping’s brand manager, Yoo Jin-cheol.

    While other large-scale retailers prioritise space and neatly arranged products so that consumers can easily find what they are looking for, at Pierrot Shopping the aisles are narrow and in some places it’s difficult for two people to pass.

    The staff wear uniforms with “I don’t know where that is either” printed on the back.

    Emart explained the intention was to make consumers venture more around the aisles, make unexpected discoveries and have a“fun experience”.

    Emart will open two more branches of Pierrot Shopping this year with smaller footprints than at Coex; at the Doota Mall and in Nonhyeon, in Gangnam District.

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  • The Shilla officially launches Beauty&You

    The Shilla officially launches Beauty&You

    Korean-headquartered travel retailer The Shilla has officially launched its Beauty&You concept stores in Hong Kong International Airport (HKIA) after a six-month soft launch.

    At the launch, Shilla Travel Retail Hong Kong MD Alice Woo said: “We hope to redefine the airport retail experience and customer journey with a comprehensive brand profile presented in an interactive and engaging environment. Our aim is to deliver the ultimate shopping experience to a diverse audience in one of the most robust travel markets in the world.”

    In line with experiential retail trends, Beauty&You offers curated hospitality with high-end product offerings to attempt seamless retail experiences. In a statement, the company said the store is designed to provide “journeys of discovery” for every customer, with professional beauty and fashion advisors placed in engagement zones with both branded and unbranded counters, offering personalised recommendations.

    The retail space is not only designated as a shopping environment, but also for “retailtainment” where customers may explore their own beauty preferences by experimenting with combinations of multiple brands and experiences – involving digital elements such as virtual makeup apps and VR headsets, as well as instant photo printing and even a ‘lucky claw machine’.

    The store will stock around 200 brands, including premium labels not otherwise available at HKIA. These include David Beckham’s House 99; Korean & Japanese beauty brands The History of Whoo, su:m37o, Three, and ReFa; image-maker Nars; Italian-crafted luxury leather goods and accessory brands Bresciani, Maglia Francesco, Victrix; and accessory brands such as Alexander McQueen and Didier Dubot.

    To mark the official launch and the 20th Anniversary of HKIA, in-store promotions and discounts will be held throughout July.

    View the images of the newly launched villa below :

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  • LG takes the wraps off of X2 budget phone

    LG takes the wraps off of X2 budget phone

    LG Electronics on Thursday unveiled its budget LG X2 smartphone, which comes with a 5-inch HD screen and will be distributed through local mobile carriers.

    The company said the LG X2 will come with a price tag of 198,000 won ($176) and have an Auto Shot feature that automatically recognizes faces when taking selfies.

    The smartphone will have an 8-megapixel camera on the back along with a 5-megapixel camera on the front. Its battery capacity will be 2,500mAh.

    LG Electronics, which has been suffering from losses in its mobile business, claimed that the release of the new budget model will help the company reach out to a wider range of consumers.

    The company released its flagship LG G7 ThinQ model earlier this year, along with the LG V30S ThinQ, which came with stronger artificial intelligence features.

    In 2018, LG also introduced the LG X4 and LG X4 Plus with more affordable price tags, along with the LG X5, which has a large battery capacity of 4,500mAh. The company released the LG Q7 and Q7 Plus, too.

    The company said it aims to continue rolling out various smartphones with strong durability and improved features.

    LG’s mobile operations have effectively posted operating losses for 12 consecutive quarters as of the January-March period this year. It did manage to report an operating profit in the first quarter of 2017 through an adjustment by reflecting returns from its accessories business. LG originally said it posted a loss for the period.

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  • Lotte Japan votes to keep imprisoned Shin on board

    Lotte Japan votes to keep imprisoned Shin on board

    Shareholders of Lotte’s Japanese holding company voted to retain imprisoned Lotte Group Chairman Shin Dong-bin as director, dashing his estranged older brother Shin Dong-joo’s hopes to take over the position.

    At the meeting held at Lotte Holdings’ headquarters in Tokyo, shareholders voted against ousting Shin Dong-bin from the board and replacing him with his older brother. Shin Dong-joo has been trying to overthrow his brother since all of his titles, including vice chairman of Lotte Japan, were stripped from him in 2015. This was his fifth unsuccessful attempt to win over Lotte Holdings’ shareholders.

    His younger brother Shin Dong-bin, who has been in jail since February on charges of bribery related to President Park Geun-hye’s abuse of power scandal, requested bail earlier this month in order to make his case to the shareholders in the latest meeting. However, his request went unanswered until late Thursday. A team of Lotte Group executives in Korea, including Vice Chairman Hwang Gak-gyu, had to deliver Shin’s letter to Lotte Holdings’ top management.

    “We’re relieved that the shareholders of Lotte’s Japanese unit expressed their support for Chairman Shin despite his vacancy,” said Lotte Corporation, Lotte’s Korean holding company, in a statement issued immediately after the results came out.

    The statement also condemned Shin Dong-joo. It requested that he “stop evoking needless controversies that create an uneasy sentiment among [Lotte] employees and degrade the company’s value.”

    Shin Dong-joo issued a statement through his SDJ Corporation that the older Shin will “continue pushing efforts to normalize Lotte Group,” implying that he may continue to campaign to take over his younger brother’s position at the retail conglomerate.

    A few days after his imprisonment, Shin resigned as co-CEO of Lotte Holdings. The chairman’s detainment raised concerns at the group’s Korean unit, as Shin Dong-joo reignited his efforts to regain control over Lotte.

    Friday’s vote, however, indicates that Lotte’s Japanese unit still has faith in Shin Dong-bin’s leadership, despite a tendency for Japanese shareholders to be harsher on top brass accused of bribery charges.

    Lotte Holdings and its other Japanese affiliates currently own a large stake in the group’s core Korean businesses, like Hotel Lotte and Lotte Property & Development. Their approval is crucial for Lotte Group’s Korean affiliates’ plan to reduce the stakes that Japanese affiliates hold in them.

    “The restructuring is not a one-shot deal – we’re doing what we can, like acquiring shares little by little,” said a Lotte Group spokesman.

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  • Korean Brands Increasing Popularity Among Hong Kong Consumers Over Japanese Brands

    Korean Brands Increasing Popularity Among Hong Kong Consumers Over Japanese Brands

    A Nielsen report shows Korean products have usurped the popularity of Japanese products among young Hong Kong consumers.

    The report traces the local market’s perception of Japanese and Korean trends to assess which is perceived as being more popular. It shows that for the first time, more than half of respondents aged 18 to 54 are confident in the longevity of Korean pop-culture influences in the near future.

    Some 80 per cent of millennials, in a response pattern that skewed towards women, preferred Korean trends. And 88 per cent of higher-income respondents were shown to have strong brand recognition for Korean products and to have visited Korea twice within the last year.

    Key drivers behind Korean trends are shown to be entertainment, fashion, and personal care targeted at millennial buyers. Korean food products are also increasingly popular in Hong Kong.

    A third of all respondents indicated an intention to increase spending on Korean products in future.

    Nielsen Hong Kong & Macau’s MD Michael Lee said: “With the Korean market slowly emerging in Hong Kong, Korean brands can succeed and win Hong Kong customers’ buy in by being more customer focused, showing emphasis on product quality and charging a premium with innovation. This will certainly open up a new market for opportunities to come”.

    The Nielsen report’s release coincides with an announcement by Chinese online marketing platform iClick Interactive Asia Group that it will form a strategic partnership with MezzoMedia, a Korean digital marketing solutions firm. The move is intended to further open the large Chinese consumer base up to Korean brands.

    MezzoMedia senior VP Kim Jin-Kyu said: “As one of Korea’s largest agencies, we work with brands that have significant appeal to the Chinese consumer… [iClick] will allow targeting into the largest internet audience in the world. In addition, their strategic relations with Tencent, Baidu and Ctrip give access to premium inventory.”

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  • Struggling Hyundai Heavy lays off quite a few execs

    Struggling Hyundai Heavy lays off quite a few execs

    Hyundai Heavy Industries, the world’s largest shipbuilder by sales, said Sunday it has cut a third of its executives in its offshore and engineering division as new orders have dried up.

    The move came a month before the shipbuilder is due to suspend work at its offshore facilities shipyard. The suspension scheduled for August is the first in 35 years.

    Hyundai Heavy has lost out to Chinese and Singaporean rivals in offshore projects in recent years due to its higher costs. The labor costs of Chinese and Singaporean shipbuilders are roughly a third of Hyundai Heavy’s.

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  • Galaxy Note9 invitation hints at revamped stylus

    Galaxy Note9 invitation hints at revamped stylus

    Samsung Electronics is scheduled to unveil its Galaxy Note9 phablet on Aug. 9 in New York, according to an invitation the company sent to media on Thursday.

    The unpacking event for the next flagship smartphone will take place at 11 a.m. local time on Aug. 9, or midnight on Aug. 10 in Korea, at the Barclays Center in Brooklyn, New York. The showcase will also be livestreamed on the Samsung website.

    Unlike previous years, Samsung opted not to include a catchphrase for the new model on the invitation – the Note8 missive came with the slogan “Do bigger things” – instead showing a magnified image of the button on the Note series’ signature S Pen stylus in gold on a blue background.

    The teaser video released with the invitation confirms that the button is on the S Pen, indicating that the new stylus will have enhanced features.

    Some early reports speculate that Samsung has added Bluetooth to the stylus, while other rumors guess that the pen will include a microphone to allow users to make phone calls. The button could be used for capturing images or video on the phone.

    According to a series of leaks, the Note9 has a 6.4-inch super AMOLED display – even bigger than the Note8’s 6.3 inches and S9+’s 6.2 inches. Aside from the increased size, there are few rumors suggesting any other dramatic changes to the phone itself, implying that the revamped S Pen could be the most revolutionary feature in the new device.

    The event for the Note9 comes about two weeks earlier than the Note8, which was first showcased on Aug. 23 last year and began shipping Sept. 21.

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