Tag: luxury

  • Vietnam liquor maker makes a loss, 4 years in a row

    Vietnam liquor maker makes a loss, 4 years in a row

    Nation’s leading liquor maker Halico has reported a loss of VND75 billion ($3.22 million) for 2018. With Vietnamese consumers moving towards foreign brands, the 120-year-old liquor maker, in which Vietnam’s second biggest brewery Habeco has 54.29 percent ownership and British multinational Diageo holds a 45.5 percent stake, Halico has reported losses for the fourth year in a row.

    It reported a loss of over VND20 billion ($859,780) in the fourth quarter of 2018, raising the total annual loss to VND75 billion ($3.22 million).

    In its annual statement for 2018, Halico’s board expressed doubts that the company can continue operating, with Vietnamese consumer tastes shifting to imported beer and foreign alcoholic products. It conceded that it has failed to capture younger consumer segments.

    In addition, Diageo has been unable to negotiate any substantial supply contracts with foreign partners, so the company has not been able to do well in exports.

    Furthermore, management costs have risen to over 60 percent of revenue. Despite a 30 percent rise in sales in 2018 (VND155 billion or $6.66 million), the difference was not able to compensate for expenses incurred.

    The Hanoi Liquor Joint Stock Company was originally a Hanoi winery, founded in 1898 and equitized in 2004 with initial charter capital of nearly VND50 billion ($2.15 million).

    In early 2011, Diageo Plc, a British multinational alcoholic beverages company, acquired an 18.67 percent stake in Halico for a total of VND800 billion ($34.4 million) from investment fund VinaCapital.

    Diageo is the world’s biggest liquor company, owning famous brands such as Johnnie Walker, Bailey and Smirnoff. It bought another 26.83 percent stake in 2012, hoping to cash in on the growing consumer market.

    Halico’s accumulated losses at the end of last year topped VND330 billion ($14.19 million), 1.6 times higher than its current charter capital at VND200 billion ($8.6 million).

  • Mercedes EV to launch in Korea

    Mercedes EV to launch in Korea

    Mercedes-Benz Korea is setting its sights on the local eco-friendly auto market with the introduction of an all-electric vehicle (EV) along with hybrid offerings this year. The Korean unit of the German brand announced Thursday that it will be introducing 14 new models to the local market this year including the EQC, the first model under its electric EQ brand, as well as four plug-in hybrid EVs at a New Year’s press conference at the Hotel Shilla in central Seoul.

    “2019 will be the year of the EQ,” said Dimitris Psillakis, CEO of Mercedes-Benz Korea. “We will do our utmost to provide the best products and services in the upcoming era of future mobility.”

    The premium electric SUV EQC, unveiled globally last September, is the German automaker’s current flagship EV. The promised hybrid models will range from SUVs to sedans, according to the automaker.

    Along with its entry into the local EV market, the German brand announced that it is also preparing its charging infrastructure.

    Mercedes-Benz Korea said EQC buyers will have access to its combined charging network, which will offer a wide range of charging stations nationwide. EQC drivers will also have access to a one-on-one concierge service that will recommend the nearest charging station to drivers.

    Mercedes-Benz Korea’s push into eco-friendly vehicles comes as it was embroiled in controversy last year regarding its vehicles’ emissions certifications.

    Last month, the automaker said it will appeal a court decision after it was found guilty of violating environmental and customs laws regarding the emissions certification process. The company was fined 2.81 billion won ($2.5 million) and an employee in charge of certifications was handed an eight-month sentence.

    Regarding the legal action, Psillakis promised that the company is following up on the newest regulations.

    “We have a very different changing and toughening regulatory environment around us,” said Psillakis. “We place processes to safeguard so that we can adapt to the new regulations as fast as possible.”

    The company also addressed concerns surrounding recall plans for its vehicles equipped with faulty Takata airbags, saying that it is planning a mass recall in the second quarter of this year of around 30,000 vehicles.

    The German automaker was the best-selling imported brand last year, selling 70,798 vehicles in the country.

    With last year’s sales, the Korean market is the fifth-largest market for the brand after China, the United States, Germany and Britain.

  • Hyundai develops safer airbag deployment system

    Hyundai develops safer airbag deployment system

    Hyundai Motor Group, Korea’s biggest carmaker by sales, said Monday it has developed a safer airbag deployment system to better protect people from multiple crashes. The advanced airbag system immediately prepares for additional crashes once it recognizes an initial collision, in cases where the collision is not serious enough to warrant a deployment, the conglomerate said in a statement.

    “If the first collision is a minor one, but the vehicle continues on and collides with something else, such as trees or street lamps, the airbag system optimizes itself to prepare for additional crashes,” a company spokesman explained to reporters over the phone.

    It is the first time a Korean carmaker has developed such a multi-crash airbag system, the statement said.

    Existing airbag systems do not inflate once they determine the initial collision is minor, even if subsequent impacts involve greater force and can lead to serious injury, it said.

  • Calvin Klein seeking a New Creative Lead

    Calvin Klein seeking a New Creative Lead

    Less than a month after announcing the departure of Raf Simons, Calvin Klein is looking for a new creative lead, said a person with knowledge of the business. Chief executive officer Steve Shiffman said in a separate statement on Thursday that the brand will close its 654 Madison Avenue flagship store, which Simons renovated in 2017, relaunch its ready-to-wear line and consolidate some teams in North America.

    Shiffman said the brand will relaunch the 205W39NYC ready-to-wear line under a different name and a new creative direction. He kept the details vague, stating that the business will be “designed to evolve the traditional luxury fashion model by connecting with a diverse range of communities, offering an unexpected mix of influences and moving at an accelerated pace.”

    Some had speculated after Simons’ departure that Calvin Klein would not hire another creative face of the company, but instead take a collaboration approach similar to Moncler‘s recent strategy. But the search for a new design lead indicates otherwise.

    The source with knowledge of the business also said that several of Simons’ longtime collaborators have exited the business, specifically Pieter Mulier, creative director, and Matthieu Blazy, the design director of women’s ready-to-wear. Michelle Kessler-Sanders, president of the 205W39NYC business, will stay on in an executive position.

    Shiffman’s statement also announced the formation of a new consumer marketing division focused on consumer engagement and shopper experience. According to the source, this department is led by chief marketing officer Marie Gulin-Merle.

    Calvin Klein in North America will see further changes: Shiffman said the brand will consolidate the men’s sportswear and the Jeans businesses, and also integrate the retail and e-commerce teams.

    “Our industry is witnessing a historic transformation in consumer behavior which presents a significant growth opportunity as we look to grow the brand to $12 billion in global retail sales over the next few years,” said Shiffman.

  • Rihanna to launch a fashion house with LVMH

    Rihanna to launch a fashion house with LVMH

    WWD reported that, according to multiple sources, the Rihanna is working with French luxury conglomerate LVMH to launch a luxury house under her name. It would be the first time LVMH has launched a brand new label since Christian Lacroix in 1987. No word on an official launch date, but perhaps that is why Rihanna is suing her father now over the ‘Fenty’ name as he could be holding up proceedings with LVMH.

    The pairing makes sense. In 2015, Rihanna appeared in Christian Dior’s “Secret Garden IV” ad shot at Versailles, the first Black woman to front a campaign for the French fashion house. She also created a line of Dior sunglasses in 2016.

    What is more, she launched Fenty Beauty by Rihanna under the Kendo, LVMH’s incubator to produce products that ultimately end up in Sephora, or in this case, change the way beauty products are marketed.

    WWD reported that Fenty Beauty made close to $100 in a matter of weeks — a great sign for Rihanna’s impending luxury offering.

    Sources tell WWD Rihanna is a “hands-on type” who is very involved in the range’s product development (she was reportedly said to be the same way while creating for Puma and Savage x Fenty).

    It is believed LVMH started forming a team six months ago, handpicking employees from Louis Vuitton and Celine to work on the fashion house’s ready-to-wear, leather goods and accessories. And hold on to your Fenty x Savage hats here, the line is to be released in tandem with her ninth album expected to drop later this year.

    We already cannot wait to be fresh off of Rihanna’s runway.

  • Tiffany sales reported drops

    Tiffany sales reported drops

    US jewellery retailer Tiffany & Co has reported a 1 per cent drop in worldwide net sales and 2 per cent drop in comparable sales for the two months to December 31. While Tiffany sales grew strongly in China over the holiday period, softening in other markets that are more dependent on foreign tourist spending led total net sales across Asia Pacific to fall 3 per cent from the prior corresponding period to US$226 million. Comparable sales in the region fell 4 per cent.

    “With continued strong sales growth in mainland China (by a double-digit percentage), solid results in Japan and healthy growth in e-commerce sales, overall holiday sales results came in short of our expectations which had called for modest year-over-year growth,” Tiffany CEO Alessandro Bogliolo said.

    “We attribute the difference partly to lower sales to foreign (primarily Chinese) tourists globally, and to softening demand attributed to local customers in the Americas and Europe, which we believe may have been influenced more than expected by external events, uncertainties and market volatilities.”

    Total sales across the Americas declined 1 per cent to US$514 million, while Europe dropped 4 per cent to US$132 million.

    Japan, however, saw positive growth over the period of 4 per cent – increasing to US$150 million, attributed to higher spending by local customers.

    Based on these results, the business now expects worldwide net sales for fiscal 2018 will increase by 6 to 7 per cent compared to the prior year, as opposed to the high-single digits previously expected.

    “Now the focus is to grow to new heights,” Bogliolo said. “To this purpose, we will continue to pursue the six key strategic priorities we introduced earlier in 2018 … which will require our ongoing effort and commitment for years to come.

    “We acknowledge that external pressures, difficult year-over-year sales comparisons and annualised internal spending are expected to have some negative effects on fiscal 2019 results, mostly in the first half of the year, but we believe Tiffany is on a solid path for improved sales, margins, earnings and cash flow generation over the long term.”

  • Vans, The North Face boost parents sales

    Vans, The North Face boost parents sales

    VF Brands has posted strong third-quarter results, with balanced growth across its entire portfolio. The US-listed apparel company, which owns and operates Vans, The North Face, Timberland, Wrangler and Lee, among others, says sales grew 8 per cent in the third quarter, to US$3.9 billion. Its share price soared 12.39 per cent after the announcement on Friday (US time) to $82.47.

    Vans sales soared 25 per cent and The North Face’s, by 14 per cent.

    “VF’s third-quarter results were fuelled by strong growth in our largest brands and balanced growth across the core dimensions of our portfolio,” said VF Brands president, chairman and CEO Steve Rendle.

    Revenue from VF’s ‘active’ segment, which includes brands such as Vans and JanSport, increased 16 per cent, while revenue from its ‘outdoor’ segment, which includes brands such as The North Face and Timberland, increased 11 per cent.

    VF reported $592 million in operating income, 22 per cent up on the prior year. Net income for the period was $463 million, a 613 per cent increase over the $90 million loss posted in the same period last year.

    “Based on the strength of our third-quarter performance and the growth trajectory we see for the remainder of fiscal 2019, we are again increasing our full year outlook,” Rendle said.

    The business expects revenue from its ‘work’ segment, which includes brands such as Dickies, is expected to increase 39 per cent, while revenue from its ‘active’ segment is expected to increase 16 per cent and revenue from its ‘outdoor’ segment is expected to grow 8 per cent.

    VF expects revenue from its ‘jeans’ segment, which includes brands such as Wrangler and Lee, to decline 3 per cent, while direct-to-consumer revenue is expected to increase 13 per cent, and digital revenue is set to increase by more than 30 per cent.

  • Hyundai takes top honors at Nactoys

    Hyundai takes top honors at Nactoys

    Hyundai Motor Group took home the top prizes in two of three categories at the 2019 North American Car, Utility and Truck of the Year Awards (Nactoy), the company said last Tuesday. It is the first time a Korean carmaker has won in two categories at the annual awards. Hyundai Motor’s Kona and Kona Electric crossover utility vehicle won in the utility category, while the G70 sedan sold under the carmaker’s Genesis brand won in the car category.

    A jury consisting of journalists and analysts based in the United States and Canada voted for the winners of each category, choosing between three finalists. This year, 54 journalists from print, online and broadcast media participated in the assessment.

    The award organizer said in a press release that jurors voted on the finalists based on segment leadership, innovation, design, safety, handling, driver satisfaction and value for the dollar.

    Hyundai’s Kona competed with Honda’s Acura RDX and the Jaguar I-Pace.

    “The Kona Electric is the first mass-market electric car that truly works for the mass market,” said Jamie Page Deaton, executive editor at U.S. News & World Report Best Cars. “A livable EV range, affordable price and practical cabin combine with lively driving dynamics to make the Kona EV a true pleasure.”

    The G70 competed with the Honda Insight and Volvo S60. The Genesis-brand was evaluated to exceed luxury segment mainstays like the BMW 3 Series, Audi A4 and Mercedes-Benz C-Class in driver engagement and value for the dollar.

    The last Hyundai car to win top honors at the awards was the Avante sedan, sold as the Elantra in North America, in 2012.

    Previously the award only had two categories – car and truck – however, utility vehicles earned an independent category from 2017, considering the rising popularity of the segment.

    A Hyundai spokesperson said it will market the Kona and G70 more actively in the North American market with boosted presence from the awards.

    The winners were announced at the North American International Auto Show in Detroit on Monday. Hyundai also introduced its Veloster N TCR high-performance racing car at the show, while Kia Motors premiered its Telluride SUV. The SUV will only be sold in the North American market.

  • ‘KAWS:HOLIDAY’ lands in Taipei

    ‘KAWS:HOLIDAY’ lands in Taipei

    After KAWS announced that a massive 36-meter-long COMPANION piece would be making its debut in Taipei, the collaborative project with creative studio AllRightsReserved has finally been revealed to the public. The largest sculptural work by the artist to date, KAWS:HOLIDAY depicts the recognizable COMPANION character in a seated position, overlooking Liberty Square in front of the famed Chiang Kai-shek Memorial Hall.

    Teaming up with Singaporean singer JJ Lin’s JFJ Productions, the exhibition kicked off with a grand opening event Friday evening, coupled with an exclusive merch release.

    The items include a range of vinyl figurines, ceramic plates, tees and tote bags that are available online and offline at the exhibition’s pop up shop.

  • The Seiko Dream Square opens in Tokyo

    The Seiko Dream Square opens in Tokyo

    Seiko Watch Corporation has opened an interactive hub of its watchmaking to allow visitors to “look, feel and experience” the rich history and heritage of the brand. The Seiko Dream Square is a new four-story retail complex in the heart of the watch brand’s birthplace in Tokyo’s Ginza district and showcases its heritage of watchmaking since 1881 with a museum, showrooms and entertainment areas.

    The aim of the new retail complex is to become a “point of destination” for visitors as well a centre for communicating the brand’s story globally said the watchmaker in a statement.

    It features a small museum on the first floor in the image of the symbolic Wako clock tower’s interior, a historic symbol of Seiko and a proud landmark of Ginza in which Seiko founder Kintaro Hattori placed its headquarters.

    On the other levels, visitors can shop Seiko’s leading collections, Prospex, Presage, Lukia, and Astron, with each displayed in a “refined setting” based on the particular brand’s unique identity.

    Commenting on the opening, Seiko Watch Corporation chairman and chief executive, Shinji Hattori said: “A Seiko watch is not merely an industrial product. It can be a partner to one’s life journey and story. It is our dream that Seiko Dream Square be the place where visitors from around the world would want to find this particular partner.”

  • How to be a successful KOL in China?

    How to be a successful KOL in China?

    Why luxury brands willing to expand in China seems to never get enough of  so-called KOLs (key opinion leaders) Tao Liang, nickname “Mr bags”, is a graduate of the University of Southern California and Columbia University. Although he is only 26-year-old, he has already become one of the most successful digital influencers in China, in terms of the ability to drive sales.

    People call him Mr Bags because Liang has an unapologetic love for handbags. So, he has worked on capsule collections with different luxury brands such as Givenchy, Longchamp and Montblanc, boasting a huge following on WeChat and Weibo, which are two of the largest social media networks in China. And he also knows how to sell them to his over 3.5 million readers on China’s biggest social media platform Weibo and more than 850,000 followers on WeChat, a microblogging messaging app.

    In just six minutes, Liang helped Tod’s sell 3.24 million RMB worth of handbags on his new Mini Program shop within WeChat, called “Baoshop.” The second collaboration between the Beijing-based fashion blogger and Tod’s, 500 pieces of the limited-edition “Wave” backpacks were created — double the amount from last year’s capsule collection.

    But how did Liang become a sort of “bag whisperer”? He says that when he was studying in the universities in Los Angeles and New York, he fell in love with luxury bags and loved going on shopping sprees with his friends. It didn’t take long for him to realize that he could turn his passion for handbags into a full-time job but even after he started getting some traction while still in the US, his parents were not entirely happy with his career choice. “Only after I started working with big brands and celebrities like Fan Bingbing they thought that perhaps this was a real business,” he says.

    One issue that often comes up with KOLs is authenticity. When you work with different brands, how do you maintain your integrity without alienating your fans, who trust your opinions to be genuine and unbiased? “This is key for me and I really try our best to maintain that,” says Liang. “One of my advantages is that until not long ago I was based in the US so I wasn’t exposed to all the brand partnerships and advertising that the KOLs were doing in China so my content was 100 per cent pure editorial, but then I started working with brands and get first hand information while also giving my followers the right information and guidance.”

    So how does Mr Bags, a young man with an innate fashion sense and an encyclopedic knowledge of handbags, guide his followers and win their trust? He only works with brands that his fans “naturally love” and turns down offers all the time. Liang’s fan base is mostly female, and he feels that being a man is not a hindrance. On the contrary, by virtue of being a guy, he is able to provide useful and unbiased advice.

    “My name is Mr Bags and lots of people find this name interesting but also confusing because generally bags are for women,” he says. “Normally when girls shop for a bag they don’t think too much and buy it right away, on impulse, so I help them think more rationally. For example, I categorize all the bags and tell them which ones are the classic pieces and the ones that have more staying power and the most iconic ones so I provide some logic behind their purchases. I think that as a guy I’m more objective and I can give them useful tips. I tell them that if you buy a bag that you can use in your life and enjoy it then you feel that your money is well spent and worth it.”

    Liang believes that his editorial work must come first.“Many people think that KOLs just have fancy lives and go everywhere for fun but in China we have so many channels, like WeChat and Weibo, so it’s really a lot,” he says. “I was just updating my channels on the way here. Editorial content is more important for me; 60 per cent of what we do is still editorial.”

    Achieving the right balance between authentic content and remunerative ad-driven projects is the key factor for being a successful KOL, something that is not always as easy as it seems but Liang has already mastered so far.

  • Shilla Vietnam to open hotel at Da Nang

    Shilla Vietnam to open hotel at Da Nang

    Hotel Shilla announced Tuesday that it will actively begin expanding its brand abroad this year, the first new location being a resort in Da Nang, Vietnam. “Starting with Da Nang, we hope to expand our brand to more than 10 overseas locations in Southeast Asia, United States and China,” the hotel company said in a statement. Hotel Shilla is Samsung’s hotel and duty-free business arm. The 46-year-old company currently operates The Shilla Seoul and The Shilla Jeju.

    It also runs 11 business hotels under its Shilla Stay name.

    The company said that it will expand overseas through hotel management agreements with local companies, a common structuring for hotel chains. This means the local partner will own the hotel building while Shilla will operate the business. For Shilla, this minimizes investment risks.

    Shilla’s new Da Nang hotel – slated to open this year under the brand-new Shilla Monogram name – will be a nine-floor building with 300 rooms. The hotel will be located on Non Nuoc Beach in Da Nang, a popular destination for Korean tourists.

    The hotel, still under construction, will feature an outdoor pool, restaurants and bars. Every room will be equipped with a balcony.

    Hotel Shilla also announced that it is preparing to open a 200-room premium business hotel in San Jose in Silicon Valley, California, under its Shilla Stay brand by 2021.

    “We hope to continue raising more revenues abroad by expanding our overseas hotel business,” said a Hotel Shilla spokesperson.

    Some 20 percent of the company’s total revenues today, or 1 trillion won ($892.5 million), come from abroad. Hotel Shilla operates several duty-free stores in domestic and foreign airports, including locations at three of Asia’s busiest airports: Singapore’s Changi Airport, Hong Kong International Airport and Incheon International Airport.

    Hotel Shilla has been operating Jinji Lake Shilla Hotel in Suzhou, China, since 2006. It was the first overseas hotel managed by the company.

    Following Tuesday’s announcement, Hotel Shilla’s stock prices closed at 76,100 won on Tuesday, 1.33 percent higher than Monday.

    As for upcoming domestic projects, Hotel Shilla is planning to open a hotel themed after hanok, or traditional Korean houses, by 2023 in central Seoul.

    If the company receives approval to build the new hotel from domestic land authorities, it will become the first to operate such a hotel in Seoul.

  • Hennessy celebrates Chinese New Year by opening pop up store at Changi

    Hennessy celebrates Chinese New Year by opening pop up store at Changi

    Moet Hennessy is partnering with DFS Group in Hennessy pop-up store a Changi Airport celebrate Chinese New Year. The store, a Travel Retail Concept Exclusive, features interactive consumer experiences and will remain open until February 19. Located at the Terminal 3 Departure Hall, the pop-up experience, the only one of its kind globally. It invites travellers to “engage in a joyous reunion through experiences such as interactive digital games, Hennessy’s bottle engraving service, limited edition offers, as well as exclusive gifts with purchase,” the companies said in a statement.

    Travellers are also welcomed to test the Firecracker, a unique Hennessy cocktail, which will be available exclusively at the pop up.

    Hennessy collaborated with contemporary artist Guang-Yu Zhang to create an art piece centrestage in the pop up. The design, A Joyous Reunion, celebrates the love for nature, mastery of savoir-faire and spirit of conquest.

    Gallery of the pop up stores (6 images) :

    “Hennessy shares the dream of Harmony, from vine to grape to distillation to glass, from nature to people, Hennessy takes the best of nature and offers it to the Chinese people to celebrate this special moment,” said Guang-Yu Zhang.

    The also features on the limited-edition packaging that has been created for Hennessy XO, Hennessy VSOP and James Hennessy products.

    After purchase, customers at Changi are invited to use Hennessy’s first-ever engraving station at the pop-up store to add a personalised messages to their bottles.

    “At Hennessy, we are honoured to have collaborated with a world-class artist to deliver these beautiful, one-of-a-kind Chinese New Year limited-editions for our travellers,” said Moet Hennessy MD travel retail Asia Pacific, Vanessa Widmann.

    A rising star in the international art world, Guang-Yu Zhang grew up in Shanghai and graduated from Central Saint Martins College in London in 2012. In 2014, he was selected for the International Emerging Artists Exhibition at the Saatchi Gallery in London; that year, he also exhibited his work at the Tate Britain Museum in London. He is known for his unique fusion of Eastern and Western cultures and traditional and contemporary techniques.

  • App-store spending to surpass US$120 billion this year

    App-store spending to surpass US$120 billion this year

    App-store spending by consumers is expected to surpass more than US$120 billion this year according to global mobile data and analytics provider App Annie. The firm’s annual The State of Mobile 2019 report found consumers downloaded 194 billion apps last year, spending $101 billion in app stores and averaging three hours per day on mobile.

    Time spent in-app grew 50 per cent over the past two years, with downloads up 35 per cent over the same period. Mobile consumed 62 per cent of global digital-ad spend last year, up from 50 per cent in 2017. Sixty per cent more apps will monetise through in-app advertising this year.

    The report also found that 10 minutes of every hour spent consuming media this year will be spent streaming video on mobile – and Generation Z consumers spend 20 per cent more time in apps than the rest of the population.

    “Mobile is no longer an add-on channel – it is the engine fueling digital transformation,” said App Annie CEO Theodore Krantz.

    The report looks at macrotrends, app rankings, and a number of industries including mobile marketing, shopping and retail, travel, gaming, social networking, media and entertainment, banking and fintech, video streaming, dating and more.

    The firm’s global marketing and insights EVP Danielle Levitas said consumers spending on apps globally last year was larger than the global live and recorded music industry and double the size of the global sneaker market.

    “Mobile experiences are so central to how we live, work and play and with consumers spending three hours a day on mobile, it’s clear how vital this platform is for all businesses in 2019 and beyond.”

  • Korea Grand Sale gears up for kick off

    Korea Grand Sale gears up for kick off

    Korean tourism authorities were set on January 14 for the official opening of the Korea Grand Sale, an annual event for foreign shoppers with events, promotions and sales across the country. This year’s event, jointly hosted by the Ministry of Culture, Sports and Tourism and the Visit Korea Committee, will be held from January 17 until February 28.

    The theme of this year is “Travel, Taste, Touch,” and will offer benefits of varying degrees from 51,497 businesses. According to the ministry, around 850 enterprises will hold sales, including discounts of up to 97 percent on flights to Korea from airlines including Air Seoul.

    Up to 25 percent discount will be provided at eateries at the top-notch hotels across the country.

    According to a survey on what foreigners did while visiting Korea conducted by the ministry, 72.5 percent of all foreign visitors in 2017 said shopping, while 58.2 percent said eating and tourism.

    A tourism program featuring restaurants with over 50 years of history — including “Cheongjinok,” “Ureok,” “Hadongkwan,” “Joseonok” and “Yeolchajib” will be held with Korean celebrity chefs as guides. Other packages include Korean food and temple food for foriengers, and ski packages.

    For those who need assistance, a welcome center will be open throughout the festival period at Cheonggye Plaza in Jongno-gu, Seoul from 12 p.m. to 8 p.m. Tour guides will circulate popular tourist areas like Hongdae or Dongdaemun, accompanied by interpretation services.

    A welcome booth for foreigners will operate at Incheon International Airport and Gimpo International Airport from February 1-8, to coincide with the Chinese and Korean Lunar New Year holidays.

    At the welcome center, Korea Tour Card will be given free to the first 50 visitors every day. The 10,000th visitor will receive a coupon for a stay at a local hotel.