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Mon, October 23, 2017 | 11:41

Biz & Tech > Light industries >

Korean companies rush to Vietnam

Korean conglomerates, including Lotte, Mirae Asset and CJ, are proactively tapping into Vietnam, attracted by the country’s rising spending power and property development projects, according to industry sources, Friday. Expectations are that Korean enterprises will continue boosting their presence in the country thanks to its attractiveness as a promising but less risky market compared to China. Disillusioned with China, which came up with prolonged retaliatory measures against Korean firms after Seoul agreed to the deployment of a U.S. missile shield, they are turning to alternative destina...

Light industries | 2017-07-28 20:56

Entrepreneur cultivates underprivileged in dining biz

In Seoul’s quaint neighborhood of Bukchon is a Spanish fine dining restaurant frequented by business tycoons and politicians. The restaurant Terreno is among Oyori Asia CEO Lee Ji-hye’s businesses to help disadvantaged women out of poverty. “Our mission is to help underprivileged women in Asia become financially independent by learning to work in the dining business,” Lee, 43...

Light industries | 2017-07-28 17:00

Why tycoons shun meeting with President?

President Moon Jae-in invited leaders of the country’s top conglomerates to Cheong Wa Dae for separate meetings on Thursday and Friday, the first time since his inauguration in May. Ten of the invited companies sent their heads, while five opted to send their deputies. In the case of business bellwether Samsung, it is understandable because its Chairman Lee Kun-hee remains bedridden after collapsing three years ago. His only son, Vice Chairman Lee Jae-yong, is behind bars, embroiled in the corruption scandal involving former President Park Geun-hye.

Light industries | 2017-07-28 16:55

Mr. Pizza chief expected to face years in jail

Mr. Pizza founder Chung Woo-hyun must have thought his wealth and social status would be long-lived before he raised public ire for mistreating his employees. Earlier this week, the prosecution indicted the ex-chairman of MPK Group for allegedly embezzling company funds worth 15 billion won ($13.4 million). MPK Group’s franchise brand is Mr. Pizza.

Light industries | 2017-07-28 16:53

BBQ bows to antitrust agency

Genesis BBQ has pledged to make public its profit margins and treat its franchisees better, bowing to mounting pressure from the nation’s antitrust agency. Korea’s largest fried chicken franchise said Thursday that it will slash the number of items its franchised stores are required to buy from headquarters and set up an ad-hoc committee to reflect the voices of franchisees i...

Light industries | 2017-07-27 16:54

Ottogi ranked with top conglomerates

Ottogi was the star in a meeting with President Moon Jae-in and the nation’s top conglomerates Thursday. Joining a banquet at Cheong Wa Dae, Ham Young-joon, chairman of the medium-sized food company, was ranked with executives from seven of the large chaebol ─ Hyundai Motor, LG, POSCO, Hanwha, Shinsegae, Doosan and CJ. Leaders of Samsung Electronics, SK, Lotte, GS, Hyundai He...

Light industries | 2017-07-27 16:00

Booyoung left out of Cheong Wa Dae meeting

Starbucks Korea blasted for 'bottle cap blended'

A Starbucks store here sold a drink containing dozens of plastic particles to a pregnant woman, the global coffee chain’s Korean unit admitted Wednesday. The particles fell into the beverage when a barista unknowingly dropped a bottle cap from a bottle of mango juice into a blender. Although Starbucks Coffee Korea said the customer accepted the company’s apology, it has come ...

Light industries | 2017-07-26 17:20

Sanofi Pasteur appoints new chief

Sanofi Pasteur Korea, the global business unit of Sanofi here, announced Wednesday the appointment of Baptiste de Clarens as general manager (GM), effective July. The new chief had built up professional expertise in the international market through managing a range of responsibilities from finance and sales to marketing and business operation. He first joined Sanofi Pasteur i...

Light industries | 2017-07-26 14:33

Economics of soju: demand rises when spending stuck in doldrums

Sales of traditional Korean distilled liquor "soju" has soared steadily in recent years as more people sought the relatively cheap alcoholic beverage over more expensive offerings amid the protracted economic slump, industry sources said Wednesday. Sales of Hite Jinro's Chamisul soju exceeded the 1 trillion won ($894 million) mark last year for the first time since its debut ...

Light industries | 2017-07-26 14:26

What's next after Ottogi?

Since medium-sized food company Ottogi is scheduled to join a meeting with President Moon Jae-in alongside the nation’s top conglomerates Thursday, market observers have begun to look for another company fulfilling its social responsibility. The administration has emphasized it will sincerely support socially responsible firms, regardless of their size, in line with Moon’s pr...

Light industries | 2017-07-26 10:21

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Lunch with Navy sailors