The Korea Times

Department stores seek marketing to secure loyal customers

Customers participate in Hyundai Department Store's environmental friendly campaign at its brand in Seoul, Oct. 12. / Courtesy of Hyundai Department StoreBy Kim Jae-heunLocal department stores are pursuing different brand marketing to acquire loyal customers amid decreasing sales due to the COVID-19 pandemic. More people are shopping online with technology making it easier to purchase almost any item with a mobile phone, and retailers need a new way to bring back customers to their stores.Hyundai Department Store is trying to kill two birds with one stone through its “Eco-friendly VIP system.”This is a program giving VIP benefits to customers who actively participate in environmentally friendly activities. The store has asked customers to drop off plastic containers or pans they no longer use at its outlets, and is encouraging selling second hand clothes and unused mobile phones at flea markets. The retailer has also asked customers to use their own cups at coffee shops and shopping bags instead of plastic ones at grocery stores, while paying with mobile phones and receiv

Nov 1, 2020By Kim Jae-heun

Department stores seek marketing to secure loyal customers

Companies

ANNIVERSARY SPECIAL Live commerce is key to future success

By Kim Jae-heunThe digitization of retail here has been pushing more and more people to shop online. Previously, people were uncomfortable with internet shopping because they were not used to paying for the product first and receiving the order a week after. Sometimes, products never arrived. People also didn't like the fact that they had to choose the right size or desired color for the item only by looking at the images online. But many of the unfavorable conditions have been improved and online shopping now gives many more benefits than shopping at a department store or supermarket.Online retailers have price competitiveness for products over brick-and-mortar stores as they do not have to pay rent. The advancement of logistics here also made delivery service faster, convincing customers to shop online.Coupang, in particular, became the top e-commerce firm here with its overnight Rocket Delivery service. This was possible because it owns the most distribution centers in the country including one in Daegu that is equivalent to the size of 46 soccer stadiums. The COVID-19 pandemic al

Nov 1, 2020By Kim Jae-heun

[ANNIVERSARY SPECIAL] Live commerce is key to future success

Companies

SK to build additional LiBS plant in Poland

A worker at SKIET's LiBS plant in Jeungpyeong, North Chungcheong Province, holds a battery separator roll in his hands, on Wednesday. / Courtesy of SK InnovationBy Kim Jae-heunSK Innovation's material affiliate SK IE Technology (SKIET), led by CEO Roh Jae-sok, said it will make an additional investment into the ongoing construction of its battery separator plant in Silesia, Poland.The updated business plan is in sync with SK's efforts to expand its battery business. SK Innovation said earlier it is hoping to hold SKIET's initial public offering (IPO) next year. SKIET's additional production line in Silesia will have an annual production capacity of 3.4 billion square meters of lithium-ion battery separators (LiBS). The new facility aims to start mass production in the first quarter of 2023. It already started building a battery separator plant with the same annual production capacity in Poland that will go online in the third quarter of 2021. SKIET is a leader in the global battery separator market currently. When its production bases in Poland and China start operating, SKIET will b

Oct 29, 2020By Kim Jae-heun

SK to build additional LiBS plant in Poland

Companies

POSCO chairman calls for changes in steel industry

POSCO Chairman Choi Jeong-woo gives a keynote speech during the online conference “Steel Success Strategies” hosted by World Steel Dynamics, Tuesday. / Courtesy of POSCOBy Kim Jae-heunPOSCO Chairman Choi Jeong-woo said his company needs to prepare for a paradigm shift in car making, suggesting “new mobility” as a mega-trend in the steel industry.Choi gave a keynote speech Tuesday during World Steel Dynamics' online conference, Steel Success Strategies. His topic was “Post-COVID19 Megatrends: A New Decade.” During his 25-minute English address, Choi shared his outlook for the global steel industry amid the COVID-19 pandemic, and ongoing economic and social changes. “In the future, steel will still be the most important material in improving people's quality of life,” Choi said. The chairman picked five keywords as the mega-trends of the industry: mobility, urbanization, digitization, carbon-neutral and nationalization. In preparation for a time of new mobility, Choi said the steel industry will have to cope with the paradigm shift in the

Oct 28, 2020By Kim Jae-heun

POSCO chairman calls for changes in steel industry

Companies

Daelim to start signing apartment sale contracts on Nov. 2

Daelim's e-pyunhansesang apartment complex in Namyang New Town, Hwaseong, Gyeonggi Province / Courtesy of DaelimBy Kim Jae-heunDaelim said Wednesday it will start signing sales contracts for its e-pyunhansesang apartment complex in Namyang New Town in Hwaseong, Gyeonggi Province, starting Nov. 2. The premium apartment complex is the first to be erected in Hwaseong, and has drawn much attention as it was selected as a public housing complex in the government's bidding project participated in by private firms. The Korea Land & Housing Corporation (LH) was the host of the public bidding. Prior to the official sales, last month Daelim carried out a special provision program with its apartment complex for those in need and it set a new record collecting 258 applicants. Before this, there had been no more than 10 people signing up to purchase apartments through such a special provision system. The program is only available for newlyweds, multi-child families and those living with the elderly, under the condition that they don't have any other residential properties under their name. Th

Oct 28, 2020By Kim Jae-heun

Daelim to start signing apartment sale contracts on Nov. 2

Companies

Synergy Hill+Knowlton Strategies receives 3 global PR awards

Synergy Hill+Knowlton Strategies CEO Chung Hyun-soon, front row second from left, poses with employees at the company's Seoul office, Monday, celebrating the winning of three global PR awards this year. / Courtesy of Synergy Hill+Knowlton StrategiesBy Kim Jae-heunGlobal public relations (PR) consulting firm Synergy Hill+Knowlton Strategies (H+K), led by CEO Chung Hyun-soon, said it won three global PR awards this year.H+K won the “North Asia PR Consultancies of the Year” title at the Asia-Pacific SABRE Awards. The PR agency received the same award in 2019. The SABRE Awards is an international awards event organized by Holmes Report, which reports global PR company rankings and publishes annual reports of their performances. It was also selected as “Japan/Korea PR Consultancy of the Year” for the third consecutive year at the PR Awards Asia, organized by Campaign, and it won the “Most Innovative Public Relations Agency of the Year” at the Asia Pacific Stevie Awards. H+K won the same award hosted by the Stevie Award Committee in 2014. The biggest str

Oct 27, 2020By Kim Jae-heun

Synergy Hill+Knowlton Strategies receives 3 global PR awards

Companies

Korea Gas Corporation receives TQMS certification for full containment LNG storage tank

From left, head of Korea Gas Corporation Research Institute Kim Yong-hwan and ExxonMobil Korea CEO Sean Chung pose during the presentation ceremony of TQMS certification at the U.S. energy firm's Korean brand office in downtown Seoul, Tuesday.By Kim Jae-heunThe technology for liquefied natural gas (LNG) storage tanks developed by the Korea Gas Corporation (KOGAS) has been certified by the global energy firm Exxon Mobil. KOGAS held an online event at ExxonMobil Korea's Seoul office, to receive the certification through a video call with the U.S. firm's headquarters in Texas. The head of KOGAS Research Institute Kim Hwan-yong, ExxonMobil URC Vice President Robert Foglesong, ExxonMobil Korea CEO Jung Sung-wook and 10 others participated in the ceremony.The state-run company independently developed a design technique for in-ground membrane storage tanks in 2007. Two years later, it successfully improved the technology for the storage tank to stand above ground with full containment.Last year, KOGAS adopted the technology for the first time in the world for two LNG storage tanks on Jeju I

Oct 27, 2020By Kim Jae-heun

Korea Gas Corporation receives TQMS certification for full containment LNG storage tank

Companies

Hyundai eyes acquiring Olive Young stake

People shop at an Olive Young store in Seoul, Sept. 21. / Courtesy of CJ Olive YoungBy Kim Jae-heunOne of the top three Korean department stores, Hyundai Department Store, is rumored to be eyeing acquiring a minor stake in CJ Olive Young, the country's No.1 health and beauty product retailer. “The deal is in the very early stages and it has not been decided how many of Olive Young's shares Hyundai Department Store will buy,” an industry source said. “This is different from Olive Young's pre-IPO deal that is currently being carried out with private equity funds.”Hyundai Department Store has been expanding its business in the fashion and cosmetics fields to achieve its holding company's ultimate goal of becoming a “total life care firm.”The department store took over the country's No.1 natural cosmetics ingredients maker SK Bioland in August. “The cosmetics sector is still promising despite the saturated market. Beauty products and underwear have high margins. That is why Lotte Department has launched its own cosmetics brand,” another sou

Oct 23, 2020By Kim Jae-heun

Hyundai eyes acquiring Olive Young stake

Companies

AmorePacific-Kangwon Land ties causes stir

Kangwon Land CEO Moon Tae-kon speaks during the government audit held at the National Assembly on Yeouido, Oct. 20. / Korea Times photo by Oh Dae-keunBy Kim Jae-heunAmorePacific Chairman Suh Kyung-bae's family members including his father-in-law, Nongshim Chairman Shin Chun-ho, are under suspicion of having monopolized the procurement placement of more than half of the casino machines at Kangwon Land since 2013.According to the Rep. Ku Ja-keun of the main opposition People Power Party (PPP), Wednesday, three companies _ Taeshin Inpack, Nongshim Data System (NDS) and KGS _ received preferential treatment from the state-owned casino operator. Taeshin is a subsidiary of AmorePacific Group. Both Taeshin and KGS are run by AmorePacific chairman's cousins. Suh Myoung-hyun runs Taeshin and Suh Jun-mo operates KGS, while NDS is an affiliate of Nongshim Group owned by Shin. The three regularly bid for supplying gambling machine equipment but they often submitted their proposals after the deadline and some of the proposals even contained false information. NDS, in particular, placed a tender f

Oct 22, 2020By Kim Jae-heun

AmorePacific-Kangwon Land ties causes stir

Foreign Affairs

Chinese logistics firms suspend delivery service for BTS products

BTS / Korea time fileBy Kim Jae-heunNot even a day after China's fifth largest logistics company Yunda Express announced it will halt the delivery of products related to BTS, two more companies, YTO Express and ZTO Express, have also joined the boycott products related to the K-pop superstars. Such measures were taken after BTS rapper RM made a remark on the Korean War at the Van Fleet Award ceremony held online on Oct. 7.RM mentioned the U.S. in the award acceptance speech, saying, “We will remember the history of pain that our two nations shared together and the sacrifices of the countless men and women.”Chinese internet users argued that BTS ignored Chinese soldiers' noble sacrifices by emphasizing the words “two nations” which referred to South Korea and the United States. All three logistics firms imputed the General Administration of Customs of China for their “inevitable” actions. ZTO Express's post about the refusal of BTS-related goods on its Weibo account / Screen captured from WeiboZTO Express posted a notification on its Weibo account s

Oct 21, 2020By Kim Jae-heun

Kim Jae-heun

Read more

Department stores seek marketing to secure loyal customers

ANNIVERSARY SPECIAL Live commerce is key to future success

SK to build additional LiBS plant in Poland

POSCO chairman calls for changes in steel industry

Daelim to start signing apartment sale contracts on Nov. 2

Synergy Hill+Knowlton Strategies receives 3 global PR awards

Korea Gas Corporation receives TQMS certification for full containment LNG storage tank

Hyundai eyes acquiring Olive Young stake

AmorePacific-Kangwon Land ties causes stir

Chinese logistics firms suspend delivery service for BTS products

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