The Korea Times

Japan presence affects agencies‘ shares

By Kwon Mee-yoo K-pop boy band TVXQ is on an 11-city, 26-concert tour in Japan that started February and runs through April. It is expected to draw some 550,000 screaming devoted fans. Fueling popularity there and in anticipation of the upcoming tour, the band will also release new Japanese single "Still" on Wednesday. The songs, albums, concerts and idolization of the group appear to directly influence the share prices of its agency SM Entertainment and every move is closely followed by investors. This applies to other bands as well. Advancing into the Japanese market has a big impact on the share prices of Korean entertainment companies. "Japan is the biggest overseas market for K-pop, but it is now expanding to Europe and America and this will add momentum to entertainment stocks," Lee Hyun-jung, an analyst at SK Securities said. "However, the agencies need to reduce risk by diversifying their artist portfolios to safeguard against possible damage to the reputation of a specific singer or band." SM was the first big entertainment agency to be listed on the Kore

Mar 12, 2012By Kwon Mee-yoo

Companies

Budget cosmetic brands lure customers with big sales

By Kwon Mee-yoo Stores of cosmetics brands Missha, Etude House, The Face Shop, Holika Holika and The Saem were crowded with frugal customers who came to shop during a weekend sale. The brands offered discounts of up to 30 percent to attract customers in the sluggish economy. “Where can I find the purple bottle?” Park, a customer who came to buy Missha’s Night Repair Science Activator Ampoule, nicknamed “the purple bottle,” Saturday evening had to go home empty-handed since the item had sold out. “I couldn’t find the product by myself, so I asked the clerk to help me. But she said it was sold out at the shop and other nearby branches of Missha,” she said. The Night Repair Science Activator Ampoule (42,000 won) is an obvious copy of Estee Lauder’s 150,000 won Advanced Night Repair. Advertisements comparing the two serums immediately excited curiosity about Missha’s product and sales picked up. With a 30-percent discount, the night serum was priced at around 29,000 won and sold like hot cakes Saturday. “I heard about the purple bottle and it was worth buying especially wi

Mar 11, 2012By Kwon Mee-yoo

Companies

Famous faces linked to higher costs

Consumers weary over star-focused marketing wars between clothing brands By Kwon Mee-yoo Actor Kim Soo-hyun, who currently plays a gentle king in the hit TV drama "Moon Embracing the Sun," is advertising Bean Pole Outdoor and joined a horde of entertainers promoting outdoor clothing brands. The new line has been launched by Cheil Industries and a Bean Pole Outdoor spokeswoman said, "Kim’s image is suitable with the concept of Bean Pole Outdoor, which aims to create sophisticated urban-style outdoor clothing." Top stars are now competing for spots to make commercials for outdoor clothing brands. Heartthrob actor Zo In-sung, who won acclaim as star of the hit 2004 television series, “Something Happened in Bali,” and starred in the 2008 period fantasy movie, “A frozen flower,” models for Black Yak. Won Bin, who has starred in hit movies such as “Man from Nowhere” in 2010 and “Mother” in 2009, represents K2. Lee Min-ho, who played Gu Jun-pyo in the hit TV series “Boys Over Flowers,” and Girls' Generation's Yuna represent Eider. Boy bands 2PM and Big Bang model for NEPA a

Mar 9, 2012By Kwon Mee-yoo

Companies

Missha enlists help of painter to give products artistic touch

By Kwon Mee-yoo Missha's new spring collection portrays a woman with curly pink hair and colorful glasses with butterflies flying around her. The drawing on the case of the cosmetics company’s new “What a Lovely Moment” line is attracting interest from customers. The picture is ``Sealed Smile’’ by emerging artist Kim Ji-hee with whom Missha, a leading beauty brand owned by Able C&C, has launched its 2012 spring/summer collection this month. The Seoul-based cosmetics maker said Wednesday that that its new artistic works will be a big hit thanks to the fame of 28-year-old Kim, known for her portraits of young women in big glasses and braces to represent the inconsistency of contemporary people who hide something behind masks and feel lonely. "Young, hip people want unique, collectible items. We decided to work with Kim not only because she is a young talent leading the Korean pop art scene but also because her colorful paintings go well with our image of spring makeup," Kim Sun-a of Missha said. Missha's new spring look is in two color themes of "Lovely Natural" and "

Mar 7, 2012By Kwon Mee-yoo

Companies

’Luxury funds’ ahead in earning rates

By Kwon Mee-yoo Despite the global economic slump, the luxury industry remained undiminished. In fact, the lucrative sector saw growth as did its stock prices and investment from funds. Although the sluggish economic conditions across the globe have caused a sharp drop in fund returns, “luxury funds,” which mainly invest in luxury brands, have kept on rolling in an impressive manner. FnGuide, a domestic securities information service provider, said Wednesday that mutual funds investing in top luxury brands marked the highest earnings rate among 33 types. According to FnGuide, funds investing in high-end outfits chalked up a 13.1 percent return last year. The profit rate is even higher for long-term investments ― 48.5 percent for two years and 136.4 percent for three years. Their portfolios include the LVMH group, the world's largest luxury goods company that manages Louis Vuitton, Fendi, Bulgari and some 60 other brands, and Richemont, which owns Cartier and Montblanc. Other notable high-end entities in the portfolios are Christian Dior, Tiffany, Swatch and Coach.

Mar 7, 2012By Kwon Mee-yoo

Companies

e-books at last making it into everyday life

By Kwon Mee-yoo Kim Sang-hyeon, an office worker in his 30s, reads books on his e-book reader on his way to and from work. He has some 20 stored in digital format on the mobile device with subjects ranging from marketing and self-improvement to best-selling novels. Up until a month ago he read newspapers or got the news on his smartphone, but he bought an e-book reader out of curiosity and it is slowly changing his habits. "I sometimes read applications on my smartphone, but this wasn't suitable when reading for a long time. When I saw this 99,000 won e-book reader, I thought it was worth a try," he said. Kim likes how it is lightweight and has a long-lasting battery. "I can have more than one hundred books at my fingertips and the battery lasts for several weeks," he said. "I am also attracted to the charm of e-ink. It is somewhere between analog and digital and I am more absorbed while reading than when using my smartphone." What Kim bought is the Story K, a 99,000 won e-book reader co-developed by Kyobo Book Center and iriver. iriver said that it has sold about

Mar 6, 2012By Kwon Mee-yoo

Companies

Inflation puts households under tough test

Increasing complaints over school uniform prices highlight squeeze on family budgets By Kwon Mee-yoo For families with school-aged children, March has always been a dreadful one for their budgets. But with inflationary pressures now greater than any time in recent memory, parents say they feel stretched like never before. Lee Mi-jung, a 45-year mother of a high school freshman, just spent 400,000 won on her child’s school uniforms alone. ``The price rise has been more dramatic than I had imagined. I considered buying secondhand school uniforms, but instead bought them at a discount through a bulk purchase,’’ she said. ``I will also have to spend another 400,000 won on tuition and textbooks for each semester. It’s a lot of money but I do want to provide the best for my child when it comes to education.’’ A set of school uniforms for spring and winter generally consists of jackets, shirts, vests, cardigans and skirts or pants, and cost around 300,000 won when buying the products of major brands like Ivy Club and Smart. Add spare shirts, pants and skirts to the list a

Mar 5, 2012By Kwon Mee-yoo

Companies

Cheil unit bashed after copying rival’s socks

By Kwon Mee-yoo New domestic fast-fashion brand 8Seconds is in trouble within a week after its launch by copying the design of socks produced by a smaller competitor. The specialty retailer of private label apparel (SPA) brand is an ambitious project by Cheil Industries Executive Vice President Lee Seo-hyun, the youngest daughter of Samsung Electronics Chairman Lee Kun-hee. It aims to challenge the global market by providing clothing cheaper than Zara but trendier than Uniqlo. However, the sock fiasco has added the company to a growing pile of business projects run by corporate scions that are getting a bad rap. When 8Seconds opened its first stores in Garosu-gil and Myeong-dong last week, people lined up to get in the store and see the new line. However, expectations for 8Seconds were shattered as Coevel, a small designer brand specializing in accessories such as socks and belts, claimed that Cheil Industries' SPA copied its sock design, Tuesday. Coevel said: "Some copycats are bringing dishonor to the Korean fashion industry. We want to let all the people know a

Feb 29, 2012By Kwon Mee-yoo

Companies

Cosmetics importers rip off customers

By Kwon Mee-yoo Importers of foreign cosmetics brands have been ripping off consumers by raising the prices of products faster than the increase in costs, industry figures show. The high prices have trickled down to domestic beauty products to add assault to shoppers’ injury and raise questions whether the Fair Trade Commission (FTC) has been too lax on its watch. According to the Korea Food and Drug Administration (KFDA), the price of a 50-milliliter bottle of Estee Lauder Advanced Night Repair cleared at customs is $5.58, or 6,300 won. However, the product was introduced at 155,000 won to consumers, some 20-fold the price at entry. Other cosmetics also have a large gap between the imported price and the retail price. SK-II Cellumination Essence was imported for 74,000 won ($65.6), but sold at 198,000 won, while Lancome Genifique Eye Cream was imported for 9,000 won ($7.80) and sold at 99,000 won. Sisley's Sisleya Eye and Lip Contour Cream, which is sold at 190,000 won, was imported for 31,000 won ($27). Civic organizations Consumers Korea compared the prices of 14 major

Feb 29, 2012By Kwon Mee-yoo

Companies

KB Card introduces customized service

By Kwon Mee-yoo KB Kookmin Card has launched a new type of card service aimed at providing individualized services and benefits. KB Kookmin Card launched "Hyedam Card" Tuesday marking the first anniversary of the credit card firm's separation from Kookmin Bank. The name of the card comes from Korean word "hyetaek," which means benefit. As the name indicates, the credit card allows its customers to choose the type of service, discount rate and amount as they wish. "We expect this card will prevent the inconveniences of possessing several cards to receive the benefits of each card," a KB Kookmin Card spokesman said. The card provides basic service as well as 12 kinds of lifestyle services of which customers can choose what they like. They can enjoy all the benefits with a single card and add or subtract services to tailor to their lifestyle needs. Te basic service for all card users include 5-10 percent discounts in four sectors ― public transportation fees, communication expenses, necessities stores and tax or utility bills ― depending on the amount spent in the pr

Feb 28, 2012By Kwon Mee-yoo

Kwon Mee-yoo

Read more

Japan presence affects agencies‘ shares

Budget cosmetic brands lure customers with big sales

Famous faces linked to higher costs

Missha enlists help of painter to give products artistic touch

’Luxury funds’ ahead in earning rates

e-books at last making it into everyday life

Inflation puts households under tough test

Cheil unit bashed after copying rival’s socks

Cosmetics importers rip off customers

KB Card introduces customized service

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