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Tue, September 26, 2017 | 16:18

Biz & Tech > Light industries >

Unilever buys Korean cosmetics firm for W3 tril.

Unilever will buy Carver Korea for $2.7 billion (about 3 trillion won), the multinational consumer goods company said Tuesday. Carver, the nation’s third-largest cosmetics company is famous for its signature AHC brand. The acquisition is the largest M&A deal in the country’s cosmetics industry. The previous record was set by LG Household & Healthcare (LG H&H), which acquired ...

Light industries | 2017-09-26 16:00

Amway Korea launches new skincare product

Amway Korea’s premium skincare brand Artistry has unveiled its latest, next-generation product for consumers who want more resilient and healthier skin. The Korean unit of the U.S. multi-level marketing company began selling the Intensive Skincare Advanced Vitamin C+ Hyaluronic Acid Treatment early this month, further bolstering its product lineup. It is an upgrade of the Vit...

Light industries | 2017-09-25 16:19

Controversy rises on outsourcing

The Moon Jae-in administration has come under fire for its unfavorable view on outsourcing. The nation’s overall industries have been anxious about facing another labor risk, since the Ministry of Labor and Employment recently ordered several companies to directly hire their subcontract workers. Korean companies have already suffered from the recent rises in the minimum and base wages.

Light industries | 2017-09-25 08:00

Medytox's TV commercial hits jackpot

Medytox’s first TV commercial has been regarded as a sensation for its unique theme and format, sparking public interest in what the company does. The 30-second clip, first aired on TV broadcasters Sept. 2, is not a typical TV ad by pharmaceutical companies, most of which merely promote medicines and other medical products, according to company officials. The commercial under...

Light industries | 2017-09-24 10:56

Paris Baguette faces labor risk

Paris Baguette is facing its biggest crisis in its history as it has been ordered by the government to hire 54,000 patissiers directly, placing a heavier financial burden on Korea’s largest bakery franchise.

Light industries | 2017-09-22 15:44

Korean firms leave China in droves

Korean retailers operating in China have begun to leave the world’s second-largest economy as its economic retaliation against Seoul’s deployment of an advanced U.S. missile defense system shows no signs of abating. Lotte Group decided to sell its discount store chain in China after falling victim to Beijing’s “unreasonable” retaliatory measures. The nation's fifth-largest conglomerate recently named Goldman Sachs as the lead manger to sell its Lotte Mart stores there.

Light industries | 2017-09-20 18:37

CJ to host PGA tour on Jeju

CJ Group will use Korea’s first PGA tour event on Jeju Island next month as an opportunity to bolster its campaign to promote the country’s traditional cuisine and pop culture abroad. More than a billion golf fans worldwide are expected to watch the CJ Cup@Nine Bridges from Oct. 19 to 22. It is also expected to provide a much-needed boost to the nation’s southern resort islan...

Light industries | 2017-09-20 17:09

Airlines reducing routes to China

Korean Air is joining Asiana Airlines in reducing the number of flights to China and operating smaller planes bound for the country in line with the declining number of Chinese visitors. Korea’s six low-cost carriers have also taken similar steps amid China’s escalating economic retaliation against Seoul’s deployment of a U.S. missile defense system, which has invited a strong backlash from the world’s second-largest economy. Since March when Korea decided to deploy the U.S. anti-missile Terminal High Altitude Area Defense (THAAD) battery, Chinese authorities have instructed travel agencies ...

Light industries | 2017-09-19 10:28

Market reacts positively to Lotte's escape from China

Lotte Shopping shares rallied Friday, after the retail unit of Lotte Group confirmed it will sell its Lotte Mart outlets in China in the face of retaliatory economic measures by Beijing against Korea’s deployment of a U.S. missile defense system. The stock closed at 238,500 won, up 8.41 percent from the previous session. It started at 238,000 won, up from 220,000 won a day ea...

Light industries | 2017-09-15 16:12

Friend of 12 meerkats and other exotic animals

Kim Hyun-jeong was always fond of animals. She grew up playing with dogs and cats from a young age and never got tired of it. As she grew older, she also started to raise some exotic animals, such as meerkats and genets. But tied up with work, it later became difficult for her to spend much time with them. After trying to figure out a way to be with them and work at the same ...

Light industries | 2017-09-15 15:58

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