duty

Regulations Parliament passes bill to expand boards’ fiduciary duties

South Korea's National Assembly on Thursday passed an amendment to the Commercial Act to expand boards of directors’ fiduciary duties to minor...

Steel South Korea to levy 38% anti-dumping duties on Chinese steel products

South Korea plans to impose up to 38% provisional anti-dumping duties on Chinese hot-rolled steel plates starting next month, judging that those pro...

Leadership & Management Small firms emerge as prime targets of management disputes in Korea

Small and medium-sized enterprises (SMEs) accounted for the majority of disputes over corporate management control in South Korea last year, with th...

Robotics Lotte Duty Free unveils robot bartender in Gimpo Int'l Airport

South Korea's Lotte Duty Free said on Thursday it placed its AI-based robot bartenders in Gimpo International Airport.Lotte Duty Free offers robot...

Retail S.Korean gov't to lift two-bottle limit on duty-free alcohol

South Korean government will lift the number restriction of duty-free alcohol bottles for inbound travelers and halve the patent fees to boost the d...

Beauty & Cosmetics Shilla Duty Free opens Guerlain Ultimate Boutique at Incheon Airport

South Korea's Shilla Duty Free Shop announced on Tuesday it opened the Guerlain Ultimate Boutique, the first flagship store in a global airport, at ...

Retail Korean duty-free shops post Q3 losses; no signs of recovery

The four major duty-free shop operators in South Korea on Thursday posted operating losses in the third quarter, marking the first quarter in almo...

Earnings HYBE Q3 profit down; foresees better 2025 after BTS’ military discharges

HYBE Co., the K-pop behemoth behind BTS, suffered a double-digit profit fall in the third quarter amid an ongoing feud with Min Hee-jin, the creativ...

Retail Lotte Duty Free renews Tokyo Ginza Store

South Korea's Lotte Duty Free reopened its Tokyo Ginza Store in Tokyu Plaza Ginza on Wednesday after a complete renovation. This is the company's ...

Fiber & Textile Global Sae-A completes spinning mill in Costa Rica

South Korea's Global Sae-A Group said on Monday it had inaugurated a third spinning factory for its yarn-producing subsidiary, Sae-A Spinning, in ...

Retail Duty-free underdog Kyung Bok Kung outshines Lotte, Shilla

Kyung Bok Kung Duty-Free Co., a lesser-known travel retailer, has bucked the trend of South Korea's sluggish duty-free retail industry on a downward...

Retail Shinsegae Duty Free opens premium store at Incheon Airport

South Korea's Shinsegae Duty Free launched a premium store at Incheon International Airport, aiming to counter the decline in downtown duty-free sal...

Retail S.Korean travel retailers face downturn without Chinese big spenders

Before COVID-19 swept the world, South Korea’s top two travel retailers Lotte Duty Free and Shilla Duty Free Shop ascended to the world’...

Food & Beverage Bibigo opens store in Incheon Airport duty-free shops

CJ CheilJedang Corp.'s Korean food brand Bibigo announced on Tuesday that it recently opened its stores at Shinsegae Duty Free and Shilla Duty Free ...

Retail Duty-free stores: Golden goose gone for Korean retailers

South Korea welcomed a record-high number of post-pandemic foreign tourist arrivals for a single quarter in the first three months of this year, but...

Hydrogen economy Hyundai to transform Jeonju plant into hydrogen vehicle hub

Hyundai Motor Co., South Korea’s top automaker, will transform its commercial vehicle plant in the country into the manufacturing hub for its ...

Shareholder value Korea to put poison pill adoption on new policy agenda

South Korea will put the adoption of poison pills and dual-class shares on the new policy agenda at a meeting with business leaders this month, wher...

Retail Shilla Duty Free to co-work with China's largest lifestyle info platforms

South Korea's Shilla Duty Free Shop announced on Thursday that it partnered with Meituan and Dazhong Dianping, China's largest travel and lifestyle ...

Hydrogen economy Hyundai to expand US hydrogen truck business with California nonprofit

Hyundai Motor Co., South Korea’s top automaker, is gearing up its hydrogen truck business in the US by teaming up with a California nonprofit ...

Food & Beverage Pepero enters Thailand’s King Power Duty Free

South Korea's Lotte Wellfood Co. announced on Friday that its thin chocolate-coated cookie sticks Pepero and no-sugar ice cream Zero entered King Po...

Retail Lotte Home Shopping opens Bellygom pop-up in Myeongdong

South Korea's Lotte Home Shopping announced on Monday that it will open a Bellygom pop-up store at Lotte Duty Free's showroom Now in Myeongdong unti...

Retail Lotte Duty Free rebrands LDF House to Now in Myeong-dong

South Korea’s Lotte Duty Free announced on Tuesday that it changed its duty-free showroom LDF House, which was opened last October in Myeong...

Retail Duty-free shops at Incheon International Airport eager to lure boutiques

Duty-free shops at Incheon International Airport, South Korea’s main gateway, are fiercely competing to lure luxury brand boutiques to their o...

Beauty & Cosmetics Amorepacific's profit halves on weak sales in China; shares drop

South Korean cosmetics giant Amorepacific Group's stock closed at 3,400 won ($2.6) on Wednesday, down 12.1% after the group announced disappointing ...

Retail S.Korea’s duty-free industry going downhill

The South Korean travel retail industry, once considered the country’s golden goose, is forced to streamline operations given no signs of a dr...

Travel & Leisure Lotte Duty Free, Modetour to co-work for Vietnam tourism

South Korea's Lotte Duty Free announced on Friday that it has signed a memorandum of understanding (MOU) with Modetour Network Inc. to jointly devel...

Retail Lotte Duty Free holds grand reopening ceremony at Changi Airport

Lotte Duty Free held a grand opening ceremony for its Changi Airport store in Singapore, marking the official start of its 19 stores.Lotte Duty Free...

Retail S.Korea's perfume duty free limit to rise by 100 ml in 2024

South Korean government will raise the duty-free limit of perfume from 60 ml to 100 ml in January 2024. The Ministry of Economy and Finance announce...

Retail Lotte extends Brisbane Airport duty-free shop operations until 2034

Lotte Duty Free, South Korea’s largest duty-free business operator, said on Sunday it has extended its operating rights for a duty-free shop a...

Retail Shilla Duty Free partners with Line Pay to attract Asian tourists

South Korea's The Shilla Duty Free announced it partnered with Line Pay Taiwan to attract South Asian tourism on Thursday. Line Pay is the top mobil...