Search Results for: Korean

THE cosmetics sector of South Korea, evaluated at USD12 billion in sales during 2016 by market researcher Frost & Sullivan, has been enduring a tough crash course in political risk since its government agreed to host the US missile-defence system Terminal High-Altitude Area Defence (THAAD).…

THE USE of airless technology in packaging is largely about zero product waste, preserving product integrity and less packaging material – and it obviously gels well with the growing trend towards sustainability. That explains the uptake in this technology led by cosmetics packaging, industry experts argue.…

THE PAINT and coatings sector in Indonesia looks set to grow significantly in coming years as rising salaries and job creation mean more disposable income for middle class purchases of residential product. The south-east Asian archipelago’s poverty rate has dropped from 17.2% in 2002 to 11.1% in 2015, according to the World Bank.…

South Korea’s Deputy Prime Minister Yoo Il-ho has confirmed that his government has begun drafting a talent-based immigration system to serve as a key driver of economic competitiveness in the future. According to Yoo, the Office for Government Policy Coordination (OPC) has created a task force to counter the country’s demographic changes and plans to produce mid and long-term immigration policies in the first half of the year.…

THE EUROPEAN beef sector must keep its direct payments at a time when the European Union (EU)’s Common Agricultural Policy (CAP) is under review, according to new research highlighted by the European Parliament.

‘The EU cattle sector: challenges and opportunities – milk and meat’ report, published February 27 by the parliament’s agriculture and rural development committee, says these payments play an important part in farm-household income.…

The vice chairman of South Korean electronics giant Samsung Jay Y Lee, was arrested on bribery charges last weel (on February 17) and is being held in custody awaiting a decision on his indictment. Lee, the heir to the family business is accused of paying South Korean won KRW43 billion (USD38 million) in bribes to Choi Soon-sil, a confidante of the now-suspended President Park Geun-hye, in return for political favours.…

The Arabian peninsula oil-producing nations of the Gulf Cooperation Council (GCC) have long been considered a lucrative consumer market for international brands. Many businesses flourish in the region and the beauty and personal care product industries are no exception.

According to Euromonitor International, the retail value of the GCC region’s beauty and personal care market was USD9.3 billion in 2016 – member countries are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).…

The South Korean coatings market, estimated by Kusumgar, Nerlfi & Growney Inc, a New Jersey, USA-based consulting firm for the polymer and chemical industries, at 840,000 tonnes worth USD3.5 billion in 2016, has been challenging for suppliers in 2016-17, as demand is affected by two opposite trends.…

THE HONG Kong and Pakistan government have signed a comprehensive agreement on avoiding double taxation. Pakistani tax paid by Hong Kong companies will be credited against Hong Kong taxes on the same profits, with the reverse applying for Pakistan companies. Pakistan’s withholding tax rates for Hong Kong residents on royalties and fees for technical services (both currently 15%) will be capped at 10% and 12.5% respectively.…

2016 – Winners and losers

RETAILERS & BRANDS

WINNERS

US-based sportswear brand Under Armour delivered its 26th consecutive quarter of 20%-plus revenue growth in the third quarter of 2016, with sales increases across all divisions. Net sales were up 22% in the third quarter to USD1.47bn.…