Articles by Byun Hye-Jin
Byun Hye-Jin
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Collaboration with fashion designers growing trend in manufacturing
Product collaborations with fashion brands continue to be popular in the local manufacturing industry, with a growing number of consumers looking to own unique items. Samsung Electronics, the country’s tech giant, said Friday it has launched a limited edition of Galaxy Z Flip 4, Galaxy Watch 5 series and Buds 2 designed by a local fashion brand Juun.J. The Juun.J edition Galaxy Z Flip 4 comes in two colors – graphite and phantom black -- with an all-black leather case, a shoulder
Industry Sept. 23, 2022
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BMW, Mercedes-Benz, Volkswagen lead recall tally in South Korea
Germany’s top three carmakers – BMW, Mercedes-Benz and Volkswagen – topped the list of the most recalled cars in South Korea over the past five years, a recent report showed Wednesday. According to the report based on data from the Ministry of Land, Infrastructure and Transport, vehicles produced by the German big three made up 92.1 percent of the total recalled cars between January 2018 and August 2022. BMW was ranked first with 2,702 recalls over five years, with the numbe
Industry Sept. 21, 2022
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S. Korea to see surge in milk price amid worsening inflation
Dairy product prices are likely to go up again as the price of locally produced milk is expected to increase as much as 500 won ($0.36) per liter, industry sources said Tuesday. Korea Dairy Committee, a private organization that oversees fair distribution of raw milk, carried out the first meeting between dairy farmers and dairy companies on Tuesday to negotiate the price of raw milk for this year. Even before the negotiation, the price of milk was widely expected to jump 300-500 won to 2,700-3,
Consumer Sept. 20, 2022
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Inflation fears loom large as kimchi-making season nears
South Korean households are feeling the inflation pinch as they brace for the annual kimchi-making season later this year. The average price for 10 kilograms of cabbages, the key ingredient for kimchi, surged on-year by 116.6 percent to 32,940 won ($23.7) as of Sept. 16, data from the state-run Korea Agro-Fisheries & Food Trade Corp. showed. The price of 20 kg of white radish, which are fermented in spicy sauce and other flavorful seasoning, skyrocketed by 146.1 percent to 28,460 won in the
Consumer Sept. 19, 2022
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After Chuseok, Koreans to face further restaurant inflation
With inflation showing no signs of abating, South Koreans are likely to suffer more financial burden from eating out after the Chuseok holiday, as even low-cost foods like gimbap see a surge in price. The average price of gimbap, one of the more budget-friendly meals, in Seoul surged 2.6 percent to surpass the 3,000 won ($2.2) mark as of August compared to a month earlier, according to data from the Korea Consumer Agency. Among restaurant meals, the price of pork belly increased the most, fro
Consumer Sept. 8, 2022
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More Koreans refuse to cook for Chuseok
Kim kyung-hee, a housewife in her 60s, who hated the idea of laying out store-bought meals on a “jesa” table, which is usually placed with homemade food to honor ancestors, is considering buying one or two packaged meals this year for the Chuseok holiday. “With rising inflation, it is just too expensive to buy all the food ingredients from markets. But mostly, I don’t want to burden my son and daughter-in-law, asking them to help in the kitchen,” Kim said. &ldquo
Consumer Sept. 6, 2022
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Super typhoon’s approach puts Korean businesses on high alert
Tensions grew sharply among retail, transport and manufacturing sectors on Monday on fears of the possible disruptions that Typhoon Hinnamnor could cause to their businesses, which are already suffering from a weak local currency and persistent economic uncertainty. The country’s three major mobile carriers -- SK Telecom, KT and LG Uplus -- set up emergency centers to monitor hurricane damage and tackle possible power outrage problems. The three companies mobilized emergency power gener
Industry Sept. 5, 2022
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Lotte Group to build eco smart city, logistics center in Vietnam
South Korean retail giant Lotte Group said Sunday it will build an eco-friendly smart city complex and smart logistics center in Vietnam, as part of its expansion plan to cement a strong foothold in Southeast Asia. Under the $900 million Thu Tiem Eco Smart City project, the company plans to construct a 60-story building, with another five floors underground, comprising a shopping mall, cinema, office space, hotel, residences and apartments in Ho Chi Minh City. For the residential area, a big
Consumer Sept. 4, 2022
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[Newsmaker] New jobs for tycoons’ Samsung, SK chiefs to promote Busan Expo
South Korea’s two most influential business leaders -- Samsung Electronics Vice Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won -- are set to take a rather public role in promoting the country’s bid to host the 2030 World Expo in Busan. According to local reports quoting a source at the presidential office, Lee and Chey will be named presidential envoys for Korea’s World Expo bid and that they are set to visit the UK and Japan, respectively, in their new roles. Lee
Industry Sept. 1, 2022
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Retailers race to make next Pokemon Bread
Piggybacking on SPC Samlip’s Pokemon Bread craze, South Korean food companies are using animated characters on their product packaging to appeal to customers with a desire to collect nostalgic items. Convenience store chain 7-Eleven said Wednesday it has sold more than 250,000 rolls of its recently launched Digimon Bread in a week. The pastry comes with a sticker of one of 182 characters from the Japanese anime television series “Digimon Adventure” -- a key rival of the Poke
Consumer Aug. 31, 2022
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Hyundai E&C opens Hillstate Wonju Restige apartment sales
Hyundai Engineering & Construction said Wednesday it has opened a model house to initiate sales of its Hillstate Wonju Restige apartment. Located in Wonju, Gangwon Province, the apartment complex consists of 976 households, ranging in size from 84 square meters to 136 square meters. After receiving applicants between Sept. 5 and 7, the company will announce the selected residents on Sep. 15. The move-in date is scheduled for some time in January 2025. Hyundai E&C said since the apartment com
Industry Aug. 31, 2022
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Coupang to file law suit against NGO on false allegations
South Korean e-commerce giant Coupang said Tuesday it will take legal action against People’s Solidarity for Participatory Democracy, a local NGO, for spreading false information on the company’s audit report. The NGO said in a statement that Coupang is illegally aiding its subsidiary called CPLB by receiving only 2.55 percent commission while demanding around 31.2 percent commission to other sellers. The 31.2 percent includes advertising fee and standard brokerage fee, it claimed.
Consumer Aug. 30, 2022
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KT&G to build new packaging factory in Sejong
South Korean tobacco company KT&G said Monday it plans to build a new eco-friendly tobacco packaging factory in the central administrative hub of Sejong City. Under the 180 billion won ($133.5 million) project, the factory will be constructed at Sejong Mirae Industrial Estate, a government-developed area for local manufacturing companies, by 2025. KT&G said the factory will produce tobacco packaging such as cigarette papers and boxes, based on a cutting-edge logistics automation syste
Consumer Aug. 29, 2022
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Minister says inflation law ‘highly likely’ to violate FTA
South Korean Minister of Trade Industry and Energy Lee Chang-yang said Monday the US Inflation Reduction Act that bans tax benefits for electric vehicles built outside of North America is highly likely to breach the US-Korea FTA and WTO rules. Asked whether the act violated the US-Korea FTA or WTO rules during a parliamentary committee meeting on trade and industry, Lee said, “It is highly likely to be violating those rules and we will bring a complaint at the WTO if necessary.” T
Industry Aug. 29, 2022
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[Herald Interview] Wind of change in workplace culture
A wind of change is blowing in South Korea’s rigid top-down workplace culture as a growing number of local companies, from fledgling startups to traditional manufacturing firms, feel the need to improve the quality of work environments in to attract and retain talent. To name a few changes: simpler decision-making processes, no more forced overtime work until late night or and more openness to outspoken opinions. It’s a trend that Khanzada Temur Khan, director of the people &
Industry Aug. 21, 2022
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