Korea Agro-Fisheries & Food Trade Corp. on Thursday declared "Global Kimchi Day" to raise awareness about the Korean staple food globally, together with Korean food buyers and foreign diplomats during the Buy Korean Food trade fair in Seoul. The state-run food trade agency, known as aT, has already celebrated Nov. 22 as Kimchi Day following a revision to the Kimchi Industry Promotion Act in February 2020. At Thursday’s event, aT vowed to seek the day’s global recognitio

Industry Nov. 16, 2023

The Korea Agro-Fisheries & Food Trade Corp. said Wednesday it has launched a consultative body to promote low-carbon diets, against the backdrop of escalating calls to combat climate change. According to the food trade agency, the newly launched Low-carbon Diet Campaign Forum aims for the voluntary cooperation of officials from some 600 institutions -- such as major K-food buyers and international Korean organizations -- to spread low-carbon diet practices. A low-carbon diet refers to the co

Industry Nov. 15, 2023

Korea Airports Corp. said Tuesday the head of the state-run airport operator met with the head of Japan Airport Terminal, in a bid to discuss the two airport operators' future strategies for airport operations. According to the KAC, Chief Executive Officer Yoon Hyeong-jung met with Isao Takashiro, the CEO of Japan Airport Terminal, during the two airport operators' annual meeting, which was last held in 2019, took place in Tokyo on Monday. The KAC currently operates Gimpo International

Industry Nov. 14, 2023

Kakao founder Kim Beom-su said he will review the entirety of the platform giant's services and businesses, including management personnel, from the ground up, ahead of an emergency management meeting held earlier Monday. "(We will) aim to become a company that meets the public's standards by reassessing all of (Kakao's) services and businesses," Kim told reporters at Kakao Mobility's headquarters in Pangyo, Gyeonggi Province. Kim, who currently serves as the head o

Industry Nov. 13, 2023

INCHEON -- At CJ Logistics' Global Distribution Center, a total of 140 red, box-shaped robots with four wheels zoom across rows of stacked-up bins. The robot then drops down wires and hoists up a bin filled with goods. Carrying the bin, the robot scurries along the metal railings, transporting the bin to the packaging station, where an employee selects a set number of items from the bin to pack into a box for delivery. The robot then bustles back again and heads for another bin, repeating t

Industry Nov. 12, 2023

South Korea's tourism and retail industries have long been dependent on China's big spenders traveling to the country in tour groups. So when the Chinese government lifted a travel ban on group tours for its nationals in August, expectations were high about a possible surge in Chinese travelers, the biggest spenders among visitors here, after years of pandemic disruptions. After three months, there is little sign of the so-called “Chinese spending boom.” Experts say that ov

Industry Nov. 9, 2023

South Korean e-commerce giant Coupang announced record third quarter earnings amid an increase in its customer numbers and the strong performance of its core businesses. Coupang has continued its winning streak for five consecutive quarters since reporting profits for the first time in 2022. According to the New York-listed company's earnings conference call Wednesday, the company's quarterly sales for the July-September period logged $6.18 billion, posting on-year growth of 21 percent

Industry Nov. 8, 2023

Global tobacco giant British American Tobacco Group discussed its future design strategies during a design conference held in Seoul last week, highlighting the social and ethical responsibilities industrial designers must undertake when designing heating tobacco products, according to the company on Monday. "The role of designers is changing, from simply designing products to assuming social and environmental responsibilities. This (new role) is not a choice for individual designers to mak

Industry Nov. 6, 2023

South Korean pharmaceuticals firm SK Bioscience is ramping up efforts to enhance cooperation with global health care officials, especially in the biopharmaceuticals field in the post-pandemic era. According to the company on Monday, Jean Kaseya, director general of the Africa Centers for Disease Control and Prevention, visited the Korean firm's headquarters on Friday to discuss collaborative measures supporting African countries in developing their own vaccines. During the meeting, the tw

Industry Nov. 6, 2023

Prices of Korean beef rose following a series of lumpy skin disease breakouts in cattle across the country, data released Thursday showed. According to data from the Korea Institute for Animal Products Quality Evaluation, the wholesale prices of Korean beef logged an average of 19,365 won ($14.25) per kilogram as of Wednesday. The price saw a 6.5 percent increase compared with 18,179 won a week ago prior to the outbreak. The first confirmed case of lumpy skin disease was reported last Friday. Du

Industry Oct. 26, 2023

Samsung Biologics said Wednesday it exceeded 1 trillion won ($741 million) in quarterly sales for the first time, following the operation of its fourth plant and profits generated by long-term contract manufacturing orders. According to regulatory filings for the July-September period, Samsung Biologics’ quarterly sales on a consolidated basis hit a record high of 1.34 trillion won, marking 18 percent on-year growth. Operating profits were 318 billion won during the same period, down 2 per

Industry Oct. 25, 2023

KT Corp. said Tuesday it will establish a digital infrastructure in Saudi Arabia together with Hyundai Engineering & Construction and Saudi Telecommunication Company (Saudi Telecom), in line with the kingdom’s aims to diversify its industry structure under Saudi Vision 2030. KT said that it signed a memorandum of understanding with Hyundai E&C and STC Group – the parent organization of Saudi Telecom -- in Riyadh on Monday during President Yoon Suk Yeol’s state visit to

Technology Oct. 24, 2023

Samsung Biologics said Tuesday it inked a partnership with Kurma Partners, a French venture capital firm specializing in financing health care companies, to offer a variety of drug-related services to Kurma Partners' portfolio companies. Under the partnership, Samsung Biologics will provide biotech companies invested in by Kurma Partners with its customizable chemical, manufacturing and control solutions. Customizable CMC solutions refer to drugs-related services such as the development of

Industry Oct. 24, 2023

Eugene Group, a mid-sized South Korean conglomerate with businesses ranging from distribution to finance, has become the largest shareholder of local news channel YTN, according to industry sources on Monday. The group reportedly acquired a 30.95 percent stake in YTN for about 319.9 billion won ($236 million). The stake in question was previously owned by the state-run Korea Electric Power Corp.’s subsidiary Kepco KDN, an electric power grid service company, and the Korea Racing Authority.

Industry Oct. 23, 2023

South Korean bakery giant SPC Group's flagship bakery chain Paris Baguette will make its first inroad into the Middle Eastern and African market as a part of its efforts to tap into the global halal food market worth some $2 trillion in value, said SPC Group, Monday. SPC Group said it signed a memorandum of understanding with a United Arab Emirates-based conglomerate Galadari Brothers Group on Sunday to establish a joint venture by 2024. Galadari Brothers Group currently operates businesses

Industry Oct. 23, 2023