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Reporter : Kim Jae-heun
Wed, May 25, 2022 | 02:33
Lotte to pull out of China, focus on Southeast Asia
Lotte, Korea's largest retailer, has decided to pull out of China altogether, due to the country's continued retaliation against Korean firms after Seoul's decision to station a U.S. anti-missile battery in 2016, as well as sluggish private consumption amid the prolonged COVID-19 lockdown. Instead, Lotte plans to focus on Indonesia, Vietnam, Malaysia and other Southeast Asian...
Lotte, Shinsegae to compete in NFT market
Korea's two largest retailers Lotte and Shinsegae are competing in the non-fungible token (NFT) market by introducing their own bear characters, according to company officials Tuesday. This is seen as a step toward ultimately building a metaverse platform where they will attract customers to shop in the three-dimensional (3D) virtual world.
POSCO Energy to cooperate with CIP in wind power, green hydrogen businesses
POSCO Energy has signed a memorandum of understanding (MOU) with Danish renewable energy asset management company Copenhagen Infrastructure Partners (CIP) to cooperate in the offshore wind power and green hydrogen businesses, the company said Tuesday. The two companies plan to establish a supply chain to provide steel to the developing offshore wind power business, while crea...
Subway Korea appoints former Outback Steakhouse CEO as new head
Subway Korea has appointed former Outback Steakhouse Korea CEO Cho In-soo as its new country director, replacing former head Colin Clark who managed the sandwich restaurant franchise here for the past 15 years, the company said Wednesday. Clark left the firm in March.
Consumers alarmed by high sodium, saturated fat in meal-kits
A 32-year-old office worker surnamed Kim said he has gained 5 kilograms over the past three months since he started eating home meal replacement (HMR) products sold at grocery stores. Kim thought it would be healthier to eat freshly prepared meal kits rather than offerings sold by convenience stores or fast-food chains.
Samsung chief pays tribute to late UAE president
Samsung Electronics Vice Chairman Lee Jae-yong paid a visit to the Embassy of the United Arab Emirates in Seoul, Tuesday, offering condolences for UAE President Sheikh Khalifa bin Zayed Al Nahyan, who passed away on May 13. Lee is said to have had a cordial relationship with the UAE leader when he was alive, according to industry watchers.
CJ, Ottogi uneasy about Harim's tactics to sell new cooked rice
CJ CheilJedang and Ottogi have expressed dissatisfaction over Harim, which decided to market a new line of ready-to-eat cooked rice by suggesting similar products made by the rival food makers are unhealthy, according to company officials Tuesday. During the launch of its new cooked rice, “The Misik Bap,” on Monday, Harim Holdings CEO Huh Jun said the product is made of water...
Kolmar Korea acquires global trademark
Kolmar Korea has acquired the global trademark of “Kolmar,” the company said Tuesday. It is the first time that a Korean firm has acquired the original company's brand trademark in the cosmetics industry. The company's original headquarters was based in the United States, where it was first established in 1921.
India's wheat export ban feared to raise prices of bread, instant noodles
India's wheat export ban has been causing concerns over possible hikes in the prices of instant noodles, bread and other processed products made from the grain in Korea in the coming months, according to industry officials, Monday. India is the world's second-largest wheat exporter after China. Korea imports 51 percent of its milled wheat from the United States and the rest f...
Naver Webtoon to set up joint venture with Japanese broadcaster TBS
Naver Webtoon has agreed to establish a joint venture, “Studio Toon,” together with Japanese broadcasting network TBS and Japanese webtoon producer Shine Partners, the company said on Monday. The headquarters of Studio Toon will be set up in Seoul this month and it will start operating from June. A webtoon is a digital comic published online.
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