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Sun, November 27, 2022 | 01:20
Namyang founder ordered to hand over shares to Hahn & Company
A court has ordered Namyang Dairy founder and his family members to hand over their controlling stake in the dairy company to local private equity firm (PEF) Hahn & Company as they agreed last year. The Seoul Central District Court ruled against Namyang Chairman Hong Won-sik and his family, Thursday, saying they should honor their stock purchase agreement (SPA) with the PEF, ...
RDA helps boost food security in Asian nations
The Rural Development Administration (RDA) has been accelerating its efforts to help Bhutan and other Asian nations bolster their food security by sharing its advanced agricultural knowledge and experience, the state-run agricultural research institute said, Wednesday.
Osstem Implant trains Mexican dentists
Osstem Implant welcomed 135 dentists and officials from Mexico with a training session and introduced to them its products at its headquarters in Seoul, Sept. 17, the company said Tuesday. It is part of the dental implant company's strategy to expand its sales network in the South American market.
Maryland governor, KITA chief discuss economic cooperation
Maryland Governor Larry Hogan visited the Korea International Trade Association (KITA) in Seoul, Monday, for a meeting with its chairman, Christopher Koo, to discuss a range of economic issues involving Korea and the United States, according to KITA officials. Hogan, called by some here as the “Korean son-in-law” because he is married to Korean American Yumi Hogan, came to Ko...
Food retail chains concerned amid intensifying price war
Concerns are growing over retailers' financial soundness as they are engaged in an intensifying price war to attract increasingly frugal consumers, according to industry officials, Monday. Retail store chains and convenience stores, in particular, have been introducing “special” prices for popular food items like fried chicken, pizza and caffeine drinks since June.
Department store sales recover after lifting of quarantine measures
The government's lifting of quarantine measures on foreign visitors to Korea is helping local department stores see a sales recovery. Starting Sept. 3, all inbound tourists have been exempted from taking COVID-19 tests before entering Korea. This led the number of visitors here to skyrocket from 80,000 early this year to 260,000 in July and 400,000 this month, the Korea Touri...
Kimchi supply hit by cabbage shortage
Price hikes of Napa cabbage have led to an increase in demand for ready-made kimchi at large discount stores here, but sales have fallen due to a lack of products in stock affected by a short supply of food materials in the country. Daesang, the top kimchi producer in the world, has recently been distributing only half the regular amount of 3.3 kilogram cabbage kimchi product...
IBM Korea introduces new 'data fabric' technology
IBM Korea has introduced a new data utilization method, simplifying access to a vast amount of information based on artificial intelligence (AI). The global IT solution provider held a press conference Thursday on Yeouido, Seoul, to explain its “data fabric” service and related technologies.
McDonald's Korea struggles again to secure ingredients
McDonald's Korea is struggling once again to secure sufficient amounts of lettuce for its burgers, raising questions about its ability to ensure a stable supply of raw ingredients, according to industry officials, Wednesday. On Tuesday, McDonald's Korea posted a notification on its website saying, “Some restaurants may serve products with little or no lettuce due to unstable ...
Coupang denies sale of its food delivery platform
Coupang, Korea's largest e-commerce company, has denied a recent media report that it was looking to sell its food delivery platform amid intensifying competition and market saturation, company officials said Monday. “The ongoing rumor that we are going to sell our business is not true. Also, we cannot comment on any issues related to M&A deals,” a Coupang official said, dism...
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