SEOUL, March 19 (Korea Bizwire) — E-Mart Inc. said Sunday that whisky sales at the outlets of South Korea’s leading discount store chain exceeded sales of the country’s distilled liquor soju in the January-February period. Demand for whisky soared among younger people, known as the “MZ Generation,” as they currently view drinking whisky, which was [...]
SEOUL, March 18 (Korea Bizwire) — Hotel Shilla, Shinsegae DF and Hyundai Department Store Duty Free were shortlisted for duty-free licensing at Incheon International Airport, the airport operator said Friday. Incheon International Airport Corp. announced the result of the first round of assessment of bids for the five duty-free zones at the nation’s main airport, [...]
SEOUL, March 17 (Korea Bizwire) — South Korea’s imports of beef reached a record high last year on growing demand for the meat and the government’s zero-tariff scheme, data showed Friday. The country’s beef imports came to 477,000 tons in 2022, or the largest volume ever, compared with 453,000 tons a year earlier, according to [...]
SEOUL, March 17 (Korea Bizwire) — Shareholders of POSCO Holdings Inc. approved a proposal Friday to relocate the headquarters of the country’s top steelmaker. Last month, the company’s board of directors proposed the relocation of its headquarters to Pohang, 272 kilometers southeast of Seoul. In 2022, the steelmaker transformed into a holding company, and faced [...]
SEOUL, March 15 (Korea Bizwire) — POSCO Holdings Inc., the country’s leading steelmaker, said Wednesday it has decided to donate 4 billion won (US$3.1 million) to support a plan floated by the South Korean government to compensate the victims of forced labor under Japan’s 1910-1945 occupation. In 2012, POSCO promised to donate 10 billion won [...]
SEOUL, March 15 (Korea Bizwire) — Heukharang or black harang, a lettuce variety with high levels of sleep-inducing lactucin, is set to be cultivated in Australia. Developed by the Jeollanamdo Agricultural Research & Extension Services (JARES), heukharang contains 124 times more lactucin than regular lettuce, making it a valuable natural insomnia treatment. As the lactucin [...]
SEOUL, March 14 (Korea Bizwire) — South Korean construction firms are turning towards new ventures in the environment and energy sectors amid worsening profitability in the housing market. SK Ecoplant Co., which underwent a corporate name change from SK Engineering & Construction Co. in 2021, is pursuing new ventures such as waste battery recycling, bio [...]
SEOUL, March 13 (Korea Bizwire) —According to recent findings, the grassland area in Korea, which serves as a representative carbon sink in the agricultural sector, is steadily decreasing. As of 2022, the national grassland area had declined to 32,124 hectares, a decrease of 376 hectares from 2021, slightly larger than Seoul’s financial hub of Yeouido [...]
SEOUL, March 10 (Korea Bizwire) — LG Group Chairman Koo Kwang-mo has been sued by his family over inheritance he received more than four years ago, in a dispute that is feared to shake management of the country’s fourth-largest chaebol. Koo’s stepmother and two stepsisters filed a lawsuit with the Seoul Western District Court on [...]
SEOUL, March 10 (Korea Bizwire) — South Korea’s drug safety ministry said Thursday it has brought charges against a butterbeer maker and sellers, claiming that the beer does not contain any butter. The Ministry of Food and Drug Safety issued an advance notice to Brewguru, the maker of the butterbeer Beurre Biere, saying that the [...]