SEOUL, Aug. 22 (Korea Bizwire) — New orders won by South Korean shipbuilders jumped 11.9 percent in the first half of 2023 on the back of rising demand for high-priced vessels, the industry ministry said Tuesday. The country’s shipbuilders secured orders worth US$9.29 billion in the January-June period, compared with $8.24 billion a year earlier, [...]
SEOUL, Aug. 22 (Korea Bizwire) — With the relentless summer heat persisting, there has been a rapid surge in the number of people frequenting indoor shopping venues. During the period from Aug. 1 to 15, Hyundai Department Store observed a 13 percent increase in sales across its 16 stores nationwide compared to the previous year. [...]
SEOUL, Aug. 18 (Korea Bizwire) — An independent corporate compliance oversight committee of Samsung Group recommended Friday the country’s biggest conglomerate rejoin a business interest group that it withdrew from years ago amid a high-profile corruption scandal involving its de facto leader Lee Jae-yong and the ousted former President Park Geun-hye. The committee, however, said [...]
SEOUL, Aug. 18 (Korea Bizwire) — CJ Logistics Corp., a major South Korean logistics company, is consistently losing market share in the domestic parcel delivery service due to the active attraction of individual customers by e-commerce giant Coupang Inc. As per CJ Logistics’ half-year report, the company secured a share of 44.3 percent in the [...]
SEOUL, Aug. 17 (Korea Bizwire) — HMM Co. said Thursday it has clinched the top spot in a recent environmental, social and corporate governance (ESG) rating of major shipping firms around the world. South Korea’s No. 1 container shipper said it has obtained a “low” grade of 15.4 points in the rating conducted by Sustainalytics, [...]
SEOUL, Aug. 17 (Korea Bizwire) — A range of new plant-based bread products from Shinsegae Food Inc., a food business arm of retail giant Shinsegae Group, are receiving a positive market response. According to the company, the Better Meat Pizza Bread, which was launched at bakery sections within E-Mart Inc. outlets last month, is averaging sales of [...]
SEOUL, Aug. 16 (Korea Bizwire) — As the demand for plant-based milk alternatives continues to surge within the food industry, there’s news that even the Coca Cola Beverage Co. is poised to make its entry into this market. The realm of alternative milk, crafted from plant-based ingredients such as oats, is witnessing heightened attention from [...]
SEOUL, Aug. 14 (Korea Bizwire) — South Korea recaptured the top spot in new global shipbuilding orders for the first time in five months in July, industry data showed Monday. Local shipyards clinched orders totaling 1.46 million compensated gross tons (CGTs) to build 29 ships, accounting for 44 percent of the global total of 3.33 [...]
SEOUL, Aug. 13 (Korea Bizwire) — Cosmax Inc., South Korea’s major cosmetics manufacturer, said Sunday its factory jointly built with Yatsen Holdings has begun operations in Guangzhou, China. Cosmax set up a joint venture, Yatsen Biotechnology, with the New York-listed Chinese Yatsen in 2020, and began construction of the 60,593-square-foot factory, Asia’s biggest cosmetics factory. [...]
SEOUL, Aug. 11 (Korea Bizwire) — South Korea’s top instant noodle maker Nongshim Co. said Friday its net profit jumped more than 60 percent in the second quarter from a year earlier largely thanks to stronger demand for instant noodles amid high inflation and growth in overseas markets. Net profit for the three months ended [...]