SEOUL, Aug. 11 (Korea Bizwire) – Cost-effective large drinks are gaining popularity in South Korea as high inflation places a burden on consumers. Last month, Starbucks Korea introduced the Trenta size (887 milliliters) beverages, and their cumulative sales surpassed 400,000 units within just 15 days. The Trenta size is about 1.5 times bigger than the [...]
SEOUL, Aug. 10 (Korea Bizwire) — LS Cable & System Ltd., South Korea’s leading wire and cable maker, said Thursday it will invest about 155.5 billion won (US$118 million) over the next two years to expand its submarine cable plant. The expansion of the factory in Donghae on the east coast is designed to meet [...]
SEOUL, Aug. 7 (Korea Bizwire) — Lotte Energy Materials Corp. said Monday it is spending 560 billion won (US$431 million) to build a factory in Spain to produce battery-grade copper foil for use in electric vehicle cells. The factory will be located in Mont-roig del Camp, a town in Catalonia in northeastern Spain, and built [...]
SEOUL, Aug. 7 (Korea Bizwire) — South Korean companies were scrambling Monday to support the heat-plagued World Scout Jamboree by providing supplies and health care professionals to try to alleviate any difficulties that young attendees might feel from the extreme heat. Samsung Group sent around 150 employees to the Saemangeum campsite, a reclaimed wetland on [...]
SEOUL, Aug. 7 (Korea Bizwire) — SK Nexilis Co., a South Korean copper foil maker, said Monday it has signed a deal with German battery manufacturer Varta A.G. to exclusively supply its product for what will be Varta’s first mass production of electric vehicle (EV) batteries. SK Nexilis said it is also in talks with [...]
SEOUL, Aug. 4 (Korea Bizwire) — South Korea’s top construction equipment maker HD Hyundai Infracore Co. said Thursday it will launch an online store dedicated to excavators, marking the first of its kind in the local construction machinery sector. The company’s in-house brand, DEVELON, will establish the online store to facilitate the sales of the [...]
SEOUL, Aug. 3 (Korea Bizwire) — Kyochon 1991, one of South Korea’s major fried chicken franchises, opened its first store in Taiwan on Thursday as part of its efforts to expand its global business, its operator said. The store at Banqiao Global Store in New Taipei City will serve its popular menu, as well as [...]
SEOUL, Aug. 3 (Korea Bizwire) — CJ Logistics Corp., a major South Korean logistics company, said Thursday that it has signed an initial agreement with Japanese shipping company Ocean Network Express Pte. Ltd. as part of its efforts to expand its global business. With the memorandum of understanding, Ocean Network Express, also called ONE, will [...]
SEOUL, Aug. 1 (Korea Bizwire) — Hyundai Engineering & Construction Co., South Korea’s No. 2 builder, said Tuesday it has bagged a US$145 million order to lay power transmission lines in Saudi Arabia. The deal, signed with a Saudi state power company, calls for building 207 kilometers of a 525-kilovolt, 605-km transmission line between Saudi [...]
SEOUL, July 31 (Korea Bizwire) — South Korean food giant CJ Cheiljedang Corp. said Monday it has sold off all of its shares in Chinese food company Sichuan Jixiangju Food at 300 billion won (US$235.8 million). CJ Cheiljedang had bought a combined 60 percent share in the Chinese firm, which deals with Chinese foods, including [...]