SEOUL, July 31 (Korea Bizwire) — SKC Co. said Monday it is teaming up with Japan’s Toyota Tsusho Corp. for a joint venture to produce and supply battery-grade copper foil in North America, advancing into the world’s most burgeoning electric vehicle (EV) market. Under the memorandum of understanding, SK Nexilis Co., SKC’s copper foil-making subsidiary, [...]
SEOUL, July 31 (Korea Bizwire) — South Korea has begun commercial operations of a power plant installed with the country’s first homegrown gas turbine, its operator said Monday. Korea Western Power (KOWEPO) said it began operating the Gimpo Combined Heat and Power Plant in the city of Gimpo, west of Seoul, on Friday. The plant [...]
SEOUL, July 28 (Korea Bizwire) — Sales of cigarettes in South Korea moved down 0.6 percent on-year in the January-June period, data showed Friday. South Korean smokers purchased 1.77 billion 20-cigarette packs in the first half, falling from 17.8 billion packs posted a year earlier, according to the Ministry of Economy and Finance. Heat-not-burn tobacco [...]
SEOUL, July 28 (Korea Bizwire) – South Korea’s exports of ice cream reached a record high in the first half of 2023, data showed Friday, on the back of the growing popularity of Korean entertainment content across the globe. Outbound shipments of ice cream and other edible ice products reached US$59 million in the January-June [...]
SEOUL, July 24 (Korea Bizwire) — South Korea’s top steelmaker POSCO Holdings Inc. said Monday its second-quarter earnings tumbled nearly 56 percent on-year amid sluggish sales. Consolidated net profit came to 800 billion won (US$621.4 million) in the April-June period, down 55.6 percent from a year earlier, the company said in a regulatory filing. Sales [...]
SEOUL, July 24 (Korea Bizwire) — Papa John’s Korea has launched an American style fried chicken brand in South Korea as part of its plan to break into the country’s competitive market, company officials said Monday. Mama Chicken opened its first store in the Mapo district in western Seoul on Friday, according to the officials [...]
SEOUL, July 24 (Korea Bizwire) — A pop-up store to mark the upcoming Seoul visit of the English football club Manchester City will be opened later this week, its operator said Monday. The pop-up store, named “Puma City,” will operate from Friday to Sunday at Lotte World Mall in Jamsil, southern Seoul, according to Lotte [...]
SEOUL, July 21 (Korea Bizwire) — South Korean cosmetics and household goods maker LG Household & Health Care Ltd. is planning to exit the cosmetics franchise business due to poor performance. The company announced the proposal of changing the franchise contract structure into a ‘merchandise supply contract’ to the owners of franchise shops, and related [...]
SEOUL, July 19 (Korea Bizwire) — South Korean shipyard HD Korea Shipbuilding & Offshore Engineering Co. said Wednesday it has won a 179 billion-won (US$141.4 million) order to build two liquefied carbon dioxide (CO2) carriers for a Greek shipper. Hyundai Mipo Dockyard Co., one of HD Korea Shipbuilding & Offshore Engineering’s three subsidiaries, will construct [...]
SEOUL, July 18 (Korea Bizwire) — POSCO Holdings Inc. on Tuesday reported that its second-quarter operating profit had narrowly exceeded expectations due to “normalized” sales and higher product prices. Its consolidated operating income came to 1.3 trillion won (US$1 billion) for the April-June period, down 38.1 percent from a year earlier, South Korea’s top steelmaker [...]