SEOUL, Nov. 24 (Korea Bizwire) – Pernod Ricard Korea Co. sees great potential in South Korea’s high-end whisky market and hopes to strengthen its market presence in the segment, the company’s president said Thursday. “We have seen a massive rebound in international whisky in Korea. Even in the past few years experiencing COVID-19, we saw [...]
SEOUL, Nov. 24 (Korea Bizwire) — South Korean shipyard HJ Shipbuilding & Construction Co. said Thursday it has clinched a 212 billion-won (US$159 million) order to build four high-speed patrol ships for the country’s Navy. HJ Shipbuilding & Construction said in a regulatory filing that it has bagged the order from the Defense Acquisition Program [...]
SEOUL, Nov. 24 (Korea Bizwire) — Lotte Group is quickly responding to the liquidity squeeze of its construction unit amid concerns that the construction unit’s liquidity problem, caused by the recent bond market crunch, could spill over to other parts of the group. Lotte Engineering & Construction Co. carried out a 200 billion won (US$149 [...]
SEOUL, Nov. 23 (Korea Bizwire) — Nongshim Co., a major South Korean producer of snacks and instant noodles, said Wednesday it has won a bid to export a smart farm system to Oman, marking the first sale since it formed a dedicated in-house startup for the business in 2018. The Omani government has decided to [...]
SEOUL, Nov. 22 (Korea Bizwire) — Major South Korean companies’ inventories spiked nearly 36 percent in the first nine months of this year amid a global economic slump, a corporate tracker said Tuesday. Combined inventories of 195 out of the country’s top 500 firms by sales came to 165.4 trillion won (US$122 billion) as of [...]
SEOUL, Nov. 22 (Korea Bizwire) — The convenience store industry is striving to play a greater role in public safety amid growing public interest in the response to emergency situations after the Itaewon disaster. CU recently signed a memorandum of understanding with security service provider S-1 Corp. to establish emergency medical equipment-related public services. Under [...]
SEOUL, Nov. 21 (Korea Bizwire) — A growing number of employees are flocking to company cafeterias to minimize spending on food. South Korean food service company Ourhome Ltd.’s October sales for office cafeterias in Seoul jumped by 34.7 percent from last year. Sales at company cafeterias in business districts like Gangnam and Yeouido, in particular, [...]
SEOUL, Nov. 21 (Korea Bizwire) — Sales of Korean-style corn dog, which already doubled last year, continue to rise, data showed Sunday. The state-run Korea Agro-Fisheries Trade Corp. reported that exports of frozen food products reached US$45.3 million last year, up 99.5 percent from a year earlier. Corn dog exports stood at a mere $120,000 [...]
SEOUL, Nov. 21 (Korea Bizwire) — Greece placed the largest ship orders in South Korea this year, remaining a buttress for the nation’s shipbuilding industry, data showed Sunday. Greek shipowners have placed orders for 52 ships totaling 2.05 million compensated gross ton (CGT) from Korean shipyards so far this year, according to global market researcher [...]
SEOUL, Nov. 17 (Korea Bizwire) — South Korean business leaders met Saudi Arabia’s Crown Prince Mohammed bin Salman in Seoul on Thursday to discuss business cooperation, including the construction of a futuristic mega city. Samsung Electronics Executive Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won and Hyundai Motor Group’s Chairman Euisun Chung were among the [...]