SEOUL, Oct. 17 (Korea Bizwire) — South Korea’s leading beverage maker Hite Jinro Co. said Monday its flavored soju is being sold at 17 Costco stores in the United States amid the company’s increased efforts to penetrate the U.S. market. Since the company made its products available at the Costco Yonkers branch in New York, [...]
SEOUL, Oct. 17 (Korea Bizwire) — South Korea’s retail giants are invigorating efforts to dominate the second-hand transaction market, and this focus is expected to accelerate further with Naver Corp. poised to make an entry. The internet portal giant is reviewing the idea that its recently acquired Poshmark Inc., a U.S. social commerce platform specializing [...]
SEOUL, Oct. 14 (Korea Bizwire) — POSCO Group, South Korea’s top steelmaking group, on Friday broke ground for a plant that refines high-purity nickel to be used for electric vehicle batteries in a move to further solidify its secondary battery material business. The facility with an annual production of 20,000 tons of high-purity nickel, a [...]
SEOUL, Oct. 13 (Korea Bizwire) — South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Thursday it has signed a business tie-up agreement with a U.S. energy company on the development of technologies for a large liquid hydrogen carrier. The deal with CB&I, a unit of U.S. energy engineering and construction solutions provider [...]
SEOUL, Oct. 11 (Korea Bizwire) — BAT Rothmans, the Korean arm of British American Tobacco, claimed Tuesday its tobacco heating device glo can reduce health risks of traditional cigarettes in a move to convince lawmakers and the public to ease regulations on e-cigarettes. Glo is a tobacco heating product brand produced by British American Tobacco [...]
SEOUL, Oct. 7 (Korea Bizwire) — South Korea’s exports of farm and fisheries products grew 11.4 percent on-year for the first nine months of this year on solid overseas demand for Korean food, data showed Friday. Outbound shipments of agricultural and fisheries goods came to US$9.11 billion in the January-September period, representing the largest-ever tally [...]
SEOUL, Oct. 7 (Korea Bizwire) — South Korean shipbuilders bagged nearly 60 percent of new global ship orders in September to take the top spot in the world, industry data showed Friday. Local shipyards, led by Hyundai Heavy Industries Co., clinched 1.32 million compensated gross tons (CGTs) in new orders for 22 vessels last month, [...]
SEOUL, Oct. 7 (Korea Bizwire) — South Korean steel giant POSCO has participated in an academic-industry research cooperation drive to develop new technology for recycling by-product gases generated during the steel-making process as plastic materials on the basis of existing carbon dioxide capture and utilization technologies. The company on Thursday inaugurated the Center for Low-Carbon [...]
SEOUL, Oct. 6 (Korea Bizwire) — South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Thursday it has finished testing an onboard carbon dioxide (CO2) capture and storage (OCCS) unit. The new system has been tested on a liquefied natural gas (LNG) carrier and is expected to help reduce greenhouse gas emissions, DSME [...]
SEOUL, Oct. 6 (Korea Bizwire) — U.S. burger franchise Five Guys Burgers and Fries is coming to Seoul next year, Galleria department store said Thursday. The luxury retailer owned by Hanwha Solutions said it inked an initial agreement with the Virginia-based burger chain Wednesday to operate the Five Guys brand in South Korea. The first [...]