SEOUL, Sept. 7 (Korea Bizwire) — Women tend to buy home meal replacement (HMR) products mainly at offline stores and supermarkets, while men typically purchase them at unmanned stores, data showed Tuesday. Lotte Members, the membership service for Lotte Group companies, analyzed data on HMR product transactions at offline stores and supermarkets for the period [...]
SEOUL, Sept. 6 (Korea Bizwire) – Lotte Confectionery Co., a major South Korean snacks and ice cream maker, said Tuesday it has signed an initial agreement with Canada’s Aspire Food Group as part of its push to tap into the emerging insect protein market. Under a memorandum of understanding inked on Aug. 31, the two [...]
SEOUL, Sept. 6 (Korea Bizwire) — The Korean Register of Shipping (KR), South Korea’s ship quality assurance and risk management company, said Monday it had signed an agreement with Hyundai Heavy Industries Co., Avikus and the Liberian International Ship & Corporate Registry (LISCR) to carry out a joint study on the application and approval of [...]
SEOUL, Sept. 5 (Korea Bizwire) — POSCO International Corp., a South Korean commodities trader, said Monday its shipment of Ukrainian corn departed from a port in the war-torn country and will arrive home later this month. A vessel carrying 61,000 tons of corn left Pivdennyi Port in Ukraine on Aug. 16 and is on its [...]
SEOUL, Sept. 2 (Korea Bizwire) — A civic group filed a complaint against Starbucks Coffee Korea on Friday in connection with giveaway picnic bags found to contain toxic chemicals. The company came under fire in July after formaldehyde, a carcinogen, was detected in “summer carry bags,” which it provided to customers who purchased 17 drinks [...]
SEOUL, Sept. 2 (Korea Bizwire) — Duty-free sales in South Korea sank nearly 15 percent to a six-month low in July due to decreased spending by foreigners, industry data showed Friday. Combined sales at duty-free shops in Asia’s fourth-largest economy stood at 1.25 trillion won (US$920 million)) in July, down 14.6 percent from a month [...]
SEOUL, Sept. 1 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Thursday it has been chosen to carry out a state-funded project to develop South Korea’s first hydrogen fuel cell tugboat. Under a deal signed with the government, DSME said it will develop a 3-megawatt-class battery-fuel cell tugboat based on its remote [...]
SEOUL, Aug. 31 (Korea Bizwire) — After narrowing during the COVID-19 pandemic, the wage gap between employees of large companies and small and medium-sized enterprises (SMEs) is showing signs of expanding again due to the rapid recovery of large companies’ wage growth rate. The wage level of SMEs in proportion to that of large companies [...]
SEOUL, Aug. 30 (Korea Bizwire) — South Korea’s rice paddy area inched down 0.7 percent in 2022 from last year as farmers opted to grow other crops due to falling prices of the staple grain, data showed Tuesday. The country’s rice cultivation area came to 727,158 hectares — slightly more than half the size of [...]
SEOUL, Aug. 30 (Korea Bizwire) — Retail sales in South Korea rose 9.7 percent on-year in July amid eased COVID-19 curbs and the growth in people’s outdoor activities, the industry ministry said Tuesday. The combined sales of 25 major offline and online retailers came to 14.17 trillion won (US$10.48 billion) last month, compared with 12.9 [...]