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LG Chem Develops World’s First Single-source Biodegradable Material

LG Chem Develops World’s First Single-source Biodegradable Material

SEOUL, Oct. 20 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, has succeeded in developing a new single-source biodegradable material for the first time in the world. The company announced on Monday that it succeeded in in-house development of the new material by using corn-based glucose and waste glycerol that features a [...]

Retail Giants’ Sales Dip Over 2 tln Won This Year amid Pandemic: Poll

Retail Giants’ Sales Dip Over 2 tln Won This Year amid Pandemic: Poll

SEOUL, Oct. 19 (Korea Bizwire) — Combined sales by South Korea’s retail giants are estimated to have declined more than 2 trillion won (US$1.75 billion) on-year in the first nine months of this year on the fallout of the COVID-19 pandemic, a poll showed Monday. Industry leader Lotte Shopping and its rivals Shinsegae and Hyundai [...]

Transactions of Secondhand Items Soar amid Dampened Consumer Sentiment

Transactions of Secondhand Items Soar amid Dampened Consumer Sentiment

SEOUL, Oct. 19 (Korea Bizwire) — Amid sluggish consumer spending resulting from the outbreak of the COVID-19 pandemic, transactions of secondhand items are growing at a rapid pace. Consumers with thinner wallets are increasingly looking for cheap used items rather than buying new ones, while liquidating the items that they don’t use for cash. According [...]