SEOUL, Jun. 13 (Korea Bizwire) — GS Caltex Corp., South Korea’s second-biggest refiner by sales, said Thursday it has signed an initial pact to supply a cosmetics ingredient to a Japanese company in its business diversification strategy. GS Caltex has signed a memorandum of understanding (MOU) with Summit Cosmetics Corp. to provide 2,3-Butanediol under the [...]
SEOUL, Jun. 13 (Korea Bizwire) – Denmark has decided to recall three popular varieties of South Korea’s Samyang Foods “Buldak” fire chicken noodles, asserting that the products’ high levels of capsaicin, the compound that gives chili peppers their heat, pose a risk of acute intoxication for consumers, the British Broadcasting Corporation reported on June 11. In [...]
SEOUL, Jun. 12 (Korea Bizwire) — South Korea’s antitrust regulator said Wednesday it has launched a review of chip design software giant Synopsys Inc.’s proposed acquisition of engineering software firm Ansys Inc. The U.S.-based software maker said in January that it struck a US$35 billion deal to buy Ansys, an American firm that makes software [...]
SEOUL, Jun. 12 (Korea Bizwire) – The South Korean Ministry of Science and ICT has convened a special task force to bolster the flagging competitiveness of the nation’s home shopping industry, it announced on June 11. The move comes as the industry has stagnated amid the rapid growth of domestic and international e-commerce platforms and shifts [...]
SEOUL, Jun. 11 (Korea Bizwire) — Domestic construction companies’ combined orders from the Middle East amounted to nearly US$10 billion so far this year, recording stellar growth from 2023, industry data showed Tuesday. According to the data from the International Contractors Association of Korea, domestic builders’ project orders from the Middle East amounted to $9.98 [...]
SEOUL, Jun. 11 (Korea Bizwire) — The industry ministry kicked off an annual food exhibition Tuesday as part of efforts to achieve a target of US$10 billion in food exports this year. The four-day Seoul Food 2024 will run in Goyang, just northwest of Seoul, through Friday, attracting 1,605 businesses from 52 countries, according to [...]
SEOUL, Jun. 11 (Korea Bizwire) — Genesis BBQ, a South Korean chicken franchise, said Tuesday it has opened its third outlet in Panama. Genesis BBQ has opened a total of seven outlets in Panama and Costa Rica since October last year, the company said in a statement. “The company aims to expand into other Latin [...]
SEOUL, Jun. 10 (Korea Bizwire) — South Korea’s major shipbuilder Hanwha Ocean Co. said Monday it has launched a new wind turbine installation vessel (WTIV). Ordered by Cadeler Inc. in 2021, the WTIV measures 148 meters in length and 56 meters in width. It is capable of sailing while carrying five offshore wind turbines, each [...]
SEOUL, Jun. 10 (Korea Bizwire) — Users of Naver Papago, the South Korean online portal operator’s artificial intelligence-powered translation service, have steadily increased, topping 20 million last month on overseas demand, industry sources said Monday. The number of Papago’s monthly active users (MAUs), both for app and web versions, reached 20.74 million in May, up [...]
SEOUL, Jun. 10 (Korea Bizwire) — South Korea’s exports to the United States exceeded those to China so far this year, data showed Monday, raising the possibility that the U.S. could be the top export destination for South Korea for the first time in 22 years. Outbound shipments to the U.S. amounted to $53.3 billion [...]