SEOUL, July 4 (Korea Bizwire) — Lotte Energy Materials Corp. aims to boost its global market share in high-end copper foil manufacturing to 30 percent over the next five years, with a push to expand its presence in Europe and North America, its CEO said Tuesday. The new copper foil unit under South Korea’s Lotte [...]
SEOUL, July 4 (Korea Bizwire) — South Korea’s food and beverage industry is grappling with difficulties due to the increasing likelihood of the artificial sweetener aspartame being classified as a potential carcinogen. According to a Reuters report, the International Agency for Research on Cancer (IARC), an international organization operating under the World Health Organization (WHO), [...]
SEOUL, July 3 (Korea Bizwire) — POSCO Holdings Inc. said Monday it will invest 121 trillion won (US$92 billion) by 2030 in an effort to boost its competitive edge in steelmaking and new growth engines. South Korea’s leading steelmaker said 73 trillion won — more than 60 percent of the total — will be used [...]
SEOUL, July 3 (Korea Bizwire) — Japanese products are making significant strides in the imported beer market. Previously, Japanese beers experienced a significant decline in market share due to product boycotts, allowing Chinese and Dutch beers to claim the top two spots for the last couple of years. The popularity of Japanese beer is evident [...]
SEOUL, July 3 (Korea Bizwire) — With growing national concern over the discharge of contaminated water from the crippled Fukushima Daiichi nuclear power plant in Japan, domestic companies have shown renewed interest in land-based salmon farming. Global demand for salmon is increasing, but catches have declined due to global warming and the recent “contaminated water [...]
SEJONG, June 30 (Korea Bizwire) — South Korea’s forklift exports jumped nearly 57 percent on-year in the first five months of 2023, data showed Friday, following a rebound in the global construction industry. Exports of forklifts reached US$525 million from January to May this year, reaching a record-high amount for the period, according to the [...]
SEOUL, June 30 (Korea Bizwire) — A series of conglomerate affiliates are carrying out massive capital increases or experiencing credit rating downgrades due to a rise in their financial burden. SK Innovation Co. held a board meeting last week where it decided to increase paid-in capital by 1.18 trillion won (US$901 million) through shareholder allocation [...]
SEOUL, June 29 (Korea Bizwire) — Innocean Worldwide Inc., a major South Korean advertising agency, said Wednesday it will open an instant noodles pop-up store featuring “ramyeon” (Korean instant noodles) at Siam Discovery in Bangkok, Thailand. The pop-up store will operate for five weeks, from now until July 31, and will showcase a selection of [...]
SEOUL, June 29 (Korea Bizwire) — Hanwha TotalEnergies Petrochemical Co. said Thursday it has completed the construction of a pilot line to produce a high functional copolymer used in industrial components like car parts and wire coating. The pilot facility, located in Daesan, about 83 kilometers south of Seoul, will produce polyolefin elastomers (POE) and [...]
SEOUL, June 28 (Korea Bizwire) — As the MZ generation’s interest in soju cocktails continues to rise, beverage companies are reaping the rewards of their sales strategies that capitalize on this trend. The prevalence of soju cocktail culture, combined with the growing trend of mixed drinking and home consumption due to the corona pandemic, has [...]