SEOUL, April 19 (Korea Bizwire) — POSCO Group, South Korea’s top steelmaker, said Wednesday it is planning to invest more than 4 trillion won (US$3.04 billion) over the next decade to build new growth engine facilities at its plant in a state industrial park on the southwest coast. Seoul is pushing to drastically lift restrictions [...]
SEOUL, April 19 (Korea Bizwire) — The price of the luxury apple mango bingsu sold at high-end hotels has exceeded 100,000 won. Bingsu is a traditional Korean ice dessert topped with red beans, which comes in a bowl of shaved frozen milk or condensed milk, resembling fluffy snow, with various toppings of choice. The Four [...]
SEOUL, April 19 (Korea Bizwire) — The market value of listed firms in South Korea swelled nearly 14 percent in the first quarter of 2023, with Samsung Electronics Co. retaining its top-cap status, a corporate tracker said Wednesday. The market capitalization of 2,558 companies listed on the country’s main and secondary bourses came to 2,291 [...]
SEOUL, April 17 (Korea Bizwire) — South Korean fried chicken franchise Genesis BBQ Co. said Monday it has recently opened its first shop in Florida as part of efforts to tap deeper into the American market. The shop has opened in Tampa, one of the most populous areas in the southeastern U.S. state. The Tampa [...]
SEOUL, April 17 (Korea Bizwire) — As the government pushes to create a work-life balance environment as part of its efforts to cope with the low fertility rate and population aging, South Korea’s major companies are accelerating their efforts to support their employees’ work-life balance. Samsung Electronics Co. offers paid paternity leave of 15 days (20 days [...]
SEOUL, April 15 (Korea Bizwire) — Sales of hangover relievers have increased due to an increase in drinking parties as COVID-19 becomes endemic. Pills, sticks, and jelly products have become popular among the MZ generation as they are simpler and more delicious than the drink formulation. Sales of drinks increased by 61.6% year-on-year, but jelly [...]
SEOUL, April 14 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said Thursday that it has succeeded in automating its molten metal pre-treatment process. According to the company, the third steel mill located in Pohang, 372 kilometers southeast of Seoul, has developed an automation system for the molten metal pre-treatment process, ranging from limestone injection [...]
BUSAN, April 14 (Korea Bizwire) — Farmer Kim Kyung-yang is harvesting rice for the first time this season in the Busan area on Friday morning, at his rice field located in Jukdong-dong, Gangseo-gu, Busan. The first variety to be planted in his field is Hae Dam rice, an early season type that will have a [...]
SEOUL, April 14 (Korea Bizwire) —Homeplus, a large discount store in South Korea, has reported a 36% increase in sales of its own-brand “Homeplus Signature” products from January to March compared to the same period last year. The sales of private label products were particularly high in food categories such as refrigerated convenience foods, snacks, [...]
BORYEONGL, April 14 (Korea Bizwire) —Three seafood vendors have been arrested by the Boryeong Coast Guard Station for falsely labeling Japanese red sea bream as domestic seafood. The vendors were suspected of violating the Country of Origin Labeling Act, and anyone who falsely labels the origin of a product can face up to seven years [...]