SEOUL, May 18 (Korea Bizwire) — Russia’s invasion of Ukraine and Indonesia’s ban on palm oil exports are leading to spiking prices of raw materials and raising the prices of essential goods like cosmetics and soap. South Korea’s top cosmetics maker AmorePacific Corp. reported that the import price of glycerin used to make cosmetic products [...]
SEOUL, May 2 (Korea Bizwire) — South Korea vowed Monday to strengthen the monitoring of palm oil supplies following Indonesia’s recent ban of its exports amid the continued crisis surrounding Ukraine. Indonesia, the world’s biggest palm oil producer, announced the ban on palm oil exports on April 28, citing a domestic supply squeeze following the [...]
SEOUL, Jan. 18 (Korea Bizwire) — South Korea on Tuesday recommended POSCO International Corp. exercise greater corporate social responsibility over its palm oil business in Indonesia following a complaint by civic groups about its alleged adverse impacts on the environment. The Korean National Contact Point (KNCP) for the Organization for Economic Cooperation and Development (OECD) [...]
SEOUL, Dec. 8 (Korea Bizwire) — POSCO International Corp., the trading arm of South Korean steel giant POSCO, said Wednesday it has set up a holding company in Singapore to further expand its palm oil business overseas. The holding firm, named AGPA, was established last month in the city state and process is under way [...]