SPC invited to Macron’s exclusive dinner in Paris

South Korean bakery giant SPC Group said Wednesday that President Hur Jin-soo attended a dinner banquet hosted by French President Emmanuel Macron at Elysee Palace in Paris earlier this week. He was the only Korean business leader to be invited to the exclusive event marking the 60th anniversary of SIAL Paris, one of the world’s largest food trade fairs. The dinner brought together around 40 global business leaders from major food and distribution companies, including the Netherlands&rsquo

Oct. 23, 2024

Daewoo E&C eyes bigger footing in Indonesia

Daewoo Engineering & Construction Chairman Jung Won-ju met with former Indonesian President Joko Widodo to explore new business ventures in the country, the company said Tuesday. The meeting took place at the presidential palace, Istana Merdeka, in Jakarta on Friday -- the last day of Widodo's term. During the meeting, Jung expressed appreciation for Widodo’s presidency which has enabled Indonesia to achieve steady economic growth through development policies related to social i

Oct. 22, 2024

APR expands K-beauty influence in Hong Kong

South Korean beauty company APR announced Tuesday that it has strengthened its presence in Hong Kong’s competitive market through strong sales from both a pop-up store and a major e-commerce platform. Earlier this month, APR’s flagship skincare brand, Medicube, launched on HKTVmall, Hong Kong’s largest online shopping platform, generating 180 million won in sales within just three days. The brand’s success continued with live broadcasts featuring popular products like the

Oct. 22, 2024

8 out of 10 companies support raising retirement age: survey

Eight out of 10 businesses support a proposal to raise the mandatory retirement age for employees, currently set at 60, according to a survey released Monday. The survey, conducted by online recruiter Saramin among 461 companies, also found that the preferred new retirement age averages 65.7 years, with more than half of respondents, 57.9 percent, choosing 65 as the ideal age. Support for allowing older workers to stay in the workforce longer is gaining momentum in South Korea, as the country is

Oct. 22, 2024

Doosan attempts business restructuring plan again

Doosan Group announced Monday a revised business realignment plan to go ahead with its earlier bid to incorporate Doosan Bobcat into Doosan Robotics as a subsidiary as the conglomerate looks to create better synergy between its affiliates to expand businesses. The two boards of Doosan Enerbility, the parent company of Doosan Bobcat with a 46 percent stake in Doosan Bobcat, and Doosan Robotics approved the plan to spin off a new company that will own Doosan Bobcat’s shares from Doosan Enerb

Oct. 21, 2024

Hanjin Logistics eyes bigger footing in Eurasisa

Hanjin Logistics, an affiliate of South Korean airline-to-logistics conglomerate Hanjin Group, said Monday that it is strengthening its logistics business in Eurasia, with a particular focus on Uzbekistan. According to the company, Hanjin Logistics CEO Noh Sam-sug and President and Chief Marketing Officer Emily Cho visited Uzbekistan from Oct. 13 to Tuesday as part of their overseas management initiative. This time, the visit aimed to assess logistics conditions and strengthen relationships with

Oct. 21, 2024

Daewoo E&C wins W1tr plant project in Turkmenistan

South Korean builder Daewoo Engineering & Construction has been selected as the winning bidder for a mineral fertilizer plant project in Turkmenistan, valued at approximately 1 trillion won ($730 million), according to the company Monday. The project involves the construction of a mineral fertilizer plant in Turkmenabat, 450 kilometers east of the capital Ashgabat. The plant will have an annual production capacity of 350,000 tons of phosphate fertilizer and 100,000 tons of ammonium sulfate,

Oct. 21, 2024

LG Chem to develop plant-based cosmetics ingredient

LG Chem said Thursday that it plans to commercialize an eco-friendly ingredient derived from plant-based oils for cosmetic products, becoming the first to do so. The South Korean chemicals giant is set to develop functional cosmetics using 100 percent bio-based 3-hydroxypropionic acid, a compound produced through the microbial fermentation of plant materials. This marks the first time 3HP will be applied as a cosmetics ingredient. While 3HP is considered as an innovative bio-material with vast p

Oct. 17, 2024

Job Korea’s Klik to host networking event for foreign talent

Klik, Korea’s largest foreign talent recruitment service, operated by Job Korea, announced Wednesday that it will host a networking event for international students and job seekers on Oct. 24. Organized to ease the often difficult process of job hunting for foreigners and create stronger ties within Korea’s expatriate community, “Klik Happy Hour” will offer practical tips for job seekers, including guidance on how to effectively use the Klik platform. In addition to infor

Oct. 16, 2024

[Photo news] Deacon whisky debuts in Korea

Pernod Ricard Korea on Tuesday debuted its premium blended Scotch whisky, The Deacon, in collaboration with Sovereign Brands. The whisky blends peaty Islay and fruity Speyside varieties, offering a smoky yet sweet flavor. "The Deacon captures our innovative style, delivering luxury, uniqueness, complexity and balance, while being easy to enjoy," said Brett Berish, CEO and founder of Sovereign Brands, at a showcase event held in Seoul on Tuesday. (Pernod Ricard Korea)

Oct. 15, 2024

Hanwha eyes another shipyard takeover in US

Hanwha Group, South Korea’s defense-to-energy conglomerate, is looking to expand its shipbuilding and maritime businesses in the United States as it appears to be contemplating a second American shipyard acquisition. Mike Smith, who was appointed as the CEO of Hanwha Defense USA in August, a US subsidiary of Hanwha Aerospace, said in Washington last week that Hanwha is “not done” when asked whether Hanwha’s purchase of Philly Shipyard was a one-time deal. Hanwha Group ann

Oct. 15, 2024

Paris Baguette opens 600th overseas store in Canada

The Korean bakery brand Paris Baguette has opened its 600th overseas store, the newest one in Toronto, Canada, just a year after celebrating its 500th store, the brand's company SPC Group announced Tuesday. This new location marks Paris Baguette’s seventh store in Canada. Paris Baguette has been expanding rapidly over the past year, recently securing agreements to enter new markets in Southeast Asia, including Thailand, Brunei and Laos. By the end of this year, the brand plans to open

Oct. 15, 2024

Hyosung chair meets Vietnamese PM in Hanoi

Hyosung Group Chairman Cho Hyun-joon met with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on Monday, seeking government support for the chemical, textile and construction conglomerate’s new business ventures in Vietnam. The meeting focused on Hyosung’s ongoing investments and potential expansion into environmentally friendly and high-tech sectors, the group said Tuesday. Hyosung executives, including Vice Chairman Lee Sang-woon, and senior Vietnamese officials were also in a

Oct. 15, 2024

Samsung Biologics unveils new platform

Samsung Biologics announced Monday that it has launched S-HiCon, a new platform specializing in high-concentration formulation development, designed to meet rising demand for high-concentration biopharmaceuticals. The company officially introduced the platform at Bio Japan 2024, a biotechnology expo held from Wednesday to Friday in Yokohama, Japan. A webinar explaining the platform was also released via the company's official website Monday. S-HiCon is designed to meet increasing market dem

Oct. 14, 2024

JTI Korea takes consumer-centric strategy ahead of heated tobacco launch

Japan Tobacco Group subsidiary JTI Korea is sharpening its focus on a consumer-first approach as it prepares to launch its first heated tobacco product in Korea by year-end, part of the company’s broader strategy to foster sustainable growth amid shifting market conditions, JTI Korea said Monday. As a company that has been recognized as a "Top Employer in South Korea" for five consecutive years, David Wheeler, general manager of JTI Korea, in a message to employees emphasized the

Oct. 14, 2024

Hanwha zeroes in on arms exports to North America

Hanwha Aerospace is gearing up to showcase its latest land weapons systems at the US Army’s Annual Meeting & Exposition, known as AUSA, in Washington, as the Korean defense firm looks to score exports to the North American defense sector, the company said Friday. Hanwha Aerospace plans to display its wheeled self-propelled howitzer, uncrewed transport robotic vehicle and modular charge system at the upcoming arms trade show slated to take place from Monday to Wednesday. In particular,

Oct. 11, 2024

Lotte chief vows sustainable cacao sourcing in Ghana

Lotte Group Chairman Shin Dong-bin, alongside executives from the group's Korean and Japanese subsidiaries, visited Ghana to support the sustainable sourcing of cacao, a key ingredient in their signature chocolate product. As part of the Sustainable Cocoa Bean Project, a joint initiative by Lotte's Korean and Japanese branches, the visit included Lee Young-gu, head of Lotte's food division; Lee Chang-yeop, CEO of Lotte Wellfood; and Genichi Tamatsuka, CEO of Lotte Holdings. Lotte

Oct. 10, 2024

[Herald Interview] NineWatt reveals the simple path to smarter urban energy use

How can cities contribute to achieving carbon neutrality? According to Kim Young-rok, CEO of NineWatt, it is simpler than you might think. “When people think about energy efficiency, they often think of expensive, high-tech solutions,” Kim said. “But before you jump into cutting-edge technologies, the key is to optimize what’s already there -- the buildings you visit every day. The real question is: how do we do that efficiently?” Founded in 2019, NineWatt is a Kore

Oct. 10, 2024

Hanwha Group marks 72nd anniversary as 'great challenger'

Hanwha Group Chairman Kim Seung-youn has reiterated the company's approach to overcoming crises as a “Great Challenger,” expressing the need to take more proactive and leading measures rather than waiting for market conditions to turn favorable. “Driven by unwavering beliefs that do not compromise with the currents of the times and a relentless dedication to being the best, we will overcome the waves of crises and write a new history for Hanwha,” said Kim in a video

Oct. 10, 2024

LS Group on smooth sail for double growth by 2030

LS Group, a South Korean cable and industrial electric machinery conglomerate, is looking to achieve the vision to double its total assets value to 50 trillion won ($37 billion) by 2030 as it welcomes more opportunities for its existing businesses in the era of artificial intelligence while investing in the sectors of batteries, electric vehicles and semiconductors. Since taking the helm of the conglomerate in January 2022, LS Group Chairman Koo Ja-eun has vowed to invest 20 trillion won or more

Oct. 9, 2024