Korea Times Business Reporter
Covering the food & beverage industry, beauty, fashion, retail markets, the Ministry of Land, Infrastructure and Transport, the Ministry of Agriculture, Food and Rural Affairs and related people and entities worldwide
Korean traditional honey cookies, known as "yakgwa," have become the flagship product of over 53 Korean desserts and finger foods to be showcased at a global food expo in Germany next month, according to SPC Samlip, Thursday.
Asiana Airlines CEO Won Yu-seok, second from left, poses with Korea Management Association Consultants President and CEO Han Soo-Hee, third from left, at The Shilla Seoul hotel, Thursday, after the airline won the Korean Customer Satisfaction Index Award 2023's flight category. The recognition was based on the airline's expansion of international routes following the end of the COVID-19 pandemic, as well as campaigns to encourage the public to travel, introducing new promotional events with hotels, banks and shopping malls, using recycled products and getting involved in social activities. Courtesy of Asiana Airline
Hotel Shilla's luxury resort in Da Nang has won recognition at this year's World Travel Awards by winning the Asia's Leading Lifestyle Resort category, the country's major hotel chain said Thursday.
Minister of Trade, Industry and Energy Bang Moon-kyu, center, speaks to an employee at Saeul Nuclear Power Plant in Ulju County in Ulsan, Wednesday. Courtesy of Ministry of Trade, Industry and EnergyBy Ko Dong-hwanKorea's new Minister of Trade, Industry and Energy Bang Moon-kyu visited a nuclear power plant under construction in Ulsan and a Busan port for his first day on the job, signaling the ministry's priorities under his watch.Starting his duty on Wednesday, Bang visited Saeul Nuclear Power Site in the southeastern coastal city of Ulsan and Busan New Port, the biggest port in Busan which sees 63 percent of the country's overall maritime international trade.Saeul power plant has two APR1400 reactors, the same model exported to the United Arab Emirates for the Barakah nuclear energy plant in Abu Dhabi. Reactors 1 and 2 at the plant are also the first APR1400s in Korea. Reactors 3 and 4 are currently under construction. Their construction was previously suspended during the previous Moon Jae-in administration when tensions divided the country on whether nuclear power should be aban
A researcher works at CBM's viral vector researching facility in Philadelphia, Pennsylvania, the U.S. Courtesy of SK pharmtecoBy Ko Dong-hwanSK pharmteco's acquisition of American genetic medicine developer CBM has given the Korean firm an advantage in the principal genetic medicine markets in the U.S. and Europe, according to SK Group.SK, one of Korea's biggest conglomerates, said Wednesday its contract development and manufacturing organization (CDMO) subsidiary has acquired the Center for Breakthrough Medicines (CBM), a Philadelphia-based American CDMO for cell gene therapy (CGT). CGT is an emerging bio-medicinal technology that is anticipated to provide highly effective medicinal treatment.With the acquisition, SK pharmteco has prepared for itself complete pipelines for the development and mass production of chemical drugs and CGT in the world's two biggest medicine markets. The production capacity upgrade has placed SK among the world's five CDMOs with such infrastructure. In 2021, SK pharmteco expanded its European production capacity by acquiring Yposkesi, a French CDMO. CBM h
Reactor 4 at the Barakah Nuclear Power Plant in Abu Dhabi, the United Arab Emirates / Courtesy of Korea Electric Power CorpBy Ko Dong-hwanA U.S. court ruling in favor of two Korean state-run utility companies on Monday (local time) is expected to boost Korea's bid to export nuclear reactors to the Czech Republic and other countries, according to industry officials and experts, Tuesday.The District Court for the District of Columbia dismissed a lawsuit filed last October by Westinghouse Electric, a Pennsylvania-based American energy firm, against Korea Hydro & Nuclear Power (KHNP), the country's nuclear reactor operator, and Korea Electric Power Corp (KEPCO), the state-run utility firm. The U.S. court, upon the ruling, said Westinghouse lacks a “private cause of action” to enforce Part 810 and thus has failed to state a claim. Westinghouse filed the suit to prevent KHNP from transferring technical information on reactor designs to other countries including the Czech Republic and Poland. The U.S. firm claimed it has licenses which prevent its Korean rival from the intel
Minister of Land, Infrastructure and Transport Won Hee-ryong, front row fifth from left, poses with International Contractors Association of Korea Chairman Park Sun-ho, front row right, and Hyundai Engineering & Construction CEO Yoon Young-joon, front row second from left, as well as ministers and CEOs from 24 countries and foreign envoys in Korea during the opening ceremony for the 11th Global Infrastructure Cooperation Conference at Grand InterContinental Seoul Parnas Hotel in Seoul, Tuesday. Yonhap
Samsung Electronics Executive Chairman Lee Jae-yong, right, and his mother Hong Ra-hee, second from right, attend the 30th anniversary of Samsung Fire & Marine Insurance Guide Dog School, founded by late Samsung Chairman Lee Kun-hee, in Yongin, Gyeonggi Province, Tuesday. Courtesy of Samsung ElectronicsBy Ko Dong-hwanSamsung Group on Tuesday celebrated the 30th anniversary of a guide dog school founded by its late chairman, Lee Kun-hee. The event's human participants honored Lee, while dogs at the beginning ― or end ― of their guide careers received the limelight.The event at Samsung Fire & Marine Insurance Guide Dog School in Yongin, Gyeonggi Province, was attended by people using the guide service, volunteers who train puppies and others who have adopted retired guide dogs. The Minister of Health and Welfare Cho Kyoo-hong, Samsung Fire CEO and President Hong Won-hak and lawmakers were present at the event.William Thornton, CEO of the International Guide Dog Federation (IGDF), presented a plaque to the company during the event. Four visually impaired users of the service san
A general shareholders' meeting is held at Korea Electric Power Corp. headquarters in Naju, South Jeolla Province, Monday, to nominate the company's new CEO. YonhapBy Ko Dong-hwanKim Dong-cheol was nominated CEO of KEPCO in Monday's shareholders' meeting. YonhapThe nominee for CEO of Korea Electric Power Corp. (KEPCO) is facing a range of daunting tasks as the public utility firm grapples with snowballing debt as a result of selling electricity at lower prices than its production costs, according to industry officials, Monday.The nomination of former politician Kim Dong-cheol was approved at the firm's extraordinary shareholders meeting to fill the top executive post that has been remaining vacant since May. Kim, who had served four terms as a lawmaker, now awaits final approval from President Yoon Suk Yeol as the minister of trade, industry and energy is set to forward the appointment to the president.The nominee has a bevy of issues to resolve, including the astronomical debt, which has grown to 200 trillion won ($151 billion), and an upcoming power rate hike that is feared by the
Dongsuh Food has been introducing different flavors of Oreo cookies, left, and Ritz crackers to the Korean local market. Courtesy of Dongsuh Food By Ko Dong-hwanDongsuh Food is promoting the world-famous cookie and cracker brands Oreo and Ritz this year with its own recipes to celebrate their decades of global popularity. The major Korean food brand has been introducing variant flavors of America's Oreo cookies and Ritz crackers to Korean local shelves. This year, the company launched new flavors to celebrate Oreo's 111th anniversary and Ritz marking its 90th anniversary in three years. On May 25, Dongsuh launched a pop-up store in Seoul to celebrate Oreo Day. Referring to the day as the famous cookie's birthday, the company set up the store in Seongdong District's trendy Seongsu-dong for a month. Some 35,000 people dropped by the store that promoted the cookie, which Euromonitor International, a London-based consumer market researcher, selected as the top brand of