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Ko Dong-hwan

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Travel & Food

CJ CheilJedang sells Bibigo Seaweed Snack in UK

CJ CheilJedang's Bibigo Seaweed Snack is now available in U.K.'s Asda and Ocado. Courtesy of CJ CheilJedangBy Ko Dong-hwanA Korean seaweed snack is stimulating the taste buds of British consumers. Bibigo, a pre-cooked product brand belonging to CJ CheilJedang, has launched its Seaweed Snack via the U.K.'s major local distribution channels of Asda and Ocado, according to the major Korean food company, Thursday. The market expansion following the product's debut in the U.K. market last October has made the increasingly popular product available throughout all regions of the country online and in stores. The product helped the brand's sale of its entire range of seaweed products in the U.K. Sales have jumped 61 percent as of last July, compared to last year. In conjunction with the product's popularity, it has also recently been recognized in the country's Great Taste Awards, which evaluates some 15,000 products from around the world every year and chooses what is worth trying. Held last month, the award selected the Seaweed Snack's Hot Chili flavor and rated it one star. The highest ra

Sep 14, 2023By Ko Dong-hwan
CJ CheilJedang sells Bibigo Seaweed Snack in UK
Economy

Industry minister nominee blames anti-nuclear energy policy for KEPCO's rising debt

Minister of Trade, Industry and Energy nominee Bang Moon-kyu speaks during a parliamentary confirmation hearing at the National Assembly in Seoul, Wednesday. YonhapBy Ko Dong-hwanThe controversial nuclear phase-out policy pushed by the previous Moon Jae-in administration is one of the main culprits for snowballing debt at Korea Electric Power Corp. (KEPCO), the state-run utility firm, Minister of Trade, Industry and Energy nominee Bang Moon-kyu told lawmakers, Wednesday.During a parliamentary confirmation hearing, Bang said the “problematic” energy policies of Moon which supported renewable energies brought down the price of distributed electricity to an inappropriately low level, causing KEPCO's debt to snowball to an unprecedentedly high 201.4 trillion won ($151 billion). In the hearing led by the National Assembly's Trade, Industry, Energy, SMEs, and Startups Committee, Bang said the Moon administration had closed six nuclear reactors, causing a reduction of power grid productivity, and curbed the number of new nuclear reactors. It was his response to main opposition D

Sep 13, 2023By Ko Dong-hwan
Industry minister nominee blames anti-nuclear energy policy for KEPCO's rising debt
Companies

Paris Baguette to open 150th store in North America

From top left clockwise, Paris Baguette's Broadway store in Manhattan; Lexington Avenue store in Manhattan; Yonge Sheppard Centre store in Toronto; University City District store in Philadelphia; Los Angeles downtown store in California; and Red Bank store in New Jersey / Courtesy of SPC By Ko Dong-hwanSPC's Paris Baguette is set to open nine more shops in the United States and Canada this month marking the milestone 150th store opening for the major Korean bakery brand's North America operations.SPC, Korea's major food company, will open Southpark on Whyte, the second Paris Baguette in Canada, in Edmonton in Alberta Province, on Thursday. The third store, Newmarket East, will open in Newmarket, Ontario, on Sept. 22, now under the company's direct management.Paris Baguette opened its first Canadian store in Toronto last March.In the United States, seven additional stores are on their way. North Carolina will see the earliest opening this month, while the rest will o

Sep 13, 2023By Ko Dong-hwan
Paris Baguette to open 150th store in North America
Tech & Science

LG Energy Solution to triple ESS sales in 5 years' time via US expansion

LG Energy Solution's booth at RE+ 2023 in Las Vegas, the United States / Courtesy of LG Energy SolutionBy Ko Dong-hwanLG Energy Solution (LGES)'s goal to dominate the world's energy storage system (ESS) market has taken a step forward by showcasing its latest technologies at an international exhibition in the United States. RE+ 2023, the biggest renewable ESS exhibition in the U.S., has introduced the Korean company to almost 1,300 other enterprises from around the world, who are involved in the ESS development and production industry. The exhibition in Las Vegas runs from Monday to Thursday, local time. LG considers the U.S. as the world's fastest-rising ESS market. Wood Mackenzie, the U.K.-based energy research and consulting firm, predicted that the American ESS market will grow from 12 Gigawatt hours (GWh) in 2022 to 103 GWh by 2030, nearly a tenfold increase. At RE+ 2023, the Korean firm has prepared its booth to promote its capabilities in developing and producing world-leading ESS products. LG exhibited its latest ESS products including modular-type water cooling container pro

Sep 12, 2023By Ko Dong-hwan
LG Energy Solution to triple ESS sales in 5 years' time via US expansion
Economy

Gov't scrambles to increase housing supply amid looming shortage

New apartments are under construction in Gwangju in this Nov. 30, 2022, file photo. YonhapBy Ko Dong-hwanThe government appears to be scrambling to come up with measures for increasing the housing supply as concerns are growing that the nation may face a shortage of homes within a few years due to a drop in the number of housing projects amid high interest rates and rising construction costs, according to industry officials, Tuesday.To pave the way for introducing more apartments and other residential buildings while keeping local real estate prices from skyrocketing, the Ministry of Land, Infrastructure and Transport said it will unveil a plan before the Chuseok holiday, which starts on Sept. 28.Land Minister Won Hee-ryong said Monday the ministry “should be the most responsible” for the country's real estate market and he will focus mainly on preventing a possible housing supply shortage before finalizing and announcing the new plan.The minister said the new plan isn't to spur housing demand in the present market. Revising laws on real estate property taxes takes too lo

Sep 12, 2023By Ko Dong-hwan
Gov't scrambles to increase housing supply amid looming shortage
Companies

Pulmuone runs local food industry's first hydrogen truck

A hydrogen truck deployed by Pulmuone is parked at the company's logistics depot in Eumseong County, North Chungcheong Province, Wednesday. Courtesy of PulmuoneBy Ko Dong-hwanPulmuone has deployed the local food industry's first hydrogen truck to reduce the company's emissions and contribute to the country's carbon neutralization goal, the food company said Monday.It said two 11-ton hydrogen trucks have been rolled out this month to transport room-temperature products like dried seaweed and dried noodles. It chose the eco-friendly vehicles over cheaper diesel-based trucks to strengthen its environmental, social and corporate governance (ESG).Made by Hyundai Motor and sold at a competitive cost subsidized by the Ministry of Environment, the trucks can travel up to 370 kilometers per day without emitting greenhouse gases. The distance is over 32 percent more than the 280 kilometers of smaller combustion-engine trucks with 1- to 3-ton capacities. They also recharge at a faster speed than conventional electric vehicles, according to the company.Pulmuone said it estimates the new hydrogen

Sep 11, 2023By Ko Dong-hwan
Pulmuone runs local food industry's first hydrogen truck
Tech & Science

Korea to set global standards for human brain-computer interface data

This undated photo shows Nathan Copeland, who is quadriplegic, controlling a robotic arm through electrodes implanted in his brain at the University of Pittsburgh, Pennsylvania. YonhapBy Ko Dong-hwanThe government is set to lead global standardization of interface data between the human brain and computers, hoping that the new standards for the innovative technology will give the country an upper hand in the highly anticipated industry, according to officials, Monday.The Korean Agency for Technology and Standards (KATS) under the Ministry of Trade, Industry and Energy said its new proposal on the idea has been accepted by the joint technical committee of the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) on brain-computer interface (BCI). The committee held its latest plenary meetings in Hangzhou, China, on Sept. 4 to 7 and approved the Korean agency's proposal.Connecting human brains directly to computers without any intrusive measures, BCI is a fledgling but promising field that will allow humans to physically control ma

Sep 11, 2023By Ko Dong-hwan
Korea to set global standards for human brain-computer interface data
Companies

Hyundai Motor's vehicle sales in Russia come to standstill

Hyundai Motor's plant in St. Petersburg, Russia / Courtesy of Hyundai MotorBy Ko Dong-hwanHyundai Motor saw its sales plunge to an all-time low in Russia last month, according to the Association of European Business (AEB), Sunday. The association said Hyundai Motor sold only six vehicles in August, which accounts for 0.01 percent of the Russian market share, down 99.9 percent from 2,982 cars a year earlier.“I'm not quite sure if the company managed to sell even six,” an automobile industry official said. “It is virtually kicking the dirt there.”The carmaker sold 1,605 cars in Russia during the first eight months this year, a 96.5 percent-drop from the same period last year. The largely botched business this year allowed the company just 0.4 percent of the Russian market share. Hyundai's lackluster performance is as dramatic as its former prominence in the market before the Russian Invasion of Ukraine in February last year. With its factory in St. Petersburg ― the only one in Russia ― pipelining 220,000 vehicles each year, including popular models like Solaris

Sep 11, 2023By Ko Dong-hwan
Hyundai Motor's vehicle sales in Russia come to standstill
Economy

Diesel car owners nervous as China limits exports of urea

An employee at a supermarket in Seoul checks stocks of liquid urea on shelves, Friday. YonhapGov't downplays supply concernsBy Ko Dong-hwanDiesel car owners and retailers selling liquid urea in import-dependent Korea are concerned about a possible shortage of the substance after news reports surfaced that China has limited exports of the organic compound, according to industry officials, Sunday. However, the government has downplayed the concerns, dismissing the possibility that the country's urea import routes will be blocked. Officials assured the public that the nation has enough urea stocks for the next two months and further needs will be secured without any difficulty.Local concerns arose following news reports from outside the country last week saying the Chinese government has suspended a local fertilizer producer from exporting urea for fertilizers. Korea imports up to 17 percent of its urea for fertilizers from China and the rest from other countries like Qatar and Saudi Arabia. But when it comes to urea for diesel vehicles and other industrial purposes, Korea depends on Ch

Sep 10, 2023By Ko Dong-hwan
Diesel car owners nervous as China limits exports of urea
Economy

Rise in oil price clouds Korea's economic prospects: KDI

Containers are being unloaded from ships at Busan Port, Sept. 1. YonhapBy Ko Dong-hwanKorea's near-future economic outlook doesn't look good, a predicament caused largely by outside factors such as rising oil prices and China's domestic woes that are increasing global economic instability, according to a state-run think tank, Thursday. The Korea Development Institute (KDI) noted in its monthly economic analysis that the national economy was experiencing a slight easing in export contraction but external uncertainties were also intensifying. It said the country's manufacturing production was picking up speed, thanks to the semiconductor sector, while services hadn't been derailed much from its modest growth path. The report said, however, that domestic and international economic uncertainties were escalating mostly because of heightened concerns over China's economic instability and increasing inflationary pressures due to rising international oil prices.“The Chinese economy faces growing downside risks, such as financial instability in its real estate firms and sluggish real es

Sep 7, 2023By Ko Dong-hwan
Rise in oil price clouds Korea's economic prospects: KDI
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