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Ko Dong-hwan

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

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Companies

Kolmar Korea, Goodai Global renew partnership to target global sunscreen market

Kolmar Korea said Tuesday it has renewed its partnership with Goodai Global to strengthen their presence in the global sunscreen market and further boost the popularity of the latter’s skincare brands. Kolmar Group Vice Chairman Yoon Sang-hyun, Kolmar Korea CEO Choi Hyun-kyu and Yonwoo CEO Park Sang-yong invited Goodai Global officials to Kolmar’s main research center in Seoul’s Seocho District for a forum on Monday. Yonwoo is a Kolmar subsidiary that manufactures cosmetic containers. Also in attendance were Goodai Global President Cheun Ju-hyuk alongside representatives from its globally distributed brands, including Beauty of Joseon, SKIN1004, TIRTIR, Round Lab and House of Hur. Held under the theme “Over the Rainbow of Goodai,” the forum marked a milestone as the sunscreen products jointly developed by the two companies surpassed 100 million units in cumulative global sales. The event reaffirmed the synergy between Kolmar’s original design manufacturing (ODM) capabilities and Goodai Global’s brand strength, highlighting the partnership as a key driver behind the global r

Mar 24, 2026By Ko Dong-hwan
Kolmar Korea, Goodai Global renew partnership to target global sunscreen market
Companies

PHOTO Shinsegae chairman at Starfield Cheongna

Chung Yong-jin, second from left, inspects the Starfield Cheongna construction site in Incheon, Monday. Scheduled for completion in late 2027 and opening in early 2028, the facility will be a megacomplex combining a shopping mall, hotel, swimming pool and a dome stadium that will serve as the home venue for the SSG Landers, a Korea Baseball Organization club owned by the group. With a total floor area of 496,000 square meters, Starfield Cheongna will be the largest in the brand’s network of five malls nationwide. Chung's visit marks his fourth on-site inspection this year, following visits to a Starfield Market branch in Yongin, Starfield Village Unjeong in Paju and an Emart Traders branch in Incheon. Courtesy of Shinsegae Group

Mar 24, 2026By Ko Dong-hwanphoto
[PHOTO] Shinsegae chairman at Starfield Cheongna
Companies

Higher fuel surcharges weigh on airlines, travel firms

Higher fuel costs, driven by the escalating Iran crisis and a weakening Korean won, are placing financial strain on airlines and passengers, forcing carriers to raise fuel surcharges and ticket prices. More travelers in Korea are reconsidering or canceling overseas trips as airfares rise. A soon-to-be-married traveler who had planned to visit Spain in September recently saw her projected travel cost jump from 1.6 million won ($1,061) to 2.4 million won, prompting her to reconsider the trip. Another traveler said a flight to Australia that was priced at 1.03 million won last month rose to 1.5 million won as of last weekend. Naver, the country’s largest online portal and a major e-commerce platform, recently posted a notice warning that airfares could rise by as much as threefold starting in April. It advised customers to book flights by the end of this month before higher fuel surcharges take effect. According to the notice, fares are expected to increase by up to 36,000 won for Osaka, 84,000 won for Bangkok and 196,500 won for Paris routes. The hike reflects a rise in the Mean of Platts

Mar 23, 2026By Ko Dong-hwan
Higher fuel surcharges weigh on airlines, travel firms
Companies

PHOTO Paris Baguette opens at Techo airport

A Paris Baguette store at Techo International Airport in Cambodia opens, March 15. It is the seventh overseas international airport where the bakery brand, operated by Paris Croissant, has expanded, following locations in Singapore, Malaysia and the Philippines. The store also marks the fourth Paris Baguette location in Cambodia, all operated by HSC Group, which signed a master franchise agreement with the Korean company in 2021. The first phase of the Techo airport construction project was completed and unveiled to the public last September. According to the company, the airport has an annual capacity of 13 million passengers. Paris Croissant currently operates 720 Paris Baguette stores across 15 countries. Courtesy of Sangmidang Holdings

Mar 23, 2026By Ko Dong-hwanphoto
[PHOTO] Paris Baguette opens at Techo airport
Companies

PHOTO Genesis BBQ makes South America debut

Customers at BBQ Provenza, at Genesis BBQ’s restaurant in Medellin, Colombia, enjoy UFO Chicken, a fried chicken platter served with cheese fondue, March 14. The 300-square-meter restaurant in the El Poblado area marks the company’s first location in South America. Located at the entrance to Provenza, a popular district in the neighborhood, the outlet reflects the Korean fried chicken franchise’s view of Medellin as a key economic and cultural hub in Colombia, following the capital Bogota. The opening comes as the company expands its global footprint beyond Central America and the Caribbean. Genesis BBQ said it plans to further grow its presence in South America, targeting markets such as Brazil and Argentina. Courtesy of Genesis BBQ

Mar 23, 2026By Ko Dong-hwanphoto
[PHOTO] Genesis BBQ makes South America debut
Companies

Almonty Industries CEO touts tungsten’s pivotal role in AI era

YEONGWOL, Gangwon Province — With Almonty Korea Tungsten Corp. (AKTC) beginning tungsten production in Korea, the country is entering a new phase of industrial opportunity centered on the strategic mineral. That potential extends to artificial intelligence (AI), a transformative force driving a new industrial revolution marked by technological breakthroughs on an unprecedented scale. Lewis Black, president and CEO of global tungsten developer Almonty Industries, which runs the Korean subsidiary AKTC, believes that without the mineral, the ongoing AI revolution would not have been possible. He emphasized tungsten’s critical role in the production of chips and other hardware components that enable AI semiconductors to translate their designed software capabilities into real-world performance during a recent interview with The Korea Times at AKTC’s newly built tungsten ore processing plant in Yeongwol County, Gangwon Province, March 17. Tungsten gas technology uses tungsten hexafluoride, also known as WF6 — a key specialty gas used in semiconductor manufacturing for chemical vapor

Mar 23, 2026By Ko Dong-hwan
Almonty Industries CEO touts tungsten’s pivotal role in AI era
Companies

BTS comeback sets tills ringing across retail industry

Retail outlets and hotels in Seoul have seen sales soaring off the charts due to tourists and fans visiting the Korean capital for the comeback concert of K-pop phenomenon BTS on Saturday. Sales of BTS merchandise and other items at roadside shops around Gwanghwamun Square jumped by hundreds of percent from the previous week. The concert, however, did not appear to benefit every corner of the retail sector. Restaurant and shop owners in the tourist hotspot of Myeong-dong, some 20 minutes on foot away from Gwanghwamun Square, showed mixed responses to the highly anticipated K-pop event, as the massive crowd appeared to have diverted other visitors away, resulting in lower sales than usual Saturdays. Convenience stores were among the biggest beneficiaries of BTS’ comeback. The country’s four major brands all saw notable increases in sales on Saturday and throughout last week. GS Retail said Sunday its five GS25 convenience stores in the Gwanghwamun area saw their sales on Saturday rise 233 percent and visitors' volume 181 percent from a week ago on average. The highest week-on-week sal

Mar 22, 2026By Ko Dong-hwan
BTS comeback sets tills ringing across retail industry
Companies

Sangdong mine relaunch signals Korea’s return to tungsten production

YEONGWOL, Gangwon Province — Almonty Korea Tungsten Corp. (AKTC) on Tuesday marked the launch of tungsten production in Korea by hosting a completion ceremony for its processing plant at the Sangdong mine, tapping into strategically significant tungsten ore reserves. The ceremony for the plant adjacent to the Sangdong mine follows the site’s closure in 1994, when tungsten prices plunged amid increased supply from China. The event marks the revival of operations at a mine that once accounted for more than half of Korea’s total exports in the aftermath of the Korean War. The mine still holds vast economic potential, backed by more than $100 million invested by Almonty Industries, a New York-based global tungsten developer that operates its Korean subsidiary, AKTC. The company acquired ownership of the mine in 2015 and has since invested in modernizing its operations. The ceremony was held inside Building C of the plant, a crushing facility that processes raw ore. Lewis Black, CEO and president of Almonty Industries, welcomed around 200 guests at the site. He highlighted the mine’s

Mar 19, 2026By Ko Dong-hwan
Sangdong mine relaunch signals Korea’s return to tungsten production
Companies

Korea launches ‘K-Chicken Belt’ to boost tourism

The government on Thursday unveiled a plan to boost tourism by promoting Korea’s most popular chicken dishes and standout restaurants nationwide. The Ministry of Agriculture, Food and Rural Affairs has launched the “K-Chicken Belt” initiative, aimed at identifying high-quality local chicken restaurants and showcasing them on a curated map for international tourists. The move comes as chicken has emerged as one of the most popular Korean foods globally. According to a joint report released last month by the ministry and the Korea Agro-Fisheries & Food Trade Corp., major Korean chicken brands accounted for the largest share of global expansion by the country’s food and beverage companies over the past five years, coming in at 39 percent. Genesis BBQ and Bonchon International came in as leading players in overseas markets. To build on this momentum, the government has begun developing the K-Chicken Belt map. The project goes beyond fried chicken — the most widely recognized variety — to include a diverse range of Korean chicken dishes such as samgyetang (ginseng chicken soup),

Mar 19, 2026By Ko Dong-hwan
Korea launches ‘K-Chicken Belt’ to boost tourism
Tech & Science

GS Entec eyes Korea, Japan offshore wind markets

GS Entec said Thursday that it participated in the 2026 World Smart Energy Week, a three-day renewable energy exhibition that opened Tuesday in Tokyo, Japan. The event is one of Asia’s largest renewable energy exhibitions, drawing around 1,600 companies from 67 countries. At the exhibition, GS Entec showcased videos and precision models of offshore wind substructures, along with a joint process video highlighting its collaboration with Dutch firm Sif, a global leader in the sector. Industry officials at the event showed strong interest in GS Entec’s advanced automated facilities and its capacity to produce 15-megawatt-class monopiles. Monopiles are cylindrical steel structures formed by welding large steel plates and serve as key foundations for offshore wind turbines on the seabed. GS Entec aims to cement its position as a key monopile supplier in the offshore wind markets for both Korea and Japan. The offshore wind sectors in the two countries are projected to reach a combined capacity of 20.5 gigawatts by 2030 — 10.5 gigawatts in Korea and 10 gigawatts in Japan — driven by carbo

Mar 19, 2026By Ko Dong-hwan
GS Entec eyes Korea, Japan offshore wind markets
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