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Ko Dong-hwan

Korea Times Business Reporter

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Companies

Almonty set to export refined tungsten from Sangdong mine

Almonty Korea Tungsten Corp. (AKTC) has produced its first bulk bag of salable tungsten concentrate produced at its Sangdong mine in Yeongwol County, Gangwon Province, ready for shipment, marking a key step toward commercial production. The Korean subsidiary of New York-based Almonty Industries said Monday that the production of 1 ton of minerals came after the Korea Mine Rehabilitation and Mineral Resources Corp. issued a mining facility inspection certificate for the mine’s processing plant and crushing facilities on Sept. 17. The state-run company under the Ministry of Trade, Industry and Resources inspected the facilities on Sept. 14 and found the plant and facilities compliant. The certification has formally opened doors for AKTC to operate the facilities and process ores mined at Sangdong into tungsten concentrate for domestic supply and export. Production involves crushing, grinding and flotation to separate tungsten-bearing material from the ores. AKTC said it will gradually increase output and begin supplying customers in Korea and overseas after the production process stabili

Sep 28, 2026By Ko Dong-hwan
Almonty set to export refined tungsten from Sangdong mine
Companies

IKEA Konstrunda collection offers 'affordable art' for all

IKEA has launched a new collection worldwide that explores a less familiar approach to home decor. For the new Konstrunda collection, seven creators came together to produce 18 distinctive art pieces, suggesting how art can be used to style everyday living spaces at affordable prices. Karin Gustavsson, creative director for the collection that was unveiled earlier this month, said the project is “democratization” of art, emphasizing the pieces’ comparatively low prices, ranging from 29,900 won ($21.50) to 349,000 won. Setting affordability as a key condition for the collection, she gave the artists broad creative freedom in how they expressed their ideas. As the leader for Range Identity at IKEA Sweden, Gustavsson said preserving each artist’s spirit and ideas was just as important as keeping the works affordable. “When I choose people to work with, I make sure that they understand the ethos of IKEA, and even if there is freedom to design, we do work on an entirely different scale and have other factors to consider — affordability being one of the most important,” said Gus

Sep 26, 2026By Ko Dong-hwan
IKEA Konstrunda collection offers 'affordable art' for all
Companies

China's 'mala' sauce breaks Korea's culinary boundaries

"Mala" is enchanting Korean palates across the domestic food industry. The tongue-numbingly spicy seasoning that is a traditional favorite in China's Sichuan province has become a popular ingredient for dishes beyond just Chinese cuisine, spreading to Korean and Western dishes in both the dine-in and takeout scenes. Since its introduction to Korea in the early 2010s, the popularity of mala among Korean consumers began to grow more widespread in 2018, and has been on a consistent rise since. At Google Trends, online searches for “malatang" (mala-based hot pot) this month jumped 350 percent from 2022, while "mala rosé" (mala and creamy tomato sauce) jumped 250 percent during the same period. Korean's frenzy over mala has been evident in the country's dine-in landscape as well. Tanghuo Kungfu, the largest Korean malatang franchise, posted sales of 25.5 billion won ($19 million) last year, nearly tripling from 2022. Chunli Malatang enjoyed a sales increase of 134 percent from 2023, while Lahongbang saw a 32 percent rise from the previous year. This year, McDonald’s Korea, Binggrae, Otok

Sep 23, 2026By Ko Dong-hwan
China's 'mala' sauce breaks Korea's culinary boundaries
Companies

European business chambers seek stronger investment ties with Korea

The Korean-German Chamber of Commerce and Industry (KGCCI) and the French-Korean Chamber of Commerce and Industry (FKCCI) on Tuesday jointly hosted a forum with Korean Prime Minister Han Seong-sook in Seoul to discuss foreign investment conditions and regulatory challenges in Korea facing European companies. About 200 executives from German, French and other European companies, along with government, diplomatic and economic officials, took part in the event at Banyan Tree Club & Spa Seoul, the KGCCI said Wednesday. It was organized to strengthen direct communication between the Korean government and European businesses. In her keynote speech, Han described Korea, Germany, France and other European Union members as trusted partners built on long-standing ties and shared support for free trade, openness, innovation and a rules-based international order. “The government will do its utmost to cooperate so that investments and business ventures by German and French companies can generate greater results in Korea,” Han said. Han highlighted the 19th Asia-Pacific Conference of German Busine

Sep 23, 2026By Ko Dong-hwan
European business chambers seek stronger investment ties with Korea
Companies

MISSHA expands European outreach at Milano Beauty Week

Able C&C’s beauty brand MISSHA promoted its products and expanded consumer outreach in Europe during Milano Beauty Week, underscoring the region’s growing importance to the Korean cosmetics company’s overseas business. MISSHA participated in the event, held in Milan from Wednesday to Sunday (local time), through a partnership with Italian fashion and beauty retailer OVS. The company showcased its BB creams, glow primer line and PDRN-NAD+ skincare products, positioning the range around convergence of skincare and makeup. According to Able C&C, samples prepared for visitors were exhausted early in the event and consumers showed a strong interest in product formulations and performance. Milano Beauty Week, hosted by Cosmetica Italia, an Italian association of personal care solution companies and organized by OVS, brought together beauty brands, industry professionals and consumers at venues across the city. Last year’s event drew about 275,000 participants. For Milan Fashion Week, the brand is also operating a dedicated booth and hosting beauty classes at OVS’s Shakaland Beauty H

Sep 22, 2026By Ko Dong-hwan
MISSHA expands European outreach at Milano Beauty Week
Companies

APR secures dual AI certifications for beauty devices

Beauty device and cosmetics developer APR has obtained two international artificial intelligence (AI)-related certifications, establishing a global-level framework for AI governance and product reliability. The company said Tuesday it earned ISO/IEC 42001 certification for its AI management system and Nemko’s AI Trust Mark for the reliability of its AI-assisted product. APR said it is the first beauty company in the world to obtain both certifications. ISO/IEC 42001, established by the International Organization for Standardization and the International Electrotechnical Commission in 2023, is an international standard for AI management systems. It assesses whether an organization has systems in place to manage risks and opportunities associated with AI and support the responsible development, provision and use of AI systems. APR said it has established 46 types of AI management documents across seven stages for its AI-based personalized care services, covering the entire lifecycle of AI systems, from planning to disposal. It has also implemented a governance structure in which individ

Sep 22, 2026By Ko Dong-hwan
APR secures dual AI certifications for beauty devices
Companies

Farm, fisheries groups launch task force to oppose CPTPP entry

Workers from Korea’s agricultural, livestock, fishery and forestry industries on Monday jointly launched an emergency committee to oppose the government’s potential entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). They argued that joining the trade pact would increase imports into Korea, threatening their market share and livelihoods. The launch of the CPTPP Task Force came as the government has yet to announce whether it will join the pact, which has been ratified by 12 countries, including Japan, Canada, Australia, Mexico and Vietnam. In June, the Ministry of Trade, Industry and Resources denied a local media report that the government had decided to join the pact, saying it would “carefully consider joining the CPTPP, taking into account stakeholders’ views as well as domestic and external conditions.” Early last month, Industry Minister Kim Jung-kwan said the government would review the possibility of joining the pact. Later that month, Deputy Prime Minister and Finance Minister Koo Yun-cheol said at a meeting of ministers of in

Sep 21, 2026By Ko Dong-hwan
Farm, fisheries groups launch task force to oppose CPTPP entry
Companies

Starbucks launches 'My Star Coffee' campaign to donate 1 mil. cups

Starbucks Korea has launched a customer-participation campaign to donate up to 1 million cups of coffee to people and communities in need. Under the “My Star Coffee” campaign, for every cup of Today’s Coffee purchased at Starbucks stores nationwide on Mondays, beginning Sept. 28, the company will donate an equivalent amount of coffee. The campaign is based on the idea of giving a cup of coffee to a personal “star” — someone who has offered quiet support and encouragement. For every cup of brewed coffee purchased by a customer, Starbucks will donate one additional cup of coffee to people and communities in need, allowing customers and the company to jointly build up the donations. The accumulated cups of “My Star Coffee” will be delivered to people serving local communities, welfare facilities, disaster and emergency sites, farms and other places in need. Starbucks said the initiative is intended to allow customers to take part in sharing activities through everyday coffee purchases, while extending support to people who contribute to their communities. The company’s mobi

Sep 21, 2026By Ko Dong-hwan
Starbucks launches 'My Star Coffee' campaign to donate 1 mil. cups
Companies

Authentic Korean convenience meals attract foreigners

The global popularity of Korean food has reached a point where convenience store meal boxes, known as “dosirak,” have become part of a new market trend where signature Korean flavors and traditional recipes have become a hit with international visitors and popular in new markets. Min Jung-hwan, who plans and oversees dosirak production for GS25 at GS Retail’s Merchandise Headquarters, is seeing the shift firsthand. Rather than creating separate products for foreign customers, the retailer is increasingly offering the same dosirak that appeal to Korean consumers, reflecting growing interest in authentic Korean flavors. “We don’t make dosirak that are specially for foreigners because many of them like what Koreans enjoy. Even at GS25 stores in Vietnam and Mongolia, visitors are interested in authentic Korean-style dosirak. We try to meet such expectations so that they can feel they are inside a Korean convenience store,” Min said in an interview with The Korea Times. “To serve the rising number of foreigners coming to Korea, we are boosting a pipeline for those with banchan

Sep 21, 2026By Ko Dong-hwan
Authentic Korean convenience meals attract foreigners
Companies

KTX bookings to open 2 months in advance, easing travel for foreign visitors

Tickets for Korea’s high-speed KTX trains will be available for booking up to two months before departure starting next month, extending the current one-month window. Along with the booking window, KTX will introduce a set of operational improvements for foreign travelers next month to make the reservation process more convenient, the government said Sunday. According to the Ministry of Land, Infrastructure and Transport and KTX operator KORAIL, customers will be able to book seats up to two months in advance starting Oct. 1. The government said the extension is intended to make it easier for travelers to plan trips around the country. For foreign visitors in particular, many book flights to Korea at least two months in advance, but KTX tickets have only been available one month before departure, making it difficult to plan their itinerary within the country. “Travelers will be able to book KTX at the same time as purchasing airline tickets, making it easier to plan domestic trips and use KTX more conveniently,” the ministry said in a press release. “Korean travelers will also be a

Sep 20, 2026By Ko Dong-hwan
KTX bookings to open 2 months in advance, easing travel for foreign visitors
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