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Orion issues apology over suicide at Iksan plant

Orion confectionery factory in Novosibirsk, Russia / YonhapBy Kim Jae-heunDomestic confectionery giant Orion Corporation issued a statement of apology Tuesday, expressing condolence to the bereaved family of an employee surnamed Suh, who committed suicide at the factory in Iksan, North Jeolla Province, March 17.“According to the Ministry of Employment and Labor's investigation into the case, the order of the deceased's boss to submit a written apology was an act of workplace bullying and we were told to provide guidance and improve the rigid office culture at our plant in Iksan,” Orion wrote. “We will humbly accept and follow the ministry's recommendation.”Suh had reportedly been bullied at work and her team leader forced her to write an apology for her apparent misconduct. Orion said employees at its company submit written apologies from time to time as the confectionery company has to stick to strict rules when manufacturing food to ensure consumer safety.However, Suh's boss ordered her to submit the letter without notifying the company or receiving permissi

Jul 2, 2020By Kim Jae-heun
Orion issues apology over suicide at Iksan plant
Companies

GS Caltex to go eco-friendly with bio-degradable polymer compound

By Kim Jae-heunGS Caltex CEO Hur Sae-hongLocal oil refiner GS Caltex said Thursday it plans to expand its application of eco-friendly raw materials in an effort to use resources efficiently and reduce carbon.In particular, the company plans to strengthen its capabilities with regard to the environment, society and governance based on use of the polymer compound made from recycled waste plastics. Compounded resin is a functional plastic widely used as a raw material for automotive and home appliance parts and GS Caltex is the only domestic refinery that is producing it. GS Caltex said its production of eco-friendly composite resin exceeded 10 percent of the total compounded resin production. When waste plastics are recycled to make eco-friendly composite resin instead of being incinerated, a total 61,000 tons of carbon dioxide will be reduced annually aiding in the reduction of greenhouse gas emissions. Such effect is equivalent to planting 9.3 million pine trees or reducing greenhouse gases emitted by 30,000 cars annually. GS Caltex started its green efforts in 2010 and now it produc

Jul 2, 2020By Kim Jae-heun
GS Caltex to go eco-friendly with bio-degradable polymer compound
Companies

Samsung Welstory to enter HMR market

Samsung Welstory employees introduce its home meal replacement products at its headquarters in Seongnam, Gyeonggi Province, July 1. / Courtesy of Samsung WelstoryBy Kim Jae-heunSamsung Welstory said Wednesday it will launch LaLameals, a home meal replacement (HMR) brand, as an addition to its catering services and food ingredients businesses. This is the first time for the country's largest catering service firm to introduce “meal kits.” LaLameals adopts the concept of “convenient food with premium nutrition” and offers balanced meals made with various ingredients.HMRs help consumers pursue a balanced diet and to caters to their growing interest in health. Samsung Welstory used its 40 years of catering experience in developing its HMR meals and then outsourced product manufacturing to its suppliers. LaLameals will start with 20 HMRs. They include three kinds of bulgogi, three kinds of vegetable rice and four kinds of burritos. The product lineup, from snacks to entrees with side dishes, is designed to meet daily nutritional requirements for vitamins, dietary f

Jul 1, 2020By Kim Jae-heun
Samsung Welstory to enter HMR market
Companies

Coupang, Naver on alert as YouTube enters e-commerce market

YouTube logo / Courtesy of YouTubeBy Kim Jae-heunCompetition in the local e-commerce market is expected to become much fiercer as two of its leaders Coupang and Naver are being threatened by the appearance of YouTube.YouTube has recently introduced a worldwide pilot service called “Shopping Extension” for its platform. The service shows a “SHOP NOW” button at the bottom of the screen for people to click while watching the commercials between videos and it launches a pop-up ad for the related product stating its information and pricing. The pilot service only lets certain advertisers promote their products online for now but when the service is officially launched it will be available to everyone who advertises their products. YouTube came up with an idea of Shopping Extension after learning that 70 percent of its users shop with brands they come across on its video content. “Prolonged store closures have forced brands around the world to recalibrate their media campaigns to focus on driving online sales,” Director of Product Management at YouTube A

Jun 30, 2020By Kim Jae-heun
Coupang, Naver on alert as YouTube enters e-commerce market
Companies

KFTC drafts policy to prevent platform monopolies

Woowa Brothers' headquarters in Songpa-gu, eastern Seoul, is seen in this file photo. / YonhapBy Kim Jae-heunThe Korea Fair Trade Commission (KFTC) said it will submit a new law to prevent possible power abuse by online platform operators such as Woowa Brothers and Naver. The size and influence of online business here have increased because of the COVID-19 pandemic and the antitrust watchdog is seeking to enact legislation to prevent leaders in the field from monopolizing the market and taking advantage of their superior position.First, the KFTC is set to propose a law regulating the transactional relationship between platform operators and entrants. It wants to establish a legal basis to intervene in setting commission rates and allocating costs for promotional activities of small- and medium-sized enterprises that are vulnerable to unfair contract terms. The country's second largest food delivery player Yogiyo, operated by Delivery Hero Korea, has previously forced restaurant owners to offer the cheapest price on their platform and the antitrust watchdog imposed a 468 million won p

Jun 29, 2020By Kim Jae-heun
KFTC drafts policy to prevent platform monopolies
Companies

COVID-19 spread at logistics center troubles retailers

Emart24's logistics center in Gyeongsang Province. / Courtesy of Emart24 Emart24 worker at warehouse tests positiveBy Kim Jae-heunA 20-something worker at a logistic center for Shinsegae's convenience store brand Emart24 tested positive for COVID-19, Friday.The staff member had worked at the warehouse for storing grocery stock at room temperature in the Cheoin District of Gyeonggi Province. Immediately after he was confirmed infected, Emart24 closed the facility.The convenience store brand also closed the warehouse to prevent the further spread of COVID-19 among its workers in the area. The infected man had worked at the center until last Thursday and was showing no symptoms when he had his body temperature checked on arrival. Quarantine authorities and the logistics center disinfected the whole building twice times on Friday and Saturday. They are now carrying out epidemiological investigation to check with who the worker was in contact there. Other staff at the lo

Jun 28, 2020By Kim Jae-heun
COVID-19 spread at logistics center troubles retailers
Companies

Delivery Hero-Woowa Brothers deal going through hardship

Logos of food delivery applications Yogiyo and Baedaltong operated by Delivery Hero / Courtesy of Delivery HeroBy Kim Jae-heunDelivery Hero's $4 billion deal to acquire Woowa Brothers is faltering despite earlier predictions it would proceed smoothly. The Korea Fair Trade Commission (KFTC) recently imposed a 468 million won ($388,156) penalty on Yogiyo, the No.2 player in the food delivery service market operated by Delivery Hero, for illegal price fixing of client restaurants' dishes. Although the antitrust watchdog denied that one case would have such an effect on the M&A deal, it showed how Yogiyo could abuse its power to hurt both restaurant owners and customers at the same time. This clashes with several elements that the KFTC is considering on whether to approve the deal. The antitrust watchdog's main role here is to make sure that customers are not negatively affected from the German and Korean firms' business combination. “We cannot say much about this deal as it is a sensitive issue. But what we can say is that the M&A deal should not bring down the quality of

Jun 26, 2020By Kim Jae-heun
Delivery Hero-Woowa Brothers deal going through hardship
Companies

Neople to support local community

Neople logo / courtesy of NexonBy Kim Jae-heunNeople, subsidiary of video game publisher Nexon and developer of the popular online game “Dungeon & Fighter,” is taking the lead in co-prosperity with the local community by fostering future talent and looking after the underprivileged. Neople moved its headquarters to Nohyeong-dong in Jeju City in 2015 and a year later it began operating a training course for 2D graphics as used in “Dungeon & Fighter.” Popularity of the course has been increasing every year for its practical training that covers the basics of2D graphics gives participants an opportunity to generate a portfolio. The lecturing team is comprised of notable graphic artists currently designing for PC and mobile games.The graphic design course was only opened to residents of Jeju Island in 2016 and 2017. Thanks to its popularity, though, Neople expanded the class size to take applications from all over the country by collaborating with Jeju Special Self-Governing Province and Jeju Techno Park. Under the new name of “Neople Jeju Academy,&r

Jun 25, 2020By Kim Jae-heun
Neople to support local community
Companies

Coupang to sterilize all delivery parcels

Coupang's delivery men spray sterilizing fluid on parcels in Seoul, June 24. / Courtesy of CoupangBy Kim Jae-heunThe country's largest online retailer Coupang said Wednesday it will strengthen sterilization procedures for all overnight package deliveries. Parcels will first be cleansed at the warehouse by Coupang workers and before delivery workers place them in front of the customers' door, they will spray the boxes with liquid sterilizer. Coupang said the sterilizers used have been certified by the Korea Food and Drug Administration (KFDA) and the U.S. Food and Drug Administration (FDA).The company also developed a notification function on a mobile application exclusively used by delivery workers so they don't forget to sterilize parcels. When they make a delivery and confirm it in the system, a pop-up message will remind them to spray the sanitizer. Then, the system will send a delivery notification to customers five minutes later, so the sterilizer liquid has time to dry.So far, no virus infections transmitted through delivery boxes have been reported, but Coupang plans to take &

Jun 24, 2020By Kim Jae-heun
Coupang to sterilize all delivery parcels
Companies

Korea approves LVMH-Tiffany merger

By Kim Jae-heunLouis Vuitton Korea CEO Thierry MartyThe Korea Fair Trade Commission (KFTC) Wednesday announced its approval of the merger between LVMH-Moet Hennessy Louis Vuitton SE (LVMH) and Tiffany & Co. (Tiffany) here, after saying the French luxury giant's stock purchase of the U.S. jewelry brand does not restrict competition in the local market. Last Nov. 24, LVMH signed a contract to purchase a full stake in Tiffany and reported their business combination to the antitrust watchdog in March. The KFTC has been mainly reviewing if the M&A of the two firms will prevent any other players from entering the global high-end jewelry market where their businesses overlap. It concluded that the merger does not restrict competition in the related market and approved the deal as of June 12. “There are many brands competing in the global high-end jewelry market including those owned by Chinese companies,” a KFTC official said. “Thus, we have concluded that the merger of LVMH and Tiffany will not increase the market concentration here. We also took consideration of

Jun 24, 2020By Kim Jae-heun
Korea approves LVMH-Tiffany merger
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