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Saengong proves competitiveness in design by sweeping global awards

Saengong CEO Kim Ji-seon poses at his office in Yeongdeungpo District, Seoul, in March 2022. Courtesy of SaengongBy Kim Jae-heunA local household specialty firm called Saengong is showing the design competitiveness of its products by sweeping the world's most prestigious design awards, a company official said Sunday.At the 2023 German Design Awards (GDA) held in Frankfurt, last December, the company won Winner and Special Mention awards in the packaging and brand identity categories, respectively.This year, Saengong won two main design awards at the iF Design Award 2023 held in Berlin on May 15, in the household category for package design and the baby and kids categories for its hand sanitizing products. Both the GDA and iF Design Awards are the most prestigious awards recognized worldwide for household design. Saengong's hand wash products / Courtesy of Saengong“I am very grateful to win design awards at global competitions for two consecutive years. It is meaningful that the brand's aesthetic value and its product innovation have been recognized globally. We will continue to

Jun 4, 2023By Kim Jae-heun
Saengong proves competitiveness in design by sweeping global awards
Companies

Hyundai Elevator launches AI, IoT-powered maintenance service

Hyundai Elevator CEO Cho Jae-cheon speaks during MIRI launching event at the company's headquarters in Chungju, North Chungcheong Province, Thursday. Courtesy of Hyundai ElevatorBy Kim Jae-heunHyundai Elevator introduced an advanced elevator maintenance service called “MIRI” that connects to the Internet of Things (IoT), artificial intelligence (AI), cloud, big data and robot technology, company officials said Thursday.It held a launching event at its headquarters in Chungju, North Chungcheong Province, to showcase the state-of-the-art technology in front of 400 executives and employees, including Hyundai Group Chairwoman Hyun Jeong-eun and Hyundai Elevator CEO Cho Jae-cheon.“'MIRI,' which combines future technology, is an example of the elevator industry's digital transformation that upgrades service speed and customer convenience to the next level. It will play an important role in the company's future global strategies,” Hyun said during her congratulatory speech. MIRI adopts an “elevator availability increasing technology,” which is a national

Jun 2, 2023By Kim Jae-heun
Hyundai Elevator launches AI, IoT-powered maintenance service
Companies

Lotte Duty Free holds roadshows in Japan to attract visitors

Lotte Duty Free CEO Kim Ju-nam proposes a toast during a roadshow at a hotel in Tokyo, Tuesday. Courtesy of Lotte Duty FreeBy Kim Jae-heunLotte Duty Free held roadshows in Tokyo, Tuesday, and in Osaka, Wednesday, along with other hospitality-related group units, asking travel agencies there to promote Korea as an attractive tourist destination, Korea's largest duty free store operator said Thursday.The companies organized the event from 2012 to 2017 to attract more visitors from countries including China, Japan, Vietnam and Thailand. It was the first time since 2017 that Lotte Duty Free jointly hosted the event in Japan with four other Lotte Group affiliates, including Lotte Hotel, Lotte Property & Development and Lotte World.Major executives and employees of Lotte Duty Free and Lotte Hotel, including Lotte Duty Free CEO Kim Ju-nam and Lotte Hotel CEO Lee Wan-shin, joined the roadshow to promote Korea's tourism attractions.“We are seeking various ways to restore the competitiveness of the domestic tourism industry. In addition to our global roadshow, Lotte Duty Free plans t

Jun 1, 2023By Kim Jae-heun
Lotte Duty Free holds roadshows in Japan to attract visitors
Companies

In-N-Out Burger pop-up store attracts record crowd

People wait in line to try In-N-Out Burgers at its one-day-only pop-up store in southern Seoul, Wednesday. NewsisBy Kim Jae-heunIn-N-Out Burger, a major U.S. hamburger franchise based in California, opened a pop-up store in southern Seoul, Wednesday, for the first time since 2019, drawing a long line of people eager to taste the American burger, according to industry officials. The store sold burgers for only four hours from 11 a.m. to 3 p.m., but the line was formed hours before its doors opened.“I waited two and half hours from 10:30 a.m. to try In-N-Out Burger. The burger tastes exactly the same as one I had in the United States. It was worth it,” a 30-year-old man surnamed Cheong said. A visitor takes a photo of In-N-Out's Double-Double burger at its one-day pop-up event held in Gangnam, southern Seoul, Wednesday. NewsisIn-N-Out Burger sold only 500 burgers on the day, including its iconic Double-Double, Animal Style and Protein Style burgers. As the fast food restaurant chain, which is known for using only fresh ingredients, replaced fries with potato chips and broug

Jun 1, 2023By Kim Jae-heun
In-N-Out Burger pop-up store attracts record crowd
Companies

CJ Olive Young expands alcoholic beverage business ahead of IPO

A model picks an alcoholic beverage from a refrigerator at a CJ Olive Young store in Seoul, in last October. Courtesy of CJ Olive YoungBy Kim Jae-heunCJ Olive Young, a local health & beauty store chain, has been expanding alcoholic beverage sales as it prepares for an initial public offering (IPO), according to industry officials, Tuesday.CJ Group heir Lee Sun-hoLast October, CJ Olive Young began selling 15 kinds of alcoholic beverages at 70 stores in major commercial districts in Seoul. The firm saw its sales of wines and beer soar in April, increasing by 60 percent compared to last October, and now 100 stores are selling more than 100 kinds of alcoholic beverages. The sales have also helped Olive Young's efforts to strengthen its online business. Selling traditional liquor on its open market platform has been increasing its gross merchandise value in a short period of time. Currently, only Korean traditional liquor can legally be purchased online and delivered to homes, the company said.CJ Olive Young's expansion of alcohol sales and the conversion of its online mall to an open

May 31, 2023By Kim Jae-heun
CJ Olive Young expands alcoholic beverage business ahead of IPO
Companies

Retailers adopt generative AI to offer personalized products, services

A model holds an AskUp Lemon Sparkle Highball product made with an interactive AI chatbot at a GS25 convenience store in Seoul, May 17. Courtesy of GS RetailBy Kim Jae-heunRetailers are rushing to learn and use generative artificial intelligence (AI) to provide hyper-personalized products and services for tech-savvy young customers in their 20s and 30s, who have become a major consumer group, according to industry officials, Tuesday. AI technology is used not only to make customized products, but also to design the whole process of product planning, they said. GS25, one of the country's largest convenience store chains, operated by GS Retail, has been at the forefront of adopting this rapidly evolving technology.On May 17, the convenience store operator launched the world's first liquor made with the help of an interactive AI chatbot. The drink is called AskUp Lemon Sparkle Highball.GS Retail collaborated with local liquor firm Brewguru to develop the alcoholic beverage by utilizing the AI chatbot service AskUp, which provided data on people's preferred recipes, tastes, alcohol proof

May 31, 2023By Kim Jae-heun
Retailers adopt generative AI to offer personalized products, services
Companies

Running convenience stores becomes popular among people in 20s, 30s

A shop employee grabs items off the shelf at a convenience store in Seoul, May 5. YonhapBy Kim Jae-heunLee Sung-bong, 25, opened a CU convenience store in southwestern Seoul's Guro District last August, on recommendation from his parents who have been running one for years. “My parents have been in the convenience store business and they suggested I start my own. I think I developed my skills in picking up popular items that my customers like. Because my store has many new and unique items, young customers including YouTubers and bloggers come here from time to time,” Lee said. He remarked that sales at his store have jumped by more than 30 percent over the last nine months.Like Lee, a growing number of young people in their 20s and 30s are rushing to open convenience stores for the benefits of having more free time and a higher income compared to office workers. Also, the cost of opening a convenience store is relatively low compared to entering other businesses and the job requires no particular qualifications.According to BGF Retail, operator of the country's largest c

May 30, 2023By Kim Jae-heun
Running convenience stores becomes popular among people in 20s, 30s
Companies

POSCO International enters battery materials business

POSCO International's headquarters in Songdo, Incheon / Courtesy of POSCO InternationalBy Kim Jae-heunPOSCO International has entered the secondary battery materials business in support of its parent firm's effort to specialize in eco-friendly materials, a company official said Monday. The trading firm signed a long-term supply contract with FARU Graphite in Tanzania, a subsidiary of Australian mining company Black Rock Mining, to receive 750,000 tons of natural graphite over the next 25 years after investing $10 million (13.2 billion won). FARU Graphite has a graphite mine in Mahenge, Tanzania, which is the world's second-largest by reserves. The Mahenge mine currently has a 25-year mining life. POSCO International plans to secure a supply of natural graphite during the period and provide it to POSCO FutureM, the group's secondary battery producer. “We are making every effort to secure key minerals at a time when major countries around the world are establishing supply networks that break away from China. The company will continue to invest in the stable procurement of raw mat

May 29, 2023By Kim Jae-heun
POSCO International enters battery materials business
Companies

Daewoo E&C strengthens ESG management

Daewoo E&C CEO Baek Jung-wan speaks during a meeting with representatives of partner companies at a hotel in Seoul, April 30. Courtesy of Daewoo E&CBy Kim Jae-heunDaewoo Engineering & Construction (E&C) is accelerating its environmental, social and corporate governance (ESG) management plan in line with parent company Jungheung Group's ESG policy, the company said Monday. First, the company strengthened its corporate governance sector by changing the composition of the board of directors and its operation method at the shareholders' meeting held in March. It appointed Ahn Sung-hee, an Associate Professor of the Accounting Department at the Catholic University of Korea, as a female independent director. It also changed some of its articles of incorporation to improve the process of convening the board and establishing a compensation committee. Daewoo E&C now has two female outside directors out of six in total. According to revisions of the Capital Markets Act enforced last August, a listed company with more than 2 trillion won ($1.56 billion) in assets is required

May 29, 2023By Kim Jae-heun
Daewoo E&C strengthens ESG management
Companies

CJ, Shinsegae study temple food to expand vegan lineup

Boy monks eat lotus buns made by Shinsegae Food at Jogyesa Temple in Jongno District, Seoul, May 23. Courtesy of Shinsegae Food By Kim Jae-heunCJ, Shinsegae and other food companies are rushing to study a variety of vegetable-based dishes served at Buddhist temples across the country to develop a series of vegan products amid the growing popularity of vegetarianism and plant-based food diets, according to company officials, Friday.The country's largest food firm CJ CheilJedang recently signed a business partnership with Doban HC, an operating holdings company of the Jogye Order of Korean Buddhism, to launch jointly-developed temple foods.The company already introduced a temple-style dumpling product on Friday, which uses natural condiments and vegetables other than the five pungent herbs, (garlic, green onion, leek, chive and wild chive) which are prohibited by Buddhism.It is only available through an online grocery market called Seungso Mall, which is for monks and

May 27, 2023By Kim Jae-heun
CJ, Shinsegae study temple food to expand vegan lineup
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