The Korea Times

Why Korea imports so much kimchi from China

Lower prices behind soaring imports of country's staple foodBy Kim Jae-heunA 59-year-old housewife surnamed Lee has recently begun purchasing kimchi products made in China because they are cheaper than locally made ones. “As living costs rise in all aspects, I have been looking to cut expenses in any possible areas and food is one of them. Before, I would buy kimchi products made in Korea only,” Lee said. “But because their prices went up too high, I have been getting Chinese products these days, which are much cheaper.”A 35-year-old restaurant owner surnamed Kim changed the kimchi served at his store from Korean to Chinese too.“Kimchi products made in China cost just one-fifth what local kimchi costs. People don't come to my restaurant for kimchi anyways, so I decided to change it to Chinese,” Kim said. Korea's kimchi imports last year recorded an all-time high of $169.4 million (208.8 billion won), up by 20.4 percent, year-on-year.According to the Korea Customs Service, the growth rate of kimchi imports was the highest in 12 years since 2010. The

Jan 25, 2023By Kim Jae-heun

Why Korea imports so much kimchi from China

Companies

CJ CheilJedang, Korea University to nurture talent in food, bio industries

CJ CheilJedang CEO Choi Eun-seok, right, and Korea University President Chung Jin-taek pose for a picture after signing a memorandum of understanding for cooperation in fostering talent in the food and bio industries at Korea University in Seoul, Friday. Courtesy of CJ CheilJedangBy Kim Jae-heunCJ CheilJedang said Friday it has signed a memorandum of understanding with Korea University to foster talent in the food and bio industries. The food company will provide business lectures by executives and field experts in connection with a curriculum and hold various technical seminars as well. It held a special lecture on Jan. 12 on the subject of CheilJedang's food business, job selection and employment for job seekers at Korea University.It will also offer regular industrial field training to junior and senior undergraduates.“I hope that our cooperation with Korea University will give students a good opportunity to gain practical work experience, explore jobs and plan their future,” CheilJedang CEO Choi Eun-seok said. “The company will work harder to foster the best tal

Jan 20, 2023By Kim Jae-heun

CJ CheilJedang, Korea University to nurture talent in food, bio industries

Companies

Gmarket users report suspicious account activity

This screenshot shows a message from Gmarket to a customer that his online purchase has failed. Screenshot from online communityBy Kim Jae-heunGmarket CEO Chun Hang-ilGmarket, an e-commerce firm operated by E-mart, is in the hot seat for a possible massive cyberattack on its customers' personal accounts, according to industry officials, Friday.A number of users have posted on social media about suspicious activity in their Gmarket accounts, including products purchased with their IDs and gift cards disappearing. “I bought a 1 million won ($809.2) gift card on Gmarket to use for later and when I checked it on Wednesday, it had been used two days before,” one netizen saidAnother netizen said an online movie ticket on his Gmarket account was used outside of his town. “All 50 gift vouchers are gone in my purchased item list,” the netizen wrote. Some customers also received text messages from Gmarket alerting them to attempted online purchases that they did not make, which ultimately failed due to unknown reasons.People's concerns grew bigger when the e-commerce fi

Jan 20, 2023By Kim Jae-heun

Gmarket users report suspicious account activity

Companies

Soaring prices force consumers to tighten belts for holiday shopping

A customer looks at fruit at a traditional market in Gwangju, Monday. YonhapBy Kim Jae-heunA 33-year-old housewife surnamed Park could not believe how much food prices have gone up while shopping for groceries for the Lunar New Year holiday, which falls on Jan. 22 this year. “I spent 100,000 won ($81.03) more than last year. All the prices increased, from meat to fruits and vegetables. I only purchased what I needed and just the right amount and it still cost me more,” Park said.A 59-year-old large retail store employee surnamed Kim said she only bought half as much food as she purchased for last year's Lunar New Year.“If I bought 10 apples last year, I only got five today. For example, I need three pears to put on the table for the memorial ceremony and would buy a few more to eat with my family in other years. But this year, I bought only three. The inflation is really killing me,” Kim said. Consumers who went shopping for groceries two days before the long weekend begins could not stop sighing after seeing the price tags of foods at both retail stores and t

Jan 20, 2023By Kim Jae-heun

Soaring prices force consumers to tighten belts for holiday shopping

Companies

Paris Baguette opens store in Malaysia

SPC Group President Hur Jin-soo, left, poses with Malaysian Minister of Domestic Trade and Living Costs Yang Berhormat Datuk Seri Salahuddin Ayub, center, and Berjaya Food Berhad CEO Dato' Sydney Quays at the opening ceremony for Malaysia's first Paris Baguette, at Pavilion Kuala Lumpur, Wednesday. Courtesy of SPCBy Kim Jae-heunSPC has opened its first Paris Baguette bakery cafe in Kuala Lumpur, six months after establishing a joint venture with local partner Berjaya Group to enter the Malaysian market, the company said Thursday. Korea's largest bakery operator plans to expand into the halal market of 1.9 billion people, including Southeast Asia and the Middle East, using its SPC Johor Bahru plant in Malaysia as a hub. The construction of a production facility is scheduled to be completed in the second half of this year. “We will work with Berjaya Group to make Paris Baguette a beloved brand in Malaysia,” SPC Group President Hur Jin-soo said. SPC's new Paris Baguette store in Kuala Lumpur is located on the third floor of the premium multiplex Pavilion Kuala Lumpur in Buki

Jan 19, 2023By Kim Jae-heun

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SNU professor wins TJ Park Science Prize

By Kim Jae-heunProfessor Park Je-geunPOSCO TJ Park Foundation selected Park Je-geun, a professor at Seoul National University's Department of Physics & Astronomy, and three more winners of the 2023 POSCO TJ Park Prize, during a board meeting on Wednesday. Park won the Science Prize for establishing his own research field in the study of quantum information material synthesis. He discovered a new magnetic van der Waals material that provides evidence for an existing theory in the field of magnetic 2D materials, for the first time in the world. Based on his accomplishment, Park realized a next-generation optical device technology that can control electrical and magnetic properties.The Education Prize went to professor Choe Jae-chun at the College of Natural Science of Ewha Womans University, who is a leading ecologist and evolutionary biologist in the country. He established the Eco Science Department at Ewha Womans University for the first time in Korea to meet the international standards for convergence education and research in the field of life science. Choe also brought up the

Jan 18, 2023By Kim Jae-heun

SNU professor wins TJ Park Science Prize

Companies

Hyundai unveils new Kona compact SUV

Hyundai Motor's second-generation Kona / Courtesy of Hyundai MotorBy Kim Jae-heunHyundai Motor introduced the latest model of its Kona subcompact SUV at Dongdaemun Design Plaza in Seoul, Tuesday. It is a fully changed second-generation model of the Kona series, which the carmaker originally launched in June 2017. “We want to present a higher standard of compact SUV with our all-new Kona, which has innovative marketability beyond the next level to change the market dominion,” Hyundai Motor President and CEO Chang Jae-hoon said during the press conference. “It will be the best option for customers who enjoy various lifestyles and new challenges.”For the second-generation Kona, the company designed its electric vehicle version first ― among other models that share the same powertrain ― so as to implement a future-oriented design. It plans to apply the same exterior style to internal combustion engine models later. The upper part of the front body of the new Kona adopts a horizontal LED lamp called the Straight Eyebrow to give the vehicle a futuristic feel. It int

Jan 18, 2023By Kim Jae-heun

Companies

Medytox to build botulinum toxin plant in UAE

Medytox CEO Jung Hyun-ho, right, shakes hands with Dubai Science Park CEO Marwan Abdulaziz Janahi, after signing a memorandum of understanding on building a toxin production plant in Dubai, at the Rixos Marina Hotel in Abu Dhabi, Monday. Courtesy of MedytoxBy Kim Jae-heunMedytox plans to build a botulinum toxin plant in the United Arab Emirates (UAE), seeking to capitalize on the country's rapidly growing market for cosmetic beauty products.The Korean biopharmaceutical company said Tuesday that it signed a memorandum of understanding (MOU) with Dubai Science Park, owned by state-run Tecom Group, to construct a toxin production facility. The MOU was signed during the Korea-UAE Business Forum held at the Rixos Marina Hotel in Abu Dhabi, Monday. Medytox CEO Jung Hyun-ho is part of the economic mission of President Yoon Suk Yeol's visit this week to UAE.At the planned facility, Medytox will be able to produce MT10109L, the world's first and only non-animal liquid toxin drug. The company then plans to market the halal-certified product in Muslim markets around the world as well as Europe.

Jan 17, 2023By Kim Jae-heun

Medytox to build botulinum toxin plant in UAE

Companies

Why Generation MZ consumers are crazy about whisky

A customer looks at a bottle of whisky at the GS25 Hapjeong Premium convenience store in Seoul, on Aug. 25, 2020. Newsis Korea's whisky imports last year were the highest seen since 2008By Kim Jae-heunA 35-year-old office worker surnamed Kim recently bought a bottle of whisky to drink at home. “I started drinking whisky from last year because there are no hangovers after drinking. For office workers like me, who have to wake up early to go to work but want to drink on weekday nights, whisky is the perfect choice,” Kim said. A 28-year-old graduate student surnamed Jung said he got into the world of whisky after trying certain brands at his friend's house party.“I never thought about drinking whisky before I got the chance to try it with my friends during the pandemic. I realized I can purchase it at a liquor store for one-third of the price that they are sold at in bars.”

Jan 17, 2023By Kim Jae-heun

Why Generation MZ consumers are crazy about whisky

Companies

Shinsegae International names Kim as new CEO

By Kim Jae-heunShinsegae International CEO William KimShinsegae International has appointed William Kim as its new CEO. He will also continue as the chief digital intelligence officer of the Shinsegae Department Store division to strengthen its digital strategy. The company imports and distributes more than 30 fashion brands as well as 20 cosmetics brands in Korea. It is also cultivating its own brands to expand them globally eventually. Prior to joining Shinsegae International, Kim served as the CEO of Rapha, a British cycling apparel brand. He expanded Rapha's global digital platform and developed its community concept.Before leading Rapha, he spent three years in Samsung Electronics' mobile division as the executive vice president of the Global Direct to Consumer Center. He was responsible for managing the company's official website, external third-party digital platforms and global retail stores. In 2012, Kim led British fashion retailer All Saints, which he turned into an iconic global innovative fashion brand. He renewed the firm's business model, focusing on digitalization and

Jan 16, 2023By Kim Jae-heun

Kim Jae-heun

Read more

Why Korea imports so much kimchi from China

CJ CheilJedang, Korea University to nurture talent in food, bio industries

Gmarket users report suspicious account activity

Soaring prices force consumers to tighten belts for holiday shopping

Paris Baguette opens store in Malaysia

SNU professor wins TJ Park Science Prize

Hyundai unveils new Kona compact SUV

Medytox to build botulinum toxin plant in UAE

Why Generation MZ consumers are crazy about whisky

Shinsegae International names Kim as new CEO

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