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Sales of Ghana chocolate surge after Korea's victory over Portugal

People flock to a CU convenience store in Seoul to purchase alcoholic beverages and snacks on Nov. 24. Courtesy of BGF RetailBy Kim Jae-heunLotte Confectionery saw a surprise sales increase of its steady-selling Ghana chocolate after the Korean national football team advanced to the knockout stage with the help of Ghana losing to Uruguay by only two goals. If Ghana had conceded one more goal in the match, Uruguay would've made it to the next round instead of Korea. According to GS Retail, an operator of the local convenience store GS25, the sales of Ghana chocolate skyrocketed 46.5 percent on Dec. 3 compared to that on Nov. 18, when the World Cup kicked off in Qatar. Ghana chocolate sales also surged 32.7 percent at another convenience store CU over the weekend. CU is operated by BGF Retail.Lotte's Ghana chocolate gained instant popularity after the African soccer team helped Korea to make it through to the round of 16. Lotte Confectionery's Ghana chocolate / Courtesy of Lotte ConfectioneryCU saw its revenue from alcoholic beverages and snack food products increase even more thanks t

Dec 4, 2022By Kim Jae-heun
Sales of Ghana chocolate surge after Korea's victory over Portugal
  • BTS member Jungkook's World Cup song climbs back up charts
Companies

Kumho Petrochemical expands ESG management in all directions

Kumho Petrochemical's headquarters in downtown Seoul / Courtesy of Kumho PetrochemicalBy Kim Jae-heunKumho Petrochemical is advancing its environmental, social and corporate governance (ESG) strategy to create a sustainable future. The company started its full-scale ESG management after declaring the vision of “Let's Act, Advance and Accelerate for ESG!” and promoting its strategy in September 2021. In particular, it selected three key themes of the ESG plan ― “response to climate change,” “emphasis on social value management” and “expanding sustainable management” ― and specified a total of nine major tasks. Kumho Petrochemical is also stepping up its plan to advance ESG management by joining the United Nations Global Compact (UNGC) global initiative. The UNGC is an international agreement that identifies the social responsibility of global companies based on the 10 principles of human rights, anti-corruption and the environment. The petrochemical firm plans to share actively its sustainable management performance externally through th

Nov 26, 2022By Kim Jae-heun
Kumho Petrochemical expands ESG management in all directions
Companies

Baemin, Coupang Eats hit for 'inadequate' responses to soaring online orders

A worker fries chicken at a restaurant in Seoul on March 23. Newsis By Kim Jae-heunA 31-year-old college student surnamed Lee tried to order fried chicken through Baedal Minjok (Baemin), the country's largest food delivery app, an hour before the Korea national football team's World Cup Match against Uruguay, Thursday night, but he couldn't because the app was not working for several hours. “I tried to place an order with Baemin, but the platform was not working well. I tried three times but the restaurants were not receiving my orders and the last one got canceled. I have never experienced this before,” Lee said.Another consumer, Chang also ordered fried chicken on Coupang Eats, and his order went through, but he had to visit the store to receive it because the delivery took substantially longer than usual due to the soaring number of orders.“Usually, it takes less than 30 minutes for the food to arrive after placing an order online. But because there was a World C

Nov 25, 2022By Kim Jae-heun
Baemin, Coupang Eats hit for 'inadequate' responses to soaring online orders
Companies

BAT Rothmans contributes to local community through ESG campaigns

BAT Rothmans executives and employees pick up trash in Euljiro, downtown Seoul, Nov. 18. Courtesy of BAT RothmansBy Kim Jae-heunGlobal tobacco company BAT Rothmans is drawing attention for its practice of contributing to the local community under its ESG campaigns. Executives and employees there have been actively volunteering in the company's campaigns. Under the firm's motto of making “A Better Tomorrow,” BAT Rothmans is not only carrying out various eco-friendly activities, but also making efforts steadily to help the community by fostering skilled young workers and supporting society's vulnerable. BAT Rothmans' plogging event in downtown Seoul's Euljiro was the most recent ESG campaign involving its staff. Plogging refers to the activity of picking up trash while jogging. The tobacco firm moved its Korean office to near Euljiro in August and collaborated with the nation's largest plogging organization, “Wipearth,” to clean the streets nearby on Nov. 18. On that day, BAT Rothmans employees collected about 57.8 kilograms of garbage from the street. They also

Nov 25, 2022By Kim Jae-heun
BAT Rothmans contributes to local community through ESG campaigns
Companies

Philip Morris Korea's Yangsan plant to produce Terea tobacco sticks

Zia Ahmed Karim, a director of manufacturing for Philip Morris Korea, introduces the Yangsan plant to journalists at a press meeting held in Yangsan, South Gyeongsang Province, Nov. 23. Courtesy of Philip Morris KoreaBy Kim Jae-heunPhillip Morris Korea (PMK) has begun full-scale production of Terea, an exclusive tobacco stick for the company's new heat-not-burn (hnb) IQOS Iluma devices, at its plant in Yangsan, South Gyeongsang Province, the company said Thursday. The tobacco firm's Yangsan plant produces and supplies all the Terea products sold not only in Korea but also overseas. There are 10 types of Terea tobacco sticks including two of the regular product line, four of the fresh line and another four of the special line. Unlike PMK's previous Heets tobacco stick products, the tip of a Terea stick is sealed so it leaves no residue in the device after smoking. Thus, users don't need to go through the inconvenience of cleaning the e-cigarette device every time they use it with Terea. The combination of the IQOS Iluma device and Terea tobacco sticks has been receiving favorable feed

Nov 24, 2022By Kim Jae-heun
Philip Morris Korea's Yangsan plant to produce Terea tobacco sticks
Companies

Emart workers demand bonuses for successful sales promotions

Customers wait in line to pay for their purchases at an emart store in Yongsan, Seoul, Nov. 20. YonhapBy Kim Jae-heunThe emart workers' union is demanding Shinsegae Vice Chairman Chung Yong-jin offer employees “reasonable” compensation for the success of the SSG Sale promotional event recently, according to company officials Tuesday. Shinsegae is the operator of emart, the country's largest retail store chain.Shinsegae Vice Chairman Chung Yong-jinThe major sales event took place between Nov. 18 and 20, in celebration of the SSG Landers' 2022 Korean Series win. Emart is the owner of the Korean professional baseball team. According to Shinsegae, emart's sales during the three days exceeded 140 percent compared to its original prediction. The company failed to reveal the exact numbers, but it created 2.1 times more year-on-year revenue during SSG Sale period. The union said employees at emart stores worked extremely hard and thus are eligible for compensation. “We are happy for the baseball team's Korean Series win and the company's successful sales promotion that Chun

Nov 22, 2022By Kim Jae-heun
Emart workers demand bonuses for successful sales promotions
Companies

Retailers ride on World Cup marketing

Models pose with a can of beer and a soccer ball to promote a promotional event held at a Homeplus store in Seoul, on Nov. 21. Courtesy of HomeplusBy Kim Jae-heunConvenience stores and other retailers have launched a marketing blitz related to the ongoing World Cup in Qatar as they try to break through the current consumption slump, caused by rising interest rates and soaring inflation, according to industry officials Monday. The retailers had halted their marketing activities following the deadly crowd crush in Itaewon, Seoul, on Oct. 29, but they have recently begun resuming promotional events to capitalize on one of the world's largest sporting events.Homeplus has been offering various items related to the global soccer event at a discount until Nov. 30. E-mart is also giving discounts for items ― like beer, barbeque products and televisions ― with promotions themed on the World Cup. “We have prepared discount promotions for alcoholic beverages and home foods in celebration of the global sport event. We hope the World Cup will boost consumer spending during the World Cup and

Nov 21, 2022By Kim Jae-heun
Retailers ride on World Cup marketing
Companies

LG Chem innovates sustainable eco-friendly biz with R&D

An LG Chem researcher analyzes the physical properties of the industry's first white recycled ABS at a lab in Seoul, on Nov. 20. Courtesy of LG Chem LG Chem is focusing on sustainability as its key competitiveness factor and increasing research and development in the eco-friendly sector. The company's development of post-consumer recycled (PCR) plastics is one good example of its effort to utilize waste resources. LG Chem succeeded in developing and mass-producing white PCR acrylonitrile butadiene styrene (ABS) for the first time in the world in July 2019. ABS refers to high-value-added synthetic resin. It is a type of plastic raw material that has outstanding processibility and can be applied in various colors ― so it is used in car interiors and home appliances such as televisions, air purifiers, refrigerators and hair dryers. LG Chem produces about 2 million tons of ABS annually, ranking first in the global market share. PCR ABS is often made by shredding discard

Nov 21, 2022By Kim Jae-heun
LG Chem innovates sustainable eco-friendly biz with R&D
Companies

Samsung Electronics world's No. 1 in brand recognition ahead of Google: YouGov

Samsung Electronics headquarters in Seocho, Seoul / Korea Times file By Kim Jae-heunSamsung Electronics topped Google for the first in the 2022 Global Best Brand Rankings, which is assessed by global polling firm YouGov, data showed Sunday. YouGov picked 380 top 10 brands in 38 markets based on its own brand index evaluation that analyzes brand reputation, quality, value and customer satisfaction and selected the overall best 10. Firms were given points from 1 to 10 based on their ranking in each market and added overall scores to rank them in the best brand list. Local tech giant Samsung Electronics received 127 points thereby outperforming Google, YouTube and Netflix, who achieved 106 points, 85 points and 59 points to rank second, third and fourth respectively. Singaporean online shopping mall Shopee was ranked fifth after attaining 51 points. Samsung Electronics ranked first in four countries: South Korea, the Netherlands, Vietnam and Ireland. It also ranked sec

Nov 20, 2022By Kim Jae-heun
Samsung Electronics world's No. 1 in brand recognition ahead of Google: YouGov
Companies

POSCO chief wins S&P Global's CEO of the Year award

POSCO Group Chairman Choi Jeong-woo walks to the platform after winning the CEO of the Year at the 10th Global Metal Awards hosted by S&P Global Community Insight in London, on Oct. 27. Courtesy of POSCO GroupBy Kim Jae-heunPOSCO Group Chairman Choi Jeong-woo has been selected as CEO of the Year at the 10th Global Metals Awards held by S&P Global Commodity Insight in London, on Oct. 27, the company said Sunday. Choi is the first East Asian to win the honor, which has, up until now, been exclusive to American and European CEOs. Choi was highly praised for management structure innovation by converting POSCO to a holding company, driving the group's new core growth engines, implementing strategic investments and achieving record-high performance since the holding company's establishment in 2021.“POSCO Group was founded in 1968 in a small fishing village in Pohang and it has grown into one of the most competitive steelmakers in the world today,” Chairman Choi said. “We switched to a holding company system this year to become an eco-friendly future material compa

Nov 20, 2022By Kim Jae-heun
POSCO chief wins S&P Global's CEO of the Year award
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