The Korea Times

KITA chairman asks U.S. senator to delay IRA implementation

The KITA Chairman Koo Ja-yeol, right, shakes hand with U.S. Sen. Jon Ossoff at his office in Georgia, on Oct. 11. Courtesy of KITABy Kim Jae-heunKorea International Trade Association (KITA) Chairman Koo Ja-yeol met with U.S. Senator Jon Ossoff of Georgia on Tuesday (local time), requesting the legislator to help delay the implementation of the Inflation Reduction Act (IRA) for three years, KITA said Wednesday.“The U.S. is Korea's largest investment destination. As Korea plays a crucial role in the U.S. supply chain of high-tech industries, we ask you to take care of Korean companies operating there to prevent any discrimination against them,” said Koo, who is currently in the United States. “Find a way to postpone the adaptation of the IRA for three years as Korean companies, including Hyundai Motor, are contributing to production increases and job creation in Georgia and other states by making large investments.”The chairman also delivered his message that the IRA could violate the Korea-U.S. free trade agreement (FTA) and the World Trade Organization's trade

Oct 13, 2022By Kim Jae-heun

KITA chairman asks U.S. senator to delay IRA implementation

Companies

Consumers frustrated by Lotte Confectionery ice cream recall

Lotte Confectionery's Fanfare Sand Custard ice cream product / Courtesy of Ministry of Food and Drug SafetyBy Kim Jae-heunConsumers are voicing frustration at Lotte Confectionery for recalling its ice cream dessert, “Fanfare Sand Custard,” after the Ministry of Food and Drug Safety (MFDS) confirmed that the product contains bacteria, according to industry sources, Wednesday. The dessert was produced by Hanbo Confectionery and supplied to Lotte Confectionery.“I can't believe Lotte sold this ice cream, which many kids enjoy. They should have checked its bacteria level before distributing them throughout the country. The company should have been extra meticulous with the food they sell,” a 33-year-old housewife surnamed Lee said. “I have two children at home and I don't think I am going to buy them anything from Lotte from now on.”A 42-year-old office worker surnamed Jeon also intended to boycott Lotte Confectionery's products, because this instance is not the first time the company has recalled its food products.“I think it was seven years ago

Oct 12, 2022By Kim Jae-heun

Consumers frustrated by Lotte Confectionery ice cream recall

Companies

Maeil Dairies opens Amazing Oat pop-up cafe in Seoul

Customers pick out desserts at Maeil Dairies' Cafe Amazing Oat in eastern Seoul's Seongsu-dong neighborhood, Oct. 10. Courtesy of Maeil DairiesBy Kim Jae-heunMaeil Dairies opened the Cafe Amazing Oat last Saturday in Seoul, welcoming customers to experience the true taste and nutrition of oats, the company said Tuesday. The dairy firm is operating the pop-up cafe for a month until Nov. 6 in eastern Seoul's Seongsu-dong neighborhood, offering various beverages and desserts highlighting the Amazing Oat vegetarian-friendly drink brand.Customers can also join vegan baking classes and take selfies in the photo zone as well as purchase related goods there. Since August last year, the company has launched three types of Amazing Oat milk substitutes using imported and processed Finnish oats.The oat latte is the most popular beverage sold at the pop-up, using the company's milk substitute instead of dairy milk to offer the unique savory and soft taste of oats. “We opened the pop-up store to provide our customers a chance to experience the benefits of oat-based vegetarian-friendly drinks

Oct 12, 2022By Kim Jae-heun

Maeil Dairies opens Amazing Oat pop-up cafe in Seoul

Companies

Switching from cigarettes to glo shows positive long-term effects: BAT

BAT Rothmans Head of Regulatory Science Sharon Goodall speaks during a virtual press conference held at a hotel in Seoul, Tuesday. Courtesy of BAT RothmansBy Kim Jae-heunResearchers from BAT Rothman unveiled new data Tuesday showing the positive long-term effects of switching completely from cigarettes to glo, BAT's tobacco heating product (THP). This is is the first yearlong study on glo to assess the impact of switching entirely from cigarettes to THPs for adult consumers in a real-world setting. “This study's results are the most important data we have ever generated about glo and for the tobacco heating category,” Sharon Goodall, head of Regulatory Science at BAT, said during a press conference held at a hotel in Seoul, Tuesday. “This real-world study allows us to assess the changes that adult smokers switching exclusively to glo experience, by assessing early indicators of potential harm associated with disease development.”The randomized controlled study involved more than 500 U.K.-based adult smokers aged 23 to 55 in good general health. The study divid

Oct 11, 2022By Kim Jae-heun

Switching from cigarettes to glo shows positive long-term effects: BAT

Companies

LG Electronics sells more guide robots to Japanese shopping mall

LG Electronics' guide robot at an Aeon store in Japan, on Oct. 7. Courtesy of LG ElectronicsBy Kim Jae-heunLG Electronics is stepping up its guide robot business expansion overseas by supplying those products to Japan's largest shopping mall, Aeon, the Korean company said Sunday.The multinational electronics company recently supplied two “LG CLOi GuideBot” to an Aeon store in Toki, Gifu Prefecture. Last month, it also sold guide robots to Aeon mall at Narita International Airport. Japan is a representative industrial robot powerhouse along with the United States and Germany. The autonomous robot market has grown rapidly with the recent increase in demand for contactless services and many newcomers in the business are competing fiercely to introduce their products. LG Electronics' consecutive supply of its guide robots to Japan shows its product is well-recognized in the global market for its capabilities.“The company is expanding its supply of CLOi GuideBot optimized for contactless services, not only in Korea, but also abroad. We will provide new experiences with r

Oct 10, 2022By Kim Jae-heun

LG Electronics sells more guide robots to Japanese shopping mall

Companies

Retailers use popular corporate mascots to attract consumers

Rubber duck floats on Seokchon Lake in Songpa District, eastern Seoul, on Oct. 8. Courtesy of Lotte P&DBy Kim Jae-heunRetailers are using popular corporate brand mascots to attract consumers, most of whom got used to shopping online for more than two years during the COVID-19 pandemic, according to industry officials Sunday. Lotte, Shinsegae, Hyundai and others that operate large stores, are introducing various hands-on types of content using corporate brand mascots to increase sales and boost brand awareness.Lotte Property & Development (Lotte R&D) brought back the popular giant yellow rubber duck to Seoul for the first time in eight years on Sept. 29. When Lotte first introduced the super-sized inflatable bath toy in Korea in 2014, nearly 5 million people came to see the rubber duck during its month-long visit.Over 700,000 people have already visited the rubber duck after its introduction on Sept. 29. The retailer is preparing to exhibit Halloween concept rubber ducks at its Lotte World Tower Mall for the first time. Lotte Homeshopping's giant pink bear character Puuvil

Oct 9, 2022By Kim Jae-heun

Retailers use popular corporate mascots to attract consumers

Companies

Galleria to open Five Guys burger diner

Managing Director of New Business Strategy at Galleria Kim Dong-seon, right, shakes hands with Senior Vice President of Operations at FGE International William Peecher after signing an agreement to run Five Guys franchise stores in Korea at a Seoul hotel, Thursday, Courtesy of Galleria Department StoreBy Kim Jae-heunGalleria Department Store is launching Korea's very first Five Guys hamburger diner in Seoul as part of its efforts to expand its restaurant business as the country returns to normal from the two-year-long COVID-19 pandemic, the retailer said Thursday.It signed a business rights contract with FGE International to operate Five Guys restaurants in the domestic market starting from the first half of 2023.This is a notable accomplishment for Hanwha Group, which operates Galleria Department Store, as the youngest son of group Chairman Kim Seung-yeon has spearheaded efforts to bring one of America's most beloved hamburger restaurant franchises to Korea.Five Guys has consistently maintained a cautious stance on entering the Korean market as it puts the utmost priority on offerin

Oct 6, 2022By Kim Jae-heun

Companies

LGES launches new companies to boost battery ecosystem

LG Energy Solution's headquarters in Yeouido, Seoul / Korea Times fileBy Kim Jae-heunLG Energy Solution has launched new in-house companies named KooRoo and AVEL to expand its battery business ecosystem, the company said Wednesday, as part of its plan to keep pace with industry developments. KooRoo and AVEL will begin operations later this month related to Battery as a Service (BaaS) and Energy as a Service (EaaS), respectively, starting this month.BaaS is a business model that provides various services based on the data generated throughout a battery's life cycle. EaaS refers to a business model that uses distributed renewable energy resources and energy storage systems (ESS) to help streamline the power grid.KooRoo is a battery swap service (BSS), offering customers a convenient electric motorcycle battery pack-swapping service. The company plans to push for the development of BSS-only battery packs and stations first and then expand the ecosystem of electric motorcycles by utilizing the collected data in the future. LG Energy Solution CEO Kwon Young-soo / Courtesy of LG Energy Sol

Oct 5, 2022By Kim Jae-heun

Companies

Renault Korea inks wage pact without dispute for 1st time in 4 years

Renault Korea Motors CEO Stephane Deblaise takes selfie with employees during the company's “New Start, New Name” event held at its manufacturing plant in Busan, on March 16. Courtesy of Renault Korea MotorsBy Kim Jae-heunRenault Korea Motors has opened a new chapter in its operations since Stephane Deblaise took the helm of the Korean unit of the French carmaker in March.Deblaise's employee-friendly leadership style appears to be paying off by improving labor-management relations, according to company officials Tuesday.Renault Korea signed this year's wage bargaining agreement on Sept. 16 with labor and management representatives agreeing on a salary without clashing for the first time in four years, unlike the past, which saw repeated strikes every year. Strikes used to jeopardize the Europe-bound exports of Renault Korea Motors' XM3 compact SUVs, the main volume vehicle produced at the Busan plant which substituted the Nissan Rogue which were exported to the U.S.But this year, Renault Korea Motors' employees celebrated the production of 200,000 XM3 compact SUVS at the

Oct 4, 2022By Kim Jae-heun

Renault Korea inks wage pact without dispute for 1st time in 4 years

Companies

NCSOFT offers industry's highest wages, benefits to new recruits

NCSOFT's R&D Center at its headquarters in Pangyo, Gyeonggi Province / Courtesy of NCSOFTBy Kim Jae-heunNCSOFT started its recruitment drive this year for new employees on Sept. 30, promising to offer the game industry's highest wages and benefits, according to company officials Tuesday. The game firm is widely known as a “dream company” among jobseekers as it has been paying high salaries to its employees so as to secure promising workers in the information technology (IT) field.Currently, the company's starting income for newcomers is 55 million won ($38,507) annually for engineers and program developers and 47 million won for ordinary office workers. Such figures are the minimum amount new employees are guaranteed as a starting salary and it can go up further depending on employees' expertise and capability. In 2019, the game company abolished its comprehensive wage system to provide a better working environment. A comprehensive wage system refers to a method of paying scheduled allowances in advance by determining overtime, night duty and holiday work when signing

Oct 4, 2022By Kim Jae-heun

Kim Jae-heun

Read more

KITA chairman asks U.S. senator to delay IRA implementation

Consumers frustrated by Lotte Confectionery ice cream recall

Maeil Dairies opens Amazing Oat pop-up cafe in Seoul

Switching from cigarettes to glo shows positive long-term effects: BAT

LG Electronics sells more guide robots to Japanese shopping mall

Retailers use popular corporate mascots to attract consumers

Galleria to open Five Guys burger diner

LGES launches new companies to boost battery ecosystem

Renault Korea inks wage pact without dispute for 1st time in 4 years

NCSOFT offers industry's highest wages, benefits to new recruits

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