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Hyundai Oilbank turns gas stations into lifestyle platforms

A customer looks at a digital art piece displayed on the wall of a Hyundai Oilbank gas station in Sadang-dong, Seoul, on July 25. Courtesy of Hyundai OilbankBy Kim Jae-heunHyundai Oilbank has recently been making efforts to transform its gas stations into a lifestyle platform that provides a variety of customer experiences. In 2019, the company started a business with Makespace by creating a warehouse at its gas stations where customers can keep their winter clothes or camping equipment. Retailers can also rent Hyundai Oilbank's warehouse to store their merchandise temporarily, and local sandwich franchise New York Hotdog and Coffee opened a restaurant in it selling snacks to people. Last year, the refiner began a 5G repeater business in partnership with LG Uplus and KT while launching a public parking lot service utilizing the Internet of Things (IoT) in collaboration with Hancome Mobility. In addition, the company diversified its car-washing service for customers while introducing car-wash coupons for the first time among refiners. Recently, Hyundai Oilbank started selling an ultra

Jul 29, 2022By Kim Jae-heun
Hyundai Oilbank turns gas stations into lifestyle platforms
Companies

Fashion industry hit by COVID-19 resurgence, soaring inflation

Models pose with clothing at an LF Mall store in a department store in Seoul, on May 9, 2021. Korea Times fileBy Kim Jae-heunApparel makers and other fashion companies here are increasingly concerned that their sales will continue to remain in the doldrums due to the resurgence of COVID-19 infections and soaring inflation, according to industry officials, Wednesday. According to market tracker FnGuide, the country's major fashion firms are expected to show solid business performance in the second quarter of the year, though the trend will likely not continue in the second half.LF's sales and operating profit between April and June are predicted to reach 531.4 billion won ($404.5 million) and 59 billion won, respectively, up by 14 percent and 15.6 percent, quarter-on-quarter. Handsome's revenue and profit are expected to reach 350.4 billion won and 27.8 billion won, respectively, in the same period. However, these two along with other companies are expected to see their sales and profits decline in the coming months. The daily number of new COVID-19 infections is surging at a rapid pa

Jul 28, 2022By Kim Jae-heun
Fashion industry hit by COVID-19 resurgence, soaring inflation
Companies

HiteJinro pledges to improve firefighter welfare

HiteJinro CEO Kim In-gyu, right, poses with the head of Gyeongbuk Fire Service Headquarters, Lee Young-pal, at the fire station in Andong, North Gyeongsang Province, after signing a community service partnership on April 8. Courtesy of HiteJinro By Kim Jae-heunHiteJinro said Wednesday that it will continue to pursue corporate social responsibility (CRS) activities this year as a representative company in the local liquor industry. It will mainly focus on projects such as improving the treatment of firefighters, promoting public safety campaigns and planting trees.The brewer, which opened in 1923, recently held an online fitness contest inviting 23,000 participants, including the company's employees and firefighters. Participants competed in four categories: walking, running, hiking and group walking with family members. The winners were picked according to the records kept by GPS-based apps on their mobile phones. In 2018, HiteJinro signed an agreement with the Nati

Jul 27, 2022By Kim Jae-heun
HiteJinro pledges to improve firefighter welfare
Companies

POSCO Int'l supplies low-carbon steel for Incheon airport Terminal 2 expansion

Aerial view of Incheon International Airport's Terminal 2 / Courtesy of POSCO InternationalBy Kim Jae-heunPOSCO International will supply 23,000 tons of steel for the expansion of Incheon International Airport's Terminal 2, the company said Tuesday. POSCO and POSCO Steeleon plan to provide a steel curtain wall and roofing made of low-carbon materials until the expansion work is completed in 2024.The firm collaborated with small and medium-sized companies that received POSCO Innovilt certification for their external panel processing technologies. The steelmaker gives Innovilt certification to products that are 100 percent made with POSCO steel and have passed the company's strict evaluation on the product's technology and marketability. A curtain wall refers to an outer covering of a building in which the outer walls are non-structural. Most of the time, it is made mainly of aluminum and steel. Steel has better insulation and fire resistance than other materials such as aluminum. It is an eco-friendly material that generates less carbon and can be recycled. POSCO's Innovilt-certified

Jul 27, 2022By Kim Jae-heun
POSCO Int'l supplies low-carbon steel for Incheon airport Terminal 2 expansion
Companies

Starbucks accepts return of controversial Summer Carry Bag

Starbucks Korea's Summer Carry Bag / Courtesy of Starbucks Korea By Kim Jae-heunStarbucks Korea has decided to accept its Summer Carry Bag product from customers who want to return the giveaway item as it is believed to contain formaldehyde, a class 1 carcinogen, according to company officials, Monday. In return, Korea's largest coffee chain will offer three free drink coupons.Despite the company's decision to compensate customers for the controversial giveaway item with free drinks, it is too early to confirm that its Summer Carry Bag giveaway contains the harmful chemical. “We apologize for causing concerns to our customers over this incident,” a Starbucks Korea official said. “We are still checking with our supplier concerning the allegation that formaldehyde was detected in our Summer Carry Bag item. Separately, we are also conducting our own inspection through an accredited outside agency. The result will likely come out in a week or so.”The official added, “No

Jul 25, 2022By Kim Jae-heun
Starbucks accepts return of controversial Summer Carry Bag
Companies

Group buying becomes trend amid soaring inflation

By Kim Jae-heunA 34-year-old salad restaurant owner Kim Ji-man has recently started buying grocery items together with his neighbors on Danggeun Market, the country's largest online flea market platform. “When you buy a certain product in a large quantity, you can get them at a relatively cheaper price. You can also share the delivery fee with neighbors, so I use group purchasing from time to time,” Kim said.A 28-year-old graduate student Lee Hyun-joon often uses Danggeun Market to receive food deliveries with other people living in his town. By doing this, he can save between 50 percent and 75 percent of the delivery cost.“There is a section on Danggeun Market where people make groups ― a maximum size of four ― to order late-night meals from the same restaurant. This way we can divide the delivery fee,” Lee said. “This is useful because many food prices here have recently gone up due to the ongoing war in Ukraine and many food delivery services have hiked delivery fees ruinously.As the cost of living rises in the country and the number of one-person hou

Jul 23, 2022By Kim Jae-heun
Group buying becomes trend amid soaring inflation
Companies

7 Hyundai Motor vehicles rated best in product satisfaction by JD Power

Hyundai Motor's G80 car / Courtesy of Hyundai Motor By Kim Jae-heunHyundai Motor beat out other global competitors to become the largest producer of top-ranked cars in the United States, in a consumer satisfaction survey conducted by J.D. Power, the company said, Friday. According to the American consumer research firm, seven vehicles of the Korean carmaker ranked first ― by grade ― in its 2022 Automotive Performance, Execution and Layout (APEAL) Study released recently.The survey was conducted on consumers who have purchased any brand of car ― after three months ― between November of last year and February of this year. The consumer research firm studied people's satisfaction with various aspects of their new cars, including interior and exterior design, driving performance, infotainment controls, safety and price. Each car received points from consumer satisfaction in different categories, out of a possible score of 1,000 points.Looking into specific brands, Hyund

Jul 22, 2022By Kim Jae-heun
7 Hyundai Motor vehicles rated best in product satisfaction by JD Power
Companies

LG Energy Solution to increase battery supply to Ford

LG Energy Solution CEO Kwon Young-soo / Courtesy of LG Energy Solution By Kim Jae-heunLG Energy Solution will supply more battery packs to Ford Motor as the American automaker expands its global production of electric vehicles, including the Mustang Mach-E and E-Transit, the company said Friday. LG will double the size of its battery production lines in Poland by next year and continue to build more plants.“We have secured enough battery packs that can produce about 600,000 electric vehicles next year. LG Energy Solution, which has been supplying battery packs to us for a long time, has rapidly increased production volume in Poland, where we get our battery for our electric vehicles,” a Ford Motor official said. Ford Motor's Mustang Mach-E model / Courtesy of Ford Motor The battery maker has been supplying its products to Ford for two of its electr

Jul 22, 2022By Kim Jae-heun
LG Energy Solution to increase battery supply to Ford
Companies

Hyundai Motor to ship IONIQ 5 to Japan for use as taxis

Hyundai Motor's IONIQ 5 / Courtesy of Hyundai MotorBy Kim Jae-heunHyundai Motor will take the first step in advancing into the Japanese electric vehicle market by supplying its IONIQ 5 to MK Taxi, the company said Wednesday. Starting next month, the automaker will supply 50 IONIQ 5 cars to the Japanese taxi firm based in Kyoto. MK Taxi will first operate 50 and then increase the number to 700 over time.Japan is often dubbed the “graveyard for imported cars.” Here, Hyundai revealed its goal to re-enter the Japanese market ― after 12 years ― with its electric and hydrogen-electric vehicles in February. Hyundai Motor is said to be ahead of Japanese automakers in the green car sector. The IONIQ 5 is the first electric vehicle developed that is based on Hyundai Motor's electric vehicle platform, E-GMP. It has been recognized worldwide for its quality after it was selected as World Car of the Year at the 2022 World Car Awards in April.The Korean carmaker expects its electric vehicle to provide Japanese taxi passengers with a comfortable ride with its spacious interior and elect

Jul 20, 2022By Kim Jae-heun
Hyundai Motor to ship IONIQ 5 to Japan for use as taxis
Companies

CJ CheilJedang to increase alternative foods twentyfold in 3 years

Models hold CJ CheilJedang's new plant-based dumpling and rice ball products at the company's headquarters in Seoul, on July 18. Courtesy of CJ CheilJedangBy Kim Jae-heunCJ CheilJedang has been developing vegetable-based alternative foods as a new growth engine since more consumers have become increasingly environmentally-conscious and have been moving away from meat and other animal-protein products, company officials said, Tuesday. In particular, the company sees big business potential in North America and Europe, where meat accounts for larger portions of the local diets than in other regions.CJ CheilJedang recently unveiled its short-term goal to increase its sales coming from the plant-derived food business by 20 times over the next three years. It currently shows 10 billion won ($7.61 million) of revenue in the field and the company hopes to increase it to 200 billion won by 2025. “About 38 percent of the world's population pursues a vegetarian diet. They are both people who were originally vegetarians and people who eat meat but are willing to increase their vegan dishes

Jul 20, 2022By Kim Jae-heun
CJ CheilJedang to increase alternative foods twentyfold in 3 years
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