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'Global firms look to Korea for inspiration and trends': Kantar CCO

Kantar Group's Asia-Pacific Region Chief Client Officer Tim Kelsall poses in front of the Korean branch's office in Yeouido, on June 30. Courtesy of Kantar Korea By Kim Jae-heunMany Korean companies have the potential to become international household names after the COVID-19 pandemic as Asia's fourth-largest economy has emerged as a driving force for global innovation and cultural changes, according to the executive of a global brand consulting firm.“There has been a huge cultural movement as Korea takes its place on the global stage, be it 'Squid Game' saving Netflix's 2021 third quarter earnings, dominating the world's beauty trends or dominating the world mobile handset market,” Tim Kelsall, Kantar Group's chief client officer (CCO) of Asia-Pacific Region, said during an interview with The Korea Times on June 30.“Over the past few years, there has been a rise of Korean culture and innovation and this has made global firms look to Korea for inspiration and trends

Jul 4, 2022By Kim Jae-heun
'Global firms look to Korea for inspiration and trends': Kantar CCO
Companies

Hanwha chief sends congratulations to employees for Nuri project

Hanwha Group Chairman Kim Seung-youn / Courtesy of Hanwha GroupBy Kim Jae-heunHanwha Group Chairman Kim Seung-youn recently sent a congratulatory message to some 80 staff who took part in the development of Nuri, the Korean Space Launch Vehicle, the company said, Sunday. “Congratulations on the successful launch of Nuri on June 21. Thank you for your hard work and dedication to the development of the space rocket,” Kim said in the message.“Looking at the launch of the Nuri rocket, which shot up into the sky at the exact time planned, I instantly thought of how much effort you guys have put into this project in the last decade. You started from scratch and turned the impossible into the possible. Let's move forward to realize a bigger dream now,” Kim added. Along with the letter, the chairman also reportedly paid bonuses to engineers and researchers. One of the researchers at Hanwha Aerospace replied to Kim on behalf of his colleagues: “We went through hard times developing the Nuri rocket with limited time, but after receiving a congratulatory message fr

Jul 3, 2022By Kim Jae-heun
Hanwha chief sends congratulations to employees for Nuri project
Companies

Baemin, Coupang Eats scramble to retain delivery drivers

A delivery driver opens a container on the back of his scooter before leaving to deliver food in Seoul, Feb. 4, 2021. YonhapBy Kim Jae-heunThe number of food delivery workers has been declining since the government eased social distancing rules for the COVID-19 pandemic in early May, as fewer people get their food delivered, according to industry officials Thursday. Those who have left the food delivery industry are finding new jobs as taxi drivers and in other professions because they cannot make ends meet by only delivering food.Against this backdrop, food delivery firms have been scrambling to retain delivery drivers by guaranteeing them a stable income through new payment systems.Coupang Eats has recently offered to pay its part-time drivers on a daily and weekly basis in Gangnam, Seocho and Songpa districts in Seoul. They will be paid 170,000 won ($130.88) per day regardless of how much food they deliver, except on rainy days when the payment increases to 190,000 won. Delivery workers are also granted a one-hour break but they have to work nine hours from 10:30 a.m. to 6 p.m. Th

Jul 1, 2022By Kim Jae-heun
Baemin, Coupang Eats scramble to retain delivery drivers
Companies

McDonald's Korea introduces second locally sourced burger

Models pose with Boseong Green Tea Pork burgers at a McDonald's restaurant in Seoul, on June 28. Courtesy of McDonald's KoreaBy Kim Jae-heunMcDonald's Korea has revealed its second local menu item, the Boseong Green Tea Pork Burger as part of its Taste of Korea project on Thursday. Last year, the American fast food chain signed a business agreement with South Jeolla Province and its partner firms to introduce new menu items using high-quality domestic ingredients. The Changnyeong Garlic Burger was the first product of the Taste of Korea campaign and it instantly sold over 1.5 million right after being launched in August 2021.This year, McDonald's Korea has come up with the Boseong Green Tea Pork Burger, which uses the meat from pigs raised on green tea fermented fodder. The Boseong Green Tea Pork is a premium ingredient that has a soft texture with less smell compared to ordinary pork. It also has a higher content of vitamin B1 and linolenic acid. To maximize the taste of locally sourced meat, McDonald's Korea used 113 grams of pork in its patties. McDonald's Korea opted for sliced c

Jun 29, 2022By Kim Jae-heun
McDonald's Korea introduces second locally sourced burger
Companies

Mercedes-Benz Korea launches new EQB 300 4MATIC AMG

Mercedes-Benz Korea's new EQB 300 4MATIC AMG Line / Courtesy of Mercedes-Benz KoreaBy Kim Jae-heunMercedes-Benz Korea has launched the new EQB 300 4MATIC AMG Line, an all-electric family SUV, the company said Wednesday. The EQB 300 is the second compact SUV introduced by Mercedes-EQ after the EQA, which premiered at Auto Shanghai 2021. As a family SUV, the EQB 300 offers a spacious cabin and trunk along with various safety and convenience features. It also delivers excellent driving performance and stability with the 4MATIC all-wheel drive system. It can be extended to a seven-seater with an optional third row of seats.“The new EQB is an all-electric SUV that meets family consumers' needs ― practicality, safety and efficient driving performance. It is expected that the new EQB will be the perfect family SUV in the era of electric mobility, satisfying consumers in both their everyday use and outdoor activities,” Mercedes-Benz Korea Vice President of Product, Marketing & Digital Business Johannes Schoen said.The EQB 300 embodies “Progressive Luxury,” the des

Jun 29, 2022By Kim Jae-heun
Mercedes-Benz Korea launches new EQB 300 4MATIC AMG
Companies

Legacy fashion brands overshadowed by sportswear, luxury goods makers

By Kim Jae-heunKorea's fashion industry has been undergoing drastic changes in recent years as traditional apparel brands run by large business groups are increasingly losing luster to sportswear makers and foreign luxury brands, according to industry officials. The so-called “big 3” fashion firms ― Samsung C&T Fashion Group, LF and Kolon FnC ― have recently been losing their market shares to sports brands like Fila and Adidas and international luxury firms like Louis Vuitton and Gucci. In addition, these past two years, many online fashion platforms have been growing rapidly amid the pandemic. These changes are said to have had a significant impact on the decline of the big 3's market shares, the officials said.According to market watcher Euromonitor, Japanese retailer Uniqlo and Samsung C&T's fashion brand Beanpole have been reigning as the top two largest fashion firms here for the past five years. However, Samsung C&T Fashion Group has barely maintained its status as the top fashion company in recent years and its Beanpole brand is fading into the shadows.

Jun 25, 2022By Kim Jae-heun
Legacy fashion brands overshadowed by sportswear, luxury goods makers
Companies

LS C&S to boost ESG activities

LS C&S employees pick up litter on Hansom Beach in Gangwon Province, May 30. Courtesy of LS C&S By Kim Jae-heunLS Cable & System (LS C&S) is strengthening its environment, social and corporate governance (ESG) management through various social contribution activities such as marine purification.After declaring its vision for ESG management last June, LS C&S has been developing eco-friendly products while establishing a dedicated team for the task. On May 30, the company cleaned Mukho Port in Gangwon Province together with the Korea Coast Guard Special Rescue Unit, Navy 1st Fleet and the National Federation of Fisheries Cooperatives, to mark the 30th Marine Day. About 200 people participated.They picked up garbage from the street by Mukho Port and Hansom Beach and collected submerged fishing gear and abandoned tires. In April, the company donated 100 million won ($77,190) to support education fees and mental health treatment expenses for children of socially disadvan

Jun 25, 2022By Kim Jae-heun
LS C&S to boost ESG activities
Companies

Daewoo E&C improves living conditions for patriots' descendants

Daewoo E&C CEO Baek Jung-wan, right, paints the gate of an old house in Gwangjin District, Seoul, June 16. Courtesy of Daewoo E&C By Kim Jae-heunDaewoo Engineering & Construction has been working with Habitat for Humanity Korea to improve the residential environment for descendants of independence fighters, the company said on June 17. The voluntary campaign organized by the non-profit organization aims to renovate the old homes of meritorious persons' children or grandchildren, many of whom live in poor housing conditions.On June 16, Daewoo E&C CEO Baek Jung-wan and the company's new employees visited the house of Hong Seol-ji, an independence fighter's descendant, and replaced old windows and floorboards.Hong's late grandfather Hong Ga-reuk was a member of the Korean Heroic Corps, a Korean independence organization based in China. He was arrested and jailed by Japanese colonial forces in Onyang, South Chungcheong Province, in May 1934. In 2009, he was posthumously

Jun 24, 2022By Kim Jae-heun
Daewoo E&C improves living conditions for patriots' descendants
Companies

Hyundai Steel targets high-performance material market for EVs

Hyundai Motor's concept electric vehicle made using steel plates from Hyundai Steel / Courtesy of Hyundai SteelBy Kim Jae-heunCarmakers around the world have recently been focusing not only on expanding their supply of electric vehicles (EVs), but also on upgrading manufacturing technologies. The key technologies in focus are aimed at lightening vehicle weight to increase mileage and strengthening durability to protect passengers and batteries in the event of a collision.Demand for eco-friendly cars is expected to increase, as the electric vehicle market expands rapidly along with the global carbon-neutrality drive.Against this backdrop, Hyundai Steel has been developing core technologies related to specialty steel used to make EV motors. The steelmaker succeeded in mass producing premium hot stamping steel with a tensile strength of 1.8 gigapascals (GPa) for the first time in the world in conjunction with Hyundai Motor's Namyang Research Center in Gyeonggi Province.Hot stamping involves the rapid quenching of ultra-high-strength?steel?that has been heated and formed into different s

Jun 22, 2022By Kim Jae-heun
Hyundai Steel targets high-performance material market for EVs
Companies

SK Geo Centric, Neste, Covestro cooperate to create value chain for renewable MDI in APAC

Workers pose for a picture before the first shipment of renewable benzene leaves Ulsan harbor in Korea for Shanghai, June 14. Courtesy of SK Geo Centric By Kim Jae-heunSK Geo Centric, Neste and Covestro are cooperating to enable the production of a major polyurethane raw material based on renewable raw materials via mass balance. The cooperation will see Neste provide SK Geo Centric with renewable Neste RE, an ISCC-certified feedstock for polymers and chemicals made from 100 percent renewable raw materials such as waste and residue oils and fats. SK Geo Centric will process this feedstock into benzene at the company's facilities in Korea and supply it to Covestro to use as a raw material for methylene diphenyl diisocyanate (MDI) at its site in Shanghai. MDI is a key raw material for the manufacture of rigid polyurethane foam, which is a well-proven insulating material for buildings and used in cold-chain storage helping to save CO2 emissions and reduce energy consum

Jun 22, 2022By Kim Jae-heun
SK Geo Centric, Neste, Covestro cooperate to create value chain for renewable MDI in APAC
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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.