The Korea Times

Hana Financial Group chairman joins 'NO EXIT' anti-drug campaign

Hana Financial Group Chairman Ham Young-joo speaks during the “NO EXIT” anti-drug campaign event at the company headquarters in Seoul, Friday. Courtesy of Hana Financial GroupBy Kim Jae-heunHana Financial Group Chairman Ham Young-joo has joined the “NO EXIT” campaign that aims to prevent drug crimes by raising awareness of the risks associated with drug abuse, company officials said Sunday. The campaign is a pan-national movement promoted by the National Police Agency and the Korean Association Against Drug Abuse since April. It is being run as a social media relay campaign to highlight the seriousness of drug addiction while attempting to eradicate it by raising public awareness.“As drugs have recently emerged as a serious social problem, keen attention and active participation from the entire nation are needed to eradicate drugs. Hana Financial Group will make efforts to make Korea a clean society without drugs through this campaign,” Ham said. Ham was nominated by DGB Financial Group Chairman Kim Tae-oh in June and posted an anti-drug message on

Jul 31, 2023By Kim Jae-heun

Hana Financial Group chairman joins 'NO EXIT' anti-drug campaign

Companies

Dongsuh sells 1 bil. Starbucks ready-to-drink beverages in Korea

David Hanson, vice president of global channel development at Starbucks Asia Pacific, poses with Dongsuh Foods' Starbucks ready-to-drink beverages at a resort on Jeju Island, Thursday. Courtesy of Dongsuh FoodsStarbucks executive vows to continue strong partnership with Dongsuh, introduce new coffee products for local consumersBy Kim Jae-heunJEJU ― Dongsuh Foods and Starbucks have marked cumulative sales of 1 billion Starbucks ready-to-drink (RTD) coffee beverages in Korea since 2006 when they launched the joint business. The achievement is meaningful for both firms as they pioneered the local RTD market, which was scaled at only 170 billion won ($133 million) 17 years ago. In 2022, the market reached 1.45 trillion won.“Any time you hit a billion, this means you reached a critical mass. You have a reason to celebrate,” Vice President and General Manager of Global Channel Development at Starbucks Asia Pacific David Hanson said during an interview with The Korea Times, Thursday. “People have been engaging with you, they are loyal to the brand and you had a long-term f

Jul 30, 2023By Kim Jae-heun

Dongsuh sells 1 bil. Starbucks ready-to-drink beverages in Korea

Companies

Convenience stores face falling profitability due to soaring labor costs

A part-time worker hands over purchased products to a customer at a convenience store in Seoul, April 17. Korea Times fileBy Kim Jae-heunThe owner of a GS25 convenience store in Seoul surnamed Lee, 58, is considering dismissing a part-time worker after the government decided to raise next year's minimum wage by 2.5 percent to 9,860 won ($7.67).“The government does not care about convenience store owners,” Lee said. “It can't expect us to maintain our business while it keeps raising the minimum wage when our sales are stagnating. At the same time, fixed costs such as rental fees and electricity are also rising. If there is a most efficient way to cut costs, it would be dismissing my part-timer worker.”The Minimum Wage Commission voted Wednesday to increase the 2024 minimum wage by 240 won per hour. In terms of monthly salary for part-timers working 209 hours a month, their wage will rise by over 50,000 won each month. Convenience store owners say the only way to increase sales is to open their stores 24 hours or run them unmanned.Holiday pay is another troublin

Jul 27, 2023By Kim Jae-heun

Convenience stores face falling profitability due to soaring labor costs

Companies

Korea could help solve problems in developing world if Expo bid succeeds

Korea Chamber of Commerce and Industry Chair Chey Tae-won speaks to foreign press at Hwigyumjae in Seoul, Wednesday. Courtesy of KCCIBy Kim Jae-heunKorea will be in a better position to help solve a wide range of problems facing developing countries if Busan wins a bid to host World Expo in 2030, according to the head of Korea's largest business lobby, Wednesday.“ Korea has developed over the past 70 years and we do not think we've achieved it on our own. Many countries helped us and it is about time that we pay back the favor,” Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won said during a foreign press briefing in Seoul. “World Expos until now focused on showcasing new hardware and up-to-date technologies. Korea wants to approach it in a different way this time ― offering a solution platform to address the social problems that individual countries around the world have.”Chey, who is also SK Group chairman, serves as co-chair of the Bid Committee for World Expo 2030 Busan.In May, the KCCI came up with a digital solution platform called WAVE

Jul 27, 2023By Kim Jae-heun

Korea could help solve problems in developing world if Expo bid succeeds

Companies

BAT Rothmans strengthens ESG campaign

Chang Yoo-taek, front row center, head of external affairs at BAT Rothmans, poses with participants of the company's business ideas contest during its launching event at company headquarters in Seoul, July 14. Courtesy of BAT Rothmans By Kim Jae-heunBAT Rothmans introduced a new environmental, social and corporate governance (ESG) campaign to seek out novel ideas for tackling environmental problems and attracting investments to related businesses, a company official said Wednesday. The company's Green Idea Contest is being held under the theme of creative ideas in environmental fields such as carbon reduction and resource circulation.“Environmental issues must be addressed with interest by both the business sector and society. Through the contest, we will support young people to bring innovative ideas into reality and further implement them as real environmental businesses,” a BAT Rothmans official said. BAT Rothmans combined its global investment ideas contest Batt

Jul 27, 2023By Kim Jae-heun

Companies

POSCO starts Steel ContiNew sustainable habitat project

Remodeled architecture firm NOMAL in Seoul / Courtesy of NOMAL By Kim Jae-heunPOSCO has launched the Steel ContiNew project, which repurposes abandoned houses as sustainable spaces like coffee shops and restaurants using iron that can be recycled indefinitely, the company said Tuesday. The word “steel” in Steel ContiNew is intended to have a dual meaning, as the word is a homonym of “still” in Korea. As well as referring to the metal, it also indicates that it will “still” continue being used in the future. This is also in line with the concept of projects that aim to transform structures that have fallen into disuse into sustainable buildings. “Korea is currently facing a big problem with the decreasing population due to low birth rates, especially in rural areas. The increase of abandoned houses is a social issue,” a POSCO official said. “Based on the company's management ideology of 'Corporate Citizenship: Building a Better Future Together,' we have launched the

Jul 26, 2023By Kim Jae-heun

POSCO starts Steel ContiNew sustainable habitat project

Companies

Hitejinro's success behind Kelly: Korea's largest brewery in Gangwon Province

Hitejinro's beer production facility in Hongcheon, Gangwon Province / Courtesy of HitejinroBy Kim Jae-heunHitejinro is making every effort to reclaim the No. 1 position in the domestic beer market which it lost to Oriental Brewery in 2012. The efforts began with the company's current best-selling lager beer Terra which was launched in March 2019. The company created a new sensation in the local beer market by selling over 3.6 billion bottles as of February, this year. It is the largest sales record in Hitejinro's beer history. The brewing firm's second mover Kelly, another lager brand launched on April 4, has been powering Hitejinro's march toward the position. After only 99 days of its introduction, the company sold over 100 million bottles of Kelly.The success of Hitejinro's consecutively popular lager beers is attributed to its beer production facility in Hongcheon, Gangwon Province, the largest of its kind in Korea.Hitejinro's Gangwon Plant Manager Lee In-cheol gives a welcoming speech to member of the press at the plant in Hongcheon, Gangwon Province, July 20. Courtesy of Hiteji

Jul 25, 2023By Kim Jae-heun

Hitejinro's success behind Kelly: Korea's largest brewery in Gangwon Province

Companies

GS Entec, Corio Generation sign MOU to develop sea wind power in Busan

GS Entec Executive Vice President Kwon Tae-nyoun, left, shakes hands with Corio Generation Korea CEO Choi Woo-jin after signing a memorandum of understanding to develop offshore wind power in Busan at the GS Entec building in Ulsan, July 20. Courtesy of GS GroupBy Kim Jae-heunGS Entec, an energy equipment manufacturing subsidiary of GS Global, signed a memorandum of understanding with Corio Generation, a global offshore wind development company of Green Investment Group, to exploit eco-friendly energy in Busan, the company official said Monday. Under the deal, GS Entec will support the production and timely procurement of substructures for Busan offshore wind power generators.The energy equipment builder earlier signed a strategic partnership with Sif, the world's No. 1 manufacturer of wind turbine foundations, for the first time in Asia, and introduced monopile technology to enter the offshore wind business. A monopile is a cylindrical structure made by welding a large thick plate and is necessary for installing offshore wind power generators. Corio also signed a business agreement

Jul 24, 2023By Kim Jae-heun

GS Entec, Corio Generation sign MOU to develop sea wind power in Busan

Companies

APR goes global with beauty tech devices

Actress Kim Hee-sun, a global ambassador for AGE-R, poses with the beauty device. Courtesy of APRBy Kim Jae-heunAPR, which manufactures skin care products and casual sports apparel, is showing prominent performance in the beauty tech markets both at home and abroad thanks to rapidly-growing demand for skin care services, according to company officials, Monday. Since the launch of medicube AGE-R, APR has been standing out in the beauty tech sector. AGE-R is a beauty device brand under APR that has grown rapidly with its first product DERMA SHOT introduced in March 2021.The brand further launched other beauty devices such as USSERA, ATS AIR SHOT, Booster-H, and I-SHOT to sell over 1 million products in total in just over two years since its establishment. APR's development is in line with the growth of the home beauty market. Throughout the COVID-19 pandemic, consumers have been taking care of their skin at home instead of visiting a clinic. A U.S. research institute Data Bridge expects the home beauty market to grow to $176.9 billion (227 trillion won) by 2030. “To gain a solid

Jul 24, 2023By Kim Jae-heun

APR goes global with beauty tech devices

Companies

MZ consumers develop taste for whisky

Two models hold newly launched highball products and a bottle of wine at a convenience store in Seoul, April 24. Courtesy of Emart24Liquor sales soar on popularity of highballBy Kim Jae-heunChang Hyun-jae, a 32-year-old woman who lives in Seongnam, Gyeonggi Province, has recently bought two bottles of Suntory Whisky and tonic water at a large discount store to make highballs at home.“Highballs are both easy to make and drink at home. For an office worker like me who likes a strong alcoholic beverage, the highball is a good option. Beer is too light for me and soju gives me too much of a hangover the next day,” Chang said. Soju is a Korean distilled spirit with an average 20 percent of alcohol by volume. Kim Ji-soo, a 28-year-old woman who lives in Yongsan District, Seoul, has also been ordering highballs at her local watering hole quite often these days.“It's tasty. I don't like the taste of soju and beer only makes me feel full. Whisky is a bit strong and wine is too difficult,” Kim said. “Besides, a highball go well with most of my favorite food.&rdquo

Jul 23, 2023By Kim Jae-heun

Kim Jae-heun

Read more

Hana Financial Group chairman joins 'NO EXIT' anti-drug campaign

Dongsuh sells 1 bil. Starbucks ready-to-drink beverages in Korea

Convenience stores face falling profitability due to soaring labor costs

Korea could help solve problems in developing world if Expo bid succeeds

BAT Rothmans strengthens ESG campaign

POSCO starts Steel ContiNew sustainable habitat project

Hitejinro's success behind Kelly: Korea's largest brewery in Gangwon Province

GS Entec, Corio Generation sign MOU to develop sea wind power in Busan

APR goes global with beauty tech devices

MZ consumers develop taste for whisky

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