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Kwak Yeon-soo

Korea Times Digital Content Reporter

Kwak Yeon-soo is a digital editor at The Korea Times creating, editing and curating digital content for the newspaper’s website, mobile app and social media. She previously covered a diverse array of cultural, political and business topics.

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Companies

ABB FIA Formula E Championship will be held in Seoul in 2020

Founder and CEO of Formula E Alejandro Agag, right, poses with Seoul E-Prix 2020 Organizing Committee Chairman Lee Hee-beom, second from right, and other members of the organizer at a press conference held at Hotel Shilla in Seoul, Tuesday. Courtesy of Formula E KoreaBy Kwak Yeon-sooThe ABB FIA Formula E Championship, the world's all-electric race series, will be held in Seoul for the first time on May 3, 2020, the organizing committee said Tuesday. The electric racing series titled “Seoul E-Prix 2020” will be held in the middle of its sixth season in 13 locations across five continents, including Saudi Arabia, Chile, China, Germany and the U.S.The Seoul event is likely to produce an economic effect of 400 billion won ($342 million) and create 2,800 new jobs, according to the organizer. Unlike Formula 1, which requires construction of new tracks and emits ear-blasting engine noises, electric-powered cars will navigate street circuits near Jamsil Sports Complex in Seoul without producing much noise.“Seoul is one of the liveliest cities in the world and has vast exper

Jul 2, 2019By Kwak Yeon-soo
Tech & Science

AmorePacific researcher wins Young Scientist Award in Japan

By Kwak Yeon-sooKim Jue-won, a researcher at AmorePacific, poses with the 2019 Young Scientist Award at the Japan Society for Biomedical Gerontology in Japan, June 8. / Courtesy of AmorePacificAmorePacific bioscience researcher Kim Jue-won won the 2019 Young Scientist Award at the Japan Society for Biomedical Gerontology (JSBMG) for his research on anti-aging, in June. With the feat, Kim became the third foreign scientist and first company representative to receive the prestigious award.Known as the oldest and biggest academic symposium for biomedical and cosmetic scientists in Asia, JSBMG has been granting awards to young scientists since 2002. Judges praised Kim's paper and presentation at the Poster Session for revealing the role of FoxO3a, one of a few genes associated with human longevity, in the correlation of anti-aging and skin whitening, according to the nation's top cosmetics company. “Kim suggested a new way of associating anti-aging and the whitening mechanism of vitamin C and other antioxidants. As a result, he unveiled a biological chain of antioxidants, anti-agin

Jul 1, 2019By Kwak Yeon-soo
AmorePacific researcher wins Young Scientist Award in Japan
Companies

Pulmuone kimchi hits Walmarts across US

Pulmuone's kimchi products / Courtesy of PulmuoneBy Kwak Yeon-sooPulmuone will supply its kimchi products to all Walmart stores across the U.S., the company said Friday. This is by far the largest partnership between a Korean ready-made kimchi manufacturer and the U.S. retailer. The food company said kimchi will be sold at 3,900 Walmart stores and 1,100 Publix stores to target all Americans, not just those of Korean descent. The products will hit the shelves of nearly 5,000 stores by July. Kimchi has long been a staple in Korean cuisine, which could be found only in Asian grocery stores. But it is crossing into the mainstream market in the U.S. thanks to its health benefits. Kimchi contains high levels of vitamins, minerals and antioxidants.“After U.S. magazine 'Health' named kimchi one of the world's five healthiest foods, kimchi has caught on with consumers in the U.S.,” a Pulmuone official said. “More and more consumers are getting a taste for Asian food, and with the Korean wave penetrating America thanks to K-pop artists such as BTS, the millennial and Gen Z co

Jun 28, 2019By Kwak Yeon-soo
Pulmuone kimchi hits Walmarts across US
Economy

FTC to inspect unfair terms of international contracts

Fair Trade Commission Vice Chairman Ji Chul-ho speaks during a meeting with business leaders of European companies hosted by the European Chamber of Commerce in Korea at Lotte Hotel Seoul, Friday. Courtesy of ECCKBy Kwak Yeon-sooThe government will look into unfair terms and conditions of international contracts as part of its efforts to root out practices that harm innovative competition here, Fair Trade Commission (FTC) Vice Chairman Ji Chul-ho said Friday. The move comes as there have been growing complaints about contracts signed between Korean firms and foreign companies operating here.At the meeting with European business leaders hosted by the European Chamber of Commerce in Korea (ECCK) at the Lotte Hotel Seoul, Ji unveiled his plan during a speech titled “The FTC's Policy Direction,” highlighting Korea's policies and regulations on large business groups.“As part of our plan to monitor the abuse of market dominance, we could search multinational firms and request them to disclose international contracts,” Ji said. “We've been receiving many compla

Jun 28, 2019By Kwak Yeon-soo
FTC to inspect unfair terms of international contracts
Companies

BAT Korea produces more than 300 bil. cigarettes

BAT Korea CEO Mattieu Juery speaks at an event celebrating an accumulated production of 300 billion cigarettes at a factory in Sacheon, South Gyeongsang Province, Thursday. / Courtesy of BAT KoreaBy Kwak Yeon-sooSACHEON ― British American Tobacco (BAT) Korea has surpassed an accumulated production of 300 billion cigarettes as of June, reaffirming its goal to leverage Sacheon factory into a global export hub, the company said Thursday.This came just three years after reaching a cumulative production of 200 billion cigarettes in 2016.The tobacco company, whose flagship brands include Dunhill, Kent and Rothmans, has been carrying out a localization initiative to nurture its Korean unit as a key export hub.Sacheon factory has been serving as BAT's main production facility in the Asia-Pacific region since it began exporting cigarettes in 2004. Recognized for its outstanding productivity, quality and cost savings, the manufacturing plant currently ships tobacco products to 15 countries, including Japan, Taiwan and Australia. Sacheon factory annually produces over 34.2 billion units as of 2

Jun 27, 2019By Kwak Yeon-soo
BAT Korea produces more than 300 bil. cigarettes
Companies

Daewoo E&C to filter fine dust with upgraded 5ZCS

A diagram of how 5ZCS works / Courtesy of Daewoo E&CBy Kwak Yeon-sooDaewoo Engineering & Construction (E&C) will upgrade its Five Zones Clean Air System (5ZCS) to filter the air at its new apartment complexes, the company said Wednesday.The 5ZCS is a customized technology which can be applied to control the fine dust level in each zone of an apartment complex. It enhances the air-cleaning function by spraying mist into the air and implementing a high-efficiency particle absorber (HEPA) filter. The construction company said it exclusively developed 5ZCS in August 2017 to remove fine dust in Prugio apartments. It will provide 5ZCS to Isu Prugio The Pretium and Unjeong Park Prugio apartment complexes, which are expected to go on sale this year.The entrances of Daewoo E&C's new Prugio apartment complexes will be equipped with fans, which will reduce vehicle exhaust fumes and fine dust.Underground parking lots, lobbies and hallways will feature systemized clean air systems, while air conditioners with clean filters will be installed in elevators to improve ventilation and

Jun 26, 2019By Kwak Yeon-soo
Daewoo E&C to filter fine dust with upgraded 5ZCS
Companies

P&G, Henkel, SC Johnson hit for ignoring safety accord

By Kwak Yeon-sooHenkel Korea President Kim Yu-seokThree multinational consumer goods companies ― P&G Korea, SC Johnson Korea and Henkel Homecare Korea ― are in the hot seat for refusing to join the “renewed” agreement of household chemical products and biocides safety management.The three importers were the members of the first agreement, which lasted for two years from February 2017 until February 2019. The government rolled out its household chemical products safety management plan in November 2016 after the humidifier biocide scandal hit the nation, which resulted in more than 100 deaths. Under guidance of the Ministry of Environment, the Korea Federation for Environmental Movements (KFEM) and Eco Justice, the multinational companies were required to disclose information on chemical ingredients of products, implement an internal audit of product ingredients and follow safety management guidelines for household chemicals. “We understand that it could be tricky for global companies to disclose all product ingredients, but the only difference from the first agre

Jun 26, 2019By Kwak Yeon-soo
P&G, Henkel, SC Johnson hit for ignoring safety accord
Companies

Promoting happiness

SK Group Chairman Chey Tae-won listens to a presentation during an in-house forum held at SK Management System (SKMS) in Icheon, Gyeonggi Province, Tuesday. At the forum, Chey stressed the importance of maximizing happiness at work. / Yonhap

Jun 26, 2019By Kwak Yeon-soo
Promoting happiness
Companies

Shinsegae goes after Coupang, Market Kurly in 'dawn delivery'

SSG.com CEO Choi Jung-woo delivers an opening speech during an NE.O 002 logistics center press tour in Gimpo, Gyeonggi Province, Tuesday. Courtesy of SSG.comBy Kwak Yeon-sooSSG.com, the online shopping mall of Shinsegae Group, will roll out a “dawn delivery” service, betting on the fast-growing online delivery market of fresh goods, the company said Tuesday.The service allows orders to be placed as late as midnight with deliveries guaranteed to arrive by 6 a.m. the next day. Daily necessities and fresh food products are among the most popular items, according to SSG.com.In recent years, fast delivery services have reshaped Koreans' shopping habits, amid the increasing number of working moms, single-person households and those who prefer premium groceries delivered by Coupang, Market Kurly and others.The latest move also comes in line with Shinsegae Group Vice President Chung Yong-jin's plan to increase annual sales of its e-commerce unit fivefold to 10 trillion won by 2023.“Buoyed by the fact that our NE.O logistics centers are equipped with automation facilities, a

Jun 25, 2019By Kwak Yeon-soo
Shinsegae goes after Coupang, Market Kurly in 'dawn delivery'
Tech & Science

KITA holds business week to strengthen ties with ASEAN countries

Korea International Trade Association (KITA) Chairman Kim Young-ju delivers an opening speech at “2019 Korea-ASEAN & India Business Week” held at COEX in Seoul, Tuesday. / Courtesy of KITABy Kwak Yeon-sooKorea International Trade Association (KITA), in cooperation with the Presidential Committee on New Southern Policy, successfully held the “2019 Korea-ASEAN & India Business Week” at COEX in Seoul on June 24 and 25.The forum took place in a bid to help entrepreneurs and businesspeople to find better opportunities in the emerging ASEAN market, according to KITAUnder the theme “Digital Economy, One Asia,” the forum consisted of dialogues, seminars and one-on-one business meetings. About 800 government officials, executives from global companies, industry experts and businesspeople attended the event to strengthen cooperation and provide support for Korean small- to mid-sized companies to expand their export channels. “ASEAN's digital economy is very progressive. The business week will serve as an opportunity for Korean firms to venture

Jun 25, 2019By Kwak Yeon-soo
KITA holds business week to strengthen ties with ASEAN countries
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