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.
Oriental Brewery (OB) CEO Bruno Cosentino, left, refuels an eco-friendly beer truck at an EV charging station near Jamsil Sports Complex, May 28. OB plans to change 30 percent of its beer trucks to Calmato electric cargo trucks by 2025. / Courtesy of OB
Cosmetics brand Laneige's new brand logo and monogram / Courtesy of AmorepacificBy Kwak Yeon-sooCosmetics brand Laneige, run by Amorepacific, will undergo a brand renewal for the first time in five years, in a bid to strengthen its moisturizing skincare portfolio, the company said Friday. Under the new concept “Luminous Beauty,” the brand aims to focus on developing products that hydrate and rejuvenate the skin to overcome dryness based on its 25 years of expertise. “We have found that moisturizing is not just an essential step in skincare, but an important factor in maintaining clear and radiant skin,” a Laneige official said. “That's why we decided to revamp our brand concept and extend our research on moisturizers. We will further promote innovative beauty trends.”Throughout the years, Laneige has developed moisturizers to address skin concerns like hydration, pore refining and anti-aging.By rolling out renewed products that relate to overcoming dryness, the brand aims to appeal to all demographics and grab a greater market share.In April, Lanei
Hyundai Heavy Industries CEO and President Han Young-seok, center, announces shareholders' approval of the company's split-up proposal in their meeting held in a gymnasium at the University of Ulsan, Friday. Courtesy of Hyundai Heavy IndustriesUnion vows to take legal action to nullify decisionBy Kwak Yeon-sooShareholders of Hyundai Heavy Industries (HHI) approved the company's split-up proposal to pave the way for the takeover of Daewoo Shipbuilding & Marine Engineering (DSME) amid strong opposition from its union, the company said Friday. With the shareholders' approval, Korea's largest shipbuilder will be divided into Korea Shipbuilding & Offshore Engineering, a sub-holding company merging parts of HHI with DSME, which will carry out shipbuilding and offshore businesses, and a reorganized HHI. The reorganization move came after HHI signed a formal deal with the state-run Korea Development Bank in March to buy DSME.“The physical division is intended to enhance the competitiveness of HHI by taking over DSME. We will do our best to continue to lead the company's growth
By Kwak Yeon-sooPOSCO logoPOSCO has announced an early payment scheme covering research and development costs of its suppliers, in a bid to promote the value of mutual growth, the company said Thursday.So far, the steelmaker has been paying R&D costs in advance for suppliers only when requested. The new program will pay 20 percent of the cost at the start of the project, of which materials exceed 100 million won ($83,955), and the remainder after the project.“The company has decided to launch this program because we know suppliers have a hard time getting approved for a loan even with our contracts,” a POSCO official said.Providing early payment for funds will ease the financial burden on partner companies, whereas POSCO will be able to secure a stable supply of steel materials from its suppliers.
Minister of Trade, Industry and Energy Sung Yoon-mo, second from right, Minister of SMEs and Startups Park Young-sun, second from left, Hyundai Motor President Kong Young-woon, right, and other guests applaud at a groundbreaking ceremony for Hyundai Motor's hydrogen filling station next to the National Assembly building in Seoul, Thursday. / Courtesy of Hyundai MotorBy Kwak Yeon-sooHyundai Motor will build a hydrogen filling station next to the National Assembly building to encourage the use of hydrogen fuel cell electric vehicles (FCEV), the company said Thursday.This comes as the Moon Jae-in administration is stepping up efforts to protect the environment by promoting the use of cars running on sustainable power sources.The commercial hydrogen filling station, taking up a total area of 1,236.3 square meters, will be the first to be built in Seoul or at a government building and is hoped to lead to more widespread use of FCEVs. Construction of such a facility normally takes from eight to 10 months, but the automaker said it will complete it by the end of August. The company is being
Dam failure in the district of southeastern Laos, in this July 24, 2018 file photo. Reuters-YonhapBy Kwak Yeon-sooA panel of international experts has concluded that the deadly dam collapse in Laos last summer was a preventable man-made disaster, blaming SK Engineering & Construction (SK E&C) for the accident, Laotian government officials said Wednesday.The investigators cited poor construction, undertaken by SK Group's construction unit, as the main cause of the collapse, which claimed more than 100 lives, they added.However, the builder has rejected the claim, saying the investigators had no scientific evidence to prove their claim.The accident occurred on July 23, 2018, when a dam at the Xe Pian Xe Namnoy project collapsed following heavy rain, sending torrents of water downstream that flooded villages nearby. According to reports, at least 40 people have been confirmed dead and more than 100 are still missing.“The International Expert Panel (IEP) found that the major cause of the Xe Pian Xe Namnoy Dam collapse was the high-absorbency of the foundation of the saddle
By Kwak Yeon-sooMercedes-Benz Korea President and CEO Dimitris Psillakis / Courtesy of Mercedes-Benz KoreaMercedes-Benz Korea has found success by focusing on high-end models and innovative research and development. As a result, the number of its showrooms has grown to 56 from 35 three years ago. The number of employees, including car dealers, has more than doubled to reach 5,500 over the same period of time.The company is also seeking mutual growth with customers, business partners and local communities.As one of the most important sustainability measures, Dimitris Psillakis, President and CEO of Mercedes-Benz Korea, explained that the company wants to engage people with their corporate social responsibility (CSR) activities. “We did a big switch in the last couple of years to engage more people into joining our CSR activities,” Psillakis said during an interview with The Korea Times. Mercedes-Benz Korea initially had three pillars of CSR activities ― “MobileKids” for children's safety, “Mobile Academy” for training teenagers and “All Togeth
Models promote a wide range of beer products at a Homeplus store branch in western Seoul, Wednesday. The discount chain announced it will hold a “world beer war” festival until June 26. / Courtesy of Homeplus
Ottogi's ready-made grilled fish products / Courtesy of OttogiBy Kwak Yeon-sooOttogi has launched a range of ready-made grilled fish for single-person households and those who prefer not to eat fish at home because they dislike the smell it leaves after cooking. The company's three types of fish for grilling ― mackerel, mackerel pike and Spanish mackerel ― simply need two minutes of microwaving. “We launched a microwavable grilled fish product that is easy to cook and has excellent quality. One doesn't need a cast-iron pan to cook it,” an Ottogi official said.The product has been released because Koreans were found to be the top seafood consumers among 24 countries with high demand for the products. According to 2017 data provided by the Norwegian Seafood Council, Koreans consumed an average 58.4 kilograms of seafood a year per person.Quality mackerel, saury and Spanish mackerel were selected, brushed with green tea and turmeric to get rid of the fishy smell, and seasoned with salt to make sure they are crispy on the outside and moist on the inside.The grilled mackerel is
Former Kolon Chairman Lee Woong-yeol walks into Seoul Central District Court to attend a hearing, May 16. YonhapBy Kwak Yeon-sooShares of Kolon Corp. and its bio-pharmaceutical units plunged Tuesday as the Ministry of Food and Drug Safety canceled the license for its gene therapy drug Invossa over the mislabeling and false reporting of an ingredient used.The holding company of the mid-tier textile- and pharmaceutical-centered conglomerate saw its shares close at 17,200 won ($14.5), down 9.71 percent from the previous day. This was its lowest stock price since Nov. 16, 2012.The Korea Exchange announced the suspension of trading for Kolon Life Science and Kolon TissueGene, the drugmaker's U.S. biopharmaceutical affiliate, after the drug authorities announced the revocation of Invossa's license. The suspension was effectuated after the two companies' stock prices fell dramatically during midday trading.Kolon Life Science suffered a 9.73 percent drop to 25,500 won while Kolon TissueGene plunged by 16.04 percent to 8,010 won. “Because the companies are now considered dangerous for i