Articles by Hwang Joo-young
Hwang Joo-young
flylikekite@heraldcorp.com-
Sulwhasoo publishes first sustainability report
South Korean cosmetics giant Amorepacific said Tuesday that its premium skincare brand Sulwhasoo has released its 2023 Sustainability Report, detailing the brand's sustainability initiatives and achievements. Sulwhasoo published the first standalone sustainability report by a brand under Amorepacific. The report comprises three chapters: ginseng, the environment and culture. The first chapter explores Sulwhasoo's journey with ginseng, transitioning from its use in food to beauty produc
Companies April 2, 2024
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HiteJinro’s Kelly sells 360m bottles in first year
South Korean liquor giant HiteJinro said Tuesday that its beer brand Kelly had exceeded 360 million bottles in sales as of March 26, a significant milestone within one year of its launch in April 2023. This achievement is equivalent to selling 11.5 bottles every second, the company said. Kelly's performance has propelled HiteJinro's sales growth. Last year, the liquor manufacturer posted 823.3 billion won ($607.6 million) in beer sales, marking a 5 percent increase from the previous ye
Companies April 2, 2024
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Korea Ginseng Corp. appoints global business chief as new CEO
Korea Ginseng Corp., the country's leading ginseng manufacturer, said Monday that it has appointed An Bin, the company's former global business chief, as its new CEO. “In order to transition into a global top-tier comprehensive health company, we must adopt a 'Global One Market' approach that combines both domestic and overseas markets," An, 51, said in his inauguration remarks. “We will aim to maximize profits in overseas markets while at home we will take a
Companies April 1, 2024
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CJ’s veggie dumplings hit US military shelves
South Korean food giant CJ CheilJedang said Monday it has started selling plant-based dumplings at grocery stores within US military bases in Korea. These Bibigo dumpling products come in three varieties -- original, japchae and kimchi -- all featuring the company’s special vegetable protein based on beans, which provides a taste and texture similar to meat. Starting with dumplings, CJ said it plans to expand its product lineup to include frozen rice balls and gimbap. They added it aims
Companies April 1, 2024
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Hahn & Co shakes up Namyang Dairy's board to cement control
Private equity company Hahn & Co has taken over the boardroom of Namyang Dairy Products to put an end to 60-year family ownership of the dairy firm. During the regular shareholders meeting held at Namyang’s headquarters in southern Seoul on Friday, officials from Hahn & Co were appointed as inside directors, while Lee Myung-Chul, chair of Institut Pasteur Korea, was appointed as an outside director. Previous directors, including Hong Won-sik, chair of Namyang Dairy Products, steppe
Companies March 29, 2024
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More S. Koreans voice dissatisfaction with overseas e-commerce platforms in 2023
More South Korean consumers expressed dissatisfaction with their experiences shopping directly via online platform services based overseas last year, partly attributed to Chinese e-commerce platform AliExpress tapping deeper into the Korean market as well as greater demand for overseas travel among Koreans using online travel agency services based in Singapore, according to the Korea Consumer Agency. According to the KCA on Friday, the total number of requests for advice and reports of disputes
Consumer March 29, 2024
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Chilsung Cider wins global acclaim
Lotte Chilsung Beverage Co., the beverage arm of the South Korean conglomerate Lotte Group, said Tuesday its flagship product, Chilsung Cider, has received global recognition for its high-quality taste. Chilsung Cider was honored with the superior taste award, receiving three stars, the highest distinction in the soft drink category, from the Brussels-based International Taste Institute, the company said. Judged on five criteria including first impression, appearance, aroma, taste, and aftertast
Companies March 26, 2024
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Posco International CEO vows to speed up digital transformation
Lee Kye-in, formerly president of Posco International, took office as CEO of the company, having been appointed to his new position during a board meeting at the company’s headquarters in Incheon on Monday. In his inaugural speech, Lee said, "As CEO of Posco Group's second-largest company, as well as a leading trading company, I will fulfill my responsibilities" to align with the company's new vision, "materials opening the future, innovation for the top class,&quo
Companies March 25, 2024
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Hanjin, Mongolia’s Tuushin ink logistics partnership
South Korean logistics company Hanjin Logistics Corp. said Wednesday it has signed a partnership with Tuushin LLC, Mongolia's leading freight forwarding company, as a strategic move to advance its presence in Mongolia. On Tuesday, Hanjin and Tuushin inked a memorandum of understanding at Hanjin's headquarters in Seoul, with Hanjin Logistics CEO Noh Sam-sug, Chief Marketing Officer Emily Cho and Tuushin LLC President Zorigt Namsraija in attendance. Under the agreement, the two companies
Companies March 20, 2024
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AliExpress lures Korean food companies with hefty incentives
AliExpress, the Chinese e-commerce platform owned by Alibaba Group, has been reaching out to Korean food companies to diversify its product range and gain recognition among Korean consumers. Following South Korean food giant CJ CheilJedang early this month, a slew of Korean food companies are either entering or considering joining the Chinese platform. According to industry sources on Thursday, Dongwon F&B, known for its canned tuna products, and Samyang Foods, famous for its spicy Buldak ra
Companies March 14, 2024
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[Weekender] 'C-commerce' on rise in Korea
Chinese e-commerce platforms, equipped with ultracheap deals, have been gobbling up market share from domestic rivals here. Even as local retailers suggest there has been no serious impact from the Chinese surge, they can be seen ramping up their readiness. According to market tracker Wiseapp, the monthly user counts for AliExpress, Temu and Shein, three big Chinese players, have continuously been hitting new record numbers in Korea. AliExpress, the biggest among them, saw 8.18 million monthly u
weekender March 9, 2024
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Hanwha Ocean hints at entering drilling business
Hanwha Ocean, a South Korean manufacturer specializing in ships and LNG plants, has recently registered two trademarks for new entities, hinting at its expansion into maritime energy development, according to industry sources, Friday. The registration of these two trademarks -- Hanwha Drilling and Hanwha Haeun (the direct romanization of the Korean term for "shipping") -- indicates the company’s intention to broaden its scope from ship and maritime plant construction to maritime
Companies March 8, 2024
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Shinsegae’s 55-year-old heir promoted to chair
South Korean retail giant Shinsegae Group said Friday that it has promoted Chung Yong-jin, the 55-year-old son of the conglomerate’s Chair Lee Myung-hee, to chair with a mission to address the challenges in the country’s retail sector. "The increasingly competitive retail market is facing a wide variety of crisis factors, making 'strong leadership' even more necessary than in the past,” said Shinsegae in a statement released Friday. The promotion came 18 years af
Companies March 8, 2024
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3 Five Guys stores in Seoul rank in global top five for weekly sales
FG Korea, the South Korean operator of the US burger chain Five Guys, said Thursday that its three local stores have ranked in the top five among the burger chain's global branches in terms of weekly sales. At this year’s Five Guys Conference, a biennial event where the US burger chain shares business results with global operators, FG Korea won two awards -- the International Average Weekly Sales Award 2023 and the International Development Award 2023 -- in recognition of their sales
Companies March 7, 2024
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Samyang to ramp up ramyeon production for US exports
Korean food manufacturer Samyang Foods on Wednesday held a groundbreaking ceremony for its new plant in Milyang, South Gyeongsang Province, as the company aims to capitalize on the growing global popularity of its spicy ramyeon brand, the Buldak series, especially in the US market. The new plant, set to be completed by 2025, will have an annual production capacity of 560 million units. With the addition of the new plant, the company's combined production capacity will surge to 2.36 billion
Companies March 6, 2024
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