![[Graphic News] Online food sales see explosive growth in S. Korea](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=643&simg=/content/image/2021/02/28/20210228000186_0.jpg)
[Graphic News] Online food sales see explosive growth in S. Korea
BusinessMar 1, 2021
South Korea’s online food market posted explosive growth in 2020 from a year earlier due to the fallout from the coronavirus pandemic, data showed. The value of online food transactions in Asia's fourth-largest economy came to 43.4 trillion won ($39.2 billion) last year, up 62.4 percent from a year earlier, according to data from Statistics Korea and industry sources. The online food market surpassed the 40 trillion-won mark last year after reaching 26.7 trillion won the previous
-
Fashion brand Badblood under fire for ‘blackfishing’ on InstagramRetailFeb 28, 2021Asian model’s skin darkened to make clothes ‘look even better’ -
Green Cross subsidiary secures $120m investmentTechnologyFeb 28, 2021Artiva Biotherapeutics, a subsidiary of South Korean pharmaceutical firm Green Cross, announced Sunday that it has secured $120 million in Series B financing to develop natural killer (NK) cell-based cancer therapies. Artiva Biotherapeutics said its new investor Venrock Healthcare Capital Partners has led the latest financing. Other new investors include Acuta Capital Partners, Cormorant Asset Management, EcoR1 Capital, Franklin Templeton, according to the company. The injection of fresh cap
-
Celltrion founder’s first son to join boardroomTechnologyFeb 28, 2021Celltrion founder and Chairman Seo Jung-jin’s eldest son Seo Jin-seok is expected to obtain a seat in the company’s boardroom next month, industry sources said on Sunday. Celltrion is to finalize the appointment of the junior Seo as representative director at the shareholder meeting scheduled on March 26, the sources added. The first son has been serving as senior vice president for Celltrion since 2017. Seo Jin-seok also spearheaded Celltrion Skin Cure, the group’s cosmeti -
Drone delivery service kicks off to deliver items to ships near Busan PortIndustryFeb 28, 2021While the COVID-19 pandemic has impeded the transfer of goods via ship, with stricter rules to limit the number of crew members boarding and coming ashore, a small South Korean venture company is offering a new kind of delivery service using drones. Marine Drone Tech, a drone logistics company based in Busan, is the first company in Korea to officially register a maritime drone delivery service. It received its business registration certificate from the Ministry of Land, Infrastructure and Tr -
S. Korea retains position as 7th largest exporter in 2020IndustryFeb 28, 2021With 5.5% decline, country‘s overseas performance relatively good compared to other economies -
Bill aims to compensate SMEs for losses from virus restrictions, starting in JulyIndustryFeb 28, 2021Small businesses and microenterprises that have suffered due to COVID-19 and the accompanying restrictions could be eligible for government subsidies as early as July, as the legislative process is underway. According to officials with the ruling Democratic Party of Korea and the government on Sunday, their representatives were currently fine-tuning the legal framework to offer compensation to microenterprises that had been ordered to close or scale back their operations as part of the national -
‘Korea’s solar push might end up helping China’IndustryFeb 28, 2021Local firms call for protection against imported solar cells -
Hyundai Motor says sales of IONIQ 5 in Europe show solid startTransportFeb 28, 2021Hyundai Motor Co.'s preorders of its IONIQ 5 all-electric model in Europe showed a solid start, with the carmaker selling 3,000 units in advance orders. According to Hyundai's affiliates in Europe, about 10,000 people applied to buy the electric car in preorders for the IONIQ 5, the first model embedded with Hyundai's own EV-only electric-global modular platform (E-GMP). The move is likely to help Hyundai and its affiliate Kia Motors increase sales of electric cars in Europe. Last week, Hyund -
Mobile carriers boost efforts in sustainable energyTechnologyFeb 28, 2021South Korean telecom companies are stepping up efforts in sustainable energy projects, as they join the country's broader push for renewable energy and commit more to environmental, social and corporate governance (ESG) initiatives. Last Monday, top mobile carrier SK Telecom Co. said it signed a deal with state-backed utility Korea Electric Power Corp. (Kepco) to be supplied with 44.6 gigawatt hours of renewable energy annually as part of its efforts to go green. Along with affiliates under th -
GC WellBeing to repurpose liver drug as COVID-19 treatmentIndustryFeb 26, 2021GC WellBeing will conduct a phase 2 clinical trial of its liver drug Laennec, to repurpose it as a COVID-19 treatment, the Ministry of Food and Drug Safety said Friday. This puts the total count of domestic pursuits for COVID-19 treatments at 14 and vaccines at eight. Among them, Celltrion’s monoclonal antibody regdanvimab is the only one to have been emergency-approved. Laennec is made from human placenta. Having been approved in Korea in 2005, the drug has been in use for 16 years a -
S. Korea nears 13m 5G users in Jan.TechnologyFeb 26, 2021South Korea's 5G subscriptions jumped by over one million for the first time last month to reach nearly 13 million users, data showed Friday. The country's 5G subscriptions reached 12.87 million as of end-January, up 1.02 million from the previous month, according to the data from the Ministry of Science and ICT. The latest data comes amid the popularity of Samsung Electronics Co.'s latest flagship Galaxy S21 smartphones launched last month. The Galaxy S21 series posted 30 percent higher sale -
Hanwha Group Chairman Kim returns to management after 7 yearsIndustryFeb 26, 2021Hanwha Group said Friday that Chairman Kim Seung-youn will come back to management as an unregistered representative of three Hanwha units, ending his seven-year absence. According to Hanwha Group, the chairman will take the post in the holdings firm Hanwha Corp., energy and chemical company Hanwha Solutions and Hanwha Engineering & Construction, starting next month. In 2014, Kim was sentenced to an imprisonment of three years, suspended for five years, for a breach of trust and had to res -
Aberlour Craftsmanship Award names latest recipientRetailFeb 26, 2021Pernod Ricard Korea has chosen the second recipient of the Aberlour Craftsmanship Award, an award named after the single malt Scotch whisky distillery of the same name, to recognize socially responsible talents, the company said Friday. Mun Seung-ji, a furniture designer and the founder of Team Virals, has been given the prize for creating zero waste eco-friendly furniture. “Through the Aberlour Craftsmanship Award, we seek to create a positive impact on consumers by recognizing those wi -
Pfizer vaccine approval in Korea imminent, FDA allows more flexible storageIndustryFeb 26, 2021South Korea on Friday paved the way to approving Pfizer’s mRNA vaccine for COVID-19 as another group of pharmaceutical experts positively opined on the vaccine’s efficacy and safety. On the same day, Korea received enough Pfizer vaccines to inoculate 58,500 people, sourced from the global COVAX facility. This lot, under special import exemptions, can be used without the Drug Ministry’s emergency approval, with the first round of vaccinations to start Saturday for frontlin
MOST POPULAR
-
01Fashion brand Badblood under fire for ‘blackfishing’ on Instagram
-
New cases below 400; virus curbs extended for 2 weeks02
-
03‘Korea’s solar push might end up helping China’
-
Can international court resolve ‘comfort women’ issue?04
-
05S. Korea retains position as 7th largest exporter in 2020
-
[Newsmaker] Child abuse can now lead to death penalty in South Korea06
-
07S. Korea announces innovative syringe method to increase vaccine doses
-
Hyundai Motor says sales of IONIQ 5 in Europe show solid start08
-
09New virus cases in 300s for 2nd day, cluster infections still worrisome
-
[News Focus] Korea’s working-age population falls to 23-year low10