E-mart's home meal replacement brand Peacock is entering the overseas market beginning with Hong Kong and the United States this month, the discount retailer chain said Thursday.Although Peacock products have been sold overseas in the past through limited-time promotions, this is the first time that it has been officially delivered as a brand to overseas retail chains.Peacock products are on display at a Market Place by Jasons outlet at the K11 mall in the Tsim Sha Tsui district, Hong Kong. (E-m
The government ordered South Korea's biggest bakery franchise Thursday to directly hire over 5,000 outsourced bakers and staff members at its franchisees, as it has breached the labor law that forbids a franchiser from training and supervising contracted workers. The Ministry of Labor and Employment has given Paris Baguette a correction order to recruit 5,378 employees at 3,396 franchise stores who currently work for the franchise's subcontractors, it said in a statement. The ministry launched a
Standard Chartered Bank Korea, a subsidiary of British banking service Standard Chartered PLC, has launched two new banking cards in partnership with Samsung Card, the company said. Earlier this month, the two companies unveiled the “Standard Chartered Daily Samsung Card” and the “Standard Chartered Life Samsung Card,” their first collaborative products since signing a comprehensive partnership agreement last year. The two companies have come up with the new lineup by jointly making consistent
South Korean chipmaker SK hynix Inc. said Thursday that Japan's Toshiba Corp. has agreed to sell stakes in its memory business to a consortium that includes South Korea's No. 2 chipmaker and US investment firm Bain Capital, although details of the deal are still subject to further negotiations."As details of the approval made by Toshiba's board of directors still need to be negotiated, SK hynix will continue with discussions to best reflect our interests," the company said in a regulatory filing
Samsung Heavy Industries Co., a major shipyard in South Korea, said Thursday that it has developed its own liquid natural gas regasification system for its LNG floating storage and regasification unit.The new LNG regasification system, called S-Regas, uses glycol and reduces the risk of corrosion caused by traditional methods of heating LNG directly with seawater, according to Samsung Heavy. This photo, provided by Samsung Heavy Industries Co., shows its floating storage and regasification unit.
Posco Daewoo, the trading arm of Korean steel giant Posco, hosted a two-day Global Staff Conference at Shanghai, China, to search for ways to bolster its steel and grain business there, the company said Thursday.“The company’s staff working overseas are valuable assets directly linked with our sales capacity, expanding local networks and spotting new business opportunities,” said Posco Daewoo CEO Kim Young-sang.Kim and some 50 employees from 34 overseas branches shared thoughts on ways to expand
The top court on Thursday found a former head of the state-run Korea Development Bank guilty of slandering Lotte Group Chairman Shin Dong-bin. The Supreme Court upheld the lower court's defamation conviction of Min Euoo-sung and a 5 million won ($4,412) fine. Min was sued by Shin and Lotte for telling reporters in October 2015 that Shin Kyuk-ho, the chairman's father and the group founder, was "caged up" in his office at Lotte Hotel in central Seoul and that he was being "surveilled" by his son.
Samsung Biologics Co. said Wednesday its affiliate Samsung Bioepis Co. won a nod from South Korea‘s drug agency to sell its biosimilar dubbed SB5.Through the approval granted by the Ministry of Food and Drug Safety, Samsung Biologics said in a regulatory filing that the biosimilar is ready for sale in the country. Ko Han-sung, CEO of Samsung BioepisThe SB5 is a biosimilar of Humira released by U.S.-based AbbVie Inc., used for the treatment of various diseases including Crohn’s disease and rheuma
Seoul Global Center will host the 2017 International Start-ups Business Fair at Seoul Business Agency in Mapo, Seoul, Thursday.At the fair, 12 start-up companies ran by expat entrepreneurs who come from 11 different countries, will present their business in front of investors, city officials and fellow entrepreneurs.The fair’s organizer Seoul Global Center offers incubation support for expats who seek to start a business in Korea. International Start-ups Business Fair 2016 (Seoul Global Center)“
Lotte Group Chairman Shin Dong-bin urged members of Asia Society Korea to contribute to a peaceful and shared future at an event held by the organization to mark its 10th anniversary on Tuesday.“Now is the perfect opportunity to foster educated global conversations around the world. We have built the bridge and we want to motivate people to cross that bridge together,” said Shin, who serves as the chairman of Asia Society Korea. Lotte Group’s leader and Chairman of Asia Society Korea Shin Dong-b
These days, the key is to go mobile, meaning integrating technologies and solutions onto mobile devices often become the make or break factor in the fast-changing industries. The same goes for a Korean biometric tech firm, Suprema, which is the nation’s largest biometric access solution provider by sales specializing in fingerprint and facial recognition readers for home and businesses. Moving to capitalize on the growth potential of mobile biometrics by expanding its business in fingerprint sca
S-Oil CEO Othman Al-Ghamdi on Wednesday held the company‘s annual charity event to support the underprivileged on the occasion of Chuseok, the company said Wednesday.The CEO and some 100 S-Oil employees made Songpyeon, Korea’s traditional half moon-shaped rice cake served during Chuseok holiday season, and offered them along with groceries and daily necessities to 800 low-income households in the Mapo area, the company said. The country celebrates Chuseok on Oct. 4 this year. S-Oil CEO Othman A
South Korea's corporate watchdog has launched an investigation into Hite Jinro Co., one of the country's largest distillers, for obstructing an investigation, industry sources said Wednesday.Officials from the Fair Trade Commission had previously conducted an on-site inspection into Hite Jinro's alleged violations of local fair trade law in April this year, according to the sources.At the time, some company employees disrupted the FTC's enforcement, they noted. (Yonhap)The FTC has been looking i
South Korean companies are struggling to restructure their wage systems to stave off a possible court battle over "ordinary wage" which serves as the basis for overtime, severance and other payments, industry sources said Wednesday.The move comes as the Seoul Central District Court ruled last month that fixed bonuses and meal costs are part of ordinary salaries and that Kia Motors Corp. should pay an overdue amount of 422.4 billion won ($373.2 million), or 38.7 percent, of what the union has req