Korea Ginseng Co., the country’s leading ginseng manufacturer, said Tuesday that it donated 1 billion won ($843,000) worth of ginseng products to support the medical personnel and public servants dealing with the COVID-19 crisis. Before making the donation, the company said, it organized a walking campaign from Aug. 3 to Friday, and vowed to donate the goods if participants met the target of 500 million steps. In response, about 10,000 people recorded 570 million steps via the CheongKwan

Renault Samsung Motors’ compact sport utility vehicle XM3 is gaining praise from young consumers for its unique design, according to market watchers. The XM3 reportedly sold 10,000 units in just 49 days after its release in March, a record for the company. The compact SUV sold over 5,000 units monthly for four consecutive months following its launch, accumulating sales of 24,161 units as of July -- the highest figure in four months, in the domestic compact SUV market. The vehicle&rsqu

Ikea Korea said Tuesday it saw sales grow by over 30 percent in the fiscal year of 2020 following increased interest in home furnishing amid COVID-19. Holding an online press conference via Zoom, Ikea Korea Country Retail Manager Fredrik Johansson revealed that the home furnishing retailer recorded a turnover of 663.4 billion won in the fiscal year of 2020 (from September 2019 to August 2020), growing 32.6 percent on-year. During the period, the number of visitors to Ikea also increased. Th

BMW Korea said Monday it is launching three new limited edition models online to celebrate 25 years in Korea. The automaker will be releasing two sport activity vehicles -- X5 M50i and X6 M50i -- and the sport sedan M340i in its signature metallic gray. Only 25 of each of the models will be on sale at BMW Shop Online, the automaker’s online platform, at 2:05 p.m. on Tuesday.  The SAVs are limited editions based on the M performance model M50i. The automaker said it is introducing

JTI Korea is introducing a same-day delivery service for its tobacco-infused vapor device Ploom Tech, via Naver Shopping, the company said Monday. Implementing the new service in Seoul first, the company said all orders made before 9 a.m. on Naver Shopping, an e-commerce platform, will be delivered on the same day. The company is an official retailer of Ploom Tech on Naver Shopping‘s smart store, and all users verified to be over 19 can make purchases on the platform, JTI Korea explain

All buildings -- whether residential or commercial -- have certain management systems to prevent unexpected dangers. These systems include a wide range of facilities and services, from ventilation and cooling to fire detection and security systems. Though they often go unnoticed or are hidden behind the walls, they have to continuously evolve. “Whether a building is smart or not is decided by how its management control system is integrated to provide the most efficient solutions,&rdquo

Shinsegae Food, the food arm of retail giant Shinsegae Group, said Sunday it is injecting 9.8 billion won ($8.23 million) into its US-based food manufacturing facility as it seeks to bolster the ready-made food business in the market. According to the company, it is plowing funds to Chang Tuh Corporation, the operator of a manufacturing plant for ready-made products in the US. Shinsegae Food acquired Chang Tuh Corp. for 12.1 billion won last year from Emart, a hyper mart giant under Shinseg

US automotive distributor HAAH Automotive Holdings is preparing to submit a binding offer to invest in SsangYong Motor, according to media reports here Thursday. Experiencing a liquidity crisis, SsangYong Motor’s major stakeholder, India’s Mahindra Group, announced it will lower its stake from the current 75 percent to less than 50 percent, and that it is willing to give up its top shareholder position if it finds a new investor. A bidder makes a binding offer to acquire a compa

The instant noodle market recorded all-time high sales of 1.13 trillion won ($952.2 million) in the first half of this year, largely affected by the COVID-19 pandemic, data showed Thursday. Releasing the data from Nielsen Korea, Nongshim, a South Korean food company, said the industry grew 7.2 percent from the same period last year, with its highest-ever semiannual sales. According to the data, sales of instant noodles in the first half of 2019 amounted to 1.05 trillion won, and annual sales

South Korean food companies scored massive sales growth in the wake of the COVID-19 pandemic, as the demands increased for products that can be consumed at homes, in both domestic and overseas markets. In the second quarter this year, CJ CheilJedang recorded an operating profit of 384.9 billion won, up 119.5 percent from the same time last year. The figure is the biggest quarterly figure recorded for the company. Its sales stood at 6.92 trillion won, increasing by 7.4 percent on-year, with th

Hyundai Department Store Group decided Tuesday to acquire SK Bioland, a cosmetics firm under SK Group, expanding its beauty and health care business. According to the group, its affiliate Hyundai HCN, a cable channel provider, held a board meeting to decide on purchasing 29.7 percent of SK Bioland’s share with 120.5 billion won ($101.7 million). “We made the final decision for acquisition, finding that SK Bioland’s major businesses have a high potential for growth and has

Baemin, or Baedal Minjok, the country’s No. 1 delivery app by market share, said Tuesday that it has started operating the country’s first outdoor delivery robot, which delivers food from a restaurant to an apartment building. According to Woowa Brothers, the delivery app operator, it is now using five Dilly Drives, its outdoor autonomous delivery robot, at Alleyway Gwanggyo, a residential and commercial complex located in Gwanggyo, Gyeonggi Province. Residents of the 1,100 hous

South Korean tobacco maker KT&G said Tuesday it has launched lil Solid, its heat-not-burn e-cigarette, and three Fiit tobacco sticks, in Russia together with Philip Morris International. It is the first time for the Korean company to enter an overseas market with its e-cigarette product. KT&G and PMI established a strategic alliance in January, in which KT&G distributes its HNB e-cigarettes to overseas markets using PMI’s distribution networks for the first three years. The

With the COVID-19 pandemic, some priorities have become universal -- hygiene, personal safety and social distancing. With the pandemic showing no signs of abating, experts say these factors will ultimately change the way people consume food. In turn, related industries should gear up for the “new normal.” “The increased awareness of food safety, and demands for healthy food and preference for noncontact transactions … such consumption patterns will continue for a lon

Kim Jae-shin, secretary-general of Fair Trade Commission, has been appointed by Cheong Wa Dae as the vice chairman of the antitrust government agency on Friday. It was part of the presidential office’s reshuffle of vice minister-level officials. Kim, who started his career at FTC after passing the civil service exam in 1990, is said to be an expert on policymaking regarding business practices. He served at various bureaus, including planning and coordination, business trade policy, c

Delivery workers at major logistics firms took a day off Friday, for the first time in 28 years since the introduction of a delivery system in the country. The companies have designated Aug. 14 as “Delivery worker’s refresh day,” amid surging workload in the wake of COVID-19 pandemic. CJ Logistics, Hanjin, Lotte and Logen -- four major logistics companies here -- decided last month to give their delivery staff a day off, after they accepted the demand of two labor unions of

Hyundai Motor said Friday its electric compact sports utility vehicle Kona Electric succeeded in driving over 1,000 kilometers on a single battery charge, setting a new range record for electric vehicles. The auto maker said it had conducted a test run of three Kona Electric vehicles, the company‘s pure electric car brand, at EuroSpeedway Lausitzring, a racing circuit located in northeast Germany from July 22 to 24. Each of the three vehicles went 1,026 kilometers, 1,024.1 km and 1,01

Starbucks Korea said Thursday it has donated 200 million won ($168,900) to support preservation of independence cultural heritage and provide scholarships to the descendants of independence patriots. As Saturday marks the country’s National Liberation Day, the coffee chain said it held a ceremony Thursday to deliver 100 million won to Cultural Heritage Administration and the National Trust for Cultural Heritage. The funds will be used to purchase and preserve cultural heritage artifact

Posco, South Korea’s largest steelmaker, said Thursday it succeeded in developing the world’s first free cutting steel using graphite, and is set for mass production of the eco-friendly steel named PosGRAM. With its new development, Posco said it will be able to raise the country’s industrial competitiveness, as PosGRAM would replace lead free cutting steel, of which its entire supply has been imported. Free cutting steel refers to the steel that is high in strength, easy t

Foreign brands operating in South Korea are lending a helping hand to recovery efforts during the record-breaking monsoon season. McDonald’s Korea said Wednesday it will donate burgers and drinks for 5,000 volunteers and soldiers who are working to combat the flood damage in provinces hit hardest by the heavy downpours. The burger chain will distribute Big Mac burgers and drinks for those helping recovery efforts in seven regions including Cheorwon and Chuncheon in Gangwon Province, Ch