In the region's first attempt to initiate a global economic diplomacy, Governor of South Gyeongsang Province Park Wan-soo will make his first overseas business trip to Spain and France in a bid to support local companies' foray into the European markets and attract investments for Korea's aerospace industries, said Gyeongsang Province's investment agency on Wednesday. The trip, which will start in Spain, will see the Korean delegation meet with the Ambassador of Spain to Kore

South Korea's biopharmaceutical firm Celltrion said Tuesday it aims to have five additional biosimilars approved by the end of this year in a bid to dominate the global market worth 100 trillion won ($78.5 billion), along with its existing six products. According to Celltrion, the firm plans to obtain approval for the global licenses of five of its biosimilar products by the end of 2023 to hit the market by 2025. The company has six of its biosimilar drugs currently being sold abroad. The b

Amid dwindling sales in China, South Korean beauty companies are pivoting away from the lucrative market and decamping for greener pastures in the US. Industry watchers say the strategic shift in K-beauty companies comes due to a slew of reasons -- the rising demand for K-beauty products in the US, growth in China’s own cosmetics industry and increasingly nationalist consumers in China. But they also agree China is still “too big to ditch.” Stellar growth in US Korea is one

Popular US burger chain Five Guys will be operating its South Korean business starting on June 26, its Korean retailer Hanwha Galleria announced Monday. FG Korea, a subsidiary under Hanwha Galleria in charge of importing the US burger chain into the country, said it will be opening the chain's first franchise store in the area between Gangnam and Nonhyeon Stations in Gangnam-gu, southern Seoul. According to FG Korea, the outlet, standing on 618 square meters of land, will consist of 150 sea

By Stefan Schmitz Executive director of the Global Crop Diversity Trust Just as the colorful mosaic of banchan dishes enhances a dinner table, Korean – and global – food security is enhanced by crop diversity. Dishes such as kimchi, bibimbap and japchae all contain crops that originated in far-away countries and speak to how we are all interconnected in what we eat. In an interconnected world facing complex challenges, few things are certain. But we must all eat – and I thi

Shinsegae Group’s new paid membership program, called Shinsegae Universe, was unveiled Thursday in an apparent move to lock in customer loyalty across all its shopping platforms and renew its competition with Coupang, the nation’s No. 1 e-commerce operator. "Shinsegae Group evolved into a multi-platform (retail system) that can meet the detailed shopping demands for diverse customers across online and offline (markets)," said Kang Heui-seok, CEO of E-mart, Shinsegae Group&#

South Korean cable maker LS Cable & System said Wednesday it won an order worth some 100 billion won ($76 million) to build the country's largest offshore wind farm in joint cooperation with Hanwha Corporation Engineering & Construction. According to the company, LS Cable & System has been selected as supplier of submarine communication cables for Hanwha Corp. E&C's Shinan Ui offshore wind power project. The project, which is scheduled to be completed by 2026, aims to c

By Tom Heilandt Codex Alimentarius Commission Secretary The demise of Alexander the Great, valiant conqueror of Persia and Egypt and monarch of the ancient Greek kingdom of Macedon, is not one that history books typically associate with a foodborne illness. However, a recent review suggests that it was Salmonella typhimurium enteritis that ultimately brought him down. Similarly, there is one theory that the musical genius, Wolfgang Amadeus Mozart, is thought to have succumbed to trichinosis, w

Despite the recent incident during which a passenger opened the emergency exit door of an Asiana Airlines aircraft before landing, most South Koreans think an airplane's emergency exit should not be difficult to open, a survey found Tuesday. According to a survey of 21,000 respondents by online poll platform Thepol, 44.8 percent (9,500 people) of the respondents said "An airplane's emergency exit door should be able to open quickly and easily during an emergency." Meanwhile,

A large-scale construction project is underway for the establishment of an evacuation shelter in Seoul's Gangnam district amid growing interest for such facilities following the warning alarm sent out earlier in the week, according to industry sources Tuesday. According to Hyundai Engineering & Construction, a South Korean builder in charge of reconstructing Banpo Jugong apartment complex 1 in Seocho-gu, southern Seoul, an extensive underground evacuation shelter is planned to be constr

Lotte Group, the nation’s fifth-largest conglomerate, said Monday it has recently set up a future growth task force at its Korean and Japanese headquarters in an apparent move to accelerate the retail giant’s “One Lotte” strategy. The team, consisting of four members, aims to shape Lotte’s long-term strategy and nurture future growth drivers as well as seek business synergies with Lotte Japan. The team is also expected to function as a communication channel between

The Korea Herald, South Korea’s largest English daily, on Thursday held a charity golf tournament to celebrate its 70th anniversary and renew its commitment to boosting the global potential of Hangeul, the Korean alphabet. About 250 participants, consisting of CEOs across industries, celebrities and sports stars, joined the event held at Serenity Golf Club in Cheongju, North Chungcheong Province. “Based on your support and affection today, The Korea Herald will ramp up efforts for Ha

South Korean handbag maker JS Corp. said Friday it recently lent 100 billion won ($76 million) to its affiliate JS 747, in its effort to gain a controlling stake in Grand Hyatt Seoul, a historic five-star hotel located in central Seoul. In a regulatory filing, JS Corp. reported it decided to lend a total of 100 billion won, which amounts to 39.14 percent of the firm's total equity, to its subsidiary JS 747. JS 747 is a special purpose company, jointly established by JS Corp. and a local ass

Under the searing sunlight, hundreds of customers lined up outside an In-N-Out pop-up store that exclusively opened up for just four hours in Gangnam-gu, southern Seoul, Wednesday. "People have been lining up since 1 a.m.," said a part-time worker at the In-N-Out pop-up store. "We sold out even before we opened -- all the 500 wristbands that are needed for an entry into the restaurant have been given out to the people standing in lines, before 11 a.m.," he added. In-N-Out, of

On the heels of the ever-booming K-wave, Hangeul, the Korean alphabet, is being increasingly employed by both domestic and overseas companies as a unique marketing strategy to promote corporate values and raise brand awareness. Korean food companies seeking to foray into overseas markets are making full use of Hangeul to give themselves credibility and capitalize on the special currency the Korean alphabet holds in the global market. CJ CheilJedang, a Korean food giant whose global food sales ac

Asiana Airlines, South Korea's second-largest airline, said Monday it has halted the sales of seats next to emergency exits following a recent incident in which a passenger opened an emergency exit door before landing. Currently, the air carrier operates two types of A320-200 aircraft, the same model that took flight during the door-opening incident, with 174 and 195 passenger seats, respectively. Sales of the two seats 26A and 30A in each aircraft will be discontinued indefinitely. An Asia

Hundreds of Korean travelers who traveled to Northern Mariana Islands including Guam and Saipan are left stranded on the islands as of Thursday, with Super Typhoon Mawar lashing the territory with strongest downpour of wind and rain the region has seen in decades. According to Hana Tour, a Korean travel agency, approximately 230 travelers failed to take the return flight home on Tuesday due to the storm. "We heard from the local sources in Guam that Guam's airports will be closed until

Korean food makers have won in legal fights against Chinese counterfeiters in a series of lawsuits filed in China, according to the Korea Food Industry Association on Thursday. Of the total seven cases raised, the Chinese court recently ruled in favor of Korean firms in five cases at the first trial stage. Following the rulings, the Chinese companies in question are now required to pay compensation worth 250,000 yuan ($35,353) to CJ CheilJedang, 350,000 yuan to Samyang Food, and 200,000 yuan to

The Ministry of Food and Drug Safety said Wednesday the European Union has decided to ease import regulations for Korean ramen products, 18 months after a mishap with a carcinogen in ramen imports sent to Europe. According to the ministry, the EU will be easing the inspection of ethylene oxide in imported Korean ramen products starting in July. EO, which is majorly used as a fumigant and sterilizing agent, is classified by the World Health Organization as a potential carcinogen. The EU strengt

South Korean food giant CJ CheilJedang said Monday that it recently completed the construction of the world's largest pizza production plant in the US state of Kansas, in a bid to ramp up its competitiveness in the all-important market. According to CJ CheilJedang, the company recently added 40,000 square meters to its frozen pizza production facility in Salina, Kansas. With the expansion, the plant now stands on 90,000 square meters of land, marking it the largest frozen pizza production p