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Reporter : Kim Jae-heun
Fri, July 1, 2022 | 02:00
Kumho Petrochemical Group invests in new growth engines
Kumho Petrochemical Group is strengthening its main business of petrochemicals while also continuing to invest in new growth engines including secondary battery materials for its sustainable growth. It is planning to acquire a 100 percent share in its affiliate Kumho Polychem while acquiring Kumho Resort.
Naver Smart Store strengthens regulations on foreign sellers
Naver, Korea's top web portal service operator, is strengthening regulations on foreign nationals selling items through its Smart Store platform, aiming to clamp down on the sales of counterfeit products, according to industry watchers Wednesday.
Customers, restaurants move to boycott Baemin, Coupang Eats over soaring delivery fees
Some restaurant owners are gearing up to boycott Baedal Minjok (Baemin) and Coupang Eats, after the two companies raised delivery fees sharply, according to industry watchers, Tuesday. In addition, a growing number of consumers are choosing not to have their food delivered because of soaring fees and opting instead to pick up their orders.
'It's too expensive to dine out'
A 33-year-old office worker in Seoul surnamed Kim said he doesn't know how other people are coping with soaring food prices. “It is too cruel for me. There isn't any food that is cheap anymore. I might have to pack my lunch from now on,” he said.
Baedal Minjok cracks down on false restaurant reviews
Woowa Brothers, operator of the country's largest online food delivery platform Baedal Minjok, has blocked 114,054 fake restaurant reviews utilizing various technical tools including real-time monitoring and artificial intelligence, the company said on Monday. This has resulted in the number of suspected misleading reviews decreasing by more than 60 percent over the past year
E-mart enters 'quick commerce' market despite possible loss
The country's largest retailer E-mart has launched a quick commerce service called SSG Go starting Thursday. It is a late start considering that other e-commerce firms like Woowa Brothers and Coupang are leading the market after introducing the service last year. The competition has intensified as various players such as convenience stores, super markets and food franchise bu...
SPC, BBQ and E-Land affected by extended lockdown in Shanghai
Korean firms operating in Shanghai are concerned, as the city has extended its COVID-19 lockdown to the entire city of 25 million. The Chinese government had been anticipated to lift the lockdown last Tuesday, but it ended up extending it indefinitely, as the spread of the virus has not yet slowed down.
Musinsa's counterfeiting scandal pours cold water on online luxury market
A counterfeit scandal involving Korea's largest fashion platform, Musinsa, has raised concerns among online luxury goods sellers that the recent incident could pour cold water on the rapidly-growing online resell market, according to retail industry officials on Wednesday.
Dongwon F&B launches new brand of smoked ham
Food manufacturer Dongwon F&B has introduced a new brand of meat products called “Grilly.” The name is a combination of the English word “Grill” and the letter “y” aiming to communicate the great flavors of its products, which are roasted in an oven and then grilled.
Food companies to hike prices amid soaring raw materials prices
Food manufacturers are expected to further increase the prices of their products amid a worsening global supply shortage of cooking oil, wheat and other raw materials due to Russia's invasion of Ukraine, according to industry analysts, Tuesday. This will place a heavier financial burden on households here, which have been grappling with the fastest increase in food prices see...
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