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An aerial view shows Singapore's southern island of Semakau.

Smart Energy Management

27 October 2016 - 11:15am

LS Industrial Systems Co. (LSIS), a South Korean electric power solutions provider, announced on Oct. 26 that it has won a license to establish a renewable energy-powered island in Singapore, along with global firms such as GE-Alstom and Schneider.

The company signed a memorandum of understanding (MOU) with the government-funded Energy Research Institute (ERI) at Nanyang Technological University in Singapore on the 25th to set up the microgrid system on Semakau, an island in southern Singapore.

The project is divided into four land areas on Semakau, each administered by a...

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Logistics Alliance

12 October 2016 - 12:30pm

SK Holdings C&C announced on Oct. 11 that the company signed a contract to found a joint venture for the global convergence logistics business with JUSDA, a global logistics subsidiary of the Hon Hai Group’s Foxconn. The new joint venture firm will be registered as an affiliate of SK Holdings C&C in October. The company is planning to engage in the logistics BPO business for overseas markets such as China.

Both companies predict that the new company will secure new consignors by mixing JUSDA’s logistics capabilities and SK Holdings C&C’s ICT excellence.

First of...

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The G-Startup Worldwide co-founders Barret Parkman (far left) and E Hao (third from left) pose for a photo with Gyeonggi Center for Creative Economy and Innovation head Lim Deok-rae (second from left) and manager Lim Dong-wook (far right).

Startup Competition Event

7 October 2016 - 11:15am

The G-Startup Worldwide Seoul will take place on December 2, 2016 during the creative economy expo hosted by the Gyeonggi Center for Creative Economy and Innovation.

As a global event jointly sponsored by Global Mobile Internet Conference and GWC, a global mobile innovation platform, it is a startup competition held in major cities around the world to find the most innovative, early stage startups.

The G-Startup Worldwide was hosted at each Global Mobile Internet Conference (GMIC) in 2016 including Tel Aviv, Beijing, Tokyo, Jakarta, Sao Paulo, offering US$1 million (1.12...

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The AmorePacific’s booth at the 2016 TFWA World Exhibition & Conference.

Targeting Duty Free Market

7 October 2016 - 11:15am

AmorePacific, the country's leading cosmetics company, is taking part in the 2016 TFWA World Exhibition & Conference held in Cannes, France, from October 2 to 7.

The TFWA World Exhibition & Conference, the world’s largest tax free and travel retail event, takes place twice a year in Cannes, France, and Singapore, hosted by the Tax Free World Association. The event being held in Cannes this year is participated in by 516 companies from 37 countries around the world. The firms is introducing nearly 3,000 premium products at the trade show.

AmorePacific Group is...

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A captured image of the official website of the Canadian Food Inspection Agency.

Recalled Korean Noodle

7 October 2016 - 10:30am

The Canadian Food Inspection Agency (CFIA) announced on September 26 that it has ordered to recall Korea’s Paldo brand Bibim Men, an oriental style noodle spicy taste, from the marketplace because they contain mustard and sesame which are not declared on the inner package label.

According to the CFIA’s official website (, the recall was triggered by the complaint of a consumer with mustard or sesame allergies...

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It is expected that cruise ship tourists to South Korea will break through two million beyond the original target of 1.5 million this year.

Cruise Tourists

6 October 2016 - 2:45pm

It has been found that tourists from cruise ships through ports of call such as Busan, Incheon and Jeju surpassed 1.48 million late last month for the first time. According to data on cruise ship tourists at ports of call released by the Ministry of Maritime Affairs and Fisheries on October 5, 1.48 million tourists entered port for a total of 585 voyages – 373 voyages (920,000 passengers) at Jeju Port, 162 voyages (430,000 passengers) at Busan Port, 48 voyages (120,000) at Incheon Port among others. This figure is an increase of 130% from a year before and up 66% from 2014.


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Ikea Korea’s retail manager Andre Schmidtgall.

Under Controversy

6 October 2016 - 12:15pm

Swedish home furnishings retailer Ikea held a press conference at the Times Square shopping mall in Seoul on September 22 to report its business results in Korea and launch its kitchen appliances.

Andre Schmidtgall, country retail manager at Ikea Korea, said, “Sales of Ikea Korea this year amounted to 345 billion won (US$309.69 million), up 17 percent from last year, and we will start selling kitchenware such as dishes and cups from this month.” The company also announced its plan to open a second store in Goyang, Gyeonggi Province, in the second half of next year.

Ikea Korea...

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A store selling Choco Pie Banana in Taiwan.

Choco Pie Banana

6 October 2016 - 12:00pm

Korean snack and confectionary maker Orion Group announced on October 5 that it started selling “Choco Pie Banana,” the best-selling product in the domestic confectionery this year, in the global market. The group exported the first batch of 200,000 boxes of Choco Pie Banana to Taiwan, Australia and the Philippines and started selling the product there from the last week of September. It plans to sell its sales regions to 10 countries including the United States and Canada as well as the first exporting countries.

As rumors that there is a craze for Choco Pie Banana among foreign...

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The Samsung Group has increased the capital of Archigen Biotech Limited.

To Strengthen Bio Biz

5 October 2016 - 11:45am

The Samsung Group preparing the IPO of Samsung BioLogics, a bio drug CMO company began to nurture the bio industry in all directions while increasing the capital of Archigen Biotech Limited. This means that the group will organize a bio trio with Samsung BioLogics, Samsung Bioepis, a biosimilar product developer and Archigen Biotech.  

According to the bio industry on October 3, Samsung BioLogics will use some of funds raised through the IPO of Samsung BioLogics to increase the capital of Archigen Biotech.     

“Some capital increase is needed for clinical tests and the...

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KGC’s employees analyzes ginsenosides in red ginseng approved by the KOLAS.

For First Time in World

5 October 2016 - 10:45am

Korea Ginseng Corporation (KGC) saw its analysis of “ginseng ginsenosides” be recognized by the state-run Korea Laboratory Accreditation Scheme (KOLAS) for the first time in the world.

The analysis recognized by the KOLAS has set an international standard for ginseng, secured the competitive edge on exporting and led the global ginseng market.

Previously, KGC received the international certifications on crop protectors, heavy metals, inorganic components, microbes and nutritional contents. This time, the company also gained approval on the suitability of ginsenosides....

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