Amorepacific has been included in the list of the global top 100 luxury brands in terms of sales. It was the only Korean company to make the list, which was announced by Deloitte Korea on Jan. 6.The combined sales of the top 100 global luxury brands amounted to US$305 billion in 2022, exceeding the
A class action lawsuit has been filed against Osstem Implant, which suffered an employee’s embezzlement case in 2021.Osstem Implant said in a public announcement on Jan. 6 that a class action lawsuit was filed for damages due to a sharp drop in its stock price following the embezzlement case. On Dec
At CES 2023 this week, SK Inc. hosted a food truck for visitors that offered sustainable food including Korean-style shaved ice dessert, "bingsu" – made with animal-free milk from the California-based Perfect Day. The food, located outside the exhibit hall of the Las Vegas Convention Center, also in
Daewoong Pharmaceutical announced on Jan. 5 that it signed a contract with Oncorus of the United States on Jan. 4 for joint R&D and commercialization of lipid nanoparticle (LNP) mRNA drugs.Oncorus is a U.S. a biopharmaceutical company focused on developing next-generation RNA-based immunotherapies.T
Nova One Advisor said in its recent report that the global biotech market would grow from US$1 trillion in 2021 to US$3.88 trillion in 2030. Fortune Business Insights recently said that the global medical hardware industry would grow from US$490 billion in 2021 to US$720 billion in 2029.According to
AIA Group announced on Jan. 6 that Harry Kane, Tottenham Hotspur striker and England captain, has been appointed as an AIA Ambassador. This ambassadorship builds on the 10-year association with Harry through AIA’s partnership with Tottenham Hotspur.Both AIA and Harry share a desire to address mental
At CES 2023, Samsung Electronics and LG Electronics will showcase smart home technologies that connect home appliances with devices outside a home.A hyper-connected smart home is expected to emerge as the most popular subject at CES 2023.For several years, Korean tech giants such as Samsung and LG h
Korea Ginseng Corp. (KGC) announced on Jan. 4 that its representative red ginseng brand, CheongKwanJang, ranked first in Euromonitor International's global ginseng retail sales standings.Euromonitor estimated the global ginseng retail market at US$2.47 billion in 2022. CheongKwanJang accounted f
Airlines and travel agencies are on alert as COVID-19 is spreading again in China.Korean Air is providing nine flights to China a week, was planning to increase the number to 15 late this month, and recently canceled the plan. Likewise, Asiana Airlines will maintain 10 instead of adding four a week.
Coway Co. announced on Jan. 4 that it has been named a CES 2023 Innovation Awards Honoree by the Consumer Technology Association (CTA). The announcement was made ahead of CES 2023, the world’s most influential technology event, happening Jan. 5-8 in Las Vegas, NV.The CES Innovation Awards program, s
EOFlow Co. announced on Jan. 4 that it supported the purchase of EOFlow shares worth 2.5 billion won by its executives and employees.The company supported a total of 30 employees, including all executives and senior managers, to purchase 158,857 EOFlow shares through employee loans. It is worth abou
Pernod Ricard Group announced that its premium vodka, ‘Absolut Vodka’ will move to a partially hydrogen energy-fired glass furnace as the first ever in the spirits industry to produce low-carbon glass bottles. This counts as a significant step towards carbon neutrality.The Absolut Company has signed
Coway Co. announced on Jan. 3 that the company would change its management from a co-CEO structure to a sole-CEO system. Seo Jang-won, the current co-CEO, will become the sole CEO due to the retirement of his co-CEO, Lee Hae-sun who moves into a role as a part-time advisor on Feb. 6, 2023.Seo said,
Korean cosmetics companies have started localization work in Europe and North America, the home of cosmetics. So far, Korean cosmetics companies have sought to penetrate the Asian cosmetics market. But now, they are beginning to target the global cosmetics market. Analysts say Korean cosmetics compa
Coway Co. has launched its new sleep and wellness brand, "BEREX," to create a new market for sleep and wellness care.BEREX stands for ‘Bed & Relax,’ conveying Coway’s vision of delivering sleep and relaxation benefits that go beyond just rest. Coway views sleep and rest as basic human necessities ju
Samyang Corp., a chemical and food affiliate of Samyang Group, announced on Dec. 28 that it has developed Korea’s first eco-friendly polycarbonate (PC) with the post-consumer recycled polycarbonate (PCR PC) content above 90 percent.PC is an engineering plastic that is transparent and resistant to im
LifeSemantics, a Korean company specializing in digital therapeutics (DTx), will unveil Redpill Breath, a digital therapeutics (DTx) for patients requiring pulmonary rehabilitation, at CES 2023, which will be held in Las Vegas in January 2023.LifeSemantics will participate in the Digital Healthcare
"Samsung Highway" is under construction in Williamson County in the U.S. state of Texas. As Samsung Electronics began to build a foundry worth more than 20 trillion won, county authorities has decided to build a highway to commemorate the Korean semiconductor giant’s large-scale investment.Williamso
EOFlow Co., a provider of wearable drug delivery systems (DDS), announced on Dec. 27 that it submitted a 510(k) application to the U.S. FDA for its wearable disposable insulin pump EOPatch.EOFlow plans to enter the U.S., the world’s largest diabetes market, with its current disposable wearable insul
Last month, the number of international flight passengers exceeded that of domestic at South Korean airlines for the first time since March 2020.According to the Ministry of Land, Infrastructure and Transport, the respective numbers were 3,081,000 and 2,853,000 last month. Compared to the same month