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
A Chanel Korea executive accused of habitual sexual harassment was found guilty in the first trial, but is still working with the victims at the same department.According to a report by SBS on Dec. 20, 5 Chanel Korea employees sued the executive for allegations of indecent assault in December 2020.E
The U.S. Consumer Product Safety Commission (CPSC) announced on Dec. 22 (local time) that Samsung Electronics will recall 663,500 washers in the United States due to fire risk.The recall will apply to the company's top-load super speed washers (WA49B, WA50B, WA51A, WA52A, WA54A and WA55A models)
A Korean Air A330 passenger aircraft suffered an engine failure during flight and landed at Incheon International Airport with one engine off on Dec. 22.The A330 airplane, which had departed from Seattle of the United States, detected the abnormality of its second engine over Pohang, Korea at around
Boryung Co. announced on Dec. 21 that it has decided to make a strategic investment of US$50 million in Axiom Space, Inc., a U.S. company promoting the construction of the world’s first commercial space station.In early 2022, Boryung announced the “Care in Space” (CIS) project, with the goal of look
As we approach another new year with COVID-19 in tow, the pandemic still weighs on businesses and organizations of all sizes. The last three years have been a reminder of the need for agility and resilience in business leadership along with a willingness to engage on a global scale. These attributes
Amorepacific participated in the Asian Congress for Alternatives to Animal Experiments (ACAAE) held at the International Convention Center Jeju (ICC Jeju) from Dec. 14 to 16.At the event, Amorepacific held a seminar and shared the results of its research on alternatives to animal experiments and fut
Contera Pharma, Bukwang Pharm's subsidiary in Denmark, announced on Dec. 19 that it has recently opened a new research center at its research center in DTU Science Park in Hørsholm, north of Copenhagen, Denmark.Contera Pharma is a Danish biotech startup specializing in central nervous system dis
Prestige whisky brand Royal Salute presents a new concept of whisky comparable to its reputation. The ‘Royal Salute Cask Programme’ will be unveiled to the global market as well as the Korean market for whisky lovers and investors who recognize the heritage of Scotch whisky and the aesthetics of tim
State University of New York Korea (SUNY Korea) held the Fall 2022 commencement ceremony on Dec. 16 at the IGC Auditorium. A total of 61 students from five different departments (Computer Science, Technology and Society, Mechanical Engineering, Applied Mathematics and Statistics, and Business Manage
Statistics Korea announced on Dec. 13 that South Koreans’ average life satisfaction was 6.3 on a scale of 1 to 10 last year. For reference, the average was 5.7 in 2013 and 6.1 in 2018.The average of those in their 30s, 6.5, was the highest in all age groups. The satisfaction of those in their 50s wa
The sale of Humira biosimilars in the United States is scheduled to start next month. This market is expected to be as huge as US$17.3 billion. More than 10 global biopharmaceutical companies are focusing on it, including Amgen, Samsung Bioepis, and Celltrion. Samsung Bioepis' biosimilar will be
South Korean convenience store companies are expanding their business abroad. They are currently running more than 700 stores in Vietnam, Malaysia, Mongolia, etc.GS25’s first overseas store opened in Vietnam in 2018, when CU opened its first overseas store in Mongolia. CU is currently running 280 in