Coupang will directly import Nitori products, Japan’s largest furniture and household goods brand, and launch them exclusively in Korea.Korean consumers may not be familiar with Nitori, but in Japan, it has been the No. 1 brand in the affordable, but quality furniture market and has a variety of pro
Lotte Chilsung Beverage announced on Jan. 10 that it exported about 25 million cans (250ml) of Milkis to China in 2021.Milkis is a soft drink with sweet and creamy taste of carbonated water added to sweet and soft milk. It is charming the taste buds of Chinese consumers. In particular, it has been g
The U.S. Department of Agriculture and the U.S. Meat Export Federation announced on Jan. 9 that the United States exported 253,175 tons of beef to South Korea from January to November last year, up 16 percent from a year ago. “In that period, the U.S. beef export to Japan, which was the largest U.S.
SK Group has entered the U.S. cell and gene therapy (CGT) contract development and manufacturing organization (CDMO) market. It has entered both the European and U.S. CGT CDMO markets.SK Inc., the group's holding company, announced on Jan. 9 that it has become the second-largest shareholder of C
The Hankook Korus Consortium, which is to produce 500 million doses of the Sputnik V vaccine, is showing signs of breaking up after Russia requested a change from the production of those for the first vaccination to the production of those for the second vaccination, which is less profitable.CKD Bio
Nexon, one of South Korea's leading game publishers, will become the second-largest shareholder of Hollywood film production company AGBO, an independent film and television production company best known for its work in the Marvel Cinematic Universe, most notably "Avengers: Infinity War" and "Av
CJ CheilJedang launched CJ Bioscience, a subsidiary specializing in pharmaceuticals and healthcare, on Jan. 5. The new company is a combination of CJ CheilJedang's red bio unit and Chunlab, a microbiome company acquired by CJ CheilJedang in October 2021.At the launching ceremony, CJ Bioscience p
Global French Wine and Spirits company Pernod Ricard Korea is launching “Make Memories, Not Hangover” campaign from Jan. 6 for a month, as part of their commitment to promoting responsible drinking culture.In the midst of COVID-19 pandemic, where outdoor activities are limited, drinking culture has
Orion Corp., Korea's leading confectionery company, has put a halt to production of potato chips due to difficulties in securing potatoes.The U.S. state of Idaho, the world’s largest potato producing region, suffered a big drop in its potato harvest due to abnormal high temperatures caused by cl
KGC Ginseng Corp. (KGC) has released a world map of best-selling CheongKwanJang Red Ginseng products by country.China takes the lion’s share in the overseas red ginseng market. Like Korea, China has a Lunar New Year culture, so ginseng sales in January and February exceed more than 20 percent of ann
Play-to-earn (P2E) games are expected to change the paradigm of the game market, and related startups are attracting increasing investments.The Blockchain Game Alliance said on Jan. 5 that the sales of NFT-based games added up to US$2.32 billion in the third quarter of last year and the number of re
Daewoong Pharmaceutical's operating profit in 2021 is estimated to have soared five times from the previous year. The profit growth was driven by increased exports of Nabota and a licensing-out deal for a treatment for gastroesophageal reflux disease.Securities companies estimate Daewoong Pharma
Coway Co. unveiled its latest environmental home appliance innovations at the Consumer Electronics Show (CES) 2022 on Jan. 5.The company exhibited its latest innovations in mattresses, water purifiers, air purifiers, and bidets.To engage with more people worldwide, Coway is featuring exhibited produ
Hanmi Pharmaceutical has exported a new drug candidate, which it licensed from a U.S. company six years ago, to a Chinese corporation.This is the first time that Hanmi Pharmaceutical has exported a new drug technology acquired from outside.Hanmi Pharmaceutical announced on Jan. 3 that it signed a co
HYBE has released pajama and pillow products and the products are causing controversy for unusually high prices. Each of the two pajama products has a price of 119,000 won and the price of the pillow is 69,000 won.According to the company, BTS member Jin participated in the planning of the products.
An increase in consumers' use of paid membership in the e-commerce market is fueling competition among e-commerce companies over service fees and benefits.Coupang's Wow membership is currently considered the most reasonable e-commerce paid membership. It offers a variety of benefits in shopp
The Korea Customs Service announced on Dec. 30 that 13,076,000 South Koreans conducted overseas direct purchase at least once between January and November this year.According to it, those in their 40s account for 32.3 percent of them, followed by 30s (30.5 percent), 50s (15.6 percent) and 20s (14.7
Seegene announced on Dec. 29 that it will export 1.7 million doses of COVID-19 diagnostic reagent Allplex SARS-CoV-2 Master Assay, which can diagnose the Omicron variant of the COVID-19 virus, to Israel through a chartered airplane.Earlier this month, the company shipped 2.8 million doses of the Omi
EOFlow Co., a Korean pharmaceutical company specializing in wearable drug delivery solutions, announced on Dec. 28 that its wholly owned U.S. subsidiary, EOFlow Inc. has signed an agreement to establish a joint venture in the U.S. with the U.K. biotech firm Zihipp Limited, a spin-off from Imperial C
NCSoft’s massively multiplayer online role-playing game (MMORPG) Lineage W has started to strengthen its position as a global intellectual property (IP).Lineage W is the latest installment of the Lineage series and was produced for the global market from its planning stage. It was launched in 12 cou