Articles by Lee Yoon-seo
Lee Yoon-seo
yoonseo.3348@heraldcorp.com-
Kakao founder vows to reassess all businesses from ground up
Kakao founder Kim Beom-su said he will review the entirety of the platform giant's services and businesses, including management personnel, from the ground up, ahead of an emergency management meeting held earlier Monday. "(We will) aim to become a company that meets the public's standards by reassessing all of (Kakao's) services and businesses," Kim told reporters at Kakao Mobility's headquarters in Pangyo, Gyeonggi Province. Kim, who currently serves as the head o
Industry Nov. 13, 2023
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[From the Scene] CJ Logistics aims to operate global hub for cross-border e-commerce
INCHEON -- At CJ Logistics' Global Distribution Center, a total of 140 red, box-shaped robots with four wheels zoom across rows of stacked-up bins. The robot then drops down wires and hoists up a bin filled with goods. Carrying the bin, the robot scurries along the metal railings, transporting the bin to the packaging station, where an employee selects a set number of items from the bin to pack into a box for delivery. The robot then bustles back again and heads for another bin, repeating t
Industry Nov. 12, 2023
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[KH explains] End of Chinese tourist boom?
South Korea's tourism and retail industries have long been dependent on China's big spenders traveling to the country in tour groups. So when the Chinese government lifted a travel ban on group tours for its nationals in August, expectations were high about a possible surge in Chinese travelers, the biggest spenders among visitors here, after years of pandemic disruptions. After three months, there is little sign of the so-called “Chinese spending boom.” Experts say that ov
Industry Nov. 9, 2023
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Coupang logs record Q3 earnings, stays in black for 5th straight quarter
South Korean e-commerce giant Coupang announced record third quarter earnings amid an increase in its customer numbers and the strong performance of its core businesses. Coupang has continued its winning streak for five consecutive quarters since reporting profits for the first time in 2022. According to the New York-listed company's earnings conference call Wednesday, the company's quarterly sales for the July-September period logged $6.18 billion, posting on-year growth of 21 percent
Industry Nov. 8, 2023
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BAT design chief stresses responsible design
Global tobacco giant British American Tobacco Group discussed its future design strategies during a design conference held in Seoul last week, highlighting the social and ethical responsibilities industrial designers must undertake when designing heating tobacco products, according to the company on Monday. "The role of designers is changing, from simply designing products to assuming social and environmental responsibilities. This (new role) is not a choice for individual designers to mak
Industry Nov. 6, 2023
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SK Bioscience ramps up global cooperation to improve public health
South Korean pharmaceuticals firm SK Bioscience is ramping up efforts to enhance cooperation with global health care officials, especially in the biopharmaceuticals field in the post-pandemic era. According to the company on Monday, Jean Kaseya, director general of the Africa Centers for Disease Control and Prevention, visited the Korean firm's headquarters on Friday to discuss collaborative measures supporting African countries in developing their own vaccines. During the meeting, the tw
Industry Nov. 6, 2023
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Korean beef prices, poultry shares soar as cattle disease spreads
Prices of Korean beef rose following a series of lumpy skin disease breakouts in cattle across the country, data released Thursday showed. According to data from the Korea Institute for Animal Products Quality Evaluation, the wholesale prices of Korean beef logged an average of 19,365 won ($14.25) per kilogram as of Wednesday. The price saw a 6.5 percent increase compared with 18,179 won a week ago prior to the outbreak. The first confirmed case of lumpy skin disease was reported last Friday. Du
Industry Oct. 26, 2023
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Samsung Biologics quarterly sales hit W1tr for first time
Samsung Biologics said Wednesday it exceeded 1 trillion won ($741 million) in quarterly sales for the first time, following the operation of its fourth plant and profits generated by long-term contract manufacturing orders. According to regulatory filings for the July-September period, Samsung Biologics’ quarterly sales on a consolidated basis hit a record high of 1.34 trillion won, marking 18 percent on-year growth. Operating profits were 318 billion won during the same period, down 2 per
Industry Oct. 25, 2023
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KT, Hyundai E&C, Saudi’s STC team up for digital infrastructure
KT Corp. said Tuesday it will establish a digital infrastructure in Saudi Arabia together with Hyundai Engineering & Construction and Saudi Telecommunication Company (Saudi Telecom), in line with the kingdom’s aims to diversify its industry structure under Saudi Vision 2030. KT said that it signed a memorandum of understanding with Hyundai E&C and STC Group – the parent organization of Saudi Telecom -- in Riyadh on Monday during President Yoon Suk Yeol’s state visit to
Technology Oct. 24, 2023
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Samsung Biologics to offer solutions for Kurma Partners' portfolio firms
Samsung Biologics said Tuesday it inked a partnership with Kurma Partners, a French venture capital firm specializing in financing health care companies, to offer a variety of drug-related services to Kurma Partners' portfolio companies. Under the partnership, Samsung Biologics will provide biotech companies invested in by Kurma Partners with its customizable chemical, manufacturing and control solutions. Customizable CMC solutions refer to drugs-related services such as the development of
Industry Oct. 24, 2023
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Eugene Group wins bid to acquire news channel YTN
Eugene Group, a mid-sized South Korean conglomerate with businesses ranging from distribution to finance, has become the largest shareholder of local news channel YTN, according to industry sources on Monday. The group reportedly acquired a 30.95 percent stake in YTN for about 319.9 billion won ($236 million). The stake in question was previously owned by the state-run Korea Electric Power Corp.’s subsidiary Kepco KDN, an electric power grid service company, and the Korea Racing Authority.
Industry Oct. 23, 2023
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Paris Baguette to expand into Middle East, Africa
South Korean bakery giant SPC Group's flagship bakery chain Paris Baguette will make its first inroad into the Middle Eastern and African market as a part of its efforts to tap into the global halal food market worth some $2 trillion in value, said SPC Group, Monday. SPC Group said it signed a memorandum of understanding with a United Arab Emirates-based conglomerate Galadari Brothers Group on Sunday to establish a joint venture by 2024. Galadari Brothers Group currently operates businesses
Industry Oct. 23, 2023
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[Herald Interview] ‘Sustainability helps employees focus, companies attract talent’
Incorporating sustainability into corporate strategies doesn’t just help the planet, it also helps a company in practical ways — such as attracting more funds and motivating employees, Royal Philips’ head of sustainability told The Korea Herald in a recent interview. “Companies that create and offer sustainable solutions gain more advantages,” Robert Metzke, who oversees the Netherlands-based global health care giant’s strategies for sustainable development,
Industry Oct. 23, 2023
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Asiana to hold board meeting to discuss sale of cargo unit
South Korean air carrier Asiana Airlines will reportedly convene a meeting of its board of directors on Oct. 30 to decide whether or not to sell its cargo business, as a part of its efforts to accelerate its merger with its bigger rival Korean Air, industry sources said Friday. In order for the sale of the company’s cargo unit to be approved, four out of six of Asiana’s directors must agree. "Nothing has been concretely confirmed in regards to the board of directors' meetin
Industry Oct. 20, 2023
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STX issues new shares worth W80b to expand global business
South Korean trading company STX said Friday it had decided to initiate a paid-in capital increase of 80 billion won ($58 million), in a bid to finance funds for expanding its global secondary battery businesses and Trollygo, the company's new business-to-business trading platform to be launched next month. According to STX, the firm held a board of directors meeting at the STX headquarters in Jung-gu, central Seoul, to decide new issuance of a total of 7.36 million common shares. The price
Industry Oct. 20, 2023
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