The century-old Italian-South Korean sportswear brand Fila is vying for long-term growth by establishing global consistency in its businesses, chiefly by incorporating ESG values into its operations across the world, according to the firm's chairman. Gene Yoon, chairman of Fila Holdings & Acushnet Holdings, said during an online interview Thursday that Fila will be putting in all efforts to prepare a solid foundation for the company's long-term growth by undertaking more concrete E

Posco International said Thursday it has set a detailed growth strategy for further developing its food business and accelerating its transition into an eco-friendly comprehensive company. Posco International first entered the food business in 2015, where it rapidly grew into one of the largest food companies in Korea. Its latest plan aims even higher – becoming one of the top 10 food companies in the world. “We will tackle the challenge of becoming a major global food company by pro

Korean people love burgers, but potential buyers hesitate to snap up deals tied to global burger franchises like McDonald's due to rigorous headquarter policies that often spark conflict and hinder growth. McDonald's Korea has been struggling to find a buyer since it has been put up for sale in June last year despite double-digit growth of Korea's hamburger market in recent years. According to market research firm Euromonitor, the hamburger market here was valued at 4 trillion won ($2.9 billion)

South Korea's consumer prices grew at the slowest pace in more than a year in April on falling global oil prices, data showed Tuesday, in the latest signal that inflation has receded. Consumer prices, a key gauge of inflation, rose 3.7 percent last month from a year earlier, compared with a 4.2 percent on-year rise in March, according to the report from Statistics Korea. It is the first time in 14 months that the on-year inflation growth fell below 4 percent. The figure rose to over the 4 p

Popular dining menus see 10% growth in prices over past year alone, with no immediate signs of abating

The price for a bowl of jajangmyeon, or noodles in black bean sauce, has soared more than 60 times to 6,361 won ($5) over the past five decades, according to market tracker Korea Price Information. A bowl of jajangmyeon was 100 won in 1970 when the KPI began its first survey, but it had risen to around 2,500 won in 2000. Over the last five years alone, the price has jumped 26.9 percent largely due to growing ingredient prices. The prices of flour, cooking oil, onions and cucumbers used in jajang

Top brewer Oriental Brewery's Hanmac, a rice-based lager beer, has returned with an upgraded design and fresh quality. Hanmac was launched in 2021 to celebrate the 100th anniversary of the nation’s beer history as part of the brewer's ambitious project to become “Korea’s most representative lager." The new version of Hanmac boasts a new, softer mouthfeel and a head with a longer-lasting taste by using a four-step microfiltration process. In addition, the company

HD Hyundai CEO Chung Ki-sun recently visited several US subsidiaries to personally meet with and extend gratitude towards employees whose family members are Korean War veterans, according to the shipbuilding giant Sunday. As a member of an economic delegation accompanying President Yoon Suk Yeol on his state visit to the US, Chung visited HD Hyundai’s local operations in Alabama and Georgia. In particular, he met with six employees working at a HD Hyundai power transformer plant in Alabama

Genesis BBQ Group Chairman Yoon Hong-geun (right) and Rajendra Jagdale, the director general of Science and Technology Park in India, pose after their meeting in Seoul last Wednesday. The two discussed ways for the Korean chicken franchise to enter the Indian market and share its business know-how with local partners.

Korean golfers purchase nearly half of golf apparel globally; Fashion brands flock to launch their first golf wear lineup

Italian luxury brand Gucci will hold a fashion show at a royal palace in Seoul next month, about six months after the event was canceled due to the Itaewon crowd crush, the company said Friday. Gucci plans to showcase its 2024 cruise collection in front of Geunjeongjeon, the main hall of Gyeongbok Palace, in central Seoul on May 16. Geunjeongjeon was used to host major royal ceremonies and receive foreign envoys during the Joseon Dynasty (1392-1910). Gucci's CEO Marco Bizzarri said in a sta

Delivery workers of e-commerce giant Coupang's subcontractors have set up a labor union, calling for better working conditions amid the company’s rapid growth in recent years. According to the Korean Confederation of Trade Unions, one of the major umbrella confederations of unions here, the new labor union held a launching ceremony at the company’s logistics center in Yongin, Gyeonggi Province, on Monday. This labor union primarily includes delivery workers at subcontracted comp

More than 200 times the amount of pesticides permitted on avocados had been detected in those shipped from Colombia to South Korea, according to the Ministry of Food and Drug Safety. In 22,080 kilograms of Colombian avocados imported by a Korean agricultural product trade platform operator Tridge, 2.03 milligrams per kilogram of thiabendazole had been detected. This is much higher than the standard of 0.01 milligram per kilogram set by the Korean regulator. Thiabendazole, a fungicide and pestici

Riding high on healthy eating trend, chicken seller’s samgyetang exports surge to W7.5b last year

South Korean fried chicken franchise Genesis BBQ said Wednesday it recently opened a new restaurant in California in an effort to further penetrate the American market. Labeled under the franchise’s brand name “bb.q Chicken,” it is its 35th outlet in California. The restaurant is located in a bustling business center called Callens Corner in the Orange County city of Fountain Valley. With schools, hospitals, churches and other public facilities in the area, Callens Corner is a