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September 22, 2022
Dyson's Gen5 Detect vacuum cleaner makes debut in Korea
...5 Detect’s battery which lasts an hour on a single charge. The Gen5 Detect retails for 1.39 million won ($997) in Korea and is available for purchase in Dyson demo stores, major department stores, Lotte Hi-Mart electronics goods retail shops and online beginning Wednesday in Korea. A...
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September 20, 2022
Moviegoing returning to pre-pandemic levels
...figures seen in January 2019, according to a study released Monday. The number of moviegoers in the first half of this year surged 178 percent compared to the same period last year, according to a Lotte Members and Shinhan Card big data study conducted by aggregating data from all
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September 20, 2022
Moviegoing returning to pre-pandemic levels
...figures seen in January 2019, according to a study released Monday. The number of moviegoers in the first half of this year surged 178 percent compared to the same period last year, according to a Lotte Members and Shinhan Card big data study conducted by aggregating data from all
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September 19, 2022
Korean drugmakers unfazed by Biden order to beef up US bio sector
...emed advantageous, we will actively consider securing production facilities in the US,” it said in the notice. For companies that have already secured a biomanufacturing facility in the US such as Lotte Biologics, which acquired Bristol Myers Squibb’s manufacturing facility in East S...
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September 15, 2022
Coupang denies local reports on selling Coupang Eats
...any rumors and falsehood, taking legal action (if necessary),” it added. The statement came after some local media reported that Coupang had been working to sell Coupang Eats for the past few months, and that it would soon send a proposal request. It also reported that large firms such as ...
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September 06, 2022
Super typhoon’s approach puts Korean businesses on high alert
...eelmaking processes on Tuesday at the peak of the hurricane there. LG Chem, Hanwha Solutions and Lotte Chemical, which have factories in Ulsan and Yeosu, said they were closely monitoring emergency m...services. Brick-and-mortar stores are bracing for the typhoon harder than last mont...
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September 05, 2022
Lotte Group to build eco smart city, logistics center in Vietnam
South Korean retail giant Lotte Group said Sunday it will build an eco-friendly smart city complex and smart logistics center in Vietnam, as part of its expansion plan to cement a strong foothold in ...h anniversary of Korea’s diplomatic relations with Vietnam. Starting with the smart ci...
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September 02, 2022
[Newsmaker] New jobs for tycoons’ Samsung, SK chiefs to promote Busan Expo
...SK’s Night” event in Washington to meet with US business partners and politicians to ask for support of Busan’s expo bid. Hyundai Motor Group Chairman Chung Euisun, LG Group Chairman Koo Kwang-mo, Lotte Group Chairman Shin Dong-bin and other top executives are also expected to be se...
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August 30, 2022
Lotte grants W14b to KAIST for R&D
Lotte Group, South Korea’s fifth-largest conglomerate, has decided to donate 14 billion won ($10.4 million) to the Korea Advanced Institute of Science and Technology for various research and developm...n February. According to the officials, Lotte Group’s 10 subsidiaries, inc...
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August 25, 2022
Lotte Chemical becomes sole bidder for Iljin Materials
Lotte Chemical has emerged as the sole bidder in the sale of South Korea’s second-largest copper foil manufacturer Iljin Materials, according to a local report Wednesday. Global private equity fund ...pulled out during the bidding process due to Iljin Materials’ high prices and rate hi...
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August 23, 2022
Lotte chief heads to Vietnam on 1st overseas trip since pardon
Lotte Group Chairman Shin Dong-bin will visit Vietnam next month on his first overseas trip after a presidential pardon granted last week lifted a legal hurdle that had limited his business activitie... Korean startups to penetrate the Vietnamese market, as well as nurturing local startup...
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August 22, 2022
Lotte Chemical makes bid to acquire Iljin Materials
Lotte Chemical has reportedly submitted a tender to acquire a controlling stake in South Korean copper foil manufacturer Iljin Materials on Friday. The Seoul-based petrochemical firm is considered o...copper foil. The company currently has an annual copper foil production capacity of 40,...
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August 17, 2022
On presidential pardon, Lotte chief vows investment in biotech, hydrogen
Lotte Group Chairman Shin Dong-bin reiterated his plan for investment in biotech and hydrogen energy after his pardon was announced by South Korean President Yoon Suk-yeol on Friday. “We sincerely t...illion won into the four new business sectors alone. Based on the full-scale investme...
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August 08, 2022
SoCar IPO faces lukewarm response from investors
...t of SoCar’s first-quarter sales revenue came from short-term rentals -- even several hours. Industry insiders pointed out that the company left out any car rental companies like SK Rent-a-Car and Lotte Rental from the peer group in order to receive a higher valuation. SoCar CEO Park...
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August 04, 2022
Car-sharing platform SoCar to go public this month
... car mileage, location, and performance indicators on engines, batteries and vehicle consumables. Domestic players like Hyundai Glovis, a supply chain management arm under Hyundai Motor Group, and Lotte Global Logistics, a logistic firm under the retail giant Lotte Group, hav...
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August 04, 2022
6 Korean firms join cross-border carbon capture, storage project
...erd CCS, the six companies, SK Energy, SK Earthon, Samsung Engineering, Samsung Heavy Industries, Lotte Chemical and GS Energy, signed a memorandum of understanding with Petroliam Nasional Berhad, com... with the project. Samsung Engineering will take charge of business development whi...
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July 31, 2022
Widodo asks Hyundai Motor to join capital relocation project
...of developing the smart city of Songdo in Incheon. Earlier in the day, Widodo also met executives of South Korean companies that run businesses in Indonesia, including Samsung Electronics, SK, LG, Lotte, LX Holdings, KCC, LS Cable and CJ CheilJedang. On the sidelines of the meeting, L...
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July 31, 2022
Shinsegae Food launches plant-based canned ham
...rillion won to 35 trillion won in 10 years. The domestic market size is expected to grow almost tenfold from 11.1 billion won to 100 billion won, in the cited period. Aside from the two retailers, Lotte Food and Nongshim have launched vegan meat brands Zero Meat and Veggie Garden, resp...
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July 26, 2022
Debate reopens on 10-year-old supermarket shutdown rules
... organized. According to the Korea Chainstores Association, which is made up of Homeplus, Emart, Lotte Mart, Costco and other supermarket chains, even though there has been a big shift from offline s...ort that if the government lifts the mandate shutdown rules, theannual sales revenue...
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July 17, 2022
Lotte, Shinsegae to build whiskey distilleries in Jeju
Retail giants Lotte and Shinsegae are set to enter the whiskey business by constructing distilleries on Jeju Island, home to some of Korea’s best-quality water. Lotte Chilsung Beverage, Lotte Group’s beverage arm, said Friday that it has recently received the green ...