Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Why financial hardship is more likely if you’re disabled or sick 
Visa to Move European Headquarters to London’s Canary Wharf 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Michael Dell Pledges $6.25 Billion to Boost Children’s Investment Accounts Under Trump Initiative 
YouTube Agrees to Follow Australia’s New Under-16 Social Media Ban 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Locked up then locked out: how NZ’s bank rules make life for ex-prisoners even harder 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
Disaster or digital spectacle? The dangers of using floods to create social media content 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
What’s the difference between baking powder and baking soda? It’s subtle, but significant 
Why have so few atrocities ever been recognised as genocide? 
Hyundai Department Store Group and Nestlé Health Science have joined forces for the dietary supplement business in South Korea. The companies signed a contract on Monday, Aug. 21, for a joint development project on health.
With the agreement, Hyundai Department Store will become the exclusive seller of Nestlé supplements in the country. The department store chain also said it partnered with the Swiss food company to expand its own health food business, which it now considers one of its major growth drivers.
The signing ceremony for the memorandum of understanding was held at Nestle's headquarters located in Vevey, Switzerland. Both sides agreed to form a partnership for Hyundai Department Store's exclusive distribution rights of various health food products in South Korea, as per The Korea Herald.
An official of Hyundai's department store unit said, "The bio-healthcare business sector, represented by health functional foods, is an area that is expected to have a high synergy effect with Hyundai Department Store Group's manufacturing and distribution platforms."
He added, "Starting with this strategic business partnership with Nestle, the world's No. 1 food company, we plan to aggressively expand our bio healthcare business portfolio."
The retail giant also said it will actively work with Nestlé Health Science to create next-generation technology for producing health functional food products. The two companies will target patients and elderly customers.
"We are pushing for various new business projects, in line with the group's direction to provide better value for its customers by becoming a close part of their lives," Jang Ho Jin, Hyundai Department Store's president, said. "Through actualizing our aim to aggressively ramp up our bio-healthcare business, we will focus more on securing new growth engines and realizing social values."
Finally, The Korea Economic Daily reported that Hyundai expects the bio and healthcare businesses to create excellent synergy with its own production and distribution platforms. It is also looking forward to the expansion of its partnership with Nestlé for related businesses in the future.
Photo by: Nestle Health Science Newsroom
