Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
DBS Expects Slight Dip in 2026 Net Profit After Q4 Earnings Miss on Lower Interest Margins 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Hyundai Oilbank and Lotte Confectionery have partnered to engage in the production of biodiesel using disposed oil products. The South Korean petroleum and refinery company based in Seosan, South Korea, announced its new deal with the Seoul-headquartered confectionery firm on Monday, Aug. 1.
Korea Joongang Daily reported that through the signed deal, Lotte Confectionery would supply Hyundai Oilbank with by-products that were produced during the food manufacturing process in its plants. These are mostly used as cooking oil since the company makes snacks and other food items.
The collected oil will be processed by Hyundai Oilbank and will be used as feedstock for biodiesel. The companies are also said to be mulling entering a joint venture agreement for overseas expansion plans as well as raw material procurement business. Part of the plan is to further widen their cooperation to other business areas outside of feedstock procurement.
With the partnership, Lotte Confectionery will be delivering its used oil products to Hyundai Oilbank’s factory. Its biodiesel production facility is said to measure 10,000 square meters or around 107,639 square feet, and it sits in its Daesan plant located in Seosan, South Chungcheong.
The facility is the first stage of Hyundai Oilbank’s in its biofuel business expansion. The new biodiesel production plant is expected to be completed some time in 2023. The plant has a capacity to produce 130,000 tons of biodiesel per year.
“HD Hyundai and Lotte Group have been strengthening the partnership with each other through Hyundai Chemical, a joint petrochemicals company between Hyundai Oilbank and Lotte Chemical,” Hyundai Oilbank’s head of global business, Lee Seung Soo, said in a statement.
The executive added, “We expect this collaboration to mark another starting point for the two companies to explore new opportunities for joint businesses, taking it a step further from a simple business transaction.”
Meanwhile, Aju Business Daily reported that Hyundai Oilbank and Lotte Confectionery have signed the MOU or memorandum of understanding at Hyundai Oilbank’s office in Jung District in Seoul. The signing ceremony was also attended by the former’s chief executive officer, Chu Young Min and Lotte Confectiomery’s marketing and e-commerce head, Lee Jin Sung.
