RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Lotte Chilsung Beverage Co., a leading beverage producer in South Korea, revealed that it would be teaming up with startups to develop and manufacture various vegan or plant-based drinks. The company is the beverage arm of the Lotte Group, and its plan to enter the vegan business was revealed this week.
According to The Korea Economic Daily, Lotte Chilsung will collaborate with startup firms and develop vegan drinks, materials, and new technologies. Together with the local startups, the company start its vegan business. This move is just in time for the rising popularity of veganism in the country.
Based on the report, vegans in the country is equivalent to five percent of the population. This percentage is still expected to grow even more as the popularity of veganism has been increasing consistently.
It was noted that more and more people in South Korea are choosing plant-based options as they engage in the practice of abstaining from consuming any products made with animals or animal byproducts. Lotte Chilsung said on Monday, Aug. 8, that it is now in the phase of searching for startup partners for its foray into the production of its vegan drinks line.
In any case, Lotte Group’s beverage unit’s cooperation for materials and new technologies will not only be for the drinks but will also include all of the company’s beverage brands. This will be a big opportunity for startups because Lotte Chilsung is also investing in research, logistics, and marketing and not just in development and manufacturing.
Meanwhile, Lotte Chilsung is not the only Korean company that is eyeing the production of plant-based food products. Last month, Yonhap News Agency reported that CJ Cheiljedang already set up its own plant-based food business with a target of earning KRW200 billion in sales by the year 2025. CJ sees its vegan biz as its new growth engine at this time.
"As these three trends - health and wellness, sustainability and animal welfare - merge together, plant-based is becoming a global mega trend. CJ Cheiljedang’s head of plant-based food business, Jung Hyun Hak, said in a statement in July. “We project the global plant-based food market to grow up to 35 trillion won in the next 10 years."
