S. Korea to release 80,000 tons of reserved rice in Aug. to address supply shortages

Aug 03, 2021 03:56 am UTC| Economy Business

South Korea will release 80,000 tons of rice into the market this month to deal with supply shortages and stabilize prices. The move brings the amount of reserved rice released into the market since January to 370,000...

S. Korean businesses wary of double taxation due to EU, US carbon border taxes

Aug 02, 2021 23:58 pm UTC| Economy Business

South Koreas businesses complained that the EUs carbon border tax would lead to unfair double taxation as the country has already adopted its cap-and-trade system. The Federation of Korean Industries (FKI), which...

Facebook set to release Ray-Ban smart glasses

Aug 02, 2021 10:04 am UTC| Business Economy

Facebook revealed it will be releasing its Ray-Ban smart glasses, and this is part of the tech firms preparation for the metaverse, a collective virtual shared space including the entire internet and virtual worlds that...

Pizza Hut enters the fashion business with its streetwear collection

Aug 02, 2021 09:45 am UTC| Business Economy

Pizza Hut is getting into fashion, and as a start, it already released its new streetwear collection last week. The American pizza chain is selling clothing items and merchandise under the label called the Pizza Hut...

Namyang lambaste for takeover delay; Hahn & Co. may sue the company for postponing acquisition deal

Aug 02, 2021 06:36 am UTC| Business Economy

Namyang Dairy Products is being criticized again and this time, for delaying the takeover of the company. The companys largest shareholder and owner, Hong Won Sik, and his family were slammed for suddenly attempting to...

Animal welfare law expected to cut California's pork supply, increase its bacon prices

Jul 31, 2021 23:57 pm UTC| Law Economy

Only four percent of US hog producers say they can comply with an animal welfare law to be enforced by California in 2022 that requires more space for breeding pigs, potentially cutting off the states pork supply. If...

Amazon sales growth falls short of analysts' forecast as Bezos exits as CEO

Jul 31, 2021 23:57 pm UTC| Economy Business

Amazon posted $113.1 billion in revenue during the three months ended June 30, falling short of the $115.2 billion analysts had expected. While figures for the second quarter, the final with Jeff Bezos as CEO, is a 27...