Latest news with #Korean-made
Korea Herald
3 days ago
- Business
- Korea Herald
Officals warn of rise in fake 'Made in Korea' labels
A record wave of low-cost clothing from China is pouring into South Korea, and much of it is being illegally disguised as Korean-made. Last year, South Korea imported more Chinese apparel than ever before. According to the Korea Customs Service, the country brought in $4.83 billion worth of clothing from China, up 50 percent from 2020. With the rise in volume, the authorities are seeing a surge in a deceptive practice known in Korea as "label switching." Imported garments arrive with tags that say "Made in China," but these are often swapped out before reaching the customer. Korean sellers repackage the items to appear as if they were produced in South Korea. In some cases, they even change the shipping invoices and boxes. Korean customs officials report that in the first half of 2025, they seized 3.1 million illegally distributed goods. More than half (1.7 million) were flagged for missing or false country-of-origin labels. Most of these were Chinese clothes disguised as Korean products. Korean sellers often buy these clothes for under $2 on platforms like Temu or AliExpress, then resell them on other e-commerce platforms or social media at 10 times the price. Many are advertised with vague claims like "luxury local fabric." This comes as Chinese fast-fashion giant Shein sees a sharp rise in sales here. According to Mobile Index, a data service operated by South Korea-based IGAWorks, Shein's monthly active users in the country hit 1.75 million in June. This is almost four times higher than in January. It now ranks sixth among fashion shopping apps in Korea, up from 11th last year. Another analytics firm, WiseApp Retail, reports that Shein passed 2.2 million Korean users for the first time, the highest ever recorded.
Korea Herald
17-07-2025
- Automotive
- Korea Herald
SK On signs lithium deal with EcoPro to boost IRA compliance
SK On signed a lithium hydroxide supply agreement with EcoPro Innovation on Wednesday, ramping up efforts to strengthen its domestic EV battery supply chain in line with the US Inflation Reduction Act requirements. Under the deal, SK On will receive up to 6,000 metric tons of domestically produced lithium hydroxide by the end of this year, enough to power approximately 100,000 electric vehicles. The lithium will be processed through domestic cathode plants before being shipped to SK On's US battery facilities. Lithium hydroxide, a critical ingredient in nickel-cobalt-manganese cathodes, has traditionally been sourced from overseas, mostly from China. By securing domestic materials, SK On aims to enhance price competitiveness and reduce geopolitical risk. Notably, Korean-made lithium hydroxide qualifies under the IRA's Advanced Manufacturing Production Credit, helping SK On secure tax credits and improve cost efficiency in the US market. EcoPro Innovation CEO Kim Yoon-tae said the deal marks their first lithium hydroxide supply to a global battery maker and will help expand their presence in North America and Europe. 'We're building a stable supply chain amid shifting global policies,' said Park Jong-jin, head of strategic purchasing at SK On. 'Securing competitive materials and diversifying partners will boost our North American capabilities.'
Eater
15-07-2025
- Business
- Eater
LA Favorite Smash Burger Specialist Softies Opens at USC Village
Softies, one of Southern California's most popular smash burger pop-ups and a former Smorgasburg vendor, opened its first-ever restaurant in USC Village just north of the main University of Southern California campus on Sunday, July 6. With a grand opening scheduled for mid-August, Softies will eventually expand its hours with breakfast service to coincide with the start of the fall semester. Founded by Josh Kim and Sam Hong in 2022, the pop-up started out as a total experiment after Kim and Hong grew bored by their corporate jobs. Kim was previously in client relations at OpenTable, and Hong worked at a tech company after leaving a management position at Copa Vida Coffee; they worked briefly together at Cafe Dulce in Little Tokyo but otherwise had never cooked professionally. With about $5,000 in cooking equipment, the two decided to cook burgers because it was easier to do than tacos (plus, Roy Choi had cornered the market on Korean-made tacos more than a decade prior). They set up at Thank You Coffee in Anaheim, preparing to cook a few dozen burgers, but ended up selling over 300 on the first day. Every three to four weeks, the duo announced a new pop-up, and hundreds of hungry smash burger fans showed up for Softies' griddled burgers topped with blackened onions, white American cheese, and pickles between Martin's plush potato buns. They resemble the highly seasoned Oklahoma-style burgers found at the likes of Goldburger and Alvin Cailan's Local Kitchens in Los Angeles. 'We're softies and mama's boys, but we work damn hard.' — Josh Kim, co-owner, softies Kim and Hong popped up to huge success at Smorgasburg, selling over 450 burgers in 2023, and they joined the Arts District Sunday food festival shortly after as a regular vendor; they operated there until late 2024. Kim and Hong's eventual partner, James Choi (who owns Dulce inside USC Village), walked by the vacant former Wahlburgers and Stout Burgers space, inquiring on behalf of Softies. USC Village reps surreptitiously visited Softies at Smorgasburg, trying the food and realizing it would be a hit for the student population and South LA locals. In early 2025, Kim and Hong broke ground to convert the space into a kind of minimalist diner, with counter seating, booths, and two patio areas. They shared the entire process, along with questions about funding, profitability, and their vision, as part of a 12-part video series on Instagram produced by Kim's roommate and videographer David Rho. 'We made the videos mainly for our nostalgia later on, but they resonated with our followers, so we kept going,' says Kim about documenting the preopening process. Though the brand started from the success of its smash burgers, it's already begun offering more in the way of fried chicken sandwiches, fried fish sandwiches, Korean pork rib sandwiches inspired by the McRib, Korean barbecue samgyupssal (pork belly) sandwiches, and more. Its opening menu at USC Village includes the Aji, slathered in Peruvian aji verde (cilantro aioli) with pickled jalapeños and crispy cheese, while the crispy mushroom burger comes with a tangled crown of fried enoki mushrooms. Along with French fries, a New York City bodega-style chopped cheese sandwich, and a Caesar salad with optional fried chicken cutlet were menu add-ons for the soft opening phase. A lime pie is the sole dessert offering but hinted at other sweets like a banoffee pie. Eventually, in the mornings, Softies will serve breakfast burritos, breakfast sandwiches, and drip coffee. Josh Kim (left) and Sam Hong (right) posting in front of Smorgasburg posters. Softies 'Burgers are ubiquitous, everyone knows them and has a reference, so they became a cool canvas. We don't want to be thought of as tacky or fusion, so we think the end product should always feel pretty similar to any other burger,' says Kim, whose favorite burgers growing up in Southern California were In-N-Out Burger and the Habit, which he enjoyed as a college student in Santa Barbara. 'Every single menu item needs to be able to tie back to a story for us, otherwise it's weird for us to make. We're very big on a story-based menu and approachable food.' Regarding the name, Kim and Hong find comfort in the dissonance of the term, acknowledging that they didn't have any professional cooking experience prior to Softies. 'We're softies and mama's boys, but we work damn hard. We don't care to be perfect, but we care a lot about being really good,' says Kim. 'It's also an exploration of our cultural confusion. Are we Korean? American? Korean American? It's all of that constant tension that gets spit out into a dish.' While this might be their first restaurant, Kim doesn't see the brand growing to In-N-Out levels of expansion. 'We advertise heavily that we're not chefs. If we have three restaurants and they're really good and have a good culture, I would rather have that than try to make an extra buck,' says Kim. 'To us, we want community, a home for people to hang out. We want to serve people and make it feel like an extension of dinner parties we would do at home,' says Kim. Softies is open daily from 11 a.m. to 8 p.m. and is located at 835 W. Jefferson Boulevard, Unit 1710, Los Angeles, CA, 90089. Come mid-August, hours will expand to 9 a.m. to 9 p.m. daily. The front of Softies. Wonho Frank Lee Softies' dining area. Wonho Frank Lee A double smash burger with cheese and pickles from Softies. Wonho Frank Lee Crispy mushroom burger from Softies. Wonho Frank Lee Softies' chopped cheese sandwich. Wonho Frank Lee Aji burger from Softies. Wonho Frank Lee Smashing the patties. The counter at Softies. Sam Hong (left), a cook, and Josh Kim in the kitchen at Softies. The counter of Softies with the letter menu. Chicken Caesar salad. Fries with a number of sauces. Diners at softies with memorabilia on the walls. Softies logo with hours. Wonho Frank Lee
Nikkei Asia
03-07-2025
- Automotive
- Nikkei Asia
South Korea's Hyundai Rotem to sign K2 tank order worth $6.5bn with Poland
Polish soldiers ride the South Korean-made K2 Black Panther tank during training in Poland on June 24. © Reuters SEOUL (Reuters) -- Poland has completed negotiations with South Korea's Hyundai Rotem to receive a second batch of K2 tanks and plans to sign a contract, South Korea's defense procurement agency said on Wednesday. The specific size of the contract will be disclosed later, South Korea's Defense Acquisition Program Administration said in a statement. On Thursday, Hyundai Rotem said in a regulatory filing the Polish arms procurement agency has confirmed the contract was worth $6.5 billion. It said further details of the deal would be announced in a later filing. The Yonhap News Agency has said the deal was to supply 180 tanks. In 2022, Poland and Hyundai Rotem agreed a supply deal for the first batch, or 180 K2 tanks. While the first contract focused on Korean-made vehicles that could be quickly supplied as Poland moved swiftly to boost its military amid Russia's war in neighboring Ukraine, the second batch is expected to grant the South Korean arms maker a more permanent foothold in Europe. DAPA said a production facility in Poland would be established, with a large number of K2 tanks to be assembled locally through cooperation between Hyundai Rotem and Polish defense companies.
United News of India
30-06-2025
- Business
- United News of India
S Korean industrial output sees significant amid weak global demand and US tariffs
Seoul, June 30 (UNI) South Korea's industrial output declined for a second consecutive month in May, as weakening global demand and the impact of US trade restrictions continued to weigh on key sectors of the economy, hampering Seoul's economic growth significantly. According to data released by Statistics Korea on Monday, the seasonally adjusted industrial production index — excluding agriculture, livestock, and fisheries — fell by 1.1% in May from the previous month, following a 0.8% drop in April. Manufacturing, a core component of the economy, contracted sharply by 3% in May, compared to a 0.6% decline the month before. Officials linked the downturn to a fall in overseas demand for Korean-made goods, partly due to protectionist policies and tariffs imposed by the United States. The average manufacturing capacity utilisation rate also fell to 71.7%, down 2.1 percentage points from April. The construction sector also showed weakness, with output dropping 3.9% in May after a 1.4% slide in April. The service industry, which had remained relatively stable, slipped by 0.1%. In contrast, public administration output rose by 0.8%, driven by increased government activity. Consumer spending remained stagnant. The retail sales index, a key indicator of private consumption, was unchanged in May, following a 0.9% decline in April. Meanwhile, facility investment — which reflects business spending on equipment — dropped 4.7%, extending its downward trend for the third straight month. Leading indicators, used to gauge future economic momentum, edged down 0.1 points to 100.9 in May, while the index of coincident indicators, which reflects current economic conditions, decreased by 0.4 points to 98.5. The sustained downturn in industrial activity highlights the strong challenges faced by South Korea, whose economy is heavily export-dependent. With a slowing global economy, tighter trade conditions, and cautious consumer spending at home, South Korea's growth outlook remains under significant pressure. As of late June, the Korean won traded around 1,390 to the US dollar, increasing import costs and adding to inflation concerns. UNI ANV AAB
