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| Title | Yellow Dust Can Be Business Opportunities | 2006.11.07 |
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FROM: [The Korea Times/ Nov. 7] Yellow Dust Can Be Business Opportunities By Park Hyong-ki Staff Reporter A group of Korean executives gathered at the Federation of Korean Industries (FKI) headquarters in Yoido, Seoul, Tuesday to assess yellow dust (particulate sand) risks and transform them into business opportunities, during an environment committee meeting chaired by Lee Woong-yeul of the textile and chemical conglomerate Kolon. "Industries can tap into projects to create ideal brands, like protective scarves and masks that can be fashionable, or produce well-being beverages and air filters to help counter dust storms," said an FKI spokesperson. "These related products can be mass marketed during the dusty season not only in Korea but also in other Northeast Asian markets such as China." For instance, FnC Kolon, a Korean fashion company led by CEO Jae Hwan-seok, has introduced its newly created MAFF, coined from the words "mask and muffler." The company said sales of such dust-excluding clothes have risen in Korea and China, and it is now aiming at the U.S., Japanese and European markets. Also, Daesung Group, Korea’s small-sized energy conglomerate led by CEO Kim Young-hoon, is investing in a project in Mongolia _ one of the countries where the dust originates _ to make the neighboring nation greener by utilizing solar and wind power technologies. Over 90 percent of Mongolian land is turning into desert, while about 75 percent of its botanical species are on the verge of extinction, according to the Samsung Economic Research Institute (SERI). Korea’s big business lobby group called for an active public, corporate and governmental engagement especially in a global tree-planting project in China and Mongolia to prevent higher risks of yellow dust in the future. Every spring, yellow dust from sandstorms in the Gobi Desert in northern China and southern Mongolia blanket most of the Korean peninsula, causing irritating side effects to the human body such as respiratory diseases and skin disorders. Korea suffers an annual loss of over 7 trillion won from the storms, which also raises the mortality rate in Seoul by 1.7 percent, and boosts the country’s overall dust density by 10 times, with a large amount of heavy metals filling the atmosphere. |
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