SEJONG, Feb. 2 (Korea Bizwire) - South Korea’s consumer prices grew less than 1 percent for the first time in three months, a government report showed Tuesday, rekindling concerns about deflation. The country’s consumer price index rose 0.8 percent last month from a year earlier, a 0.5 percentage point fall from December’s 1.3 percent gain, according [...]
SEJONG, Jan. 28 (Korea Bizwire) -A sea shrimp farm has been dedicated in the middle of the Sahara Desert in northern Algeria with South Korean technology and capital, the Ministry of Oceans and Fisheries said Thursday. The Shrimp Cultivation Research Center has indoor and outdoor shrimp farms and several research and office buildings on a [...]
YEONGDONG, Jan.26 (Korea Bizwire) – A ‘Wine Café’ will open at the traditional market in Yeongdong, Chungbuk Province, which has been designated as a special industrial zone for the production of grapes and wine. The local government plans to invest 200 million won to open a wine café next to the parking lot of the [...]
SEOUL, Jan.25 (Korea Bizwire) – Chef Roy Choi (46), well-known in the U.S. as a food truck legend, has set foot on a meaningful journey to provide healthier fast food. The LA Times reported on Choi’s new fast food joint called ‘Locol’ in Watts, South Los Angeles. Roy Choi, who was born in Seoul, Korea, [...]
SEOUL, Jan.21 (Korea Bizwire) – A recent report from a Korean consumer protection agency reveals that the prices of imported fruit, wine, beer and Starbucks coffee in Korea are much more expensive than in other countries. According to Consumers Korea, the domestic prices of imported grapes, wine, and domestic pork belly were among the highest [...]
SEOUL, Jan. 20 (Korea Bizwire) - Haitai Confectionery & Foods Co., South Korea’s second-biggest confectionery, said Wednesday it is preparing for an initial public offering this year, taking advantage of the huge success of its honey-flavored potato chips. Haitai said it has made deals with two local brokerage houses to list its shares on the Seoul [...]
SEOUL, Jan. 20 (Korea Bizwire) – What’s your favorite way to eat dried seaweed? If you are a Korean, you may want to have a bowl of rice with dried seaweed, roasted with sesame oil and fine salt, and kimchi. Dried seaweed pressed into a dark green sheet is called “kim,” a homonym for the [...]
SEJONG, Jan. 12 (Korea Bizwire) – Lotte Mart, South Korea’s No. 2 discount chain, is under investigation for allegations of unfairly pressuring a supplier into selling pork bellies below production cost, the antitrust watchdog said Tuesday. A source at the Fair Trade Commission (FTC) said investigators have been checking the retailer since December after a [...]
SEOUL, Jan. 11 (Korea Bizwire) – Lee Seo-yeon buys freshly brewed coffee at GS 25, a convenience store chain, twice a day — on her way to work and during lunch time. There’s neither a barista nor ice caramel macchiatos. The part-time cashier at a department store in downtown Seoul gets Americanos at 1,000 won [...]
SEOUL, Jan.7 (Korea Bizwire) – Although the number of foreigners visiting Korea every year is reaching 20 million, five star hotels in Korea seem to be neglecting hansik, traditional Korean cuisine. According to industry analysts, among the 20 five star hotels located in Seoul, only three hotels had Korean restaurants – the Sheraton Grand Walkerhill, [...]