SEOUL, Jan. 6 (Korea Bizwire) – South Korea’s food imports have been rising sharply in recent years mainly due to increased consumer demand for more diverse products, data showed Wednesday. Asia’s fourth-largest economy posted 554,177 import reports of processed food and agrofisheries products in 2014, up 25.5 percent from 441,530 shipments tallied for the whole [...]
SEOUL/SEJONG, Jan. 4 (Korea Bizwire) – South Korean processed food companies and farmers are ramping up efforts to tap into the rapidly growing global halal market as they face tougher competition from cheaper rivals and unfavorable foreign exchange rates, industry watchers said Monday. Halal food refers to food products that are prepared in a specific [...]
SEOUL, Dec.31 (Korea Bizwire) –The year of 2015 saw the most changes in food policies among key global food companies, according to NPR, the public broadcasting station in American media. First of all, fast food chains have switched their menu items to use organic ingredients. McDonalds announced that they will gradually eliminate the use of [...]
SEJONG, Dec.28 (Korea Bizwire) – As people start to avoid heavy drinking and turn their preference towards softer alcoholic beverages, the consumption of beer in Korea has increased while the consumption of soju has gone downhill. According to an investigation conducted by the Ministry of Agriculture, Food and Rural Affairs and Korea Agro-Fisheries & Food [...]
SEOUL, Dec. 18 (Korea Bizwire) – Famous Korean snacks have captivated the taste buds of Asian consumers, making overseas sales more important for local confectionery companies grappling with slower growth on home turf, data showed Friday. Major Korean confectionery companies are increasingly setting their sights on a wider market after seeing robust growth in China [...]
GOSEONG, Dec.17 (Korea Bizwire) – Salmon, which was recently farmed for the first time in Korea, is gaining popularity in the market. According to Donghae STF, a fish farming company, farmed salmon distributed once or twice a week since November 9 has been met with positive reactions from consumers. The salmon distributed by Donghae STF [...]
SEOUL, Dec.14 (Korea Bizwire) – Samyang Foods has announced that its exports of instant ramen noodles reached 27 billion won from January to November this year, which was a 35 percent increase compared to the same period last year. Of note, the growth of exports to countries where stir-fried noodles are popular such as Singapore, [...]
SEOUL, Dec.11 (Korea Bizwire) – Products from Orion, the Korean confectionary company, will be sold on trains and at train stations in China. For the next three years, Orion will exclusively sell Market O Real Brownies, Real Cheese Chips, Real Cracker Chocolate, Dr. You Energy bars and Kids Cookies in compartments and train stations run [...]
SEJONG, Dec. 8 (Korea Bizwire) – South Korea’s instant coffee market has been on a steady decline despite increasing coffee consumption, as more people drink at coffee shops or buy other types of coffee drinks, industry data showed Tuesday. The instant coffee retail market was valued at 1.05 trillion won (US$895.6 million) last year, falling [...]
SEOUL, Dec. 7 (Korea Bizwire) – South Korea’s milk industry has been mired in a quandary over increasing milk inventories over the past years due to an oversupply and sluggish consumption amid falling birthrates and a prolonged economic slump. In a desperate bid to tide over the difficulty, the industry has been trying to cut [...]