SEOUL, April 16 (Korea Bizwire) — South Korea’s top food delivery app Baemin is facing mounting criticism from small business owners after it began charging a 6.8% service fee on takeout orders this week—a move seen as a reversal of the hard-won compromise on delivery commissions reached in 2024. On April 14, the first day the [...]
SEOUL, April 14 (Korea Bizwire) — Dongwon Group, a major food company in South Korea, said Monday it will reorganize its food business affiliates to expand its overseas sales as part of its broader strategy to become a global player. At board meetings, the boards of directors approved a plan to make Dongwon F&B Co. [...]
SEOUL, April 10 (Korea Bizwire) — South Korean exporters are bracing for economic turbulence as the United States imposes sweeping reciprocal tariffs, effective April 9. The new trade measures levy a 25% tariff on South Korean exports—casting a shadow over high-performing sectors like K-food, K-beauty, and fashion that have found strong demand in the U.S. market. [...]
SEOUL, March 28 (Korea Bizwire) — Lotteria, a burger chain operated by Lotte Group’s affiliate Lotte GRS Co., will raise prices of its main products next week to pass higher costs onto customers, Lotte GRS said Friday. Lotteria will raise the prices of 65 items, including 23 burgers, beverages and desserts, by an average of [...]
SEOUL, March 27 (Korea Bizwire) — With the Earth’s average temperature now 1.5 degrees Celsius higher than pre-industrial levels, climate change is no longer a distant threat but a force reshaping daily life in South Korea and around the world. Wildfires are becoming larger, more frequent, and less predictable. According to Korea’s National Forest Service, the [...]
SEOUL, March 27 (Korea Bizwire) — When the search term “Yonsei” suddenly trended on the CU convenience store chain’s mobile app on March 18, it wasn’t customers looking for the dairy company’s milk. Instead, Doosan Bears baseball fans were hunting for a new cream-filled pastry collaboration between CU, Yonsei Dairy, and their beloved team. The [...]
SEOUL, March 24 (Korea Bizwire) — A South Korean court has ruled that the death of a delivery driver who ran a red light and was killed in a traffic accident while rushing to meet delivery deadlines qualifies as a work-related accident. The Seoul Administrative Court’s 8th Division, presided over by Judge Lee Jung-hee, sided [...]
SEOUL, March 20 (Korea Bizwire) — Ottogi Corp., a major South Korean food company, said Thursday it will raise the prices of its “ramyeon,” or instant noodle, products next month to reflect higher raw materials costs. Ottogi plans to raise the retail prices of 16 ramyeon products by an average of 7.5 percent starting April [...]
SEOUL, March 19 (Korea Bizwire) — South Korean food company Samyang Foods Inc. said Wednesday its exports surpassed the 1 trillion-won (US$688 million) mark for the first time in its history last year thanks to growing demand for its globally popular ‘Buldak’ spicy ramyeon. The company’s outbound shipments amounted to 1.34 trillion won in 2024, [...]
SEOUL, March 18 (Korea Bizwire) — Zara, the Spanish fashion giant, is set to open its first Zacaffe location in South Korea this May, launching inside the brand’s newly renovated flagship store in Myeong-dong, Seoul. The move reflects a growing trend among global fashion brands incorporating cafés into their retail spaces, offering customers a more [...]