SEOUL, Sept. 2 (Korea Bizwire) — Orion’s flagship K-snack, Turtle Chips, has secured shelf space in all 1,200 Carrefour stores across France, marking the first time a single Korean snack brand has been simultaneously stocked in every outlet of the French retail giant. The breakthrough comes after Carrefour’s buyers gave the four-layered snack high marks for [...]
SEOUL, Aug. 27 (Korea Bizwire) — South Korea will establish a public-private task force this week to help commercialize Atlantic bluefin tuna, whose catch levels off the country’s east coast have soared in recent years due to warming seas, the Ministry of Oceans and Fisheries said on Tuesday. The council, set to launch Tuesday in [...]
SEOUL, Aug. 22 (Korea Bizwire) — Starbucks Korea said Friday its total number of outlets is “on track” to top 2,100 by year-end, underscoring the U.S. coffee chain’s continued growth in Asia’s fourth-largest economy. The Seattle-based coffee giant opened its first store near Ewha Womans University in Seoul in 1999 through a partnership with local [...]
SEOUL, Aug. 20 (Korea Bizwire) — Nongshim, South Korea’s leading instant noodle maker, is teaming up with one of Netflix’s latest global sensations to give its iconic snacks a new look. The company announced Wednesday that its flagship Shin Ramyun and Shrimp Crackers will debut in limited-edition packaging later this month featuring characters from KPop [...]
SEOUL, Aug. 13 (Korea Bizwire) — Financially troubled discount store chain Homeplus Co. said Wednesday it will close 15 outlets as part of emergency management measures amid a worsening business environment. Homeplus has been under a court-led rehabilitation program since March, when two local credit rating agencies downgraded its corporate bonds from A3 to A3-, [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korea’s antitrust regulator has fined the operator of Burger King Korea 300 million won ($217,000) for forcing franchisees to buy tomatoes and cleaning products from designated suppliers without proper disclosure — even imposing penalties up to store closure for noncompliance. The Fair Trade Commission (FTC) said on Wednesday it [...]
JEONJU, Aug. 8 (Korea Bizwire) — Goat meat is emerging as a popular summer health food in South Korea, with demand surging during the traditional “boknal” season—hot summer days when Koreans consume energy-boosting dishes to combat fatigue, the Rural Development Administration (RDA) said Thursday. According to statistics from the Animal and Plant Quarantine Agency, approximately [...]
SEOUL, Aug. 6 (Korea Bizwire) — The antitrust regulator said Wednesday it has decided to refer the chairman of leading South Korean food company Nongshim Co. to the prosecution for allegedly omitting key affiliate companies from required disclosures to avoid designation as a large business group and to benefit from incentives for small businesses. Nongshim [...]
SEOUL, Aug. 6 (Korea Bizwire) — Lotteria, the burger chain operated by Lotte Group affiliate Lotte GRS Co., will open its first outlet in Malaysia later this year as part of its overseas expansion strategy, the company said Wednesday. Lotte GRS has signed a master franchise agreement with local retailer Serai Group to launch the [...]
SEOUL, Aug. 4 (Korea Bizwire) – Lotte Chilsung Beverage Co. said Monday its second-quarter net profit rose nearly 32 percent from a year earlier, driven by improved exports of key products. Net profit came to 27.7 billion won (US$20 million) for the April-June period, up 31.6 percent from a year earlier, the company said in [...]