SEOUL, March 22 (Korea Bizwire) — Despite a 24.3 percent jump in sales of livestock products last year, big five convenience store chain CU is not resting on its laurels, and has decided to try selling fresh meat through a vending machine. CU announced on March 22 that it will place an “IoT Smart Vending [...]
SEOUL, Mar. 22 (Korea Bizwire) — Starbucks Coffee Korea Co., the local unit of the U.S. coffee giant, said Thursday it will begin a test run of cashless stores at three outlets next month amid rising use of credit card and mobile payment systems. The stores at the country’s major office districts — Gangnam and [...]
SEOUL, March 21 (Korea Bizwire) — Hite Jinro Co., a major South Korean liquor maker, said Wednesday outbound shipments of its products nearly tripled over the past 20 years, as it moves to expand its presence in the global market. Exports of the company’s alcoholic beverages came to 94 billion won (US$87.8 million) last year, [...]
SEOUL, March 20 (Korea Bizwire) — South Korea’s egg prices fell sharply in recent weeks compared to last year, despite the massive culling of chickens, due to outbreaks of avian influenza, data by a local trade cooperation showed Tuesday. The average price of a carton containing 30 eggs dropped to 4,718 won (US$4.40) as of [...]
SEOUL, Mar. 19 (Korea Bizwire) — South Korea’s retail industry is introducing quick delivery of fresh and frozen foods through phone orders, targeting single and double-income households, industry sources said Monday. Homeplus said more than 70 outlets across the country have adopted the service in which clients can buy fresh and frozen foods using their [...]
SEOUL, March 16 (Korea Bizwire) — South Korean exports ranging from entertainment and sports to alcohol are finding success in Vietnam. Recent media reports stated that “Go Go Sisters”, a Vietnamese adaptation of the 2011 South Korean coming-of-age blockbuster “Sunny”, took pole position at Vietnam’s box office in the first weekend after its release. In [...]
DAEJEON/SEOUL, March 16 (Korea Bizwire) – The current chief of KT&G Corp. was reappointed to head the South Korean tobacco maker for another three years, the company said Friday. Baek Bok-in’s reappointment was approved by a regular meeting of shareholders in Daejeon, central South Korea, earlier in the day, it said. The company is South Korea’s largest tobacco and ginseng product manufacturer, [...]
BUSAN, March 16 (Korea Bizwire) – Busan Port, South Korea’s maritime gateway, will modernize its network infrastructure to efficiently handle cargo traffic and improve safety, the oceans ministry said Friday. The Ministry of Oceans and Fisheries said it will use the Internet of Things (IoT) technology to upgrade the southeastern port’s cargo management system in [...]
SEOUL, Mar. 15 (Korea Bizwire) — Starbucks Coffee Korea posted a record operating profit last year amid growing popularity of the U.S. coffeehouse chain here, industry sources said Thursday. The 50-50 joint venture between retail conglomerate Shinsegae and the U.S. coffee giant posted 114.4 billion won (US$107 million) in operating profit on 1.2 trillion won [...]
SEOUL, Mar. 15 (Korea Bizwire) — South Korea’s convenience store (CVS) chains are increasing the number of outlets selling instant brewed coffee amid growing popularity of the cheap beverage, industry sources said Thursday. South Korea’s largest convenience store chain, CU, said it will raise the number to more than 12,000, from the current 8,000, by [...]