SEOUL, Nov. 1 (Korea Bizwire) – South Korea will hold a series of events on its traditional food in two major Japanese cities, Osaka and Tokyo, later this week in a bid to revitalize food product exports to the neighboring country, a government ministry said Tuesday. The 2016 K-Food Festa will start on Wednesday for [...]
SEOUL, Nov. 1 (Korea Bizwire) – Kooksoondang Brewery Co. said Tuesday it has struck a deal to export Korean traditional liquors to the United Arab Emirates (UAE), tapping into the Middle Eastern market for the first time. The Korean brewer signed a deal with Spinneys Abu Dhabi LLC to export five kinds of liquors, including [...]
SEOUL, Nov. 1 (Korea Bizwire) – Vietnam has become the largest importer of Korean ginseng in Southeast Asia, a market that China is aggressively chasing to erode Korea’s lead, a trade group said Tuesday. According to the Ho Chi Minh office of the Korea Trade-Investment Promotion Agency (KOTRA), South Korea exported 1,362 tons of ginseng [...]
SEOUL, Oct. 28 (Korea Bizwire) – U.S. fast food giant McDonald’s is having difficulties finding a buyer of its Korean unit as Maeil Dairies Industry Co., the last remaining bidder, has dropped its bid, according to industry officials Friday. McDonald’s, which directly manages about 400 stores in South Korea, has been looking for local partners [...]
SEOUL, Oct. 24 (Korea Bizwire) – The market for frozen dumplings, which struggled after the ‘Garbage Dumpling’ scandal in 2004, is once again prospering, driven by recently launched products emphasizing ‘premium’ quality. According to market research firm LinkAztec, the frozen dumpling market saw year-on-year growth of 9.8 percent in 2015 to 366.9 billion won, and [...]
SEOUL, Oct. 21 (Korea Bizwire) – China is experiencing another baby boom generation after repealing its infamous one-child policy, and the change is proving to be a boon for Korean firms hoping to make inroads in the Chinese market for baby food products. The Korea Agro-Fisheries & Food Trade Corporation (aT) recently launched an online [...]
SEOUL, Oct. 21 (Korea Bizwire) – A traditional Korean food festival kicked off on Friday to introduce the representative seasonal dishes which are essential to the Korean mind, body and soul. The “2016 K-Food Festival” organized by the state-run Korea Tourism Organization (KTO) will continue through Saturday at the eastern square of COEX in southern [...]
SEOUL, Oct. 20 (Korea Bizwire) – As consumers went crazy over their products, the companies simply built more plants to meet the soaring demand. Then the craze disappeared all of sudden, leaving them with idle capacity and huge losses. Industry gurus call it the “curse of capacity expansion.” Small instant noodle maker Paldo suffered such [...]
SEOUL, Oct. 20 (Korea Bizwire) – South Korea’s market for packaged kimchi has been growing sharply in recent months as more consumers resort to them due to sky-high prices of napa cabbage, the pickled side dish’s key ingredient, a market tracker said Thursday. The market for packaged kimchi rose 13.5 percent in July from a [...]
SEOUL, Oct. 19 (Korea Bizwire) – Major South Korean food and beverage companies are diversifying their business portfolios as they are reeling from a drawn-out slump, industry officials said Wednesday. The country’s biggest confectionery Orion Corp. said it has joined with the National Agricultural Cooperative Federation (Nonghyup) to venture into the food market. Under the [...]