SEOUL, Mar. 4 (Korea Bizwire) – The South Korean apple industry faces significant challenges, with a 30% reduction in last year’s apple production causing prices to skyrocket. Further compounding the issue, a report released on March 2 by the Korea Rural Economic Institute predicts a 8.6% decrease in apple cultivation areas over the next decade. According [...]
SEOUL, Feb. 21 (Korea Bizwire) — South Korea’s producer prices rose for the second consecutive month in January, driven in part by soaring prices in agricultural goods and service fees, central bank data showed Wednesday. The producer price index, a major barometer of consumer inflation, increased 0.5 percent in January from a month earlier, following [...]
SEOUL, Jan. 19 (Korea Bizwire) — The Ministry of Oceans and Fisheries (MOF) in South Korea has announced plans to invest 2.4 billion won, an increase of 1 billion won from last year, into its Overseas Fisheries Resource Survey project for 2023. This initiative aims to pioneer new fishing grounds, particularly focusing on East Africa, including the [...]
GWANGJU, Jan. 2 (Korea Bizwire) – Recently, a surge of “local food direct sales stores” has emerged in South Jeolla Province, eliciting positive responses from consumers and invigorating the local economy. Local food pertains to products sourced and consumed within a close geographic proximity, typically within a 50-kilometer radius. Traditionally, challenges like elevated prices and diminished [...]
TOKYO, Dec. 26 (Korea Bizwire) – On December 25, it was reported that the Japanese government is actively working to broaden its exports of scallops, redirecting its focus to South Korea. This move comes in response to China’s comprehensive ban on Japanese seafood imports, triggered by the release of contaminated water (referred to as “treated water” [...]
SEOUL, Dec. 22 (Korea Bizwire) – A minuscule amount of cesium, a radioactive substance, was identified in a Japanese flavoring product utilized for certain flavor profiles. Consequently, the importer opted to voluntarily retract the importation of the product. As reported by the Ministry of Food and Drug Safety (MFDS) on December 22, a radioactivity examination [...]
SEOUL, Dec. 22 (Korea Bizwire) – The National Federation of Fisheries Cooperatives in South Korea has urged the government to address the rampant overdevelopment of offshore wind farms. In a joint meeting held by the National Federation of Fisheries Cooperatives and the Ministry of Oceans and Fisheries on December 21, the fisheries industry raised concerns about [...]
SEOUL, Dec. 20 (Korea Bizwire) — South Korea was granted additional catch quota for tuna in the Pacific Ocean in 2024 under a regional fisheries body agreement, the oceans ministry said Wednesday. The Western and Central Pacific Fisheries Commission (WCPFC) granted South Korea a quota of 883 tons of bluefin tuna in the region for [...]
SEOUL, Dec. 10 (Korea Bizwire) – South Korea’s exports of dried seaweed hit a new record on the back of growing awareness of healthy food around the globe, data showed Sunday. Outbound shipments of dried seaweed, called “gim” in Korean, reached US$670 million over the January-October period, up 20.4 percent from a year earlier, according [...]
HAMYANG, Dec. 9 (Korea Bizwire) – Hamyang dried persimmons, known as “gotgam” or dried peeled persimmons, once praised by King Gojong as a delicacy, have made their inaugural appearance at an auction. Renowned for their exquisite taste and historical significance as offerings to various kings during the Joseon Dynasty, they were affectionately dubbed “Gojongshi,” signifying [...]