SEOUL, May 13 (Korea Bizwire) — Local beer is steadily being sidelined by imports as distributors are focusing on importing foreign brands that can potentially threaten South Korea’s production base, industry observers here said Sunday. Market insiders said that South Korean distributors are currently competing with each other to secure rights to import foreign beer [...]
SEOUL, May 10 (Korea Bizwire) — South Korea’s restaurant industry has been shrinking at a fast clip due to a rise in the number of one-person households and other unfavorable factors, government data showed Thursday. The number of restaurant owners stood at 729,724 in December last year, down 0.51 percent, or 3,718, from the previous [...]
SEOUL, May 7 (Korea Bizwire) — Mackerel imported from Norway took up 90 percent of the domestic share of mackerel imports in the first quarter, signaling the domination of Norwegian mackerel domestically. In contrast, domestic production of the popular fish fell to its lowest numbers in five years, fueling worrisome sentiment in the industry. According [...]
SEOUL, May 3 (Korea Bizwire) — As the number of single households in South Korea continues to rise, smaller portions of sliced fruit and sliced fruit cups are becoming popular with consumers. According to an announcement by Lotte Mart on Wednesday, an analysis of watermelon sales during a three-year period from 2015 to last year [...]
SEOUL, May 2 (Korea Bizwire) — The domestic market for frozen food grew from 20 billion won in 2014 to 70 billion won in 2017. CJ CheilJedang, the largest player in the frozen food industry, announced that sales of its “Bibigo” frozen food products topped 33 billion won last year, a twofold increase from 2016. [...]
SEOUL, Apr. 30 (Korea Bizwire) — With South Koreans increasingly valuing emotional satisfaction in affordable purchases, the popularity of dessert cafés is soaring, to the detriment of fast food franchises. The South Korean dessert industry in 2016 reached 9 trillion won, accounting for 10 percent of the dining industry, according to sources close to the food [...]
SEOUL, Apr. 30 (Korea Bizwire) — The McDonald’s outlet at exit No. 3 of Seoul’s Shinchon Station: for many, it was more than a run-of-the-mill burger place to grab a bite to eat. “Looking for a job after graduation, I spent many hours there for group studies and mock interviews with other applicants,” said Song [...]
SEOUL, Apr. 26 (Korea Bizwire) — Korea’s domestic processed meat market saw a decrease in the popularity of ham eaten as a side dish and a rise in the consumption of hot dog sausages. This was according to a market survey that analyzed the processed meat market over the last four years (published by CJ [...]
SEOUL, Apr. 23 (Korea Bizwire) — Starbucks Coffee Korea Co., the local unit of the U.S. coffee giant, said it began a test run of cashless stores at three of its outlets on Monday amid rising use of credit card and mobile payment systems in the country. The stores at major office districts — Gangnam [...]
SEOUL, Apr. 23 (Korea Bizwire) — Sales of ramyun instant noodles decreased for the first time in three years in 2017 with the overall market size falling after posting steady gains, market data showed Sunday. Industry sources, citing figures released by Nielsen Korea, said total sales of the country’s leading ramyun manufacturers — Nongshim Co., [...]