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Demand Soars for Premium Convenience Store Ice Cream

Demand Soars for Premium Convenience Store Ice Cream

SEOUL, Sept. 18 (Korea Bizwire) — The recent trend of value consumption, which stresses the importance of emotional satisfaction, is widely spreading and penetrating the convenience store ice cream market. According to convenience store chain 7-Eleven, the portion of high-end products in its overall sales of ice cream stood at 23.6 percent this year. The [...]

Anti-Japanese Sentiment Likely to Throw Cold Water on Pepero Day

Anti-Japanese Sentiment Likely to Throw Cold Water on Pepero Day

SEOUL, Sept. 13 (Korea Bizwire) – Pepero Day, one of South Korea’s biggest marketing events – similar to Valentine’s Day that falls on November 11, is expected to be less successful this year as convenience stores are reluctant to order chocolate sticks from Japan. Pepero Day, the same day celebrated in China as Singles Day, [...]

Demand for Home Meal Replacement Leads to Dwindling Sales of Ingredients

Demand for Home Meal Replacement Leads to Dwindling Sales of Ingredients

SEOUL, Sept. 9 (Korea Bizwire) — A recent study has shown that purchases of ingredients needed for cooking are dropping as more people are buying home meal replacement (HMR) products. In addition, fewer South Korean households are making their own kimchi, which explains the increasing consumption of packed kimchi and dwindling sales of pepper paste [...]

S. Korean Food Companies Aim for U.S. Market

S. Korean Food Companies Aim for U.S. Market

SEOUL, Sept. 5 (Korea Bizwire) — South Korean food companies struggling with tepid domestic demand are turning their eyes to the U.S. for a breakthrough. As more Americans are taking an interest in Korean food, an increasing number of South Korean companies are beginning to see potential in the American market, many of which have [...]

Convenience Store Products a ‘Big Hit’ Only if Popular with Women in Their 20s

Convenience Store Products a ‘Big Hit’ Only if Popular with Women in Their 20s

SEOUL, Aug. 29 (Korea Bizwire) — What would be the best-selling instant noodles at convenience store chain GS25? It is easy to think of Shin Ramyun, or Jin Ramyun, both popular options. But the answer is Hot Chicken Flavor Ramen, Samyang Foods Co.’s top-selling noodle product among 107 instant noodle offerings. There is one thing [...]

National Tax Service Bans Rebates but Allows Freedom of Pricing

National Tax Service Bans Rebates but Allows Freedom of Pricing

SEOUL, Aug. 29 (Korea Bizwire) — The National Tax Service has decided to rescind a controversial policy requiring suppliers to unify the price of liquor regardless of the amount of liquor they are supplying to various vendors, taking a step back from its original stance. The tax agency announced on Wednesday that it will implement [...]