SEOUL, Oct. 11 (Korea Bizwire) – Data from the Korea Customs Service reveals a surge in alcohol imports, resulting in a doubled trade deficit in the sector over four years. Imported alcoholic beverages, such as beer and whiskey, reached $1.62 billion in 2022, marking a 54% increase from 2018. Notably, it highlights that exports of [...]
SEOUL, Oct. 11 (Korea Bizwire) – A South Korean politician urged the government on Tuesday to urgently devise measures to prevent Chinese companies from releasing imitated versions of K-foods, as some Chinese companies imitate not only the brand name and packaging but also use the Korean language on their products. Lee Yang-soo, a lawmaker from the [...]
SEOUL, Oct. 11 (Korea Bizwire) – The pet snack market, with a focus on nutritional supplements, is experiencing significant growth thanks to the increasing trend of pet ownership stemming from the rise in single-person households, declining birth rates, and an aging population. According to ‘Retail Talk,’ a newsletter from the Korea Chamber of Commerce and Industry [...]
SEOUL, Oct. 2 (Korea Bizwire) –South Korea’s appetite for Japanese beer has seen a remarkable resurgence this year, catapulting Japan back to the summit of beer-importing nations. This marks a significant turnaround since July 2019 when Japan imposed export restrictions on South Korea, causing Japanese beer to lose its top position in the South Korean [...]
SEOUL, Sept. 29 (Korea Bizwire) – South Korea’s imports of whiskey are anticipated to set a fresh high this year as the combined amount of inbound shipments soared 40 percent on-year through August, data showed Friday. Imports of whiskey products came to 22,799 tons over the January-August period, jumping from 16,267 tons tallied in the [...]
SEOUL, Sept. 20 (Korea Bizwire) – Ultra-affordable beer is now available for just 6,000 won for four cans, significantly cheaper than imported beers priced at 11,000 won for four cans, as well as local brands like Cass and Terra. Convenience store chain CU announced on Tuesday the launch of ‘Seomin Beer,’ a beer version of ‘Seomin [...]
SEOUL, Sept. 11 (Korea Bizwire) – The surge in whiskey’s popularity, leading to a surge in “home drinking,” is also translating into a growing trend in holiday gift sets. Whiskey sales, which constituted only half of wine gift sets just five years ago, have now escalated to a remarkable 90% this year. This whiskey [...]
SEOUL, Aug. 16 (Korea Bizwire) — As the demand for plant-based milk alternatives continues to surge within the food industry, there’s news that even the Coca Cola Beverage Co. is poised to make its entry into this market. The realm of alternative milk, crafted from plant-based ingredients such as oats, is witnessing heightened attention from [...]
SEOUL, June 28 (Korea Bizwire) — As the MZ generation’s interest in soju cocktails continues to rise, beverage companies are reaping the rewards of their sales strategies that capitalize on this trend. The prevalence of soju cocktail culture, combined with the growing trend of mixed drinking and home consumption due to the corona pandemic, has [...]
SEOUL, June 21 (Korea Bizwire) —Amid concerns over the release of contaminated water from Japan’s Fukushima nuclear power plant, there has already surfaced on a second-hand trading website in Korea a so-called “radioactive fear-mongering marketing posting,” which attempted to sell salt for an exorbitant price of over 1.5 million won per 10 kilograms. On Tuesday, [...]