SEOUL, Aug. 13 (Korea Bizwire) – In a strategic shift to combat the migration of shoppers to online platforms, South Korean department stores are engaged in a fierce competition to introduce exclusive international cafes and dessert shops to the local market. Social media platforms are abuzz with posts from eager patrons flocking to newly opened establishments [...]
SEOUL, Aug. 12 (Korea Bizwire) — CJ Foodville, the restaurant arm of food and entertainment conglomerate CJ Group, said Monday its bakery franchise Tous les Jours will open its first outlet in Singapore within this year. CJ Foodville has signed a master franchise contract with Royal T Group, the parent firm of a variety of [...]
SEOUL, Aug. 12 (Korea Bizwire) – As the summer heat intensifies in South Korea, cafe owners are feeling a different kind of burn: skyrocketing electricity bills and diminishing profits due to lingering customers. Yeo, the 30-year-old owner of a small cafe in Seoul’s Dongjak district, was taken aback after receiving the shop’s latest electricity bill. The [...]
SEOUL, Aug. 7 (Korea Bizwire) – A wave of restaurant closures is sweeping across South Korea as small business owners grapple with rising inflation and escalating delivery fees. Despite government pressure to reduce commissions, the country’s leading delivery app, Baemin, announced an increase in its brokerage fees starting August 9, pushing many struggling entrepreneurs to the [...]
SEOUL, Aug. 7 (Korea Bizwire) – In a move to strike a balance between corporate expansion and small business protection, South Korea has announced changes to regulations governing bakery chains. The new rules, set to take effect this month, will allow major bakery companies to open more stores while slightly relaxing distance restrictions from smaller, independent [...]
SEOUL, Aug. 4 (Korea Bizwire) – South Korea’s exports of kimchi hit a fresh record high in the first half of this year, driven by the growing global popularity of Korean cuisine, particularly in North America and Europe, data showed Sunday. Outbound shipments of kimchi, a traditional Korean side dish typically made from fermented cabbage, [...]
SEOUL, Aug. 2 (Korea Bizwire) – The opening of a premium coffee shop in Seoul’s upscale Cheongdam-dong district has ignited controversy over luxury pricing in a time of high inflation, highlighting the growing economic disparities in South Korean society. Lotte Department Store introduced Bacha Coffee, a Moroccan luxury coffee brand, to South Korea on August 1. The [...]
SEOUL, Aug. 1 (Korea Bizwire) – A recent study has revealed that the introduction of digital ordering systems in South Korean restaurants has led to a significant reduction in serving staff, highlighting the growing impact of technology on the service industry. On July 31, the Korea Employment Information Service released a report titled “Analysis of Job [...]
SEOUL, Aug. 1 (Korea Bizwire) – South Korean food company Ottogi has launched a new instant noodle product that pushes the boundaries of spiciness in the competitive Korean instant noodle market. The new product, named ‘Yeolgwang Rabokki’, boasts a Scoville Heat Unit (SHU) rating of 5,856, matching the company’s notoriously spicy ‘Yeol Ramen’ and surpassing the [...]
SEOUL, Jul. 31 (Korea Bizwire) – Starbucks Korea said Wednesday it will adjust most of its beverage prices to reflect surging costs of coffee beans. Starting Friday, the prices of grande-size (473 milliliters) and venti-size (591 ml) beverages will be raised by 300 won (US$0.22) and 600 won, respectively, while the price of all tall-size beverages [...]