SEJONG, May 19 (Korea Bizwire) — South Korea’s finance ministry said Tuesday it will ease regulations on alcoholic drinks, in a bid for local producers to increase their competitiveness against foreign firms. Under the deregulatory move, which is subject to approval from the National Assembly, local firms will be allowed to produce alcoholic drinks under [...]
SEOUL, May 18 (Korea Bizwire) — South Korean giant food manufacturers boasted two-digit profit growth in the first three months of this year on brisk demand for instant home meal products amid coronavirus-led social distancing, data showed Monday. In the January-March period, earnings of food conglomerate CJ Cheiljedang Corp. were 28 percent higher than brokerages’ [...]
SEOUL, March 9 (Korea Bizwire) — The United States accounted for more than half of the South Korean market for imported beef last year, data showed Monday, widening the gap with its top rival, Australia. South Korea imported 235,716 tons of U.S. beef in 2019, 53 percent of the total beef imports, according to the [...]
SEOUL, Feb. 24 (Korea Bizwire) — The South Korean market for coffee drinks expanded more than 2 percent in 2019 thanks mainly to strong sales of bottled products, a market tracker said Monday. Sales of coffee drinks came to 1.32 trillion won (US$1.1 billion) last year, up 2.2 percent from the previous year, according to [...]
SEOUL, Feb. 21 (Korea Bizwire) — Food businesses are striving to overcome the economic slump coupled with the coronavirus outbreak. Companies are trying to approach consumers by lowering prices and increasing product size, despite various factors that negatively impact pricing. Haitai Confectionery & Foods Co., a major confectionery company in South Korea, introduced a new, [...]
SEOUL, Feb. 20 (Korea Bizwire) — Hamburger chain Lotteria Co.’s new “Miracle Burger”, which as launched on Feb. 13, appears to be a success as reviews are flooding Instagram and Twitter, and the burger is gaining significant attention online. The Miracle Burger is a vegetarian burger with plant-based ingredients, including the patty. Assessments of the [...]
SEOUL, Feb. 19 (Korea Bizwire) — South Korea said Wednesday the first batch of packaged traditional chicken soup, or “samgyetang,” will be shipped to Canada in line with the country’s efforts to beef up its exports of agricultural goods and foodstuffs. South Korea said 13 tons of ready-to-eat samgyetang will be shipped to the North [...]
SEOUL, Feb. 14 (Korea Bizwire) — ‘Chapaguri,’ a signature noodle dish introduced in Oscar-winning film “Parasite,” is now on the menu at company cafeterias. CJ Freshway Corp., a food service affiliate of CJ Group, decided to celebrate the film’s achievement by introducing Chapaguri at all of the restaurants it operates for companies and affiliate institutions. [...]
SEOUL, Feb. 13 (Korea Bizwire) — Kimchi imported from China has long frequented dinner tables in South Korea. Now, Korean kimchi is expected to show up on Chinese tables more often. South Korea’s state-run Korea Agro-Fisheries & Food Trade Corp. (aT) said Chinese consumers are increasingly drawn to Korean kimchi, known to be effective against [...]
SEOUL, Feb. 13 (Korea Bizwire) — Starbucks Korea saw its net profit advance 18.5 percent in 2019 from a year earlier to a record high as the company continued to expand its number of stores here, data showed Thursday. Net profit came to 132.8 billion won (US$112.3 million), compared with 112 billion won posted a [...]