JEJU, Jan. 13 (Korea Bizwire) — Competition to preempt natural water sources on Jeju Island in the domestic mineral water and beverage market is intensifying. Jeju’s clean groundwater has an unrivaled presence in the South Korean market. Samdasoo, volcanic bedrock water produced and bottled by the Jeju Province Development Corp. (JPDC), has maintained the top [...]
SEOUL, Jan. 10 (Korea Bizwire) — The state-run Korea Trade-Investment Promotion Agency (KOTRA) reported on Thursday that K-food is gaining a reputation in Indonesia’s local food franchise and processed food markets. An increasing number of local food producers are introducing new products that resemble K-food. The agency reported that Korean snacks, bread, topokki (spicy rice [...]
SEOUL, Jan. 9 (Korea Bizwire) — South Korean beer producers are scrambling to fill the vacuum created in the local beer market after Japanese beer suffered a massive loss in market share due to a recent boycott movement against all things Japanese. CU, a major South Korean convenience store chain, announced on Wednesday that sales [...]
SEOUL, Jan. 6 (Korea Bizwire) — Starting in the new year, the standard for levying liquor taxes on beer and raw rice wine has changed from a price-based “ad valorem” duty to forwarding volume-based “specific commercial duty” for the first time in 52 years. In a related move, the National Tax Service (NTS) said Sunday [...]
SEOUL, Jan. 5 (Korea Bizwire) — South Korean snacks are increasingly gaining huge popularity in the global market as more consumers are addicted to new flavors and opted to pick up more Korean products in line with the Korean Wave, industry officials said Sunday. Exports of local snack products were tallied at US$43.14 million in [...]
SEOUL, Jan. 3 (Korea Bizwire) — A growing number of South Korean households are using the internet and mobile devices to buy food, a recent study has revealed. The Ministry of Agriculture, Food and Rural Affairs and the Korea Rural Economic Institute (KREI) conducted a survey of 2,016 households, 78.6 percent of whom responded that [...]
SEOUL, Dec. 31 (Korea Bizwire) — A recent study has showed that lactic acid bacteria contained in “makgeolli,” a South Korean traditional grain-based alcoholic drink, is capable of fighting off bacteria that cause food poisoning. The Gyeonggi-do Institute of Health and Environment conducted a study from January to November collecting 85 strains of lactic acid [...]
SEOUL, Dec. 23 (Korea Bizwire) — Wine sales accounted for a large portion of the liquor sold in the retail industry this year. Wine accounted for the largest portion of sales, surpassing that of local and imported liquor, for the first time, as Emart Inc., South Korea’s largest hypermarket chain, concluded its liquor sales from [...]
SEOUL, Dec. 20 (Korea Bizwire) — Consumers consider the brand’s ‘owner risk’ as an important standard of choice when eating out. According to a survey of 1,000 men and women between the ages of 16 and 64 conducted by market research firm Embrain Trend Monitor, more than half of respondents felt that “There have been [...]
SEOUL, Dec. 19 (Korea Bizwire) — The local fish cake industry has continued to grow as manufacturers of fish cakes, which used to be seen only as humble side dish ingredients, are changing consumer perceptions with high-end snacks. According to the Korea Agro-Fisheries & Food Trade Corp., sales of fish cakes in South Korea have [...]