SEOUL, Feb. 15 (Korea Bizwire) – In an era marked by high inflation, consumers are increasingly seeking value for their money, leading to a significant surge in sales for budget coffee franchises last year. According to NH Nonghyup Card, these affordable coffee chains, including Mega Coffee, Paik Dabang, Compose Coffee, and Mammoth Coffee, witnessed a 37% [...]
SEOUL, Feb. 12 (Korea Bizwire) – South Korea boasted the fourth-largest number of Starbucks outlets globally as of last year, driven by robust demand from local consumers. According to data released Monday by the U.S. coffee giant, South Korea had 1,893 Starbucks stores in 2023, marking an increase of 116 from the previous year. Despite [...]
SEOUL, Feb. 11 (Korea Bizwire) – Shin Ramyun was the bestselling instant noodles in South Korea last year and Saeukkang was the top selling snack, data showed Sunday. Retail sales of Shin Ramyun of Nongshim, available in both packaged and cup noodle forms, amounted to 383.6 billion won (US$287.8 million) last year, topping the list [...]
SEOUL, Feb. 10 (Korea Bizwire) – Exports of soju, distilled Korean liquor, topped US$100 million for the first time in 10 years in 2023, data showed Saturday. According to the Korea Customs Service, outbound shipments of soju reached $101.4 million in 2023, an increase of 8.7 percent from 2022. The last time soju exports surpassed [...]
SEOUL, Feb. 6 (Korea Bizwire) — South Korean food company Paldo Co. said Tuesday it will export the country’s traditional sweet rice beverage with halal certification to Indonesia as it aims to make a presence in the local halal food market. Paldo’s Birak Shikhye, usually served as dessert, will be available at discount store chains [...]
SEOUL, Jan. 28 (Korea Bizwire) – South Korea’s imports of Japanese seafood posted the biggest on-year decrease last year since 2012, a year after the Fukushima nuclear accident, data showed Sunday. South Korea imported Japanese fish and shellfish worth a combined US$151.9 million in 2023, down 12.8 percent from a year earlier, according to data [...]
SEOUL, Jan. 27 (Korea Bizwire) – Once known as the ‘people’s side dish’ for its affordability, squid is now becoming increasingly expensive. The primary cause is a significant reduction in global catch rates, exacerbated by climate change. Squid, which typically have a one-year lifespan, struggle to adapt to rapidly changing habitats, leading to a scarcity [...]
SEOUL, Jan. 24 (Korea Bizwire) – Canadian coffee brand Tim Hortons said Wednesday it will add two new outlets in South Korea this month amid a strong response from local consumers since it began operations a month ago. Tim Hortons opened the first and second stores in Sinnonhyeon and Seolleung, southern Seoul, on Dec. 14 [...]
SEOUL, Jan. 21 (Korea Bizwire) – South Korea’s exports of kimchi set a new record in 2023 amid the rising popularity of Korean entertainment content around the globe, data showed Sunday. Outbound shipments of kimchi, a traditional Korean side dish typically made from fermented cabbage, shot up 7.1 percent to 44,041 tons, according to the [...]
SEOUL, Jan. 17 (Korea Bizwire) — South Korea’s beer imports from Japan soared last year to regain its leading position in the country’s import beer market after five years, according to the customs office Wednesday. The resurgence of Japanese beer products appears to have benefited from the release of a viral video showing a worker [...]