SEOUL, Aug. 21 (Korea Bizwire) – While South Korea’s beer and whisky markets have recently experienced a downturn, Japanese products are bucking the trend with growing popularity, according to recent customs data. From January to July ofthis year, imports of Japanese beer surged to $37.77 million, a 66% increase compared to the same period last year, [...]
SEOUL, Aug. 20 (Korea Bizwire) – Small business owners in South Korea are preparing to differentiate prices between in-store and delivery orders, a move triggered by a recent increase in commission fees by Baemin, the country’s largest food delivery platform. This collective action, set to begin on August 22, is raising concerns about potential inflationary pressures [...]
SEOUL, Aug. 15 (Korea Bizwire) – In a blend of corporate social responsibility and patriotic observance, Domino’s Pizza marked Korea’s Liberation Day by distributing free pizzas to staff and visitors at the Daejeon National Cemetery on August 15. The pizza chain deployed its food truck, known as the “party car,” to the cemetery, which serves as [...]
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 [...]