SEOUL, Dec. 6 (Korea Bizwire) — South Korean food giant CJ Cheiljedang Corp. said Tuesday it has joined hands with a U.S. startup to develop ingredients used to make health supplements that prevent skeletal muscle loss. CJ Cheiljedang inked a license agreement with Emmyon earlier in the day to utilize the U.S. startup’s various patents [...]
SEOUL, Dec. 5 (Korea Bizwire) — CJ Foodville Corp., the operator of Tous les Jours bakery chain, confirmed Monday it is planning to build a bread factory in the United States as part of its expansion strategy. CJ Foodville is expected to break ground next year, though the exact location or the size of the [...]
SEOUL, Dec. 5 (Korea Bizwire) — Nearly half of South Korea’s large companies have no investment plans for 2023 or have yet to set up plans amid high economic uncertainty, a poll showed Monday. The survey of 100 out of the leading 500 companies by sales in Asia’s fourth-largest economy showed 10 percent having no [...]
SEOUL, Dec. 2 (Korea Bizwire) – With the conspicuous consumption trend of the young generation in their 20s and 30s losing momentum due to high inflation, South Korea’s major retailers are releasing a string of low-price cakes ahead of the Christmas and year-end holiday season. Shinsegae Food Inc., a food business arm of the country’s [...]
SEOUL, Dec. 1 (Korea Bizwire) — South Korea’s whisky imports spiked nearly 62 percent in the first 10 months of the year as more people drank at home amid the coronavirus pandemic, data showed Thursday. The value of imported whisky stood at US$218 million in the January-October period, up 61.8 percent from a year earlier, [...]
SEOUL, Nov. 30 (Korea Bizwire) — Large South Korean companies saw their third-quarter borrowing costs jump more than 40 percent from a year earlier due to rising interest rates, a corporate tracker said Wednesday. The combined interest cost of 268 out of the country’s top 500 firms by sales came to 6.2 trillion won (US$4.7 [...]
SEOUL, Nov. 29 (Korea Bizwire) — Retail sales in South Korea grew 7.3 percent on-year in October, as people’s outdoor activities and demand for various services grew amid eased antivirus curbs, data showed Tuesday. The combined sales of 25 major offline and online retailers came to 14.66 trillion won (US$10.95 billion) last month, compared with [...]
SEOUL, Nov. 28 (Korea Bizwire) — Non-alcoholic and sugar-free zero-calorie drinks are gaining popularity in the liquor market as the pursuit of the so-called “healthy pleasure” lifestyle, in which people stay healthy by doing what they like, is becoming a new trend. Hite Jinro Co.’s alcohol-free Hite Zero 0.00 beer reached sales of 100 million [...]
SEOUL, Nov. 27 (Korea Bizwire) — Business leaders will push to enlist support for South Korea’s bid to host the 2030 World Expo when they take part in this week’s gathering of an intergovernmental body in charge of overseeing the event, a business lobby said Sunday. A delegation led by SK Group Chairman Chey Tae-won [...]
SEOUL, Nov. 24 (Korea Bizwire) — SK Inc. said Thursday it has joined hands with a major local dairy producer and a U.S. startup to merchandise alternative dairy products, such as plant-based milk and cheese, in its drive for sustainable food business. The memorandum of understanding signed with Maeil Dairies Co. and Perfect Day, a [...]