SEOUL, May 18 (Korea Bizwire) — Affordable and convenient food options are gaining popularity during lunchtime due to the increasing cost of eating out. Gimbap and boxed lunches have become popular choices among convenience foods, thanks to their convenience and reasonable prices. Recent data from convenience store CU reveals that Gimbap holds the highest sales [...]
SEOUL, May 17 (Korea Bizwire) —Yogiyo made an announcement on Wednesday about the introduction of YogiPassX, which is the first subscription service in the industry that offers unlimited delivery services for a fixed fee. This move comes as consumers are increasingly reducing their usage of delivery apps due to the rising costs associated with deliveries. [...]
SEOUL, May 17 (Korea Bizwire) — As pop-up stores are gaining popularity among the “Generation MZ,” a Korean term referring to millennials and Generation Z, the South Korean food industry is coming up with similar marketing strategies to target the same generation. Pop-up stores are a great choice for viral marketing, industry analysts say, allowing [...]
SEOUL, May 17 (Korea Bizwire) — Shinsegae Food Inc., a food manufacturing arm of South Korea’s retail giant Shinsegae, announced on Tuesday the launch of the Better Burger. The burger is made with plant-based ingredients and is available through Shinsegae Food’s fast food hamburger chain, No Brand Burger. To create the burger, the company developed [...]
SEOUL, May 17 (Korea Bizwire) — CJ Logistics Corp., a major South Korean logistics company, said it has signed an initial agreement with Saudi Arabian firm Beez Logistics as part of its efforts to expand its business in the Middle East. With the memorandum of understanding, CJ Logistics will share its logistics experience, technology and [...]
SEOUL, May 16 (Korea Bizwire) — Major companies in South Korea saw their total first-quarter operating income plunge almost 50 percent on-year due to sluggish chip exports, a corporate tracker said Tuesday. The combined operating income of 309 out of South Korea’s top 500 companies by sales came to 25.9 trillion won (US$19.4 billion) in [...]
SEOUL, May 16 (Korea Bizwire) – South Korean food conglomerate CJ Cheiljedang Corp. plans to develop a range of Korean street foods as new products and release them in foreign markets. The company announced on Monday that it will develop six Korean street foods under the Bibigo brand and launch them in major countries across [...]
SEOUL, May 16 (Korea Bizwire) — Starbucks Coffee Korea, which experienced a slowdown in sales growth last year, is seeking new ventures to secure a fresh growth engine. The company held a board meeting in late March and revised its articles of association to include 65 additional business purposes, according to industry sources. Among the [...]
SEOUL, May 15 (Korea Bizwire) — HMM Co. said Monday its first-quarter earnings tumbled more than 90 percent on-year on sluggish shipping rates amid decreased cargo volume. Net profit came to 285.3 billion won (US$214 million) in the January-March period, down 90.9 percent from a year earlier, South Korea’s top container shipper said in a [...]
SEOUL, May 12 (Korea Bizwire) — South Korean steelmakers are at odds with local shipyards over the price hike of thick steel plates used for shipbuilding, industry sources said Friday. Industry leader POSCO and other steelmakers are pushing for hike prices of 6 millimeter or thicker plates, citing soaring iron ore costs and electricity rates [...]