SEOUL, Sept. 4 (Korea Bizwire) — Not only is the domestic food and retail industry venturing into the production and sale of health functional foods, but the cosmetics sector is also making strides in this field. As the market expands, companies are placing significant emphasis on setting themselves apart to gain a competitive edge. Binggrae [...]
SEOUL, Aug. 29 (Korea Bizwire) — Retail sales in South Korea rose 5.9 percent on-year in July as more people enjoyed outdoor activities for summer vacation amid eased antivirus curbs, the industry ministry said Tuesday. The combined sales of 25 major offline and online retailers came to 14.73 trillion won (US$11.12 billion) last month, compared [...]
SEOUL, Aug. 25 (Korea Bizwire) — E-Mart24 Inc., one of South Korea’s major convenience store (CVS) chains, has signed an initial agreement with a South Korean real estate service company and a Cambodian food and beverage group to make inroads into the Cambodian market, company officials said Friday. E-Mart24 signed a memorandum of understanding (MOU) [...]
SEOUL, Aug. 23 (Korea Bizwire) — South Korean bakery brand Tous les Jours has opened its 100th store in the United States, its operator said Wednesday, adding it aims to open up to 1,000 stores in the U.S. by 2030. Tous les Jours has opened its 100th shop in Bronxville, New York, according to CJ [...]
SEOUL, Aug. 22 (Korea Bizwire) — With the relentless summer heat persisting, there has been a rapid surge in the number of people frequenting indoor shopping venues. During the period from Aug. 1 to 15, Hyundai Department Store observed a 13 percent increase in sales across its 16 stores nationwide compared to the previous year. [...]
SEOUL, Aug. 18 (Korea Bizwire) — CJ Logistics Corp., a major South Korean logistics company, is consistently losing market share in the domestic parcel delivery service due to the active attraction of individual customers by e-commerce giant Coupang Inc. As per CJ Logistics’ half-year report, the company secured a share of 44.3 percent in the [...]
SEOUL, Aug. 17 (Korea Bizwire) — A range of new plant-based bread products from Shinsegae Food Inc., a food business arm of retail giant Shinsegae Group, are receiving a positive market response. According to the company, the Better Meat Pizza Bread, which was launched at bakery sections within E-Mart Inc. outlets last month, is averaging sales of [...]
SEOUL, Aug. 16 (Korea Bizwire) — As the demand for plant-based milk alternatives continues to surge within the food industry, there’s news that even the Coca Cola Beverage Co. is poised to make its entry into this market. The realm of alternative milk, crafted from plant-based ingredients such as oats, is witnessing heightened attention from [...]
SEOUL, Aug. 13 (Korea Bizwire) — Cosmax Inc., South Korea’s major cosmetics manufacturer, said Sunday its factory jointly built with Yatsen Holdings has begun operations in Guangzhou, China. Cosmax set up a joint venture, Yatsen Biotechnology, with the New York-listed Chinese Yatsen in 2020, and began construction of the 60,593-square-foot factory, Asia’s biggest cosmetics factory. [...]
SEOUL, Aug. 11 (Korea Bizwire) — South Korea’s top instant noodle maker Nongshim Co. said Friday its net profit jumped more than 60 percent in the second quarter from a year earlier largely thanks to stronger demand for instant noodles amid high inflation and growth in overseas markets. Net profit for the three months ended [...]