SEOUL, Dec. 16 (Korea Bizwire) — IKEA Korea saw its sales fall this year due to the spread of COVID-19 and a drop in home sales, the first such decline after eight years of continuous growth in its South Korean operations. According to company data, the South Korean arm of the Swedish furniture maker’s sales [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korea’s antitrust regulator said Sunday it has decided to impose fines of 918 million won (US$697,000) on two local units of Pernod Ricard, a French distiller, for handing out illegal rebates to bars. The penalty on Pernod Ricard Korea and Pernod Ricard Korea Imperial came as the two [...]
SEOUL, Dec. 9 (Korea Bizwire) — Sales of Lotte Confectionery Co.’s signature chocolate brand “Ghana” surged after the South Korean men’s national football team joined the round of 16 at the Qatar World Cup with the help of Ghana losing to Uruguay by only two goals. According to industry sources, sales of Ghana chocolate products [...]
SEOUL, Dec. 8 (Korea Bizwire) — Liquor companies in South Korea are opening up a series of pop-up stores for whisky brands in order to engage with customers. Windsor Global Co., a homegrown whisky maker, announced that it will open up its first pop-up store, House of Windsor, at S-Factory, located in Seoul’s Seongdong District, from Friday [...]
SEOUL, Dec. 8 (Korea Bizwire) — American fried chicken franchise Popeyes is set to open a store in Seoul next week, two years after closing business in South Korea, its South Korean operator said Thursday. Popeyes’ U.S. operator, Restaurant Brands International Inc., agreed on a master franchise agreement with Silla Co. and is set to [...]
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. 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. 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 [...]