SEOUL, Sept. 12 (Korea Bizwire) — Operating profits of Starbucks Coffee Korea are expected to exceed 100 billion won (US$88.4 million) this year amid growing popularity of the U.S. coffeehouse chain here, industry sources said Tuesday. The 50-50 joint venture between retail conglomerate Shinsegae and the U.S. coffee giant posted 52.8 billion won in operating [...]
BOGOTA, Colombia, Sept. 5 (Korea Bizwire) — The Colombian Coffee Growers Federation (FNC) recently launched a global call for making selective coffee harvesting in Colombia more efficient. This public and open call, called “CoffeepickINN”, is a challenge that seeks to identify innovative solution proposals coming from entrepreneurs, research groups and/or companies that make selective coffee [...]
SEOUL, Aug. 8 (Korea Bizwire) —In an attempt to encourage pedestrians to recycle, Seoul’s Seocho District is flexing its creative muscle. On August 7, the district office announced that it will place 44 recycling bins designed to look like giant coffee cups throughout the streets of the Gangnam and Banpo neighborhoods. Standing waist high, these garbage [...]
BOGOTÁ, Colombia, Jun. 14 (Korea Bizwire) – The First World Coffee Producers Forum, to be held in Medellín, Colombia, from July 10 to 12, will be opened by the expert and leader in sustainable development Professor Jeffrey D. Sachs as keynote speaker. The program of the First World Coffee Producers Forum includes speakers, analysts and guests [...]
SEOUL, Jun. 5 (Korea Bizwire) — South Korea’s imports of coffee products surged to record high levels last year on the back of burgeoning demand for the brewed drink, government data showed Friday. The inbound shipments of coffee products, such as raw beans, coffee beans and coffee capsules, reached 159,000 tons at the end of [...]
SEOUL, May 24 (Korea Bizwire) – South Koreans drank a total of 377 cups of coffee per person on average last year, mirroring brisk growth of the sprawling market fueled by a flurry of various franchises, a government report showed Wednesday. The average coffee consumption, based on South Koreans aged over 20, has grown at [...]
SEOUL, Apr. 10 (Korea Bizwire) — The average South Koreans drank 500 cups of coffee last year, reflecting its popularity as a favorite beverage item consumed between meals, industry data showed Sunday. The coffee consumption in Asia’s fourth-largest economy is estimated to have reached about 25.05 billion cups at the end of 2016, up 25 [...]
SEOUL, April 5 (Korea Bizwire) – Instant coffee consumers are switching from coffee mix to instant drip, industry sales data showed Wednesday. The market for coffee mix shrank from nearly 1.24 trillion won (US$1.1 billion) in 2012 to 910 billion won last year on four consecutive years of minus growth. Last year’s sales were down [...]
SEOUL, March 20 (Korea Bizwire) – Marking its 17th anniversary last year, Starbucks Korea’s annual revenue exceeded 1 trillion won for the first time, and much attention is being paid to what is behind the international coffee giant’s long-lived success in the country. Of the 75 countries that Starbucks currently operates in, only in five [...]
SEOUL, March 16 (Korea Bizwire) – Starbucks Coffee Korea, the local unit of the U.S. coffee giant, said Thursday that its annual sales topped the 1 trillion won (US$884.17 million) mark for the first time ever last year after its first shop opened here in 1999. Starbucks Coffee, which is operated by retail conglomerate Shinsegae [...]