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 [...]
SEOUL, Dec. 5 (Korea Bizwire) – Korean coffeehouse franchise Hollys Coffee announced Monday that it is launching “K-cup” coffee capsules for Keurig coffeemakers in two flavors – Colombian Supremo and Espresso Rainforest Blend. Keurig entered the Korean market in July, and although Hollys Coffee has collaborated with other franchises to make Keurig-specific coffee capsules, this [...]
SEOUL, Nov. 30 (Korea Bizwire) – Coffee companies are engaging in cultural promotions as a way of improving their brand image with customers through hosting mini concerts and art exhibitions. Dongsuh Food, famous for its instant coffee mix brand Maxim, recently hosted its latest classical music concert in the southwestern city of Jeonju on Nov. [...]
SEOUL, Nov. 18 (Korea Bizwire) – Major makers of snacks, drinks and cosmetics have increased the prices of their products as the end of the year draws near, while speculations are rising over price surges in instant noodle and coffee products, according to industry officials Friday. Earlier this month, Oriental Brewery, South Korea’s largest brewer, [...]
SEOUL, Nov. 15 (Korea Bizwire) – Rising international coffee prices this year could hit South Korea soon, industry officials said Tuesday, although major franchises and coffee companies say they have no immediate plans for a markup. The International Coffee Organization (ICO) in its October report noted the significant rise in coffee prices, with Robusta, used [...]
SEJONG, Oct. 17 (Korea Bizwire) – Use of disposable cups in South Korea surged to a record-high volume last year mainly due to heavy coffee drinking, government data showed Sunday. The Ministry of Environment said more than 672.4 million disposable cups were used in South Korea last year, up 7.7 percent from the 2014 tally [...]