SEOUL, Feb. 28 (Korea Bizwire) — South Korea’s food companies are launching into the pharmaceutical and biotech industries as part of efforts to ensure sustainable business growth. Dongwon Industries Co. has signed an initial agreement with Boryung Partners last week over its possible takeover of Boryung Biopharma Co. Under the memorandum of understanding, the canned [...]
SEOUL, Jan. 5 (Korea Bizwire) — South Korea’s food industry is releasing a string of gift sets using eco-friendly packaging ahead of the Lunar New Year holiday. Dongwon F&B Co. released a gift set packaged in an eco-friendly material, Paper Press. It is 100 percent made of paper. A tray made of this material has [...]
SEOUL, May 26 (Korea Bizwire) — South Korean food companies are speeding up their efforts to develop eco-friendly tech and products aimed at reducing the use of plastic materials or creating biodegradable plastic. Dongwon F&B Co. reduced the weight of the 500-milliliter and 2-liter bottles used for Dongwon Mineral Water by 15.7 percent and 9.4 [...]
SEOUL, March 31 (Korea Bizwire) — South Korean food companies are rolling out not-so-spicy ‘mild kimchi’ products to increase their presence in the American and European markets. Daesang Corp. recently invested 20 billion won (US$16.5 million) to set up a manufacturing plant in Los Angeles capable of producing around 2,000 tons of kimchi every year. [...]
SEOUL, Jan. 5 (Korea Bizwire) — South Korean food producers are stepping up to address the growing distribution of copycat products in China. The Korea Food Industry Association established a consortium of food producers to file a lawsuit against Qingdao Taeyangcho Food Co. and Zhengdao Food Co., the two largest K-food imitation producers in China, [...]
SEOUL, Sept. 1 (Korea Bizwire) — An international environmental group gave a low score to the South Korean food industry’s efforts in dealing with plastic. The Seoul branch of Greenpeace published a report on Tuesday that analyzed the efforts of the country’s five major food companies — CJ Cheiljedang Corp., Lotte Chilsung Beverage Co., Ottogi [...]
SEOUL, July 2 (Korea Bizwire) — South Korea’s major food companies are expanding direct sales through their own online shopping portals instead of using large discount stores or e-commerce platforms. CJ Cheiljedang Corp., the country’s leading processed foods maker, has been engaged in aggressive marketing, greatly expanding the scope of discount events since it upgraded [...]
SEOUL, May 8 (Korea Bizwire) — So-called ‘meatless meat’ that is made from plant-based ingredients without animal products is gaining popularity among consumers. Shinsegae Food Inc., the food unit of of South Korean retail giant Shinsegae, reported that sales of its ‘No-chicken Nuggets’, released last month, were three times higher than the company’s sales projections. [...]
SEOUL, May 18 (Korea Bizwire) — South Korean giant food manufacturers boasted two-digit profit growth in the first three months of this year on brisk demand for instant home meal products amid coronavirus-led social distancing, data showed Monday. In the January-March period, earnings of food conglomerate CJ Cheiljedang Corp. were 28 percent higher than brokerages’ [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korean food companies struggling with tepid domestic demand are turning their eyes to the U.S. for a breakthrough. As more Americans are taking an interest in Korean food, an increasing number of South Korean companies are beginning to see potential in the American market, many of which have [...]