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Restaurants, Cafés, Convenience Stores Become Meccas for Pokémon Fans

Restaurants, Cafés, Convenience Stores Become Meccas for Pokémon Fans

SEOUL, Feb. 23 (Korea Bizwire) – The popularity of Pokémon GO is gradually waning, but there are still millions of players flicking their fingers on their smartphone screens trying to “catch’em all.”  During the second week of February (February 6 to 10), an estimated 5.63 million people played Pokémon GO, which was a drop from [...]

Half of New Businesses End up Going Bankrupt Within 2 Years, Statistics Show

Half of New Businesses End up Going Bankrupt Within 2 Years, Statistics Show

SEOUL, Feb. 20 (Korea Bizwire) – Some 800,000 small businesses open shop annually, but about half of them go bankrupt within two years, statistics showed Monday. A report released by Statistics Korea said that among businesses that started in 2013, 62.4 percent were still in operation a year later. The rate fell to 47.5 percent [...]

Valentine’s Day Rush to Bring Temporary Boon for Business

Valentine’s Day Rush to Bring Temporary Boon for Business

SEOUL, Feb. 7 (Korea Bizwire) – With only a week remaining until Valentine’s Day, demand is soaring for restaurants and hotels, and, of course, the traditional chocolates. According to industry watchers, hotels started promoting special overnight packages a while ago, and many have already been sold out.  Among the (luxury) hotel and restaurant options is [...]

Shake Shack Opens Second Korean Outlet after Monumental Success

Shake Shack Opens Second Korean Outlet after Monumental Success

SEOUL, Dec. 14 (Korea Bizwire) – The launch of Shake Shack’s first Korean franchise on the main thoroughfare in Gangnam was met with unparalleled success, with the restaurant attracting an average of 3,000 visitors each day.  The local operator of the franchise, SPC Group, is hoping to keep the momentum afloat by opening a second [...]

Food Companies Set up Shop for Face-To-Face Marketing with Consumers

Food Companies Set up Shop for Face-To-Face Marketing with Consumers

SEOUL, Nov. 17 (Korea Bizwire) – Food and snack companies are reaching out to consumers through face-to-face encounters at cafes and restaurants, and reaping multiple benefits of upgrading their company image, testing new products and increasing sales, industry officials said Thursday.  Binggrae in March gave its Banana-flavored Milk, a product that has survived for 40 [...]

Michelin Awards Three Stars to Two Korean Restaurants

Michelin Awards Three Stars to Two Korean Restaurants

SEOUL, Nov. 7 (Korea Bizwire) – Michelin Guide on Monday announced its highly regarded star selections for 24 restaurants in Seoul, giving the much-coveted three stars to two Korean restaurants with unique cuisine and quality service.  In the first Michelin Red Guide for Seoul, Gaon, a fine Korean restaurant operated by ceramic maker Kwangjuyo, and [...]

Anti-Graft Law Makes Cheaper Meals Popular at Hotel Restaurants

Anti-Graft Law Makes Cheaper Meals Popular at Hotel Restaurants

SEOUL, Oct. 19 (Korea Bizwire) – Lower-priced meal sets have been gaining popularity at restaurants run by major South Korean hotels as more customers shy away from expensive meals following the implementation of a draconian anti-graft law, sources said Wednesday.  The law, which took effect on Sept. 28, bans public servants, educators and journalists from [...]

Majority of Small Businesses End up Closing within Five Years: Report

Majority of Small Businesses End up Closing within Five Years: Report

SEOUL, Sept. 28 (Korea Bizwire) – Less than one-third of small enterprises survive past five years, the toll heaviest on finance and insurance businesses, a report showed Wednesday.  According to the Small and Medium Business Administration which submitted the report to the parliamentary trade committee, only 29 percent of small-scale enterprises that opened in 2008 [...]

Talent Agency SM to Take Its Restaurant Business to Japan

Talent Agency SM to Take Its Restaurant Business to Japan

SEOUL, Sept. 12 (Korea Bizwire) – South Korea’s leading talent agency SM Entertainment is going to Japan with its restaurant business that has drawn unexpected success at home, company officials said Monday.  SM aims to open “SMT Tokyo,” the Japanese branch and the first overseas version of SMT Seoul, within six months, according to the [...]