Popeyes makes strong Korean comeback

US fried chicken fast food chain Popeyes is reporting strong sales after its return to the South Korean market. According to Silla Group, the operator of Korean Popeyes outlets, more than 5,000 customers visited its Gangnam branch during the first three days of the chain's relaunch, which took place on Dec. 16. In addition, as of Tuesday, more than 50,000 chicken sandwiches -- the chain's newly launched flagship menu -- were sold during the month after the store's first opening. T

Jan. 24, 2023

History of Seollal gifts

South Koreans’ Seollal gift packages appear to have no limit on what they can contain. Gift packs full of spam, preserved tuna or soap are the most frequently exchanged. However, there are thousands of different Seollal gift sets. South Korean convenience store chain GS25 in December unveiled its Seollal gift catalog with more than 850 kinds of gift sets, which include a 9 million-won ($7,260) bottle of Le Pin wine while another includes a rabbit-carved gold medal for the coming year of th

Jan. 23, 2023

Pesticides found in Shin Ramyun Black Tofu & Kimchi exports to Taiwan

Hazardous substances were detected in Korean food company Nongshim's flagship ramen products to Taiwan, according to the Taiwan Food and Drug Administration Thursday. Nongshim's exports of Shin Ramyun Black Tofu & Kimchi cup noodles to Taiwan failed to pass the country's customs inspection, the TFDA said. According to the TFDA, 0.075 milligram per kilogram of ethylene oxide, or EO, had been found in soup packets of each instant cup noodle product. EO, which is largely used for

Jan. 19, 2023

Ex-Gucci CFO named head of Shinsegae International

Fashion and cosmetics retailer Shinsegae International said Tuesday it appointed a luxury fashion expert William Kim as its new CEO, in a bid to strengthen the company's luxury fashion business and sharpen the company's digital edge. Kim's previous career includes having served as a chief financial officer at Gucci, where he worked in teams with partners including Stella McCartney, Alexander McQueen and a number of luxury timepiece brands including Bedat & Co. According to Shi

Jan. 17, 2023

Naver aims to improve Poshmark tech amid market jitters

South Korean internet giant Naver on Friday unveiled a slew of new projects aimed at giving Poshmark, the US reselling platform it acquired early this month, a technological edge and returning it to profit. Naver took over Poschmark for $1.31 billion on Jan. 6, in its largest-ever deal. As their first collaboration, called "Posh Lens," Naver will be providing Poshmark with the internet firm's visual search technology to allow users to be able to find products they want by taking p

Jan. 15, 2023

Orchestra Private Equity to acquire KFC Korea for 60 billion won

Orchestra Private Equity, a private equity firm based in Singapore, has signed a stock purchase agreement to acquire chicken franchise KFC Korea, according to industry sources on Friday. Under the deal signed on Thursday, Orchestra PE will purchase a 100 percent stake in KFC Korea from KG Group, a chemical-to-steel company based in Seoul. The transaction has an estimated worth of 60 billion won ($48.3 million) to 70 billion won. KFC Korea has been on sale for a year by KG Group which took ov

Jan. 13, 2023

Naver becomes biggest shareholder in Spain's No. 1 resell platform

In continued efforts to expedite its foray into the global consumer-to-consumer, or C2C, market, e-commerce platform Naver recently became the largest shareholder of Spanish secondhand marketplace Wallapop with an investment worth 75 million euros ($80.7 million), according to industry sources Thursday. Following Naver's investment worth 115 million euros made in last February to acquire 10 percent of Wallapop's stocks, with the additional investment, Naver now stands as the largest sh

Jan. 12, 2023

[Photo News] LG's new anti-aging device

LG Electronics on Tuesday launched a new skin care device called Pra.L DermaThera that uses ultrasonic control technology to help the skin produce collagen and improve elasticity. The latest addition to the tech giant’s popular Pra.L beauty device lineup is priced at 1.59 million won ($1,280).

Jan. 10, 2023

CJ CheilJedang seeks to expand K-food territory

One of South Korean food giant CJ CheilJedang's new year's resolutions appears to be to make an active foray into the global market. The food conglomerate recently said it is slated to accelerate its expansion of "K-Food Global Territory" by making inroads into previously unexplored markets. "We will make a fully fledged entry into countries that we have not tapped yet and achieve growth with seven global strategic products," said Choi Eun-seok, CEO of CJ CheilJedan

Jan. 9, 2023

[Graphic News] Imports of party supplies hit record high through Nov.

South Korea’s imports of party supplies, such as decorations and balloons, hit a record-high through November this year, customs data showed, as the country has lifted social-distancing rules. The combined imports of party supplies over the January-November period came to $64 million, up 31.7 percent from a year earlier, according to the data compiled by the Korea Customs Service. The amount far exceeds $56 million tallied for all of 2021. The growth came as people hosted various parties,

Jan. 6, 2023

[KH Explains] No more ‘Burberry check’ on Korean school uniforms

With a new semester starting in two months, South Korean school uniform makers are currently busy reproducing a slew of checkered-pattern school uniforms. "Tens of millions of won have gone to waste," said an official from Hyungji Elite, a school uniform brand, who wished to be unnamed. The hasty disposal and reproduction of school uniforms follows an agreement reached last year between UK fashion juggernaut Burberry and the Korean School-uniform Industry Association, a business lobb

Jan. 5, 2023

Duty-free industry pinning high hopes on China liftng 'COVID-zero' policy

With China abolishing measures to quarantine its travelers starting 2023, South Korean duty-free shops are expecting a boost in its earnings, according to industry sources Monday. China's National Health Commission announced recently that starting Jan. 8, overseas entrants to China will no longer need to be quarantined or take PCR tests upon returning to the country. This marks the first time in three years since the pandemic broke loose that Chinese tourists will be able to travel abroad w

Jan. 2, 2023

Naver-Coupang rivalry entering new phase

E-commerce platform Naver is bolstering its delivery service, which has remained its weak point despite its vast vendor network, and renewing competition with its archrival Coupang. Naver said recently it is launching a new delivery scheme, called “Naver Guaranteed Delivery Service,” starting Jan. 14, which aims to minimize delivery time and compensate consumers if their orders do not arrive on time. The point reward worth 1,000 won ($0.8) compares to delivery fees normally priced at

Jan. 1, 2023

New rules on 'best before' dates to increase products' shelf life

The nation’s 38-year-old food expiration date system will be revised from next year to be based on use-by dates of food items, not sell-by dates, in an attempt to reduce food waste. The use-by date refers to the last day food can be consumed. If the food is older than that date, the consumer should not eat, freeze or cook the food as it may cause food poisoning. For decades, Korea has adopted a scheme based on the sell-by date, which reflects the producer’s estimate of when a food it

Dec. 26, 2022

Samsung chief's puffer vest sells out in one day

A simple puffer vest worn by Samsung Electronics Chairman Lee Jae-yong stole the limelight when the business mogul appeared at Gimpo International Airport on Wednesday, with the item selling out online just one day later. Lee, who usually dresses in formal Western business attire for official engagements, was headed for Vietnam to participate in an inauguration ceremony for a newly built Samsung Research and Development center. The mobile device R&D center is the company's largest in So

Dec. 23, 2022

7-Eleven speeds up converting Ministop stores

US-originated convenience store chain 7-Eleven is speeding up to complete the ongoing conversion of Ministop stores by the end of next year as the Korean operator owned by Lotte Group aims to cement its market position among the nation’s top three convenience store operators, according to Korea Seven on Wednesday. Lotte CVS 711, a Lotte affiliate, recently transferred an additional 20.5 billion won ($16 million) to Korea Seven, the local operator of 7-Eleven stores, to expedite switching M

Dec. 21, 2022

Luxury hotels slash VIP benefits to brace for lackluster year

Popular hotel chains are tightening criteria for VIP memberships and slashing generous benefits in a move to brace for lackluster sales next year, according to industry sources on Tuesday. Starting Jan. 1, Lotte Hotel, the nation’s largest hotel chain, will raise the bar to qualify for its Rewards Membership. Currently, classic, silver, gold and platinum memberships are awarded based on the customer's number of stays at Lotte chain hotels nationwide. A customer must now stay over at a

Dec. 20, 2022

[Photo News] Wishing tree

A promotional poster for Paris Baguette's Christmas seasonal cake "Snow Wishing Tree" is pictured. The coffeehouse-to-bakery chain, owned by SPC Group, has unveiled this year's Christmas cake lineup consisting of five tree-shaped cakes.

Dec. 20, 2022

Fashion powerhouse inks exclusive contracts with overseas designer brands

Hyundai Department Store's fashion retail arm Handsome said Thursday it inked three separate exclusive domestic distribution contracts with foreign designer brands, in a drive to expand its overseas fashion portfolio. The fashion retailer clinched exclusive deals with US designer brands Gabriela Hearst, Veronica Beard and Swedish fashion brand Toteme. French luxury brand Chloe's creative director Gabriela Hearst's eponymous clothing brand was launched in the US in 2015 and focuses

Dec. 15, 2022

Ministry bets big on fostering food-tech startups

In a bid to strengthen the nation's food technology industry, the government unveiled its plan on Wednesday to incubate 30 unicorn startups and aim to quadruple food-tech related exports by 2027. According to the Ministry of Agriculture, Food and Rural Affairs, food-tech refers to a newly rising industry which applies state-of-the-art technologies such as biotechnology, and artificial intelligence to various processes including preservation, processing, packaging, distribution, and use of

Dec. 14, 2022