Pandemic-fueled delivery fever drastically subsides among young Japanese consumers

Korean food giant has become unrivaled leader in US with Korean-style tofu with flavorful twists

CEO offers upbeat outlook for this year, pledges to continue sales momentum with diversified product lineup

Highly coveted Korean beef expected to see further price cuts amid sagging demand

KITA says Korean exports not in line with changing consumer sentiment in China

The image of soju being a cheap drink has lingered since then. Soju prices were kept lower even after South Korea became self-sufficient in rice in the late 1970s. In 1974, a bottle of soju was close to 100 won, while a bottle of beer was priced over 200 won. People got used to the taste of the cheap diluted liquor, Im said. “Many people still prefer tapioca-based cheap, diluted soju over tradi...

South Korean vegan cosmetics brand Siita said Thursday that it has been recognized as one of the first zero waste companies globally by a sustainable fashion and lifestyle platform affiliated with the United Nations. The Conscious Fashion and Lifestyle Network is an UN-hosted online platform for industry stakeholders, NGOs, and governments to seek collaborations and report progress for the imple...

South Korean e-commerce giant Coupang is extending its winning streak in earnings, posting a profit for the second consecutive quarter in the fourth quarter 2022, according to its earnings report on Wednesday. The US-listed company said it posted quarterly operating profits of $83.4 million in the September-December period, an almost 10 percent growth from $77 million in the third quarter when t...

South Korean duty-free retailers are expected to see a bump in profits this year with the return of Chinese tourists, according to a Bank of Korea report released Tuesday. This year the number of Chinese tourists visiting Korea is estimated to reach 2 million –10 times last year’s 200,000. The Korean government’s lifting of mandated PCR tests for Chinese tourists upon arrival and the recent res...

Competition for operational rights for lucrative duty-free shops at Incheon Airport is heating up, with China Duty Free Group, one of the largest duty-free retailers globally, joining the race. According to industry sources on Monday, CDFG offered its bid to join the heated race after participating in a tender briefing session last month. Competing head-on with Korean rivals such as Lotte, Shin...

Operating profits for Uniqlo double, while ABC Mart's triple

Swiss premium knife brand Victorinox said Sunday it has released the Alox Limited Edition 2023, a lime-colored spring edition of its popular Swiss Army Knife. The knife made in Switzerland, also widely known as the MacGyver knife, is a timeless design icon frequently featured in contemporary art. The company introduces an Alox edition knife every year with a different theme. Alox is a transpare...

The Korea Agro-Fisheries and Food Trade Corporation, a quasi-government agency, is seeking ways to expand the presence and consumption of Korean food at US military bases. For the globalization of Korean food products, the agency's CEO Kim Chun-jin met with CEO Jacqueline Kim of the US wholesale trade group Kee World at the aT Center in Seoul. They discussed measures for stocking more Korean foo...

Korea’s No. 1 bakery chain repeats success story by offering some 300 products to please different palates worldwide