Five Guys sells 15,000 burgers in 1st week in Seoul

South Korea’s first Five Guys burger restaurant located in Gangnam-gu, southern Seoul, sold around 15,000 burgers during its first week, according to FG Korea, a food subsidiary of Hanwha Galleria, Tuesday. On average, Five Guys sold more than 2,000 burgers a day and up to 200 burgers an hour. Customers from various regions across Korea came to eat at Five Guys, including Seoul, Gyeonggi, Daejeon, Daegu and Busan, the company said. There were even some that flew to Korea from Japan, which

July 4, 2023

Korea's ramen exports hit record high amid K-ramen boom

South Korea posted its highest-ever semi-annual ramen exports figure amid the increased global demand for Korean instant noodle products, data found Tuesday. According to the data from the Korea Agro-Fisheries and Food Trade Corporation, a quasi-government agency, Korean ramen exports were tentatively tallied at $446.2 million, as of June. The number recorded a 16.4 percent jump from the previous record high of $383.2 million, logged in the first half of 2022. Korea's semi-annual ramen expo

July 4, 2023

[Photo News] Starbucks pumpkin latte for shared growth

Starbucks Korea said Tuesday that its third drink developed with the Korean Commission for Corporate Partnership and the national cooperative association of cafe owners, named the Okcheon Sweet Pumpkin Latte, will go on sale at 150 cafes owned by small business owners across the nation. The drink is the specialty coffee chain’s third attempt at launching unique beverage recipes using locally sourced ingredients in a bid to ramp up its contribution to the local economy.

July 4, 2023

Coupang launches luxury beauty shopping service Rocket Luxury

South Korea's top e-commerce retailer Coupang said Monday it has launched a new service allowing customers to buy luxury beauty brands' products at its platform. At Rocket Luxury, customers will be able to purchase products of 16 high-end beauty brands from home and abroad, including Estee Lauder, MAC, Bobby Brown and Hera, directly bought by Coupang. The products will be delivered through the "rocket delivery" service, which offers delivery service within 24 hours upon order

July 3, 2023

[KH explains] Pressured into price cuts at home, ramen makers in export predicament

South Korean ramen manufacturers are in a rush to cut prices of their flagship ramen and snack products, following the government’s pressure to lower prices of daily necessities. But Samyang Foods, the nation’s second-largest ramen maker, cannot lower the price of Spicy Buldak Ramen, a bestselling product that now sells better overseas than at home. In the January-March period this year, the instant noodle made 163 billion won ($124 million), or 66 percent of the company’s quar

July 3, 2023

Shinsegae premium outlet aims to become tourism hub

Shinsegae Simon, a premium outlet operator under South Korean retail giant Shinsegae Group, said Thursday it will ramp up its reach to tourists by turning its outlets into a local tourist destination. Starting Saturday, an exclusive express bus route will take patrons from Seoul Express Bus Terminal located in southern Seoul, to Shinsegae Simon Yeoju Premium Outlets in Gyeonggi Province, according to Shinsegae Simon, a 50:50 joint venture between Shinsegae and US-based real estate developer Simo

June 29, 2023

Gordon Ramsay Burger to open 2nd South Korean location in Busan

Michelin-star chef Gordon Ramsay will open his second burger restaurant in South Korea in the southern city of Busan this week, officials said Wednesday. The newest Gordon Ramsay Burger will open in Shinsegae Centum City Department Store in Busan on Thursday. It will be the gourmet burger chain's second location in South Korea, joining the Seoul restaurant that opened last year, according to the company. Various types of burgers, fries and drinks will be on the menu, and some 100 seats will

June 28, 2023

[Best Brand] AK Golf, No. 1 online golf retailer, seeks offline expansion

AK Golf, the pioneering company that initiated online golf distribution in South Korea, has succeeded in driving golf popularization through innovative online distribution and a groundbreaking pricing system. The domestic golf equipment market used to be dominated by expensive offline stores in each region, creating a closed market. However, AK Golf revolutionized the purchasing experience by offering an innovative way for consumers who opt for rational consumption. By transforming the tradition

June 28, 2023

[Best Brand] Starbucks Korea offers camping gear in seasonal giveaway

Starbucks Korea is putting forward a 2023 summer promotional event showcasing five gift items including side tables in three color options and two types of Starbucks-themed pans and plates until July 10 at its stores nationwide. The seasonal event, called the e-Frequency reward program, has been taking place biannually in South Korea since 2013, providing limited-edition goods to Starbucks members who purchase a total of 17 drinks, including three mission drinks. This year's theme, "Su

June 28, 2023

[Best Brand] Coway raises the bar for water purifiers

South Korean home appliance maker Coway is redefining the market with its innovative design and performance of its water purifiers. Its Icon Ice Water Purifier has gained attention with its comparably small size. With a width of 24 centimeters and a side length of 47.3 centimeters, the Icon water purifier can contribute to better kitchen space utilization. Available in ice white, pink, blue, and gray, the Icon Purifier boasts its ice-making speed, with each cycle taking only about 12 minutes and

June 28, 2023

Food ministry vows to double K-food exports by 2027

The South Korean government on Wednesday unveiled a plan to drastically ramp up Korea's food exports to combat stagnancy in the domestic food market and to capitalize on the K-food boom overseas. The Ministry of Agriculture, Food and Rural Affairs announced a plan that aims to nearly double Korea's agricultural exports from $8.82 billion in 2021 to $15 billion by 2027. With the new plan, the Food Ministry said it will vie for a 9 percent on-year growth on average and ultimately raise t

June 28, 2023

[Best Brand] Metamix aims to provide quality supplements through innovative development

The health supplement market has been seeing increasing demand as people prioritize their immunity and well-being, especially after the global COVID-19 pandemic. Mirae Wellcare aims to cater to those needs by providing affordable and healthy products to consumers. Accordingly, its health supplement brand, Metamix, offers a variety of health-boosting supplements while simultaneously contributing to a culture of sustainability. Metamix products, such as the 10 Billion Probiotics and Lutein Eye Car

June 28, 2023

Nongshim, Samyang succumb to pressure, cut prices of products

South Korea’s top ramen maker Nongshim said Tuesday it will cut prices of its flagship ramen and snack products, after it came under government pressure to lower costs of daily food products amid prolonged inflation woes. The company said it will cut the prices of Shin Ramyun and Shrimp Crackers by 4.5 percent and 6.9 percent, respectively, starting this Saturday. Based on their retail prices, the price of Shin Ramyun will be lowered from 1,000 won ($0.77) to 950 won on average, while the

June 27, 2023

Seoul mayor promotes K-beauty in Japan

Seoul Mayor Oh Se-hoon vowed to support South Korean beauty firms making a foray into Japan, the third-biggest market for cosmetics in the world, during his official visit to the neighbor country, the city government said Tuesday. According to the Seoul Metropolitan Government, Seoul Business Agency, an investment agency under the city government, and eBay Japan signed a memorandum of understanding to foster the online growth of small and medium-sized Korean cosmetics companies in the Japanese b

June 27, 2023

K-beauty sees surging growth in Vietnam

Vietnam is seeing exponential growth in demands for South Korean cosmetics, marking it as a potential replacement market for Korean beauty companies suffering from their recently spluttering performances in the major market of China, according to data Monday. According to the Korea Cosmetics Association's data, Korean cosmetics exports to Vietnam from January to May this year surged 43.4 percent compared to the same period a year earlier, logging $187.5 million in exports. Korea's cosm

June 26, 2023

[Photo News] Hanwha heir celebrates 1st Five Guys store opening

Kim Dong-sun, head of strategic management at Hanwha Galleria, speaks during a press conference held at the first Five Guys restaurant to open in South Korea in Gangnam-gu, southern Seoul, Thursday. With the first store becoming fully operational from Monday, operator FG Korea said it aims to open at least 14 more Five Guys locations by 2028. (Yonhap)

June 22, 2023

Bodyfriend launches massage chair with body composition analyzer

South Korea’s leading massage chair maker Bodyfriend on Thursday launched a new massage chair, called Davinci, which analyzes users’ body composition and offers more customized massage options. “It has been widely accepted that massage chairs are mostly used by older generations. But the newly launched massage chair featuring bioelectrical impedance analysis is expected to appeal to younger generations,” Bodyfriend Chief Marketing Officer Song Seung-ho said during the lau

June 22, 2023

Convenience store CU makes foray into Kazakhstan

BGF Retail, the operator of South Korean convenience store chain CU, announced Tuesday that the company will expand its convenience store business into Kazakhstan. The firm plans to open the first CU store in Kazakhstan during the first half of next year and establish around 500 branches in the country in the next five years. When opened, Kazakhstan will become the first Central Asian country to have CU stores. BGF Retail says it would also be the first foreign convenience stores in Kazakhstan.

June 20, 2023

Coupang, Naver dominate Korea's e-commerce market

South Korea's no. 1 e-commerce operator, Coupang, and its local archrival, Naver Shopping, are dominating the South Korean e-commerce industry, taking up some 65 percent of the local market, according to a survey Tuesday. According to the consumer data analysis platform Opensurvey's research on 2,500 respondents aged between 20 to 59, Coupang was the most frequently used e-commerce service for Koreans, making up for 37.7 percent of responses. Naver Shopping came in second, with 27.2 pe

June 20, 2023

Ramen firms under pressure to lower prices

South Koreans ramen makers said Monday that it is currently difficult to adjust the prices of their ramen products, in response to the South Korean government's recent call for them to cut prices amid the fall in raw material costs. "Milling companies were supplied with months' worth of raw materials when their costs were high. Even if the prices of wheat and other major materials needed for making ramen have fallen recently, it is difficult to adjust the price of ramen immediatel

June 19, 2023