Most Popular
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Korea added to key bond index
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South Korean author Han Kang wins 2024 Nobel Prize in literature
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North Korea notifies UN Command of plans to fortify border with South
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Will Apple quit smart ring race with Samsung?
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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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More deaths in ICU following doctors' mass walkout: lawmaker
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Security issues to take center stage at ASEAN summit
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North Korea already cut off inter-Korean roads in Aug.: JCS chief
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[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
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Retail sales up 4 % in April on outdoor activities, shopping events
Retail sales in South Korea rose 4 percent on-year in April on the back of people's growing outdoor activities and various promotional events by major discount stores, the industry ministry said Tuesday. The combined sales of 25 major offline and online retailers came to 14.08 trillion won ($10.67 billion) last month, compared with 13.54 trillion won a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. The on-year increase came as more people turned
May 30, 2023
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[Hello Hangeul] Hangeul adds premium feel to Korean brands
On the heels of the ever-booming K-wave, Hangeul, the Korean alphabet, is being increasingly employed by both domestic and overseas companies as a unique marketing strategy to promote corporate values and raise brand awareness. Korean food companies seeking to foray into overseas markets are making full use of Hangeul to give themselves credibility and capitalize on the special currency the Korean alphabet holds in the global market. CJ CheilJedang, a Korean food giant whose global food sales ac
May 29, 2023
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Korean food makers win legal fights against Chinese counterfeiters
Korean food makers have won in legal fights against Chinese counterfeiters in a series of lawsuits filed in China, according to the Korea Food Industry Association on Thursday. Of the total seven cases raised, the Chinese court recently ruled in favor of Korean firms in five cases at the first trial stage. Following the rulings, the Chinese companies in question are now required to pay compensation worth 250,000 yuan ($35,353) to CJ CheilJedang, 350,000 yuan to Samyang Food, and 200,000 yuan to
May 25, 2023
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EU eases export rules on Korean ramen
The Ministry of Food and Drug Safety said Wednesday the European Union has decided to ease import regulations for Korean ramen products, 18 months after a mishap with a carcinogen in ramen imports sent to Europe. According to the ministry, the EU will be easing the inspection of ethylene oxide in imported Korean ramen products starting in July. EO, which is majorly used as a fumigant and sterilizing agent, is classified by the World Health Organization as a potential carcinogen. The EU strengt
May 24, 2023
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Outpaced by Coupang, E-mart faces gloomy outlook
The nation’s largest discount store chain E-mart, owned by retail giant Shinsegae Group, suffered dismal sales in the first quarter this year, outpaced by its smaller rival Coupang for the first time, with a gloomy outlook for the rest of the year, according to local brokerage firms Monday. In the first three months of the year, E-mart posted 13.7 billion won ($10.3 million) in operating profits, a 60.2 percent fall from a year ago. Net profit also plunged more than 90 percent to 2.7 billi
May 22, 2023
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Dongsuh opens pop-up store for Oreo's 111th birthday
South Korean food and beverage manufacturer Dongsuh Foods announced Monday it will operate an Oreo pop-up store in Seongsu-dong, Seoul, until June 18 to mark Oreo Day on May 25. Commemorating Oreo’s 111th anniversary since its launch in 1912, the pop-up store is designed to give consumers a different experience of the brand, celebrating the achievement of becoming the world's No. 1 cookie. The pop-up store consists of a total of three spaces: the Welcome Zone, the Connect Zone and the
May 22, 2023
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CJ completes world's largest pizza factory in US
South Korean food giant CJ CheilJedang said Monday that it recently completed the construction of the world's largest pizza production plant in the US state of Kansas, in a bid to ramp up its competitiveness in the all-important market. According to CJ CheilJedang, the company recently added 40,000 square meters to its frozen pizza production facility in Salina, Kansas. With the expansion, the plant now stands on 90,000 square meters of land, marking it the largest frozen pizza production p
May 22, 2023
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[K-Food] Ourhome tests potential of Korean food catering services on global stage
Riding on a wave of momentum for the soaring popularity of South Korean food among global consumers, "K-food" institutional food service businesses are gaining traction at overseas cafeterias. Ourhome, a Korean food catering giant, says it has been steadily increasing the proportion of its global sales since starting its first overseas business on 2010 -- with its on-site food catering service performances in cafeterias abroad largely buoyed by its decision to organize nearly half of
May 18, 2023
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Formna to launch BTS-themed sandals
The Formna, a South Korean online retailer, announced Thursday it is launching the 2023 BTS Permission to Dance Spring Sandals in July through an official licensing agreement with Hybe, the K-pop agency behind the global sensation. According to the Formna, the BTS-themed sandals, in both black and white versions, will be produced in collaboration with Noitavonni, a Korean shoemaker specializing in health care shoes. The company’s air cushion patents have gained approval from the US Food an
May 18, 2023
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Inflation driving up costs to eat out
Prices of popular eating out options at restaurants continued to increase in April, adding more pressure to people’s consumption, a state-led agency’s data showed Wednesday. According to the Korea Consumer Agency data, the average price of a bowl of jajangmyeon, or noodles in black bean sauce, in Seoul increased by 12.5 percent on-year to 6,915 won ($5.20), up from 6,146 won a year ago. The average price of a bowl of samgyetang -- ginseng chicken soup that is popular during the summe
May 17, 2023
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Nongshim's profits soar on upbeat US sales
South Korean food giant Nongshim saw its profits nearly double in the first quarter, primarily led by its booming business in the US, the company's earnings report said Tuesday. According to Nongshim's regulatory filing, the company's sales and operating profits during the January to March period were tallied at 860.4 billion won ($643 million) and 63.8 billion won, respectively, on a consolidated basis. Compared to the same period last year, Nongshim's sales have increased b
May 16, 2023
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CJ to launch street food lineup overseas
South Korean food giant CJ CheilJedang said Monday it will start selling Korean street food products in major overseas markets, such as North America and Europe, riding a wave of momentum from the booming "K-food" business. The conglomerate will launch six "strategy" Korean street food products in the overseas market under its brand Bibigo. The new products include tteokbokki, Korean-style hot dogs, gimbap, fried seaweed rolls, bungeoppang (fish-shaped waffle filled with red
May 15, 2023
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Pulmuone to expand Asian noodle biz in US
South Korean food giant Pulmuone said Sunday it is planning on expanding the production line of its Asian noodle products in the United States by the end of this year, following its burgeoning Asian noodle business there. According to Pulmuone, the company said its sales of Asian noodles in the US were tallied at $72.2 million last year, seeing an on-year growth of 65 percent. Over the course of the last three years, the company's Asian noodle products in the US had seen a 119 percent growt
May 14, 2023
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[KH Explains] Hanwha’s youngest heir targets new biz opportunities
Kim Dong-sun, head of strategic management at Hanwha Galleria and the youngest son of Hanwha Group Chairman Kim Seung-youn, is ramping up efforts to amplify his presence as a succession scheme at the nation’s seventh-largest conglomerate is taking shape centering on the chairman’s three sons. While his elder brothers -- Dong-kwan, president of Hanwha Solutions; and Dong-won, president of Hanwha Life Insurance -- are taking over the group’s key defense and energy and financial b
May 14, 2023
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Coupang quickly catches up to retail giant Shinsegae
South Korean e-commerce firm Coupang is catching up with Shinsegae, one of the country's largest and oldest retail players, by closing the sales gap to less than 10 billion won ($7.5 million) from 1 trillion won a year ago, according to their earnings reports Friday. The 13-year-old e-commerce operator's increasing number of paid subscribers is the main driver behind its improved performance, posing threats to conventional retail brands like Shinsegae. According to Coupang's lates
May 12, 2023
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CJ Logistics to build distribution center in Saudi Arabia
South Korea’s CJ Logistics said Thursday that the company will invest around 60 billion won ($45.4 million) to establish a global distribution center in Saudi Arabia, the Middle East's rising logistics powerhouse. The distribution center will be located in Riyadh’s Special Integrated Logistics Zone, a special economic zone, through which the Saudi Arabian government aims to boost the country’s supply chains. The facility will be built on 18,000 square meters of land within
May 11, 2023
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Starbucks Korea delays free gift event after toxic bag debacle
Starbucks Korea is putting off its summer promotional event for 2023 in order to carry out tougher product inspection in the aftermath of the massive recall of a promotional product that contained toxic, carcinogenic chemicals last year. The seasonal promotional event, called the “e-frequency” reward program, has been taking place biannually in South Korea, offering limited-edition goods to its loyal customers since 2013. The coffee chain typically announces the launch of the summer
May 11, 2023
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Coupang extends winning streak with record earnings
South Korea’s e-commerce giant Coupang said Wednesday it clocked in record quarterly earnings despite a general slowdown in the retail market, continuing its winning streak for three consecutive quarters since turning to black for the first time in 2022. In its first-quarter earnings call, the US-listed company said it logged record quarterly sales of $5.8 billion in the first three months of this year, seeing on-year growth of 13 percent. Operating profits and net income were tallied at $
May 10, 2023
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[Photo News] Burger-making Hanwha heir
Kim Dong-seon, head of strategic management at Hanwha Galleria and the third son of Hanwha Group Chairman Kim Seung-youn, participates in an on-site cooking training session held at a Five Guys store in Hong Kong. Under the leadership of the Hanwha heir, Hanwha Galleria, the retail arm of the nation’s seventh-largest conglomerate, is launching the first Five Guys outlet next month in Gangnam, southern Seoul.
May 9, 2023
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Amorepacific, LG H&H face contrasting outlooks for Q2
Amid the generally sluggish business results of the Korean beauty industry during the first quarter, market analysts provided contrasting second quarter expectations for leading beauty giants LG Household & Health Care and Amorepacific. While the former's prospects appear dim, the latter is expected to rebound with the company's aggressive expansion of sales of its flagship brand Sulwhasoo, said stock market observers Monday. According to financial market tracker FN Guide, LG H&
May 8, 2023