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Korea Ginseng Corp., a leading ginseng product manufacturer, announced Monday that it exported 260 products under its red ginseng brand, JungKwanJang, to nearly 40 countries last year. EveryTime Original stood out as the best-selling product, with sales in China increasing by 44 percent compared to 2023. To meet local consumer needs, KGC diversified its product line to appeal to smaller households and introduced targeted marketing strategies for seasonal events. In Taiwan, the company expanded i
South Korean discount chain Homeplus announced Friday that it would offer holiday gift sets for Seollal at up to 50 percent off for two weeks from Thursday through Jan. 30. Preorders, which began on Dec. 12, drove overall sales growth of more than 20 percent, supported by a 46 percent increase in alcoholic beverages, a 48 percent rise in confectionery and teas, a 24 percent boost in fishery products and a 13 percent increase in fruits. Notably, sales of fruits such as Shine Muscat grapes, kiwis
Lotte Duty Free has announced it will no longer sell its duty-free products to Chinese resellers, despite their significant purchasing power, according to industry sources. The decision, communicated to the resellers late last month, is the first of its kind among Korean duty-free operators and underscores Lotte’s efforts to recover profitability after years of cumulative losses. The resellers, known as “daigou,” first emerged in 2017 after China banned group tours to South Korea in response to
Pyongyang may take cue from growing popularity of South Korean soju overseas For many around the world, soju is a symbol of South Korea's drinking culture. Yet, given its origins predating the division of the Korean Peninsula, this iconic distilled spirit counts another country as one of its original producers today: North Korea. Soon, Russia may see soju from both Koreas sharing shelf space, a close ally of North Korea and a market already penetrated by South Korean liquor companies. According
China remains largest importer, but US, Japan drive up growth Korean beauty products have reached new heights in global markets, with exports surpassing the $10 billion mark for the first time last year. According to the Ministry of Food and Drug Safety on Monday, Korean cosmetics exports reached $10.2 billion last year, a 20.6 percent increase on-year from $8.46 billion in 2023. This milestone comes 12 years after exports first surpassed $1 billion in 2012, showing steady growth despite slowdow
Building on the global success of its Buldak series, Korean food manufacturer Samyang Roundsquare CEO Kim Jung-soo announced "wellness" and "health care" as the group’s new strategic direction. In a New Year’s address released Monday, Kim highlighted key milestones, including becoming the first in the food industry to win the prestigious $7 billion Export Tower Award and achieving 1 trillion won ($750 million) in exports under the Buldak brand. "In 2025, we will not rest on our current achieveme
Spending tightens on concerns of prolonged instability from political turmoil, financial volatility South Korea's consumer sentiment in December saw its steepest decline in four years, weighed down by heightened economic uncertainty amid the fallout from President Yoon Suk Yeol's martial law declaration, a central bank survey showed Tuesday. The composite consumer sentiment index fell to 88.4 in December, down 12.3 points from November's 100.7, according to a Bank of Korea survey. This marks the
South Korean bakery giant SPC Group announced Thursday the opening of its ninth and tenth Paris Baguette franchise stores in Vancouver, marking another step in its Canadian expansion. Following successful debuts in major cities like Toronto and Calgary, the new branches aim to strengthen the brand’s foothold in North America. The Coquitlam location, the first to open, sold approximately 4,500 cakes and pastries on its opening day with nearly a hundred customers queuing. The franchise stores in V
South Korean bakery giant SPC Group announced Friday that its flagship brand Paris Baguette launched a division overseeing the Asia-Pacific, Middle Eastern and African markets. The new division under Paris Baguette's overseas business unit will be in charge of operations in the Middle East, Africa and Oceania, expanding its role beyond existing markets in Southeast Asia. Hana Lee, who previously managed Southeast Asian operations, has been appointed CEO of the newly formed bureau, while Moon Tae
South Korean bakery giant SPC Group announced on Thursday its plan to invest some $160 million to build the group's largest overseas production plant in the United States. The company has selected the city of Burleson in Johnson County, Texas, as the preferred location for the bakery facility and is in the final stages of negotiations with the local government on investment plans and related subsidies. Those discussions over the 150,000-square-meter facility are expected to be finalized by the e
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