Human-free retail is not risk-free

At first glance, South Korea appears to have the right mix for an unmanned retail revolution. The country is known for its swift embrace of technology, widespread adoption of cashless payments, well-developed urban centers and relatively low crime rate. But owners of unmanned shops here say that running an automated store is not as glamorous as it may seem. While the cost and hassle of hiring and retaining human staff are eliminated, new issues arise, ranging from littering and shoplifting, to d

July 18, 2023

Monsoon rain ravages farms, kills livestock

Nearly 30,000 hectares of farmland across the country were damaged by the recent torrential rain, raising concerns that agricultural product prices -- which have recently soared due to a heat wave -- will consequently rise even more. Some 27,094 ha of farmland have been damaged between July 10 and Monday due to record rainfall, according to a report released by the Ministry of Agriculture, Food and Rural Affairs. By region, North Jeolla Province suffered the most damage, with 14,569 ha of land f

July 17, 2023

Korea to stick to previous aspartame regulation, as WHO states limited carcinogenicity

South Korea’s Ministry of Food and Drug Safety said Friday it has decided to allow companies here to retain their existing internal standards for the use of aspartame in foods and beverages, despite the assessment of a WHO agency concluding that the artificial sweetener is "possibly carcinogenic to humans." The International Agency for Research on Cancer announced Friday it has determined aspartame should be reclassified as a Group 2B carcinogen on the basis of limited cancer in

July 14, 2023

Hackers steal W8m from Starbucks app

The official Starbucks Korea mobile application was hacked on Monday, resulting in the theft of approximately 8 million won ($6,300) from the in-app cards of some 90 customers. A recent post from someone on an online forum alleged that unauthorized payments worth a total of 2.8 million won were made in one day via their Starbucks app in 11 separate transactions, both online and in-store. "A payment of 300,000 won was made online from my account linked to the Starbucks app, then an additiona

July 14, 2023

Geraldine Guyot-Arnault, Lee Boo-jin spotted mingling at Seoul launch party

Hotel Shilla CEO Lee Boo-jin, the elder sister of Samsung Electronics Chairman Lee Jae-yong, was spotted meeting with Geraldine Guyot-Arnault, co-founder of French fashion label Destree, in Seoul, Wednesday. Guyot-Arnault, the third daughter-in-law of Bernard Arnault, the CEO of luxury conglomerate LVMH Group, was photographed with Lee at her brand’s launch party. The party was held to celebrate a pop-up store at a Hyundai Department Store branch in southern Seoul, according to her Instagr

July 13, 2023

Nongshim sets vision to achieve $1.5b in sales by 2030

In celebration of his second year in office, Shin Dong-won, chairperson of Korean food giant Nongshim, on Thursday unveiled a vision to post $1.5 billion in global sales by 2030 and become the No. 1 ramen seller in the US amid its soaring performance there. According to the company, Nongshim's plan, which is to triple its annual sales by 2030 from its current $490 million, mainly centers on scaling up its US business. For the achievement of its goal, Shin said Nongshim will review plans to

July 13, 2023

Starbucks to roll out 'trenta' size drinks in Korea

Starbucks Korea will release a limited edition of three popular beverages in a size called "trenta" that is almost 1 liter starting from July 20 to Sept. 30, to commemorate its 24th anniversary of opening in the country. The trenta size will be available as to-go only at select locations, and offered as an option for three popular Starbucks beverages: Cold Brew, Iced Grapefruit Honey Black Tea, and Strawberry Acai Starbucks Refreshers Beverage. The trenta size is currently only availab

July 12, 2023

Pressure mounts on milk producers to cut prices

The Ministry of Agriculture, Food and Rural Affairs recently met with South Korean dairy companies in a bid to increase the pressure on them to minimize price hikes for milk, according to Food Ministry Wednesday. According to a Food Ministry spokesperson, the Food Ministry asked Korean dairy companies during a closed-door meeting to minimize price hikes for milk that are expected to take place amid a forthcoming surge in the price of raw milk. Currently, Korea Dairy Committee, a private organiza

July 12, 2023

Bacardi Korea teams up with Daytona Entertainment for summer campaign

Bacardi Korea, the leading rum brand in South Korea, will be launching its "Do What Moves You" (DWMY) campaign in collaboration with artists Toil and Skinny Brown from record label Daytona Entertainment. Marking the third DWMY campaign in Korea, this year’s campaign is targeted at the younger MZ audience -- an acronym for millennial and Generation Z -- who strive to express themselves confidently and unapologetically without being swayed by others' opinions. The campaign wil

July 12, 2023

NHN Commerce acquires Italian luxury fashion retailer

NHN Commerce, the retail unit of South Korean information technology company NHN Corp., said Tuesday it acquired a controlling stake in Italian luxury fashion brand retailer Ikonic, in a bid to further extend its reach into the global stage. NHN Commerce now holds a 77.8 percent stake in Ikonic -- an Italian multi-brand fashion platform retailing over 250 brands in the global market. Terms of the deal were not disclosed. Ikonic's annual sales stands at some 100 billion won ($77 million) in

July 11, 2023

Bottled water prices hit 11-year high

South Korea's price growth rate for bottled water recorded its highest level in 11 years following a series of price hikes in the industry, according to data Monday. According to Statistics Korea, the consumer price index of bottled water stood at 112.09, a 10.8 percent on-month increase. The nation's growth in the CPI of bottled water recorded its highest rate since June 2012, when it rose by 11.6 percent. The price rise comes as the nation's biggest bottled water manufacturers h

July 10, 2023

Jinro named 2023 Supreme Brand Champion by British spirits publication

Jinro, one of the most popular Korean soju brands, has been named this year's Supreme Brand Champion by a British magazine, Jinro's maker said Thursday. Jinro won the accolade in the annual report issued by The Spirits Business, according to HiteJinro Co. This is the first time Jinro has won the supreme title. Jinro was named the local spirits brand champion in 2018 and 2021. Jinro brand includes plain soju products -- Chamisul and Jinro -- as well as flavored soju products. HiteJinro

July 6, 2023

Marking 35th birthday, McDonald's Korea unveils new menu, outlet expansion

McDonald's Korea on Wednesday unveiled its vision to operate a total of 500 McDonald's outlets in the country by 2030 and release an exclusive menu in the Korean market, in celebration of its 35th anniversary. "During the first half of this year, the (firm's) sales rose about 10 percent on-year to some 623 billion won ($479 million), logging its largest (semi-annual) sales since the brand's entry into Korea," McDonald's Korea CEO Kim Ki-won said during a press

July 5, 2023

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