[Newsmaker] Can yogurt fight COVID-19? Namyang Dairy under fire for false claims

Namyang Dairy Products, a major dairy producer here, has come under fire for claiming its yogurt drink prevents COVID-19. At a symposium hosted by the Korea Research & Institute of Bio Medical Science on Tuesday, the head of Namyang Dairy’s internal research institute presented the results of its research on Bulgaris, the firm’s yogurt drink. “We’re the first firm in the country that has discovered fermented dairy products are effective in preventing influenza and

April 15, 2021

BTS represents Korean beer Kloud

K-pop juggernaut boy band BTS is the new face of Korean beer brand Kloud, Lotte Chilsung Beverage said Thursday. The South Korean maker of liquor, soft drinks and tea has signed a modeling contract with the septet – RM, Suga, J-Hope, Jin, Jimin, V and Jungkook -- with financials of the deal undisclosed. The first commercial featuring the group will be unveiled Friday, the firm said. The signing of BTS signals a new marketing war among the three major beer makers in Korea – Orient

April 15, 2021

BHC Chicken achieves W400b sales in 2020

BHC Co. logged 400.4 billion won ($358 million) in sales in 2020, up 26 percent from the year earlier, placing the company as the No. 2 South Korean fried chicken franchise, the franchise operator said Wednesday. According to BHC Co., which runs the BHC Chicken brand, the company’s operating profit also grew by 33 percent on-year to record 130 billion won in 2020. It is the first time the fried chicken franchise recorded sales surpassing the 400 billion mark, the company said. Among t

April 14, 2021

Black Yak launches free hiking shoes rental service for foreigners

Black Yak is launching a rental service providing free hiking shoes for foreigners as part of its “Together Mountain” campaign, in partnership with the Gangbuk-gu Office in Seoul, the Korean outdoor clothing brand said Tuesday. On Tuesday, Black Yak Chairman and Chief Executive Officer Kang Tae-sun and Gangbuk-gu Council Chairman Park Gyeom-su held the opening ceremony of the rental shop, located inside the Black Yak Ui-dong branch near Bukhansan Ui Station on the Ui-Sinseol Line.

April 13, 2021

Coupang senior job openings in Singapore spark speculation of foray into Southeast Asia

South Korean e-commerce giant Coupang is hiring a small number of employees for senior positions in Singapore, a move that has been seen as part of steps to branch out into the Southeast Asian market. The company recently posted several job openings on global recruiting site Linkedin for its office in Singapore including head of retail, head of logistics and head of operations. It is also hiring a senior front-end engineer for its video streaming platform Coupang Play. A Coupang representati

April 13, 2021

First CU store in Malaysia hits jackpot with Korean products

The first Malaysian outlet of CU, the South Korean convenience store chain, has seen more than 11,000 customers in just 10 days since opening, the company said Tuesday. According to BGF Retail, the firm behind the CU chain, an average of 1,000 people have visited the store in Kuala Lumpur daily since it opened on April 1. That is about three times the average number of visitors of CU stores in South Korea, the company added. A typical CU store here is open for 24 hours. But the Malaysian st

April 13, 2021

Ginseng improves flu vaccine effectiveness in mice: research

Ginseng can help boost the effectiveness of flu vaccines used on mice, and is also helpful in protecting respiratory organs, Korea Ginseng Corp.’s research institute said Monday. According to a study by KGC’s Korea Ginseng Research Institute, ginseng intake increases the protective effect of vaccines compared to when the vaccine is used alone. The Korean ginseng company also cited research dubbed, “Protective Effect of Korean Red Ginseng Extract on the Infections by H1N1 a

April 12, 2021

[News Focus] Coupang, E-mart, Market Kurly join race to offer cheapest price as competition grows

Major e-commerce giants in South Korea are offering the cheapest prices and free delivery to keep an edge over their rivals, as competition grows amid the pandemic-fueled online shopping boom. E-commerce grocer Market Kurly was the latest to ramp up competition on Monday as it announced its “Every Day Low Price” -- a lowest-price guarantee program for some 60 food products. The new measure will see the platform offer products such as rice, instant noodles, fresh vegetables and fru

April 12, 2021

Kakao in talks to acquire fashion shopping app Zigzag: report

Kakao, the South Korean tech giant behind popular messaging app KakaoTalk, is taking steps to acquire mobile shopping app Zigzag, according to local reports Friday. The reported deal could see Kakao buy a controlling stake in the operator of the shopping app -- estimated to be worth about $1 billion -- and create a new subsidiary for a merger. Kakao, however, has not yet confirmed the move, saying it is taking into account “a range of options.”　 The reports came after Kakao, once

April 9, 2021

[Newsmaker] Innisfree forced to clarify ‘paper bottle’ packaging after customer discovers plastic bottle inside

Innisfree, a cosmetic brand under Amorepacific, has been forced to clarify its eco-friendly “paper bottle” packaging after a customer’s complaint about plastic usage and a “misleading” label went viral online. In a post on a Facebook group called “No Plastic Shopping,” a customer shared photos of what is inside the package for the brand’s face serum product after cutting the bottle in half. Despite the label reading “Hello, I‘m Paper

April 8, 2021

Dior’s revenue in Korea jumps more than twofold despite pandemic

French luxury fashion house Christian Dior racked up 104.7 billion won ($93.2 million) in operating profit last year despite the coronavirus pandemic, according to data from the Financial Supervisory Service. Christian Dior Couture Korea, the operator of the brand’s South Korean unit which produces clothes, bags and makeup products, also saw its revenue rise 75.8 percent to 328.5 billion won, while its net profit jumped by 250 percent to 77.7 billion won. The figures buck the trend seen

April 7, 2021

Starbucks Korea to do away with single-use cups by 2025

Starbucks Korea has vowed to stop the use of disposable cups by 2025. As part of its long-term sustainability “Better Together” project, the coffeehouse chain said Tuesday it will roll out reusable cups at all stores across the country and replace single-use cups completely in the next four years. The new eco-friendly cups will be rolled out first at a select few shops during the second half of this year. The reusable cups come with a deposit that will be returned to customers when

April 6, 2021

Department stores mark highest sales jump in 25 years

Sales at department stores increased 34 percent year-on-year in February in the biggest jump in 25 years since 1996, the latest data from Statistics Korea showed Monday. The retail sales index, which is designed to reflect consumption trends, appears to have recovered to near pre-pandemic levels during February, as it stood at 115.2 after adjustments for seasonal factors. The figure stood at 116.2 in December 2019. The first case of coronavirus was detected in Korea the following month. Februa

April 5, 2021

[Weekender] New era opens for frozen mandu

Dumplings have long been one of the popular staples Koreans have in their daily meals. Served steamed, fried or boiled, the dish, called mandu here, would make for a good snack, or a tasty and filling meal. Yet there was also nothing spectacular about the humble dish of chopped meat, seafood or vegetables wrapped in dough. That is until food companies began to rediscover the potential of frozen mandu, propelling it into a new heyday with growing global recognition. According to data from Ni

April 3, 2021

[Herald Interview] Brewery serves up sparkling makgeolli in blend of tradition and modernity

Makgeolli, a centuries-old traditional Korean rice wine, is enjoying its new life as a trendy and premium drink as of late. Easily found at convenience stores and casual dining restaurants in Korea, it was once thought to be an “old man’s drink” over its affordability and stereotypes surrounding it. But one man’s journey to revolutionize makgeolli and give it a more youthful and upscale makeover seems to have paid off in triggering a trend in recent year. The Korea Agro

April 1, 2021

Convenience store chain CU opens 1st outlet in Malaysia

CU has opened its first outlet in Malaysia as part of its overseas push, the operator of South Korea's top convenience store chain said Thursday. The 165-square-meter outlet started operations at a shopping mall in a middle-class neighborhood in the Malaysian capital of Kuala Lumpur, according to BGF Retail Co. South Korean goods account for 60 percent of all products it carries. The store also sells CU's popular private-label products and such "Korean street foods" as "tteokbok

April 1, 2021

Coway wins global nod for ESG, corporate transparency

Coway, a South Korean home appliances rental firm, has been honored at this year’s Business Integrity Society summit for its continuous commitment to a framework for environmental, social and governance, or ESG, standards as well as corporate transparency, the company said Tuesday. It was chosen as an “Excellent Anti-Corruption Company” at the BIS Summit 2021 Anti-Corruption Awards held last week by the UN Global Compact and the Korea Social Responsible Investment Forum. &l

March 30, 2021

Fila stays silent after Chinese unit vows to continue using Xinjiang cotton

Fila Korea is staying silent on the ongoing controversy surrounding Xinjiang cotton after its Chinese unit vowed to continue using the fabric. When asked about Fila China’s statement on Chinese social media platform Weibo last week confirming its support for Xinjiang cotton, a representative of the company acknowledged the existence of backlash but refused to comment. In a statement on Weibo last week, FILA China said it “has always purchased and used cotton produced in China inclu

March 30, 2021

Family, business community mourn late Nongshim Group chairman

Local business leaders and mourners paid tribute on Sunday to the founder of Nongshim Group, Shin Choon-ho, who died of chronic illness on Saturday at the age of 92. Shin led the country’s major food conglomerate and leading instant noodle producer for 56 years. The late chairman was born in Ulsan in 1930 and was the younger brother of the late Shin Kyuk-ho, who founded South Korean retail conglomerate Lotte Group. At the funeral altar at Seoul National University Hospital on Sunday

March 28, 2021

Shinsegae Department Store’s fruit subscription service proves popular

Shinsegae Department Store’s fruit subscription service is enjoying a surge in popularity as the number of subscribers jumped threefold in 10 months. The service, which began at the retailer‘s Gangnam branch, will be extended to its main store in Myeongdong, the department store said. Those subscribing to the service for a monthly fee of 220,000 won ($194) can have a selection of seasonal fruits worth 260,000 won delivered to their doorstep on a weekly basis. Tips on how to pick,

March 25, 2021