Retailers see sales boost under nationwide K-Sale promotion

The retail industry is seeing sales recover, owing to the ongoing nationwide discount promotional event to revitalize the domestic economy, which has been suffering dampened consumer sentiment amid the COVID-19 outbreak. Major retailers saw sales grow during the first weekend of the government-led K-Sale period, locally dubbed “Donghaeng,” which kicked off Friday. According to Lotte Shopping, the retail arm of Lotte Group, sales of Lotte Department Store rose 21 percent from Fri

June 28, 2020

Duty-free sales rebound in May amid virus outbreak

South Korean duty-free stores saw their sales rebound slightly in May after dipping below the 1 trillion-won ($804 million) mark in April amid the new coronavirus pandemic, industry data showed Sunday. Combined sales of local duty-free shops rose 3 percent on-month to reach 1.02 trillion won, rebounding from 986.7 billion won in April, according to the data from the Korea Duty Free Shops Association. The number of visitors to duty-free outlets came to some 466,000 last month, up from 354,000

June 28, 2020

Guinness World Records accredits Paris Baguette for roll cake

South Korea’s SPC Group, which operates bakery franchise Paris Baguette, said it has bagged a Guinness World Records certification for its bestselling roll cake brand. Paris Baguette’s sales of Silky Roll Cake topped 12.49 million from January 2015 to December 2019 in five countries -- Korea, China, the US, Singapore and Vietnam. It is the largest number of roll cakes to be sold and hence got the honor, the company said. When converted to distance, it is 3,000 kilometers when con

June 25, 2020

Coupang opens recruitment for 200 tech positions

Korean e-commerce giant Coupang said it is recruiting about 200 tech talents, starting from Wednesday. The positions include software developers, product owners, product designers and more, with over five years of experience in their respective fields, Coupang said. For those hired in this recruitment, Coupang said it will also offer a signing bonus, starting from 50 million won ($41,600) upon joining the company. Coupang has tech development offices in the Silicon Valley in California as

June 25, 2020

Samyang Foods rolls out Buldak character goods

Samyang Foods said Wednesday that it is rolling out various character goods to promote its Buldak Spicy Chicken noodle character Hochi. According to the company, it recently launched a Hochi emoticon for the mobile messenger service Line, for users in both South Korea and Japan. The emoticon is designed to encapsulate 40 expressions frequently used on the mobile chat app, represented by Hochi. The company, which makes the globally popular Buldak Spicy Chicken noodles, said it also launched

June 24, 2020

Nongshim’s shrimp crackers ride on Rain’s ‘Gang’ meme, sales up 30%

The unplanned popularity of K-pop singer Rain’s music video “Gang” has led to a surprising side benefit for Nongshim, towing the sales of its steady-selling shrimp cracker by 30 percent, the company said Wednesday. According to the South Korean food firm, it saw the sales of its shrimp crackers jump to a record 7 billion won ($5.83 million), up by 30 percent, from May 23 to Tuesday compared to a year earlier. K-pop star Rain’s “Gang,” which is from his min

June 24, 2020

Coupang vows to sterilize millions of Rocket Delivery orders

Coupang, an e-commerce giant, said Tuesday it will reinforce hygiene measures to cleanse and sterilize millions of products ordered through its Rocket Delivery. Before the products are delivered to customers, the delivery worker will use a portable disinfectant to sterilize the product. The disinfectant is approved by the food and drug administrations of both Korea and the US, the company said. To allow the customers to double check, Coupang said it developed an alert system to notify the d

June 23, 2020

Lotte, Shilla begin domestic sales of duty-free goods this week

South Korea's two leading duty-free operators started to sell duty-free products through local retail channels Tuesday, as the government has decided to temporarily permit such sales to help the pandemic-hit sector. Industry leader Lotte Duty started to release duty-free items, including about foreign luxury brands, worth 10 billion won ($8.3 million), on its integrated online shopping mall. No. 2 player Shilla Duty Free plans to sell duty-free products via its new online sales platform start

June 23, 2020

SPC GFS cooperates with small companies to export kimchi, laver to Poland

SPC Global Food Service, the food distribution affiliate of SPC Samlip, said Monday that it is exporting to Poland a number of canned kimchi and laver products it developed with small food manufacturers. According to the company, it is launching the canned kimchi and dried laver it developed jointly with BosungilukjoKorea and Jinheon Food at Poland’s largest supermarket chain, Biedronka. They will be available at all 2,800 stores in July. The canned kimchi was designed to offer conven

June 22, 2020

Duty-free stores offer huge discounts on luxury goods

Duty-free stores are planning to offer huge discounts, including on luxury items, next week to clear out their inventory, following lackluster sales due to the COVID-19 pandemic. Shilla Duty Free said Friday it will start selling duty-free products next week on its platform Shilla Trip, which was launched last year. While duty-free products are usually banned from domestic sales, Korea Customs Service has temporarily allowed sales of the goods that have been in stock for more than six months

June 19, 2020

Lotte, Shilla to begin domestic sales of duty-free products next week

South Korea's two leading duty-free operators will begin to sell duty-free products through local retail channels next week as the government has decided to temporarily permit such sales to help the pandemic-hit sector, company officials said Friday. Industry leader Lotte Duty Free and its rival, Shilla Duty Free, plan to release duty-free items at its local retail channels and via an online sales platform, respectively, next week. The customs office decided in late April to permit domestic s

June 19, 2020

Retail giants' Q2 profits tipped to more than halve over pandemic: poll

South Korea's major retailers are expected to see their operating profits more than halve in the second quarter amid the new coronavirus pandemic, a poll showed Thursday. The combined operating profits of Lotte Shopping Co., Shinsegae Inc., E-Mart Inc. and Hyundai Department Store Co. are estimated to be 60.3 billion won ($50 million) in the April-June period, compared with 180.4 billion won a year earlier, according to the survey by Yonhap Infomax, the financial news arm of Yonhap News Agency

June 18, 2020

Coupang ranks 2nd in CNBC Disruptor 50

South Korean e-commerce giant Coupang said Tuesday it ranked second in the eighth edition of the CNBC Disruptor 50 list from among 1,355 nominees worldwide. The list of 50 private companies with the potential of becoming the “next generation of billion-dollar businesses” is released by the US broadcaster annually. Coupang said it was the first Korean company to be included in the list. According to CNBC’s description, the 2020 CNBC Disruptors are “50 private companie

June 17, 2020

Starbucks Korea opens renewed Hwangudan Store in Seoul

Starbucks Korea said Tuesday it is set to open its renovated Hwangudan Store in Seoul, upping its efforts to safeguard the domestic cultural heritage. According to the coffee chain, it has revamped the existing Sogongdong Store in Jung-gu to reflect the designs of Hwangudan -- a site for performance of the rite of heaven, designated as South Korea’s Historic Site No. 157 in 1967. Starbucks Korea held the opening ceremony of the store with the Cultural Heritage Administration and Nation

June 17, 2020

Aekyung launches flagship cosmetics brand Age 20’s on Amazon

Aekyung Industrial said Monday it has launched its flagship cosmetics brand Age 20’s on Amazon, entering the US market for the first time. The cosmetics company said it will present the makeup products of Age 20’s, including the Essence Cover Pact, primers and tone-up boosters, all approved by the US Food and Drug Administration. Aekyung said launching the products on Amazon is expected to help raise the brand’s awareness in the US and global markets. The South Korean firm

June 15, 2020

HiteJinro Beverage launches Black Bori barley tea in US

HiteJinro Beverage, the beverage arm of HiteJinro, said Monday that it is launching Black Bori, its barley tea product, in one of the largest retailers in the US.  The company said it exported the first 260,000 bottles of Black Bori on May 30, and has completed the clearance procedure. It is the first time any South Korean beverage company has joined hands with a major retailer in the US, the company said. The company said the export deal was possible because the barley tea is

June 15, 2020

SPC Samlip launches home deli brand YAAM! with Coupang

Korean food company SPC Samlip said Monday it has launched the home deli brand YAAM! with Coupang, an e-commerce giant here. Under the new brand, the company said it is presenting 17 products, including bread, salad and soup items to go up against home meal replacements. The new brand is available only via online retailers. SPC Samlip said it has partnered with Coupang to target the growing food delivery market, and that they selected items that encompass wider choices of Western food, as

June 15, 2020

SPC Group plans Paris Baguette debut in Canada

SPC Group, the operator of Korea’s leading bakery franchise Paris Baguette, said Sunday it will enter Canada by launching the flagship Paris Baguette brand next year. According to the company, it recently established Paris Baguette Family Canada Licensing with a plan to open the first stores in major cities in the country, including Vancouver and Toronto in the first half of next year. The move comes as part of its plan to expand its business in North America. SPC Group has had laid o

June 14, 2020

HiteJinro to export Jinro soju to 7 countries

South Korean liquor maker HiteJinro said Wednesday it will start exporting its hit soju brand Jinro Is Back to seven countries, marking the first anniversary of its release. According to the company, it will export 1.3 million bottles of Jinro in the first batch to Japan, China, the US, the UK, Canada, New Zealand and Singapore. “We decided to export (Jinro) to mark the first anniversary, as there have been consistent demands for exports from the global markets, especially centering on

June 10, 2020

McDonald’s Korea posts 9% growth despite pandemic

McDonald’s Korea said Wednesday that despite the COVID-19 pandemic it posted sales growth of 9 percent from January to April on-year, thanks to its Best Burger initiative. The announcement was made by Managing Director Antoni Martinez, who was appointed to the position in February, in his first public message via a video on its official YouTube channel, titled “Invitation to Best Burger: Antoni Martinez’s Message.” Unable to hold a physical press conference due to th

June 10, 2020