Food and beverage products that are traditionally considered to be low-cost choices when eating out have seen a price spike in the second quarter of this year, according to Statistics Korea.The largest increase was in the price of soju, which leaped 12.5 percent relative to last year. This is the second consecutive quarter in which soju has seen the biggest on-year price jump.Other popular foods when eating out such as gimbap and ramen have also risen significantly. Gimbap prices rose 5.2 percen

Industry July 6, 2016

TV shopping company Lotte Home Shopping, which is currently under investigation for bribery, spent nearly 3.3 billion won ($2.83 million) on lobbying fees last year, according to a corporate information tracking website.According to Chaebul.com, that was the largest sum spent on lobbying by the company since 2008, surpassing the 2.9 billion won spent in 2014 when the company was preparing to receive an extension on its home shopping license. Prosecutors move seized documents from Lotte Home Shop

Industry July 6, 2016

Coway, which rents out household products, has reportedly kept consumers in the dark for an entire year regarding nickel found in its ice makers, causing outrage and fears about health risks. On Monday, Coway posted an official apology on its website regarding the controversy. The statement said that the company had found that if the nickel coating on its products’ tubes had worn off, nickel might have been mixed with the ice and water produced. “(Nickel has been found in) some of the ice makers

Industry July 5, 2016

Prosecutors on Monday requested an arrest warrant for Shin Young-ja, the sister of Lotte Group chairman Shin Dong-bin on charges of bribery and embezzlement.Shin Young-ja is accused of embezzling money from a luxury consulting company owned by her son and naming her daughters as executives at the company to receive salaries. She is also suspected of taking kickbacks totaling approximately 3 billion won ($2.6 million) from cosmetics company Nature Republic in exchange for granting favors regardin

Industry July 4, 2016

GAS PRICES SLIP -- Drivers fill up on gas at a gas station in Gwanak-gu, Seoul on Sunday. International oil prices fell slightly as the dollar grew stronger after the Brexit vote, but domestic gas prices are holding relatively steady. (Yonhap)

Industry July 3, 2016

Lotte Group chairman Shin Dong-bin returns to Korea via Gimpo International Airport Sunday. (Yonhap)Lotte Group chairman Shin Dong-bin returned to Korea on Sunday afternoon after nearly a month away from the country, sparking questions about how he will handle the current investigation into the group.Shin, who landed at Gimpo International Airport at 2:38 p.m., was largely silent when questioned by reporters on his stance on prosecutors’ ongoing embezzlement investigation.Shin said only that he

Industry July 3, 2016

LG Life Science‘s premium health supplement brand Re:Tune has released a new probiotic supplement optimized for improving intestinal health and immunity, the company said Sunday.Probiotics Dual Premium utilizes a patented probiotic strain called DDS-1 produced by the American UAS Labs, and contains 50 billion lactic acid bacteria -- providing the maximum amount of probiotics recommended by the Ministry of Food and Drug Safety. http://theinvestor.koreaherald.com/companies_detail.php?q=LGLS(068870

Industry July 3, 2016

Korea’s hot and humid summer weather makes keeping food fresh a challenge during the summer, and beverage brands are lining the shelves with specially packaged products to put health-conscious consumers at ease.Focusing on popular natural beverages like fruit juices and dairy, the packages are specially designed to keep heat and moisture out even when the products are kept at room temperature.Beverages using aseptic packaging. Clockwise from top left: Dole’s 100% Ice Juice Bar, Del Monte’s Farme

Industry July 3, 2016

Whether Lotte founder Shin Kyuk-ho has dementia has become a hot button in the Lotte drama that involves his two sons fighting over who should succeed him in the 90-trillion won conglomerate. A source from Shin Dong-joo’s side -- the older brother ousted from the Lotte helm by his younger brother -- revealed to the media earlier this week that the 92-year-old father had been taking medicine for dementia since 2010. It was the first time in the Lotte Group’s prolonged family feud that the older b

Industry June 30, 2016

Organica Day, the food and juice arm of the premium natural food brand Organica, will be featuring its juices in all 890 Starbucks stores in Korea, the company said Wednesday.The Organica products available at Starbucks include Just Juice Cleanse juices, the Bistro Box and Cleanse Salads.  Organica’s Just Juice Cleanse juices, available at Starbucks (Organica)The three types of Just Juice Cleanse juices were first offered through a limited release at 100 Starbucks stores last October. Starbucks

Industry June 29, 2016

Prosecutors raided the office of a high-ranking official of the Lotte Foundation in Seoul Tuesday as part of their bribery investigation into the foundation‘s chairperson Shin Young-ja.Through the raid, prosecutors were able to seize computer hard drives and documents from the foundation at the Lotte building in Seoul. The raid was limited to the office of a high-ranking foundation executive, who is known to be a close adviser to Shin. Shin, the eldest daughter of Lotte Group founder Shin Kyuk-h

Industry June 28, 2016

Instant coffee-maker Maxim has launched the second season of its “Travel with Maxim” campaign, focusing on finding respite in the chaos of daily life with a cup of Maxim coffee.The two new TV spots created for the campaign feature Maxim’s Kanu model Gong Yoo enjoying Maxim coffee while enjoying the natural scenery of New Zealand. In the “Office” version, Gong Yoo is drinking coffee on a cliff while listening to the sound of crashing waves; in the “Home” version, he listens to the breeze while dr

Industry June 28, 2016

Elensilia’s snail cream has been named the top-selling skin care product on a home shopping network for six consecutive years, according to the cosmetics-maker.First launched in September 2009, the skin care cream containing snail extract has maintained its place on top of the skin care rankings at NS Home Shopping. It has recorded over 250,000 returning customers on that channel alone.Spokesmodel Park Ji-yoon with Elensilia’s snail extract cream (Elensilia)The cream contains 80 percent glycosam

Industry June 28, 2016

Kumho Asiana Group chairman Park Sam-koo was awarded a high-level decoration from the French government Monday for his contributions to bilateral exchanges between Korea and France, and to the aviation industry in both countries.Park received the Legion of Honor (Legion d’honneur) from French Ambassador to Korea Fabien Penone at Penone’s residence in Seodaemun-gu, central Seoul.  Kumho Asiana Group chairman Park Sam-koo (right) receives the Legion of Honor from French Ambassador to Korea Fabien

Industry June 28, 2016