Coupang’s one-day luxury delivery service rebrands as R.LUX

South Korean e-commerce giant Coupang said Wednesday that it has rebranded its one-day delivery service for premium beauty products as R.LUX, introducing a dedicated app to enhance user experience. Initially launched as Rocket Luxury in July 2023 as part of Coupang’s strategy to expand into the premium beauty market, the service was rebranded as R.LUX to elevate the shopping experience and create a stronger, more distinctive identity, the company said. The platform offers improved featur

Oct. 2, 2024

Smoothie King to end business in Korea

Smoothie King is set to fully withdraw from South Korea over the course of the next year. Smoothie King Korea, which operates the brand here, reportedly sent guides to close the shops by October 2025 on Friday. The company failed to extend the licensing contract with the Smoothie King headquarters in the US, and the US franchise requested to end the contract, a Smoothie King Korea official told local media. The brand first opened a location in Myeong-dong in central Seoul in 2003. It reached a p

Sept. 23, 2024

Cabbage prices soar 70% amid heat wave

Vegetable prices in South Korea have surged amid an unprecedented heat wave that has gripped the country for weeks, with the price of napa cabbage rising nearly 70 percent compared to last year. The price of a head of cabbage, the main ingredient for kimchi, retailed at 9,337 won ($7.02) on Thursday, according to the Korea Agro-Fisheries & Food Trade Corp. This marks a 69.5 percent jump compared to the same time last year and a 32.7 percent increase over the three-year average price. Continu

Sept. 20, 2024

Exports of instant noodles surpass $800m in Jan.-Aug.

South Korea's exports of instant noodles, also known as ramyeon, were estimated to have reached $800 million in the first eight months of this year, data showed Wednesday. The figure represents a 31.7 percent hike from the January-August period of last year, according to data compiled by the Ministry of Agriculture, Food and Rural Affairs. By country, outbound shipments to China grew 26.9 percent on-year to $160 million and exports to the United States jumped 61.5 percent to $140 million, m

Sept. 18, 2024

Only 12 pct of unsafe food imports taken off market for disposal: report

Only about 12 percent of food imports determined to be unsafe have actually been taken off the market, a lawmaker said Sunday, citing related government data. According to the data from the Ministry of Food and Drug Safety, an average of 12.5 percent of 141 import food items that had been ordered to be recalled since 2022 have actually been removed from the local market. Rep. Seo Mi-hwa of the main opposition Democratic Party said some of the recalled food items had a collection rate of over 80

Sept. 15, 2024

Over half of Koreans plan to spend same on Chuseok gifts as last year: KCCI survey

Most South Koreans showed positive sentiments about spending more on Chuseok gifts this year, despite the ongoing inflation and economic challenges, a recent survey found. According to the survey conducted by the Korea Chamber of Commerce and Industry, the nation’s largest business lobby, more than half of respondents, or 56.2 percent, planned to spend a similar amount on Chuseok gifts as they did last year, while 29.1 percent said they would increase their spending. The survey polled 1,00

Sept. 14, 2024

Pulmuone launches frozen gimbap in China

South Korean food giant Pulmuone said Thursday that it has become the first Korean food company to introduce frozen gimbap into the Chinese market by selling its products at a leading retailer there. Pulmuone’s Tuna Kimbap, sold in packs of three rolls, is now available at Sam's Club, which operates 49 stores in China. A full 136,000 units will be exported to China by September, with plans to export a total of 620,000 units annually, the company said. The product packaging brandishes

Sept. 12, 2024

Franchises account for 70% of Korean chicken eateries: data

Crispy, double-fried, and an inseparable companion to cold beer, fried chicken is South Korea's beloved go-to snack for everything from sports viewing to late-night hangouts. But the country's $5.7 billion fried chicken industry, the world's third largest behind the United States and China, is showing signs of market saturation with a growing franchise dominance. Recent data from the Korea Fair Trade Commission and Statistics Korea paint a picture of a sector in flux as major fran

Aug. 26, 2024

Korean export delegation visits Vietnam to enhance agricultural trade

A South Korean export delegation arrived in Vietnam on Monday for a weeklong trip aimed at promoting high-quality Korean agricultural products and facilitating their entry into the Vietnamese market. Led by officials from the Ministry of Agriculture, Food and Rural Affairs, the delegation includes a diverse range of exporters, such as manufacturers of fertilizers, eco-friendly agricultural chemicals, agricultural equipment, animal feed and machinery. Since 2018, the ministry has consistently s

Aug. 26, 2024

Interpark Commerce seeks debt restructuring following TMON, WeMakePrice

Interpark Commerce filed for a debt restructuring program with the Seoul Bankruptcy Court on Friday, following in the footsteps of two sister e-commerce giants amid a liquidity crisis. The company's request for an autonomous restructuring support (ARS) program came 18 days after TMON and WeMakePrice filed for the same program to negotiate with creditors for rescheduling overdue payments. With Friday's decision, all three Korean e-commerce companies under Qoo10 are now subject to the co

Aug. 16, 2024

South Korea opens export of heat-treated chicken products to Britain

The government announced Tuesday the opening of exports for heat-treated chicken products, including frozen chicken, dumplings and the ginseng chicken soup known as samgyetang to Britain. This strategic initiative marks a pivotal entry into the British market following the successful negotiation of an export sanitary and quarantine agreement for such products with the European Union (EU) in December of the previous year. Bolstered by a robust strategic partnership established during the South Ko

Aug. 14, 2024

Ottogi rebrands as Otoki to enhance global reach

South Korean food giant Ottogi said Friday it will change its English name to Otoki to make the brand more recognizable to international consumers. "We decided to pursue this rebranding to clarify the company's identity for global consumers while introducing a modernized symbol that feels more approachable. This will resolve confusion surrounding the pronunciation of our English name," said a company official. As a part of the rebranding initiative, its mascot received a face-lift

Aug. 9, 2024

Overseas-based fashion brands flock to Korea

South Korea's fashion scene is drawing increased interest from well-known global brands, particularly those targeting young women. Several overseas-based labels, such as Alo Yoga, On, Brandy Melville and Human Made, are slated to enter Korea's market. These brands have already garnered a loyal following among young Koreans, who previously relied on overseas purchases to access them. This influx is driven by a confluence of factors. A key driver is the perception that Korean celebriti

July 19, 2024