South Korea's alcoholic beverage industry has been embracing quickly changing trend cycles -- from wine to whiskey cocktails and cognac -- with rising demand from young consumers to try new types of drinks. The next type of alcohol that is expected to boom here is tequila, according to industry sources. According to Samjeong KPMG’s report, South Korea’s wine consumption decreased significantly last year. The value of wine imports dropped 9.6 percent from $560 million in 2021 to

South Koreans' meat consumption exceeded rice intakes for a second consecutive year, a report showed Saturday. According to the report by the state-run Korea Rural Economic Institute, the country's per-capita meat consumption was estimated at 60.6 kilograms last year, up 1.3 percent from the previous year's 59.8 kg. Last year's meat consumption was higher than per-capita rice intake of 56.4 kg, according to the report. The report said the meat consumption will rise to 61.4 kg

Korea Ginseng Corp., the country’s leading ginseng product manufacturer, said on Thursday it has made a foray into the US market by unveiling its vegan skincare brand, Lab 1899. As the global leader in vegan product consumption, the US market commands a 35 percent share of the worldwide vegan population. The popularity of vegan products has been extending from dedicated vegans to non-vegan consumers as well. In response to this surging demand, Lab 1899 has introduced the Red Ginseng Peptid

March 3, also known as "Samgyeopsal Day" in Korea, is approaching, with anticipation building for promotional events planned by local supermarkets. Most supermarkets and e-commerce platforms will offer discounts ranging from 40 to 50 percent on pork belly from Feb. 29 to March 3. But there is a complication: This year is the first Samgyeopsal Day following the implementation of government guidelines on excessive fat content in pork belly. Last year, criticism arose over local stores&

Starbucks Korea on Tuesday said more than 400 employees have successfully attained their bachelor's degrees through a tuition assistance program in collaboration with Hanyang Cyber University. In the fall of 2016, Starbucks Korea signed a partnership with Hanyang Cyber University, under which the specialty coffee chain pledged to cover the tuition fees for employees pursuing their first bachelor's degree. Employees are given the freedom to choose their majors independent of their work

Nongshim, the nation’s leading food maker, said Monday that its new meoktae-flavored products are becoming big sellers, building on the huge success of Meoktaekkang launched last year. Meoktae is an Alaska pollack that has been processed through freezing and drying and it is favored as a side dish for beer or soju here. Nongshim first launched the fish-flavored salty snack, Meoktaekkang, which became an immediate success selling 15 million bags since its debut in June last year. Buoyed by

South Korean whiskey providers are searching for new import markets like those in Taiwan, India, Spain and Australia, as consumers here crave new varieties at reasonable prices. “Local demands for affordable whiskey products are increasing with the surge of people consuming highball cocktails. Yet, whiskey products from major whiskey producers such as the UK, the US and Japan are expensive and less available to local consumers,” an industry source said. “Whiskey products from A

A better-than-expected inflation report for January bolstered hopes that price hikes is near its end -- but consumers are still wary as the cost for some food items for Lunar New Year ceremonies continues to soar. “I have visited two different discount stores and searched online shopping platforms to compare prices and buy cheaper fruits and other food items that I need for family gatherings during the Lunar New Year holiday,” Lee, 63, a woman living in Gyeonggi Province said. Among

South Korean dietary supplements manufacturers are accelerating their entries into the growing Chinese market as the number of elderly people continues to increase in the country, according to industry sources on Sunday. On the back of an aging population, the Chinese dietary supplements market grew 3 percent on-year to reach around 73 trillion won ($54.5 billion) in 2022, according to a report released by the Korea Trade-Investment Promotion Agency. Among Korean companies, Korea Ginseng Corp.,

Gwangjang Market, a traditional market in central Seoul, is one of the most popular tourist destinations in the capital, offering a wide range of local foods and snacks. If you google the market, almost nine out of 10 reviews are about a petite-sized gimbap, or seaweed rice roll, with the intriguing name, “mayak gimbap.” "Mayak" means “narcotics” in Korean. Of course, nothing advertised as "mayak gimbap" actually contains any restricted drugs. The name

South Korean health and beauty retailer CJ Olive Young’s derma skin care brand Bioheal Boh and cosmetics and health care goods manufacturer Kolmar Korea have signed a business agreement to collaborate on microbiome skin care products. Under the recent agreement, the two companies will establish a new research lab, dubbed Probio Lab, to accelerate research and development of microbiome-based skin care products. “The latest business agreement is to combine Bioheal Boh’s specialti

Beer prices at restaurants saw the steepest price hikes last year since the 1998 financial crisis, according to the Korean Statistical Information Service on Tuesday. The consumer price index for beer products at restaurants increased to 114.66 points last year, up 6.9 percent from a year ago. The growth rate was the highest since the 1998 financial crisis when the CPI for beer soared by 9.7 percent. In the meantime, the prices of beer products sold at discount or convenience stores saw 2.9 perc

Japan reclaimed the top spot in South Korea’s beer imports in 2023, five years following the start of the Tokyo-Seoul trade dispute, data showed Wednesday. According to data from the Korea Customs Service, imports of Japanese beer products reached $55.51 million last year, a 283.3 percent increase from the previous year. The figure was the highest since $39.75 million was posted in 2019, the year Japan imposed new restrictions on the export of three key semiconductor materials to Korea. Th

Constant price hikes may drive away younger customers willing to seek niche alternatives

　South Korea’s exports of dried seaweed - “gim” in Korean - and cooked rice reached an all-time high during the first 10 months of this year on brisk overseas demand accompanying the popularity of Korean culture and food, the Korea Customs Service said. 　Outbound shipments of gim came to a record high of $670 million in the January-October period, up 20.4 percent from a year earlier, according to the data by the customs agency. 　In terms of volume, gim exports rose 17.3 perc