Celebrating two years in office, Chairman Shin vows to become No. 1 ramen seller in US

Starbucks Korea will release a limited edition of three popular beverages in a size called "trenta" that is almost 1 liter starting from July 20 to Sept. 30, to commemorate its 24th anniversary of opening in the country. The trenta size will be available as to-go only at select locations, and offered as an option for three popular Starbucks beverages: Cold Brew, Iced Grapefruit Honey Black Tea, and Strawberry Acai Starbucks Refreshers Beverage. The trenta size is currently only availab

The Ministry of Agriculture, Food and Rural Affairs recently met with South Korean dairy companies in a bid to increase the pressure on them to minimize price hikes for milk, according to Food Ministry Wednesday. According to a Food Ministry spokesperson, the Food Ministry asked Korean dairy companies during a closed-door meeting to minimize price hikes for milk that are expected to take place amid a forthcoming surge in the price of raw milk. Currently, Korea Dairy Committee, a private organiza

Bacardi Korea, the leading rum brand in South Korea, will be launching its "Do What Moves You" (DWMY) campaign in collaboration with artists Toil and Skinny Brown from record label Daytona Entertainment. Marking the third DWMY campaign in Korea, this year’s campaign is targeted at the younger MZ audience -- an acronym for millennial and Generation Z -- who strive to express themselves confidently and unapologetically without being swayed by others' opinions. The campaign wil

NHN Commerce, the retail unit of South Korean information technology company NHN Corp., said Tuesday it acquired a controlling stake in Italian luxury fashion brand retailer Ikonic, in a bid to further extend its reach into the global stage. NHN Commerce now holds a 77.8 percent stake in Ikonic -- an Italian multi-brand fashion platform retailing over 250 brands in the global market. Terms of the deal were not disclosed. Ikonic's annual sales stands at some 100 billion won ($77 million) in

South Korea's price growth rate for bottled water recorded its highest level in 11 years following a series of price hikes in the industry, according to data Monday. According to Statistics Korea, the consumer price index of bottled water stood at 112.09, a 10.8 percent on-month increase. The nation's growth in the CPI of bottled water recorded its highest rate since June 2012, when it rose by 11.6 percent. The price rise comes as the nation's biggest bottled water manufacturers h

Jinro, one of the most popular Korean soju brands, has been named this year's Supreme Brand Champion by a British magazine, Jinro's maker said Thursday. Jinro won the accolade in the annual report issued by The Spirits Business, according to HiteJinro Co. This is the first time Jinro has won the supreme title. Jinro was named the local spirits brand champion in 2018 and 2021. Jinro brand includes plain soju products -- Chamisul and Jinro -- as well as flavored soju products. HiteJinro

McDonald's Korea on Wednesday unveiled its vision to operate a total of 500 McDonald's outlets in the country by 2030 and release an exclusive menu in the Korean market, in celebration of its 35th anniversary. "During the first half of this year, the (firm's) sales rose about 10 percent on-year to some 623 billion won ($479 million), logging its largest (semi-annual) sales since the brand's entry into Korea," McDonald's Korea CEO Kim Ki-won said during a press

South Korea’s first Five Guys burger restaurant located in Gangnam-gu, southern Seoul, sold around 15,000 burgers during its first week, according to FG Korea, a food subsidiary of Hanwha Galleria, Tuesday. On average, Five Guys sold more than 2,000 burgers a day and up to 200 burgers an hour. Customers from various regions across Korea came to eat at Five Guys, including Seoul, Gyeonggi, Daejeon, Daegu and Busan, the company said. There were even some that flew to Korea from Japan, which

South Korea posted its highest-ever semi-annual ramen exports figure amid the increased global demand for Korean instant noodle products, data found Tuesday. According to the data from the Korea Agro-Fisheries and Food Trade Corporation, a quasi-government agency, Korean ramen exports were tentatively tallied at $446.2 million, as of June. The number recorded a 16.4 percent jump from the previous record high of $383.2 million, logged in the first half of 2022. Korea's semi-annual ramen expo

Starbucks Korea said Tuesday that its third drink developed with the Korean Commission for Corporate Partnership and the national cooperative association of cafe owners, named the Okcheon Sweet Pumpkin Latte, will go on sale at 150 cafes owned by small business owners across the nation. The drink is the specialty coffee chain’s third attempt at launching unique beverage recipes using locally sourced ingredients in a bid to ramp up its contribution to the local economy.

South Korea's top e-commerce retailer Coupang said Monday it has launched a new service allowing customers to buy luxury beauty brands' products at its platform. At Rocket Luxury, customers will be able to purchase products of 16 high-end beauty brands from home and abroad, including Estee Lauder, MAC, Bobby Brown and Hera, directly bought by Coupang. The products will be delivered through the "rocket delivery" service, which offers delivery service within 24 hours upon order

Experts uncertain about impact of coercive policy, fearing long-term price hikes to offset losses

Shinsegae Simon, a premium outlet operator under South Korean retail giant Shinsegae Group, said Thursday it will ramp up its reach to tourists by turning its outlets into a local tourist destination. Starting Saturday, an exclusive express bus route will take patrons from Seoul Express Bus Terminal located in southern Seoul, to Shinsegae Simon Yeoju Premium Outlets in Gyeonggi Province, according to Shinsegae Simon, a 50:50 joint venture between Shinsegae and US-based real estate developer Simo

Michelin-star chef Gordon Ramsay will open his second burger restaurant in South Korea in the southern city of Busan this week, officials said Wednesday. The newest Gordon Ramsay Burger will open in Shinsegae Centum City Department Store in Busan on Thursday. It will be the gourmet burger chain's second location in South Korea, joining the Seoul restaurant that opened last year, according to the company. Various types of burgers, fries and drinks will be on the menu, and some 100 seats will