Amid the growing popularity of plant-based proteins as healthy and eco-friendly alternatives to meat, Pulmuone aims to become a leader in the plant-based food industry, the company said Wednesday. The South Korean food company’s Plant Protein Meal Bureau will release new products domestically and globally, in countries including the US, China and Japan, it added. Pulmuone, which revealed a three-year plan for the plant-based food push, chose six categories to focus on: plant-based pro

Instant noodles gets boost on the back of the pandemic and ‘Ram-don’ phenomenon

Gmarket’s mobile app has undergone a complete reform to be more intuitive and easier to use, eBay Korea, the company behind the online marketplace, said Tuesday. According to the e-commerce platform operator which also runs G9 and Auction in South Korea, the app has been renewed to match Gmarket’s new brand identity. The changes are not just in the way it looks, but in the way the app operates to offer a more convenient shopping experience for customers, it stressed. Having la

South Korea’s parcel market reached 7.49 trillion won in sales last year

About a week into its debut on the New York Stock Exchange, Coupang is allowing some of its workers to sell their shares. Coupang announced an early stock lockup agreement release for about 34 million shares held by employees, which became eligible for sale at the opening of trading Thursday US time. According to the South Korean e-commerce platform company, the condition of the release -- that its stocks must close at or above the initial public offering price, $35 -- was satisfied as of th

Samyang Foods achieved record sales of 648.5 billion won ($572 million) and an operating profit of 95.3 billion won in 2020 despite the COVID-19 pandemic, the South Korean food company said Friday. Samyang Foods, which produces the globally popular Buldak Spicy Chicken Noodle, said both its sales and operating profit jumped last year from a year earlier, by 19.3 percent and 21.9 percent, respectively. Sales from overseas backed the sales growth, having increased 35.8 percent on-year to reco

OB to bank on All New Cass, Hanmac, Cass Zero for market lead

CU is launching a beer subscription service to target the increasing number of people enjoying imbibing alone and at home, the convenience store chain operator said Thursday. BGF Retail, the firm behind the convenience store chain, has teamed up with beer subscription app service Dailyshot to roll out its service where a user can get three cans of popular beer products from a nearby CU store at 6,900 won ($6.10) per month. CU is the first to launch such a service for beer in the convenience

Amorepacific, Olive Young lead efforts to go green by reducing waste

Coupang’s IPO, Naver and Shinsegae’s stock swap deal are latest examples of structural shift in Korea’s e-commerce market

Traditional retail giant and tech behemoth team up to gain upper hand against rising e-commerce players, such as Coupang

Burger chain reports 7% growth in 2020; vows to use more domestically produced ingredients, hire 500 new full-time employees this year

Ikea Korea has unveiled its first “Circular Hub” in South Korea at its Goyang branch in Gyeonggi Province, where second-hand items are sold, the Swedish furniture company said Monday. The Circular Hub is a global project introduced by the Ingka Group, in its commitment to prolong the life of its products and contribute to circularity, Ikea explained. “With the launch of ‘Circular Hub,’ we are excited to support the many people with new, more inspiring ways to ea

Pulmuone Foods, a subsidiary of fresh food company Pulmuone, said Monday it had named the ex-vice president of LG’s Global Marketing Center as its new CEO. Kim Jin-hong, the new CEO of Pulmuone Foods, boasts some 20 years of marketing experience under his belt at home and abroad. The 55-year-old took on multiple senior roles while at LG including President of LG Electronics France and was the president of Kellogg Company’s South Korean unit between 2013 and 2014. “As the co

Coway has hired the BTS as the new model for global promotion of the company, the Korean home appliances rental company said Sunday. Signing the contract with BTS’ management agency Big Hit Entertainment, Coway said it seeks to raise brand awareness and increase its consumer base in the global market. Under the contract, BTS will be promoting the company image and its services, including lease of various appliances such as water and air purifiers and mattress rentals, Coway said. Adve