The National Tax Service announced Tuesday that it has launched the K-Liquor Promotion Council to boost exports of alcoholic beverages produced by small and mid-sized firms. "Imports of alcoholic beverages have increased during the COVID-19 pandemic, but exports of locally produced alcoholic beverages have had difficulties in entering the foreign markets,” the National Tax Service explained the background behind the launch of the council. According to the NTS data, imports of alcoholi

Chanel Korea has launched an online pop-up store to sell luxury watches, marking the first time the French fashion house is selling its high-priced luxury goods online, excluding beauty products. The online store will be running on SSG.com, an e-commerce platform owned by Korean retail giant Shinsegae Group. Chanel plans to sell seven watch products -- including the J12 Cybernetic, Boy Friend CyberData and J12 Interstellar -- through the store, named the “Chanel Interstellar Capsule Collec

Orion Holdings, the holding company of snack maker Orion Group, announced Monday that it had signed a contract with Chinese partners to export its mineral water product, Jeju Yongamsoo. With its partnerships with Qingdao Yongping Market Management and Qingdao Guoxin Culture and Sports Industry, Orion Holdings aims to increase its sales of the water product in China. "Orion expects the company's production and sales of its water product to significantly increase on the latest signing wi

Health-conscious consumers ditch high-sugar fruit juice products for low-calorie, sugar-free options

Global luxury giant LVMH Group, the operator of multiple fashion and jewelry brands such as Louis Vuitton, Christian Dior and Tiffany & Co., logged record sales in South Korea last year, following a slew of price hikes for its flagship products amid the country's increased spending on luxury goods. According to Louis Vuitton Korea, the Korean subsidiary of LVMH's Louis Vuitton, the company's sales last year recorded 1.69 trillion won ($1.2 billion), up 15 percent from 2021. Th

Luxury fashion platform Jente said Thursday its sales hit a new high of $24 million last year, a 140 percent jump from a year ago, extending its winning streak since its launch in 2020. According to the company, operating profits also almost tripled to $3.3 million last year, compared to $900,000 in the previous year. The company said that the growth had given it a footing as a representative luxury shopping platform here. The number of monthly active users, a key e-commerce indicator, also surg

More than 10% of sales come from overseas markets, led by top two bestsellers – Banana Flavored Milk and Melona Ice Cream

Revenue from liquor products remained more or less the same due to increased prices

The number of Japanese travelers has increased recently but the slow return of Chinese tourists keeps full recovery at bay

South Korea's food delivery app Baedal Minjok, or Baemin, has been charging the highest fees to its vendors among the country's top nine e-commerce platforms, according to government data released on Friday. The Financial Supervisory Service, the country's financial regulator, unveiled commission rates of nine online e-commerce platform operators that generate transaction volumes exceeding 100 billion won ($77 million) a month. In terms of transactions made by credit card, Baemin,

South Korea’s top brewer, Oriental Brewery, said Wednesday it is releasing an upgraded version of Hanmac, its Korean rice-based lager beer that made its grand debut in 2021. Hanmac was launched as “Korea’s most representative lager project” to celebrate the 100th anniversary of the nation’s beer history. Being loved for its unique refreshing flavor and softness, the beer is making a comeback under the slogan, “Smooth Korea.” The brewer said the new Hanma

GoldenBlue, a South Korean whiskey maker and distributor of imported liquor products, said Tuesday that Carlsberg Group "unilaterally" terminated their contract for the distribution of Carlsberg beer in Korea earlier this month. The company said it will stop selling Carlsberg beer products from Friday, labeling the unilateral notice “tyrannous.” According to the Korean firm, it had distributed Carlsberg beer products under a three-year contract between 2018 and 2021, but si

Mask sales are still growing a week since the lifting of the mask mandate for public transportation, according to sales data compiled from online shopping sites Monday. The South Korean government has been gradually easing mask-wearing rules starting with wearing masks outdoors last May and in most indoor spaces earlier this year. Most recently, last Monday, the indoor mask rule for public transportation, including subways, buses and taxis, was lifted as well, though experts still strongly advis

Shortlist of bidders for W100b deal to be announced in coming weeks

South Korean food and bakery giant SPC Group said Thursday that Paris Baguette has opened its first store in Canada. Paris Baguette, the nation’s No. 1 bakery chain, operates some 450 stores in a total of 10 countries around the world, with its latest Canadian opening adding to the list. The latest Canadian store is located on the first floor of the Yonge Sheppard Center in Toronto. “SPC will accelerate its international expansion, targeting the $9 trillion global food market,”