Further price increases for some processed food products appear unavoidable with the revival of the manufacturer’s suggested retail price from this month, industry sources said Sunday.The Ministry of Knowledge Economy announced in June that food products such as instant noodles, snacks and ice cream

Park Dong-gun, vice president of Samsung Electronics, has become the new chief executive of S-LCD Corporation, a joint venture between the Samsung Group’s flagship unit and Sony Corporation.   Park Dong-gunThe company said Saturday that Park will replace the LCD arm’s former CEO Chang Won-

A Korean inventor is considering a lawsuit against MillerCoors, claiming that the new Miller Lite bottle has copied his patented design, industry sources said Thursday.The Chicago-based brewing company launched last year the Vortex bottle, which has grooves on the inside of the neck. The company exp

Lotte Mart will launch its new range of discount products on Thursday ― half-priced instant stews in curry and “jjajang,” or black bean sauce, flavors. Even though their quantity has been doubled to 300 grams, the products’ price stands at 1,400 won ($1.32), matching other 150-gram products, the nat

Beauty firm aims to strengthen dominance in global marketAmore Pacific Corp. said Wednesday that it has completed a deal to take over French luxury perfume brand Annick Goutal on Tuesday. It was the first overseas merger and acquisition case for the nation’s largest cosmetics maker with nearly 40 pe

Price negotiations with dairy companies stalled amid concern over milk shortageConcerns over a nationwide milk shortage are escalating as farmers threatened to halt Wednesday’s milk supply to dairy companies, demanding a price increase.The government continued on Tuesday last-minute efforts to media

‘FTA effect’ may be felt in the second half of the year, customs agency saysSouth Korea’s trade surplus widened sharply in July from the previous month as exports grew at a faster pace than imports, the government said Monday.The country’s trade surplus reached $7.2 billion last month, compared with

This is the first installment in a series that spotlights Korean products enjoyed by people abroad. ― Ed. Choco-Pie, the flagship brand of local snack maker Orion Corp., is often called a “little giant” here.It is a small round chocolate pie with a marshmallow center, which is 7 centimeters in diameter and weighs about 35 grams.Since 1974, the Choco-Pie has been enjoyed by every age group of Korea

Starbucks Korea is considering launching its instant coffee mixes here soon, the president said Wednesday marking the 12th anniversary of the Seattle-based company’s Korean business.“The instant coffee brand, which was launched last year in Japan following the U.S., Canada, and the U.K., would be introduced to Korean consumers,” Lee Suk-koo, the head of Starbucks Korea, said in a press conference

Amore Pacific, Korea’ top cosmetics maker, is now targeting the fast-growing Chinese market, devising a premium positioning strategy with its high-end herbal medicine cosmetics brand Sulwhasoo.After successfully entering the markets in Hong Kong in 2004 and the U.S. in 2010, the brand Sulwhasoo made its Chinese debut this year.  An advertisement for Sulwhasoo at Shin Kong Palace, a Beijing departm

Premium brand Sulwhasoo realizes 66 years of research effortsAmore Pacific, Korea’s top beauty company, officially launched its high-end herbal medicine cosmetics brand Sulwhasoo in Beijing on June 22. With about 100 journalists and industry people in China and Hong Kong in attendance, CEO and president Suh Kyung-bae expressed strong confidence about the brand’s success in Asia as well as in China