Prices of groceries and nonalcoholic beverages in Korea rose 5 percent on-year in the July-September period, marking the fifth-largest increase among OECD nations, data showed Sunday. According to data from Statistics Korea and the Organization for Economic Cooperation and Development, prices of food and beverages grew even higher last month on-year at 6.1 percent on the back of strong price increases of agricultural and processed products. The quarterly price growth of food and beverages w

Food delivery apps saw their users decline after South Korea entered the first phase of the “living with COVID-19” scheme last month. But amid growing competition and a push by delivery apps for “one order per trip” to promise a speedy service, a delivery rider shortage is likely behind the rising cost of your order, industry sources said. According to IGAWorks’ mobile index, Android phone users who used delivery apps Baemin and Yogiyo dropped by 8.9 and 7.5 perc

An advertisement campaign from Daesang took home two honors at the Korea Advertising Awards this year, according to the food company on Sunday. Founded in 1994, the Korea Advertising Awards are considered the most prestigious awards in the industry here. Some 2,000 advertisements are submitted for consideration each year, the organizers said. An advertisement series of Daesang’s “Anjuya” products -- ready-made side dishes to be paired with alcohol -- received two nominatio

Retail sales in South Korea surged 14.4 percent in October from a year earlier as more consumers opened their wallets amid various promotional events and cold weather, the industry ministry said Monday. The combined sales of 25 major offline and online retailers reached 13.6 trillion won ($11.41 billion) last month, compared with 12.01 trillion won a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. Sales from offline stores rose 10 percent on-year in

Burger King issued an apology Friday, after a plastic wrapper was found inside a burger sold at one of its stores in Sejong. “Burger King would like to sincerely apologize to the customer for the inconvenience,“ the US burger chain said in a statement. ”We are currenly investigating how the substance got into the food. Burger King will increase efforts to improve the quality of our products and services.“ On Thursday, a male customer told local media he found a she

  Lotte Group has hired Kim Sang-hyun, former vice president of market rival Homeplus, to lead Lotte Shopping, which controls all the group’s retail business, officials said Thursday. The group’s hotel department will be led by Ahn Se-jin, former CEO of the Korean restaurant chain Nolboo. Kim Gyo-hyun, former head of Lotte Chemical, was promoted to vice president in recognition of his achievements in restoring the fortunes of the group’s chemical business to pre-pandemic

Comprehensive real estate taxes have been levied on nearly half a million homeowners in Seoul this year, up more than 20 percent from last year, as housing prices and tax rates surged. Seoul homeowners collectively faced 2.8 trillion won ($2.35 billion) in comprehensive real estate taxes, 2.3 times the amount levied last year. The sharp increase in the property holding tax could affect the market as some homeowners may choose to sell their homes to reduce the tax burden, thereby bringing down

In a move to expand its footprint in the health care sector, CJ CheilJedang will spin off its health and wellness business, the Korean food maker said Tuesday. Set to be launched on Jan. 1, the new subsidiary CJ Wellcare will be entirely controlled by CJ CheilJedang. The move comes after CJ Group Chairman Lee Jay-hyun in early November pledged to invest 10 trillion won ($8.41 billion) over the next three years to boost four growth engines -- one of which is the health and wellness sector.

Prices are rising for ramyeon, milk, and other everyday foods and drinks, as the pandemic has disrupted supply chains and pushed up the prices of agricultural goods. According to data from the Bank of Korea released Monday, consumer prices in the third quarter rose 2.6 percent from the same period last year. It was the steepest on-year increase in nine years, the institution said. First to feel the impact was South Korea’s No. 1 fried chicken franchise, Kyochon F&B. The company on

Coway, a South Korean home appliance maker, said Monday that it has launched a premium built-in water purifier that replaces the previous high-end model it introduced 10 years ago, with the aim of leading the trend toward built-in appliances. Coway’s Noble built-in water purifier features an under-sink filtration system, which is more commonly used abroad than in Korea, according to the company. For domestic customers who aren’t familiar with built-in water purifiers, Coway develop

Hyundai Livart’s first smart furniture production plant and distribution center has begun operations, according to Hyundai Group’s furniture arm Hyundai Livart on Thursday. Located in Yongin, Gyeonggi Province, the 85,950-square-meter Smart Work Center hosts an automated furniture production plant and massive distribution facilities. It is the first smart furniture factory not only in Korea, but in all of Asia, the company said. The smart factory is controlled by an IT system t

Samyang Foods said Wednesday it had inked a partnership deal with United Arab Emirates retailer Sarya General Trading to accelerate Spicy Buldak Ramen sales in the Middle East. Under the 2.5 billion-won ($2.1 million) deal signed on Tuesday, Sarya will be Samyang’s exclusive distribution partner in the country. The two plan to increase export volume to 50 billion won by 2023, it said. UAE is the region’s biggest market for Samyang. Currently, some 71 percent of Korean instant no

Fried chicken and beer -- known locally as “chimaek” -- is a food pair beloved by many Koreans.    In a new development in South Korean chimaek scene, major chicken brands are coming up with their own beer brands, in order to give this popular food combo a special appeal.  KFC confirmed Monday to The Korea Herald that it was preparing to launch its own craft beer.  The US fried chicken franchise has formed a partnership with independent brewery Kabrew, and

Edible insects like fly larvae, crickets, and mealworms are hailed as a healthy and more sustainable source of protein for the mankind. But not many people seem to find them appetizing enough, at least not yet, to include them in their regular diet. For dogs and cats, it’s a different story. “Our products are loved by pets as they taste nutty and also like cheese biscuits” Kim Tae-hoon, the CEO of Foody Worm, which sells insect-based pet food, told The Korea Herald. The

From ready-meals to ice cream, unstaffed stores are fast spreading in the tech-savvy country