Coupang couriers launch labor union, claiming decline in working conditions

Delivery workers of e-commerce giant Coupang's subcontractors have set up a labor union, calling for better working conditions amid the company’s rapid growth in recent years. According to the Korean Confederation of Trade Unions, one of the major umbrella confederations of unions here, the new labor union held a launching ceremony at the company’s logistics center in Yongin, Gyeonggi Province, on Monday. This labor union primarily includes delivery workers at subcontracted comp

April 24, 2023

Colombian avocados found to have excessive level of pesticides

More than 200 times the amount of pesticides permitted on avocados had been detected in those shipped from Colombia to South Korea, according to the Ministry of Food and Drug Safety. In 22,080 kilograms of Colombian avocados imported by a Korean agricultural product trade platform operator Tridge, 2.03 milligrams per kilogram of thiabendazole had been detected. This is much higher than the standard of 0.01 milligram per kilogram set by the Korean regulator. Thiabendazole, a fungicide and pestici

April 21, 2023

[K-Food] Harim at forefront of exporting Korean superfood samgyetang

This article is the seventh installment in a series of interviews with global business chiefs of South Korean food companies that are expanding aggressively in overseas markets. -- Ed. Amid the rising demand for healthy foods, South Korea has increasingly exported its traditional superfood samgyetang, or ginseng chicken soup, to overseas markets in recent years. According to the Korea Agro-Fisheries and Food Trade Corp., exports of samgyetang have jumped by 64 percent from $11 million in 2017 to

April 20, 2023

Genesis BBQ opens new restaurant in California

South Korean fried chicken franchise Genesis BBQ said Wednesday it recently opened a new restaurant in California in an effort to further penetrate the American market. Labeled under the franchise’s brand name “bb.q Chicken,” it is its 35th outlet in California. The restaurant is located in a bustling business center called Callens Corner in the Orange County city of Fountain Valley. With schools, hospitals, churches and other public facilities in the area, Callens Corner is a

April 19, 2023

Soju's main ingredient posts biggest price jump in 20 years

The price of spirits used to make soju products went up Tuesday, marking the biggest jump in the last 20 years. The price hike comes for a second consecutive year, increasing burdens on local soju makers. Korea Ethanol Supplies Co. said Tuesday it has raised the price by 9.8 percent. The price hike will apply to all soju makers as the company is the country's sole distributor of the spirit. The latest 9.8 percent increase follows an 8 percent raise last year, and it is the highest increase

April 18, 2023

[Graphic News] Smartphone sales slide

Sales of smartphones in South Korea fell 6 percent last year from a year earlier, industry data showed. Samsung Electronics, the world’s leading smartphone maker, saw its smartphone sales decline 2 percent on-year in its home country in 2022, while sales of Apple’s iPhone inched down 0.4 percent from a year ago, market analyst firm Counterpoint Research said. Sales of others tumbled 71 percent on-year last year due to a base effect stemming from LG Electronics’ exit from the mo

April 17, 2023

Online luxury sellers suffer losses as shoppers return in-store

A slew of Korean online luxury retailers have capped last year with sharp falls in their profits as consumers have begun returning in-store while competition among online malls grow fierce. Korean luxury goods platform Must-it's operating losses widened by 68 percent on-year to 16.8 billion won ($12.9 million), according to the firm's regulatory filing on Friday. Other Korean major platforms also were in the red in 2022, with Korean luxury goods retailer Balaan seeing its operating los

April 16, 2023

SPC ups support for minorities in New York

South Korean food and bakery giant SPC Group said Friday it has joined hands with the city government of New York and the American Chamber of Commerce in Korea to boost the US city’s economy by expanding support for minority groups. A signing ceremony for the memorandum of understanding was held in New York on Wednesday, with Mayor Eric Adams, AmCham Chairman James Kim and Paris Baguette North America Chief Strategy Officer Hur Jin-soo in attendance. Under the agreement, SPC will run a six

April 14, 2023

[K-Food] Sempio spicing up global dishes with K-sauces

This is the sixth installment of a series of interviews with global business chiefs of South Korean food companies that are expanding aggressively in overseas markets. -- Ed.   Sauces embody a tradition -- they are a compilation of decades of locals’ know-how for spicing up native cuisine. As such, matching traditional sauces with foreign dishes is rare. However, Korea's largest sauce maker Sempio said it is currently at the vanguard of savory Korean sauces imbuing diverse menu items

April 13, 2023

Lotte department store to feature artwork from Japanese architect Kengo Kuma

Lotte Shopping Co. said Wednesday it will exhibit an installation from renowned Japanese architect Kengo Kuma at its high-end department store in southern Seoul starting this week. The artwork, titled SU:M, will be on display at Lotte AVENUEL, the retailer's luxury-brand department store, for the next five months starting Friday. Kuma is famous for projects using various natural materials, such as tree branches, stones and fabric, and harmonizing nature and architecture. He was the mastermi

April 12, 2023

New council aims to boost Korean liquor exports

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

April 11, 2023

Chanel picks Korea to sell watches online for 1st time

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

April 11, 2023

Orion Holdings signs contract to export water product to China

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

April 10, 2023

[KH Explains] Zero-sugar drinks reshape beverage market

When a 30-year-old Seoulite surnamed Choi drops by the convenience store before hitting the gym, he makes sure that he chooses a sugar-free soft drink from the cooler. “I have been drinking sugar-free soft drinks instead of regular ones, because I find it more helpful for my workouts,” he said. Choi is one of many young health-conscious consumers whose choices reflect the clear winner in the beverage market -- sugar-free beverages. Sugar-free and low-calorie soft drinks are enjoying

April 10, 2023

Louis Vuitton posts record sales in Korea amid shopping binge

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

April 10, 2023

Luxury shopping platform Jente posts record sales in 2022

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

April 6, 2023

[K-Food] Binggrae taps into niche markets with K-snacks

This is the fifth installment of a series of interviews with global business chiefs of South Korean food companies that are expanding aggressively in overseas markets. -- Ed. Korean snacks, which have survived a saturated market at home by gaining the approval of one of the most gastronomic and difficult-to-please consumers in the world, are making aggressive inroads into overseas markets in a bid to further tempt global consumers' palates. “In order for Korean snacks to successfull

April 4, 2023

Liquor shipments down amid cost of living pressures

Shipments of alcoholic beverages in South Korea have decreased over recent years amid inflationary pressures and changes in attitudes to alcohol consumption during the COVID-19 pandemic, government data showed Friday. According to Korea Agro-Fisheries & Food Trade Corporation data, the combined shipments of liquor products in 2021 came to 3 million kiloliters, down 3.5 percent on-year. The figure in 2014 came to 3.8 million kl. Between 2019 and 2021, during the COVID-19 pandemic, shipments o

April 3, 2023

[Weekender] Foreign tourists flock back to Myeong-dong

Foreign travelers are returning to Myeong-dong after over three years of economic decline due to the COVID-19 pandemic, with the central Seoul shopping district seeing signs of recovery. “Between last winter and now, I have been able to see a lot more foreigners in the Myeong-dong area, particularly on the main street. From morning until midnight, foreigners continue to flow into the area," a 27-year-old part-time worker surnamed Kim told The Korea Herald in Myeong-dong, Seoul, Tuesda

April 1, 2023

Baedal Minjok charges highest transaction fees to vendors

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,

March 31, 2023