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HiteJinro, the nation’s No. 1 soju maker, has set its goal of hitting 500 billion won ($362 million) in soju sales overseas by 2030, an ambitious three-fold growth from last year. The new growth vision, marking the company’s centennial this year, was unveiled June 12 at a press conference held i...
AliExpress, the fast-growing e-commerce platform owned by Chinese tech giant Alibaba Group, is rumored to be considering buying Korean discount store chain Homeplus and its nationwide logistics network, making its Korean rivals nervous about the growing presence of Chinese retailers on their home t...
Hanjin Logistics Corp., an affiliate of domestic airline-to-logistics conglomerate Hanjin Group, said Monday it is expanding its logistics network in Europe with plans to launch two new locations, in Hungary and Morocco, this year alone. The new initiative follows an assessment of the market poten...
The Danish government has recalled three types of spicy ramyeon Buldak products made by the Korean manufacturer Samyang Roundsquare simply because they are too spicy. On Tuesday, the Danish Veterinary and Food Administration, under the Ministry of Food, Agriculture and Fisheries, ordered a recall ...
Warehouse stores in Korea have seen a rise in sales, drawn by bulk sizes of fresh ingredients at lower prices as people opt for cooking at home rather than eating out, amid increasing prices. From January through April, sales of Traders Wholesale Club, the warehouse-type discount store owned by E-...
South Korea’s retail giants Shinsegae Group and CJ Group have agreed to cooperate on logistics and retail businesses to compete with domestic and overseas rivals. The two retail giants signed a memorandum of understanding Wednesday for their partnership centering on the Shinsegae Group e-commerce...
South Korea's food maker Daesang announced Monday the expansion of its manufacturing plant in Vietnam with an investment of approximately 30 billion won ($21.8 million). Vietnam is a key market for Daesang's global business. Fueled by the K-food wave, Daesang’s food and materials sales exceeded 2...
Korea Ginseng, a ginseng brand of Korean health product and cosmetics retailer DAV International, has introduced red ginseng products to combat exhaustion and weakened immunity due to recent temperature fluctuations. Red ginseng is renowned for its immune-boosting properties, particularly its anti...
HiteJinro, the nation's oldest liquor-maker marking its centennial this year, on Wednesday renewed its emphasis on product quality and customer engagement. "We believe the key to maintaining a 40 percent share of some 2,729 manufacturing licenses in Korea today is HiteJinro's exceptional products,...
Korea's e-commerce platform sector is highly competitive, but The Woorishop thinks it has the standout solution: a cashback offer to keep customers coming back. The platform provider offers a package that returns high-percentage cash paybacks to consumers, allowing buyers to enjoy substantial disc...
South Korea's top logistics firm CJ Logistics said Wednesday that it has established cross-border e-commerce partnerships with leading logistics companies in the United States and Japan to strengthen the distribution network for Korean sellers abroad. In the US, CJ Logistics will handle air freigh...
South Korean e-commerce giant Coupang has set up its first overseas distribution unit in Taiwan in an apparent move to boost its presence in the burgeoning retail market there, according to industry sources Monday. The new subsidiary, named Haitong Shangmao, specializes in distributing locally pro...
By Park Se-ra ( serap1005@heraldcorp.com )
CJ Group's health and beauty drugstore CJ Olive Young showed stronger year-on-year performance in the first quarter, largely driven by robust sales in foreign markets and an increasing number of foreign visitors to Korea. According to its regulatory filing Thursday, the company reported 1.08 trill...
Korean food giant CJ CheilJedang beat earnings estimates in the first quarter of this year, largely driven by increased overseas sales. According to its regulatory filing Tuesday, the company posted 4.44 trillion won ($3.24 billion) in sales and 267 billion won in operating profits in the first mo...
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