In February, Korea’s instant noodle exports reached a record high. As the green light has been given to instant noodle exports since the beginning of the year, Korea’s ramen exports are expected to exceed USUS$1 billion for the first time this year.Korea’s instant noodle exports last month was the h
Pulmuone's innovative plant-based protein product, 'Tofu Bar,' continues its rapid sales growth, captivating the taste of local consumers in Japan's top three major convenience stores.Pulmuone, a South Korean fresh food company, announced on the 7th that the sales of Tofu Bar, launched by its Japane
As the food industry is gaining ground in overseas markets thanks to the global craze for K-pop and other aspects of Korean pop culture, three Korean fried chicken companies are also determined to actively explore new markets this year. In addition to Asian countries such as Taiwan and Singapore, th
This year marks the first time that the number of countries importing Korean kimchi has surpassed 90. The global popularity of Korean kimchi, often attributed to the Hallyu wave and health trends such as vegetarianism, is leading the way in showcasing K-food on the international stage.According to t
Global brands from various sectors are taking notice of the Korean market. Leading luxury brands like Gucci and PRADA have hosted large-scale events in Korea, while imported car brands such as BMW, Mercedes-Benz, and Audi are using Korea as a testbed for their products. This trend extends beyond jus
On Oct. 22, SPC Group announced that Paris Baguette has surpassed 500 outlets worldwide.Paris Baguette has been on a roll, opening stores consecutively in places like Pennsylvania, New York, and New Jersey in the U.S.; Toronto, Canada; and Shanghai, Beijing, and Xi'an in China since last month. This
Even as the Russia-Ukraine conflict continues for over a year, leading to logistical challenges, soaring raw material prices, and high interest rates affecting many businesses, Orion saw record-breaking sales driven by the rising popularity of its Choco Pie product. Increased food demand during thes
It has been 30 years since Korea began hiring foreign workers in earnest with the introduction of the Industrial Trainee System in 1993, which was replaced by the employment permit system in 2004. But chaos is still lingering in the field.According to small and medium-sized enterprises (SMEs) on Jul
Prestige whisky of Pernod Ricard Korea, Royal Salute, was honored as the double-crown awardee in the whisky category of the ‘2023 Korea Wine & Spirits Awards’. Moreover, with craft bourbon whiskey Rabbit Hole and single pot still Irish whiskey Redbreast, new releases from last year to meet diversifi
SPC Group announced on Jan. 19 that it opened the first branch of Paris Baguette Malaysia in Kuala Lumpur, the capital of Malaysia.The opening of the branch came six months after the establishment of Berjaya Paris Baguette, a joint venture between SPC and its Malaysian partner Berjaya Group, in June
For the upcoming Korean New Year, Pernod Ricard Korea has introduced whisky gift sets tailored to many different lifestyles and tastes of recipients, from whisky aficionados and for those that gift-giver wants to express gratitude and respect. Pernod Ricard offers and expands the range of options fo
SK Group announced on Jan. 8 that about 30,000 people visited its pavilion at the CES 2023 exhibition hall in Las Vegas for four days from Jan. 5 to 8 (local time).Starting with 7,500 people on Jan. 5, the opening day of the exhibition, 9,500 people visited the SK Group pavilion on Jan. 6. On Jan. 7
The entire ‘Gourmet 494 Hannam’ located in Yongsan, Seoul is transforming into a one-of-kind pop-up station for Ballantine’s Single Malts Glenburgie.Pernod Ricard Korea announced on Dec. 1 that it would run ‘Ballantine’s Single Malts Glenburgie Station’ at a premium lifestyle platform ‘Gourmet 494 H
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. According to Maslow’s hierarchy of needs, individuals must satisfy their lower-level needs first before progressing on towards higher-level goals (ie, one must secure food before catering to taste)
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. We lower our TP on Studio Dragon to W100,000 in reflection of valuation de-rating amid concerns toward downstream industries. But, we maintain a Buy rating, noting stable growth in terms of both se
Lotte Chilsung Beverage’s Cloud Original and Cloud Draft nabbed gold awards at the Australian International Beer Awards (AIBA) and the Belgian Monde Selection, both of which are world-class liquor fairs.A total of 355 beer makers around the world submitted 2,600 products to the AIBA, one of the worl
KT announced on July 3 that it would strengthen its services for foreign customers.KT has opened the KT Mini Program on WeChat for Chinese customers residing in Korea and started operating it in earnest at the beginning of July. Chinese customers can use the KT Mini Program immediately by searching
Pulmuone, a Korean food company, will participate in an educational documentary production project with the Culinary Institute of America (CIA), one of the world’s top three prestigious culinary schools, in an effort to promote plant-based recipes, the tastes of Korean food, and Korea’s healthy food
K-food startup Lou et Lang has launched cup noodles in France in collaboration with Nongshim, which are available in 600 major hypermarkets in France including Monoprix and Carrefour.In September 2021, Lou et Lang’s French subsidiary, Maison de Corée, launched two types of cup noodles for the French
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. Last year, affected by a lack of global OTT originals, Studio Dragon’s Western world earnings stagnated. But, Vincenzo and Hometown Cha-Cha-Cha both achieved lengthy successful runs in Asia, once a