Consumer sentiment hits 4-yr high in July on hopes for economic stimulus: BOK

South Korea's consumer sentiment rose to a fresh four-year high in July, driven by optimism over the government's supplementary budget and other measures to prop up the economy, and robust exports, the central bank said Wednesday. The composite consumer sentiment index stood at 110.8 this month, up 2.1 points from June, according to a survey conducted by the Bank of Korea. It marked the highest level since June 2021, when the index reached 111.1, and the fourth consecutive monthly increase. The

July 23, 2025

Nexon's Maple Con goes global for 20th anniversary

Nexon said Tuesday that it will host “Maple Con 2025,” a global festival celebrating its hit game MapleStory, in Taiwan this August and in the US this October. The event was first held in December 2024 at Kintex in Ilsan, just outside of Seoul, attracting 10,000 visitors over three days. This year, the event will expand overseas to celebrate the 20th anniversary of MapleStory’s service in both Taiwan and the US. The game has earned massive global popularity, reaching approximately 150 million re

July 22, 2025

Officals warn of rise in fake 'Made in Korea' labels

A record wave of low-cost clothing from China is pouring into South Korea, and much of it is being illegally disguised as Korean-made. Last year, South Korea imported more Chinese apparel than ever before. According to the Korea Customs Service, the country brought in $4.83 billion worth of clothing from China, up 50 percent from 2020. With the rise in volume, the authorities are seeing a surge in a deceptive practice known in Korea as "label switching." Imported garments arrive with tags that s

July 22, 2025

Shinhan Bank starts Sunday operations for foreign nationals

Shinhan Bank announced Friday that it will begin Sunday operations at three of its branches — Dongdaemun, Suwon Station and Onyang Banking Center — starting July 20, to better serve foreign residents in Korea. The initiative is aimed at foreign national workers and residents who have difficulty visiting banks on weekdays. The selected branches will operate every Sunday from 10 a.m. to 3 p.m., offering services such as bank account openings, debit card registration, internet banking and overseas

July 18, 2025

Haribo opens Asia's 1st offline store in S. Korea

German confectionery company Haribo opened a dedicated offline store in South Korea on Wednesday, marking the brand's first standalone outlet in Asia as it seeks to meet growing demand in the region's fourth-largest economy. Haribo, the world's leading manufacturer of fruit gummy products, has sold its products in South Korea for more than a decade. In early 2023, it established Haribo Korea Ltd. to expand its presence in the local jelly gum market. South Korea has become Haribo's largest market

July 16, 2025

Toss Pay rides travel surge with fourfold overseas growth

Viva Republica, operator of mobile financial platform Toss, announced Tuesday that overseas transaction value via Toss Pay surged by four times in the first half of 2025 compared to the same period last year. Available in 55 countries worldwide, Toss Pay helps users make payments by simply scanning a QR or barcode, without the need for separate currency exchange. Transactions are instantly converted into local currency from users’ linked accounts, and users can both use and earn Toss Points when

July 15, 2025

Bad news for drinkers as soju, beer prices rise in Korea

After several months of decline, the consumer price indexes for soju and beer at restaurants and bars in South Korea are beginning to rise again. According to data released Tuesday by Statistics Korea, the consumer price index for soju served at restaurants rose 0.1 percent in June from a year earlier to 115.75, marking the first increase in 10 months. The index is based on 2020 prices, with a reading above 100 indicating a rise in prices. The index for beer served at restaurants also rose, clim

July 8, 2025

Convenience stores compete with ultracheap options as restaurant prices soar

As food prices keep climbing in South Korea, more people are reaching for ultra-cheap convenience foods to balance their everyday costs. Some of the most popular items now sell for less than 1,000 won (74 cents). Convenience store chains like CU and GS25 are seeing a boom in low-cost, ready-to-eat items that appeal especially to students, office workers, and low-income families. At CU, nearly one-third of all ready-made meal sales from January to April came from residential neighborhoods, signal

June 26, 2025

Seoul Food 2025 blends tech, taste and trade

South Korea’s largest food industry showcase, Seoul Food 2025, opened Tuesday at Kintex in Goyang, Gyeonggi Province. The four-day event features a record-breaking 1,639 companies from 45 countries and is now recognized as one of Asia’s top four food exhibitions, alongside shows in Shanghai, Bangkok and Tokyo. Global interest in Korean food, or K-Food, is driving a sharp rise in export activity this year. According to the Ministry of Trade, Industry and Energy, export consultations at the event

June 10, 2025

Teen spending in Korea hits W1.75m in 2024 -- see what topped the list

South Korean teenagers spent an average total of 1.75 million won ($1,200) last year, marking a significant increase in youth consumption, according to data released by NH NongHyup Bank. The figure translates to roughly 150,000 won per month, up 30 percent from 2020. The analysis was based on the bank’s financial data collected from its teenage customers. Teenagers made an average of 262 card transactions in 2024, with debit cards rising as the most common method of payment among young consumers

May 26, 2025

K-donuts go Hollywood: Knotted wins over LA foodies

Knotted, a premium dessert brand from Korea, has made a strong debut in North America, as its Los Angeles store attracted more than 30,000 customers in its first month of opening, the cafe said Monday. Located in the upscale Century City shopping mall, Knotted’s first US location has quickly become a hot spot for locals, drawing an average of 1,000 visitors per day. Its signature donuts — particularly the milk cream donut — have sparked a “K-donut” craze, with the store often selling out its dai

May 26, 2025

Dongsuh's Kanu Barista surges in capsule coffee market, eyes W100b sales

Dongsuh Foods, the dominant player in South Korea's coffee mix market, said Tuesday that its premium capsule coffee brand Kanu Barista is projected to surpass 100 billion won ($71.8 million) in cumulative sales within this year. Launched in February 2023, Kanu Barista has quickly established itself as a major player in Korea’s expanding capsule coffee market, now valued at approximately 400 billion won ($287.5 million). The brand was developed to cater to the increasing number of consumers embra

May 20, 2025

CJ CheilJedang's Bibigo appoints K-pop group Seventeen as brand ambassador

Korean food and beverage company CJ CheilJedang announced Monday that its global food brand Bibigo has selected K-pop boy band, Seventeen, as its first-ever global brand ambassador. The campaign, aimed at connecting with Gen Z consumers around the world, will roll out under the slogan “Taste What’s Beyond.” As part of the campaign, Bibigo will release a short-form video on Tuesday through its global Instagram, TikTok, and X channels, showcasing Seventeen members enjoying signature Bibigo items s

May 19, 2025