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Tim Hortons, Peet's Coffee entry to intensify competition in Seoul's premium coffee market

Tim Hortons' coffee and donuts / Courtesy of Tim HortonsBy Kim Jae-heunHot competition among premium coffee chains is forecast as Tim Hortons prepares to open its first store in Seoul and Peet's Coffee registered its trademark rights here in May, industry officials said Wednesday. A Canadian multinational coffeehouse chain, Tim Hortons is currently hiring manager-level employees to take charge of developing directly managed stores in Korea. Tim Hortons has not revealed its exact opening date, but the chain hinted it will open its first store in the second half of this year ― most likely early in December.Peet's Coffee, a gourmet coffee chain originating from Berkeley, California, and often compared to Starbucks Coffee, registered trademarks for food and beverage services, as well as advertising and business management under its brand, two months ago.When both coffeehouse chains enter the domestic market, they are expected to compete directly with Starbucks Korea, the current leading coffee shop franchise in the country.Currently, there is no prominent rival to Starbucks Korea. Local

Jul 12, 2023By Kim Jae-heun
Tim Hortons, Peet's Coffee entry to intensify competition in Seoul's premium coffee market
Companies

Samsung runs outdoor ads for upcoming Galaxy Unpacked event

Digital signage on a building promotes Samsung Electronics' Galaxy Unpacked event countdown at COEX in Seoul, Saturday. Courtesy of Samsung ElectronicsBy Kim Jae-heunSamsung Electronics has started outdoor advertising at major landmarks around the world ahead of Galaxy Unpacked 2023: Join the flip side, the company said Tuesday. The company, Saturday, began a digital countdown ad for the event at landmarks such as COEX in Seoul, Time Square in New York, Piccadilly Circus in London, Taikoo Li in Cheongdu, Duomo square in Milan and Callao Square in Madrid.The advertisement contains a message that the new Galaxy foldable product opens up infinite possibilities for people's best lives. The name of the event “Join the flip side” invites consumers to a different perspective on things.Samsung is expected to introduce its new smartphones Z Flip5 and Galaxy Z Fold 5 series in Seoul, on July 26 at 8:00 p.m. “The Unpacked event for new Galaxy products will be held in Seoul for the first time, where tradition and future coexist. Seoul leads global trends as well as innovation.

Jul 12, 2023By Kim Jae-heun
Samsung runs outdoor ads for upcoming Galaxy Unpacked event
Companies

Food firms enjoy higher ready-to-eat 'stamina' food sales as restaurant prices soar

Pulmuone's “stamina” food products / Courtesy of PulmuoneBy Kim Jae-heunFood companies' sales of home meal replacement (HMR) products for “stamina” food are increasing as more people seek to eat samgyetang, or chicken soup with ginseng, and other high-protein dishes amid increasingly hot summer weather, according to industry officials, Tuesday. In addition, more consumers choose to eat meal-kit products at home rather than dining out, due to soaring restaurant bills.Among others, samgyetang is a popular food that Koreans eat to beat the midsummer heat. Traditionally, people would go out to a restaurant for the delicacy, but inflated dining costs have pushed them to choose the more cost-effective option.CJ CheilJedang, the country's largest food firm, saw its January-to-June sales of meal-kit product for samgyetang nearly double, year-on-year. “More than 60 percent of the total sales for samgyetang is concentrated between June and August. We expect more samgyetang to be sold this year as unprecedented sweltering heat is forecast for this summer,” a

Jul 11, 2023By Kim Jae-heun
Food firms enjoy higher ready-to-eat 'stamina' food sales as restaurant prices soar
Companies

Choo Shin-soo joins hands with Shinsegae Food to support youth baseball

SSG Landers designated hitter Choo Shin-soo holds a bottle of his name-branded mineral water at SSG Landers Field in Incheon, Wednesday. Courtesy of Shinsegae Food By Kim Jae-heunFormer Major League Baseball star and a current SSG Landers designated hitter Choo Shin-soo has joined hands with Shinsegae Food to launch a mineral water product and direct the profits to foster young baseball players, the company said Friday. The product takes its name from the baseball player and its bottle is wrapped with his animated likeness swinging a bat.On the packaging, the phrase “Water for better champion” was included so that consumers could participate in supporting youth baseball players through the purchase of the bottled-water beverage and convey the story behind the product. “As I play baseball on the world stage, I have learned one thing. For players to have a long career, it is important that they build a strong body and mind,” Choo said in a video released on Shinsegae

Jul 11, 2023By Kim Jae-heun
Choo Shin-soo joins hands with Shinsegae Food to support youth baseball
Companies

Food firms, cosmetics markers rush to expand in India

Indians in Gujarat enjoy Havmor, Lotte Wellfood's ice cream brand in India, in this 2021 file photo. Courtesy of Lotte WellfoodBy Kim Jae-heunKorean food companies and cosmetics markers are rushing to enter and expand their presence in India, riding on their success in North America and Southeast Asia, according to industry officials, Monday.India has emerged recently as a land of opportunity for a wide range of Korean businesses, as many have exited China in recent years amid the deteriorating Korea-China relations, they said. The South Asian nation is the world's second-most-populous country with 1.42 billion people as of last year, close to China's 1.425 billion. Its economy grew 6.3 percent in 2022, higher than China's 5 percent, according to the World Bank.Seizing India's huge growth potential, Lotte Wellfood entered the Indian market in 2004 by acquiring Parrys Confectionery, the country's largest confectionery firm selling candy and chocolate products nationwide, for 22.4 billion won ($17.14 million). Lotte increased its production facilities gradually in India and now has fiv

Jul 11, 2023By Kim Jae-heun
Food firms, cosmetics markers rush to expand in India
Companies

Kia sponsors Korea's esports team competing at Asian Games

Korean national esports team members wear the official uniform for the 19th Asian Games Hangzhou 2022 with the Kia logo printed on it. Courtesy of KiaBy Kim Jae-heunKia, the country's second-largest carmaker, has signed an official partnership with the Korea e-Sports Association (KeSPA) to sponsor the Korean national team for the upcoming Asian Games, the company said Friday. Under the deal, it will participate in the 19th Asian Games Hangzhou 2022, which were delayed to September this year, as an official sponsor of the Korean national esports team and display a Kia Logo on the front of players' uniforms. “As esports is adopted as an official sports event for the first time at the Asian Games, we will make our best efforts to sponsor the Korean national team,” a Kia official said. “Furthermore, the company plans to provide various supports for the growth of the Korean esports industry in the future.”Kia will unveil online content produced with the national team and hold social media events with local esports fans during the finals. The carmaker also plans to

Jul 7, 2023By Kim Jae-heun
Kia sponsors Korea's esports team competing at Asian Games
Companies

Kumho Tire signs sponsorship deal with AC Milan

Kumho Tire CEO Jung Il-taik, right, poses with AC Milan CEO Giorgio Furlani after signing a sponsorship agreement to become an official premium tire partner for the Italian football club in Milan, June 8. Courtesy of Kumho TireBy Kim Jae-heunKumho Tire has signed a sponsorship agreement with Italy's AC Milan to become the official tire partner for five seasons from 2023/2024 to 2027/2028, the company said Friday.The tire maker will conduct various branding and advertisement campaigns in the football club's facilities, websites and social media, thereby exposing the brand to football fans around the world in five languages during AC Milan's home games.“We are very pleased to form a premium partnership with AC Milan, a world-renowned football club that boasts a huge international fan base,” the CEO of Kumho Tire Jung Il-taik said. “We will use this partnership to enhance our brand recognition globally and initiate a range of activities to position ourselves as a premium brand.”The tire company also secured the right to operate joint events and promotional activi

Jul 7, 2023By Kim Jae-heun
Kumho Tire signs sponsorship deal with AC Milan
Companies

POSCO International unveils new name, mascot for women's table tennis team

POSCO International CEO Jeong Tak, fourth from left, poses with players and staff of the company's women table tennis team “Spinners” during an event to unveil its new mascot and team name at POSCO International's headquarters in Songdo, Incheon, Thursday. Courtesy of POSCO InternationalBy Kim Jae-heunPOSCO International unveiled a mascot and new name for its women's table tennis team, a first for a professional table tennis team in Korea, the company said Thursday. The team name is Spinners and its mascot is a tiger sporting a red hair ribbon and a table tennis paddle.The name Spinners was conceived from the table tennis technique that breaks down the opponents' defense by applying spin to the ball in play. POSCO chose the name to represent the spirit of challenge. Its tiger mascot represents the team's willingness to breath life into the Korean table tennis scene. “We've changed the name and mascot of the professional table tennis team for the first time to take a step closer to our fans. We will continue to provide support to our club by adopting advanced trainin

Jul 6, 2023By Kim Jae-heun
POSCO International unveils new name, mascot for women's table tennis team
Companies

Korean Air to strengthen customer service in post-COVID era

Renowned German sommelier Marc Almert, second from left in the back, and Korean Air flight attendants introduce new wine selections offered to passengers at a hotel in Seoul, in this 2022 file photo. Courtesy of Korean AirBy Kim Jae-heunKorean Air is enhancing customer service to offer distinctive content on flights and collaborate with other industries, in line with surging travel demand following the COVID-19 pandemic, the company announced Wednesday.Since June, the airline has been providing an in-flight Wi-Fi service for international flights. Initially available on Boeing 737-8 aircraft operating international routes, the company plans to expand internet access to various models such as the Airbus A321neo and Boeing 787, gradually implementing it on all planes for international travel.Additionally, Korean Air now offers exclusive Korean food menus on flights. Since March, the company has developed and introduced a Korean-style vegetarian menu featuring seasonal ingredients, along with 52 new wine selections in collaboration with renowned German sommelier Marc Almert.The airline

Jul 6, 2023By Kim Jae-heun
Korean Air to strengthen customer service in post-COVID era
Companies

McDonald's continues search for strategic partner in Korea

McDonald's Korea CEO Kim Ki-won talks about the company's 35 year history at a press conference in Seoul, Wednesday. Courtesy of McDonald's KoreaBy Kim Jae-heunMcDonald's Korea is still looking for a strategic partner to operate its fast food business in what is an increasingly competitive franchise market here, a company official said Wednesday."McDonald's operates its franchise business through strategic partnerships in approximately 80 countries worldwide. McDonald's Korea is also searching for a partner company to achieve long-term growth and development," said McDonald's Korea CEO Kim Ki-won during a press conference at a hotel in Seoul, commemorating the company's 35th anniversary. "Our objective is not to pursue a short-term profit-oriented acquisition. We are currently evaluating various options and will disclose our decision at an appropriate time."McDonald's has attempted to sell its Korean business twice before, in 2016 and 2022, due to its unprofitable operations. Since 2019, McDonald's Korea has experienced four consecutive years of operating losses amounting to 44 billi

Jul 5, 2023By Kim Jae-heun
McDonald's continues search for strategic partner in Korea
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